Browsing: Business

Snapchat’s shares plunged after it missed revenue expectations and warned it faces incredibly challenging conditions. As a result of disruptions in the supply chain, advertisers are cutting spending. After-hours trade in New York saw Snap shares plunge more than 25%.

A spike in gas, food and rent prices catapulted U.S. inflation to a record four-decade high in June, further provoking households and likely sealing the case for another steep interest rate hike by the Federal Reserve, with higher borrowing costs