Latest Snap Inc News

US applications for jobless claims hold at healthy levels

Mar. 07, 2024 08:45 AM EST

U.S. applications for jobless benefits were unchanged last week, settling at a healthy level as the labor market continues to show strength in the face of elevated interest rates. Unemployment claims for the week ending March 2 were 217,000, matching the previous week's revised...

New York City nearly resolves delays in benefits to thousands of low income residents, mayor says

Mar. 04, 2024 13:18 PM EST

NEW YORK (AP) — New York City has nearly resolved the backlogs in government programs providing food and cash assistance that prompted local groups to take legal action last year, Mayor Eric Adams said Monday. The Democrat said the backlogs that forced low-income city residents to...

US applications for jobless benefits rise but remain historically low despite recent layoffs

Feb. 29, 2024 12:57 PM EST

More Americans applied for jobless benefits last week, but layoffs remain historically low even as more high-profile companies have announced job cuts this year. Applications for unemployment benefits rose by 13,000 to 215,000 for the week ending Feb. 24, the Labor Department...

GOP-led Kentucky House votes to relax child labor rules and toughen food stamp eligibility standards

Feb. 22, 2024 19:57 PM EST

FRANKFORT, Ky. (AP) — Republican-backed measures to relax child labor rules and tighten food stamp eligibility standards won passage Thursday in the Kentucky House over impassioned objections from Democrats. In back-to-back votes, both bills advanced to the GOP-dominated Senate...

Google, Facebook take bigger share of ad spending, but economic slowdown could hurt growth

Feb. 08, 2024 08:07 AM EST

NEW YORK (AP) — Weak results from Google, Snap and other big sellers of online ads are raising concerns that Wall Street's optimistic growth forecasts are setting investors up for rude surprise this year. Google, which dominates the $270 billion digital advertising sector,...

Chipotle, Ford rise; Gilead Sciences, Snap fall, Wednesday, 2/7/2024

Feb. 07, 2024 16:25 PM EST

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Wednesday. Gilead Sciences Inc., down $3.30 to $74.42. The HIV and hepatitis C treatment maker gave investors a weak profit forecast for the year. Chipotle Mexican Grill...

Snap: Q4 Earnings Snapshot

Feb. 06, 2024 17:05 PM EST

SANTA MONICA, Calif. (AP) — SANTA MONICA, Calif. (AP) — Snap Inc. (SNAP) on Tuesday reported a loss of $248.2 million in its fourth quarter. On a per-share basis, the Santa Monica, California-based company said it had a loss of 15 cents. Earnings, adjusted for one-time gains and...

Snap, the owner of Snapchat, is laying off about 10% of its global workforce

Feb. 05, 2024 14:01 PM EST

The owner of Snapchat is cutting approximately 10% of its worldwide workforce, or about 530 employees, the latest tech company to announce layoffs. Snap Inc. said in a regulatory filing that it currently estimates $55 million to $75 million in charges, mostly for severance and...

The job market is humming, but layoffs are still happening in a shifting economic environment

Feb. 05, 2024 11:47 AM EST

The U.S. economy is humming and there are hundreds of thousands of jobs being added every month. In a stunning burst of hiring to start the year, the nation added 353,000 jobs in January, shrugging off the highest interest rates in two decades that have been put in place by the U.S. Federal Reserve...

Singaporeans bemoan U.S. Senator's 'ignorant' grilling of TikTok CEO

Feb. 02, 2024 07:29 AM EST

SINGAPORE (AP) — After a U.S. senator grilled the Singaporean CEO of TikTok about his nationality and suggested he was affiliated with the Chinese Communist Party, Singaporeans are complaining about ignorant — or even racist — views of their country. TikTok CEO Shou Chew and...