Economy Booms, Gaming Gets Trimmed, and WWE Founder Faces Serious Allegations: Your Daily Dose of Headlines
Boom Boom Boom! The US economy just blew Wall Street's predictions out of the water, growing 3.3% in the last quarter – way better than the expected 2%. This marks a steady climb from 2022 and fuels talk of the Fed giving interest rates a haircut later this year. Strong consumer spending, thanks to rising wages and a rock-solid job market, powered this economic surge, even with inflation showing signs of cooling down (from 5.9% to a more manageable 2.7%).
Meanwhile, in the video game realm... Microsoft's gaming division is having a leaner year. They just made some cuts, axing 1,900 employees (mostly from Xbox and Activision Blizzard). This amounts to 8% of their entire gaming workforce. The news comes after their big Activision Blizzard acquisition and some significant leadership changes, including CEO Bobby Kotick's departure in December and now Blizzard President Mike Ybarra's exit. Seems like trimming the fat is the name of the game for several companies in the industry, with Twitch, Discord, Unity, and Riot Games also making similar moves.
And lastly, a bombshell in the wrestling world: WWE founder Vince McMahon is facing some serious allegations. A former employee, Janel Grant, filed a lawsuit claiming he sexually abused and trafficked her as part of securing talent deals. Former head of talent relations John Laurinaitis is also named as a defendant. This isn't McMahon's first rodeo with such accusations – he resigned as CEO in 2022 while the company investigated similar claims, later revealing millions in hush money payments. Now, as executive chairman of WWE's parent company, TKO Group, he's dealing with this new lawsuit just as they secured a hefty deal with Netflix for Monday Night Raw. Whew, talk about a drama-filled storyline!
So there you have it, your daily dose of economic cheer, gaming industry updates, and a major controversy shaking up the world of wrestling. Stay tuned for further developments, folks, it's gonna be a wild ride!
