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Bloomberg

Iran Warn Stalls Trump's Affordability Agenda

The Trump administration's fitful campaign to address US voters' affordability concerns ahead of the midterm elections is faltering, with some key efforts stalled, cast aside or limited in scope.  The war in Iran has driven up gas prices and sent a chill through the spring housing market. It has also drowned out the administration's set-piece events meant to highlight larger tax refunds and measures to lower drug prices. Liz Pancotti, Managing Director of Policy and Advocacy at the Groundwork Collaborative, discusses how consumers are experiencing a spending slowdown. She speaks with Bloomberg's Kailey Leinz on Balance of Power.

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Bloomberg

Coinbase to Cut 14% of Staff, Citing Volatile Markets and AI

Crypto exchange Coinbase Global Inc. will cut around 14% of its workforce, citing a need to manage costs in volatile markets and technological advances in artificial intelligence. Around 700 employees will be affected by the changes, with cuts expected to happen mostly in the second quarter, and the company expects to incur as much as $60 million in restructuring expenses. Bloomberg's Paul Gulberg joins Bloomberg Intelligence to discuss.

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Bloomberg

PayPal Plans to Cut 20% of Workforce as CEO Seeks to Revamp

PayPal Holdings Inc. plans to cut around 20% of its workforce in the next two to three years, according to a person familiar with the matter, as new Chief Executive Officer Enrique Lores seeks to reduce costs and turn around the payments company. PayPal employed around 23,800 people at the end of the year, meaning a workforce reduction of that size could eliminate more than 4,500 jobs. It's part of the company's plan to realize at least $1.5 billion in savings over the next two to three years, according to a statement Tuesday.  Bloomberg's Diksha Gera joins Bloomberg Intelligence to discuss.

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