Snap Spending News Today

now, for the business news, im victoria valentine. we start in the us where there is more evidence that, after tens of thousands ofjob cuts, big tech is pulling out of its post—pandemic slump. amazon is the latest to reveal its making much more money than wall street was expecting. sales hit more than $127 billion in the first three months of the year, and the online retail giant says that figure will be higher in the current quarter. it comes after alphabet, the owner of google and ...

Wanting to spend on advertising spending, and now we are seeing that this is ok for the bigger players like, for example, meta which owns facebook and instagram, as well as alphabet, the parent company of google. they are reporting that revenue has not been hit as badly but it is the smaller companies, the likes of snap and pinterest that are saying it is still really impacting their revenue allocation. we are also seeing snap spending huge amounts of money on its new ai platform as well as augm...

Grio perryjuni. perry, what is behind these cuts to the snap program? >> whats behind them is there was an increase in snap funding because of the stimulus of 2009. and that extension that increase has ended now. neither party really fought to keep this up. its not as though the republicans didnt push to keep this money up. white house and democrats didnt either. you basically had a situation in washington where neither party -- this wasnt a divide in the issue but both parties sort of tacitly a...

Thats one in seven people. directors of food banks say if further cuts come down they would have to at least double the amount of out put in order to feed needy families struggling to make ends meet. >> few more numbers to go through, ed. 87% of food stamp recipients are in homes with kids, seniors or disabled. 900,000 veterans rely on food stamps. for every dollar in s.n.a.p. spending, $1.70 is generated for the community. and they want to cut $30 million from this program? >> its unlikely the ...

At best, this should be a local thing that government should fight. they can do a much better job. i say they do an even better job in the private sector through charity. the problem with the fraud is precisely because the federal government is involved. if you want to get rid of it, abolish the program. >> morgan, what about cutting out the federal side of this entirely, just focusing on private charities and local governments? >> i dont think that we should cut out the federal government entir...

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