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LOS ANGELES, Feb 1 (Reuters) – FedEx Corp (FDX.N) on Wednesday said it would cut its officer and director ranks by more than 10% as part of a broad cost-reduction effort that has reduced staffing at the delivery giant by 12,000 workers since June, a spokeswoman said. Shares in FedEx rose 3.4% to $200.52 as …
FedEx to cut senior jobs as part of larger staff reduction Read More »
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SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching …
Exclusive: EV maker Rivian to cut 6% of jobs amid price war -internal memo Read More »
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WASHINGTON, Feb 1 (Reuters) – The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) charge on mobile app stores . The move is part of a larger policy drive to promote competition in consumer markets, …
Biden moves to slash US credit card fees, app charges Read More »
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Jan 31 (Reuters) – US chip maker Advanced Micro Devices Inc (AMD.O) on Tuesday posted revenue that beat Wall Street targets and said it expected business to improve in the second half, enthusing investors who saw the company gaining on rival Intel. Shares rose about 1.5% in after hours trading. Although AMD’s forecast was behind …
AMD revenue beats targets, Wall St relieved after Intel’s grim outlook Read More »
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Loss in 2022 exceeds previous record from 2008 Inflation, geopolitical tensions remain risk factors Record inflow of money from oil and gas industry OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a three-year …
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NEW YORK, Jan 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is preparing to seek bankruptcy protection as soon as this week, and has lined up liquidators to close additional stores unless a last-minute buyer emerges, four people familiar with the matter said on Monday. The timing of any bankruptcy filing was in flux …
Exclusive: Bed Bath & Beyond preparing for bankruptcy as soon as this week Read More »
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SHANGHAI, Jan 29 (Reuters) – China’s smartphone sales fell 13% year-on-year in 2022, the largest plunge for the sector in a decade as consumers spent cautiously, market research firm IDC said on Sunday. The total number of devices shipped was 286 million, down from 329 million in 2022. That meant total 2022 sales volume was …
China’s 2022 smartphone shipments the lowest in 10 years, research firm says Read More »
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Microsoft, Tesla lead S&P, Nasdaq higher IBM announces job cuts, asset divestment Bed Bath & Beyond sinks on default notice Intel slides after the bell following results Indexes up: Dow 0.61%, S&P 1.10%, Nasdaq 1.76% NEW YORK, Jan 26 (Reuters) – Wall Street ended a choppy session higher on Thursday as investors grappled with an …
Wall Street closes green as GDP data eases recession worries Read More »
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Jan 26 (Reuters) – A landmark lawsuit by the US Justice Department against Alphabet’s (GOOGL.O) Google over its dominance of advertising technology could help rivals and websites that sell ad space, but leaves an uncertain future for the advertisers themselves, experts told Reuters. The Justice Department’s complaint against Google on Tuesday called for the company …
US lawsuit against Google could benefit Apple and others Read More »
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AT&T gains on subscriber adds General Dynamics slides after weak outlook Tesla, IBM post results Indexes: Dow up 0.03%, S&P 500 off 0.02%, Nasdaq down 0.18% NEW YORK, Jan 25 (Reuters) – The S&P 500 ended nominally lower on Wednesday as a string of corporate earnings ran the gamut from downbeat to dismal, reviving worries …
S&P 500 closes slightly red as weak corporate guidance fuels recession fears Read More »