Tag: company
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BMW to cut up to 8,000 jobs
Nearly half of BMW’s German staff will receive a voluntary redundancy offer in the carmaker’s bid to reduce staff by about 8,000 people.
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Visa to lay off 7% of staff as efficiency push deepens
July 28 : Visa plans to cut 7 per cent of its workforce, or about 2,600 jobs, a company spokesperson said on Tuesday, about six months after a similar step by its closest peer as the payments processor seeks to become more efficient. The job cuts will primarily affect technology and product teams. “To
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Meta disregarded its own research on teen harm, Tennessee tells jury
July 27 : Attorneys for the state of Tennessee told a jury in Nashville on Monday that Meta Platforms’ leadership disregarded internal research about its Instagram platform’s impact on teenagers as the company sought to maximize profit from young users.During opening statements in a seven-week trial in state
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Google burning through cash with spiralling AI costs
The company said earlier this year it expected to spend as much as $190bn on AI investments.
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Intel results to test if AI-fueled rally has room to run
July 22 : Intel’s results on Thursday will show whether the American chip icon has the numbers to back a Wall Street rally that has sent its shares nearly three times higher this year, as its turnaround push wins over investors and the AI buildout powers demand. Analysts expect the company to report its fast
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Meta faces Tennessee trial over allegations Instagram was designed to be addictive
July 20 : Meta Platforms faces trial in Tennessee on Monday over the state’s claims that Instagram’s design is to blame for a youth mental-health crisis, one of several trials in the coming weeks testing allegations that the company’s social media platforms were intentionally built to be addictive.Tennessee a
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How PayPal went from Wall Street favorite to unwilling merger target
July 20 : Five years ago PayPal was a Wall Street favorite and a leader in digital payments. Since then the stock has plunged, Apple Pay dominates payment services in the U.S. and PayPal is facing a takeover bid it does not like. What happens next?The company synonymous with digital payments this past week go
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GameStop owns nearly 10% of eBay, SEC filing shows
July 17 : Videogame retailer GameStop owns nearly 10 per cent of e-commerce company eBay, the company said in a regulatory filing late on Friday, signaling its intent to push ahead with plans to buy eBay even after its unsolicited offer was rejected.GameStop said it owns 43.4 million outstanding shares of eBa
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Apple unseats Nvidia to become world’s most valuable company as AI bets shift
July 17 : Apple overtook Nvidia on Friday to become the world’s most valuable company, reshuffling the top ranks of tech heavyweights as investors reassess the outlook for artificial intelligence.Apple was last valued at $4.88 trillion as its shares held steady, while Nvidia was roughly at $4.86 trillion, fol
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Netflix earnings forecast disappoints Wall Street, shares tumble
LOS ANGELES, July 16 : Netflix forecast third-quarter revenue and earnings on Thursday that fell short of Wall Street targets and said it would cut the frequency of viewing-hours reports as the company seeks new avenues of growth.Shares of Netflix fell nearly 8.6 per cent in after-hours trading to $67.99.
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