Jan 31 (Reuters) – Intel Corp (INTC.O) said on Tuesday it had made sweeping pay cuts for employees and executives, a week after the company released lower-than-expected sales guidance in due to a loss of market share to rivals and a slowdown in the PC market. The cuts will range from 5% of base pay …
Intel cuts employee and executive salaries amid slowing PC market Read More »
Jan 30 (Reuters) – The Biden administration has stopped approving licenses allowing U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions on items for 5G and other technologies for several years, but U.S. Commerce Department officials have granted licenses to some …
US stops granting export licenses to Chinese Huawei – sources Read More »
WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday that the U.S. Justice Department had sought documents related to its self-driving (FSD) and Autopilot assistance systems as the regulatory scrutiny intensifies. The automaker said in a filing that it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD …
SHANGHAI, Jan 29 (Reuters) – China’s smartphone sales fell 13% year-on-year in 2022, the industry’s steepest fall in a decade, as consumers spend cautiously, the research firm of China said on Sunday. IDC market. The total number of devices shipped was 286 million, up from 329 million in 2022. That means 2022’s total sales volume …
China smartphone shipments in 2022 lowest in 10 years, research firm says Read More »
NEW YORK, Jan 28 (Reuters) – Lawyers for Sam Bankman-Fried urged a U.S. judge on Saturday not to bar the indicted FTX cryptocurrency executive from communicating with former colleagues amid his bail , saying prosecutors had “sandbag” the process to put their client in the “worst possible light”. The attorneys were responding to a Friday …
FTX Founder Bankman-Fried Opposes Tougher Bail, Says Prosecutors ‘Sandbagged Him’ Read More »
Jan 27 (Reuters) – Shares of Lucid Group (LCID.O) jumped 43% on Friday, trimming gains after doubling down on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted buy the electric vehicle manufacturer. The speculation stemmed from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the …
Electric vehicle maker Lucid rushes Saudi PIF report to buy remaining stake Read More »
Jan 26 (Reuters) – Shares of BuzzFeed Inc (BZFD.O) jumped on Thursday on reports of a deal with Meta Platforms Inc (META.O) and plans to use artificial intelligence to personalize and improve the digital media company’s quizzes and online content. The stock was 19% higher in extended trading, having more than doubled in value earlier …
BuzzFeed Soars on Meta Deal Reports, Plans to Use OpenAI Read More »
Jan 25 (Reuters) – Tesla Inc’s (TSLA.O) aggressive price cuts have boosted demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, downplaying fears a weak economy could strangle the buyer interest. The company slightly beat Wall Street’s fourth-quarter revenue and profit targets earlier on Wednesday despite a sharp decline in vehicle profit …
Musk says Tesla price cuts sparked demand, 2023 sales could reach 2 million vehicles Read More »
Jan 25 (Reuters) – IBM Corp (IBM.N) on Wednesday announced 3,900 layoffs as part of some asset disposals and missed its annual cash target, dampening fourth-quarter revenue expectations . Chief Financial Officer James Kavanaugh told Reuters the company was still “committed to hiring for customer-facing research and development.” The layoffs — related to the spin-off …
IBM cuts 3,900 jobs and misses annual cash target Read More »
SEC investigates NYSE bell opening issue 3M slips on pessimistic forecast for the first quarter J&J comes across a sell warning; GE down on weak earnings Microsoft to release quarterly results after market close Indices: Dow up 0.18%, S&P 500 down 0.13%, Nasdaq down 0.25% NEW YORK, Jan 24 (Reuters) – Wall Street was mixed …
Wall Street falters after mixed earnings and trade glitch Read More »