Technology investor Prosus NV on Wednesday reported an 82 percent drop in earnings per share for the half year ended Sept. 30, due to higher investment costs and a smaller contribution from its large stake in China’s Tencent Holdings Ltd. The reported earnings of $1.81 per share were in line with expectations after Prosus published […]
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Nordstrom Inc said on Tuesday net sales at its eponymous retail stores fell 3.4 percent in its third quarter, and overall sales for the company slowed down in the past couple of months, “particularly in geographies with unseasonably warm weather.” The company also trimmed its net profit forecast for the fiscal year ending January 2023. […]
HP Inc said on Tuesday it expects to cut up to 6,000 jobs by the end of fiscal 2025, or about 12 percent of its global workforce, at a time when sales of personal computers and laptops are sliding as shoppers tighten budgets. The PC maker also forecast a lower-than-expected profit for the first quarter […]
Tesla chief executive Elon Musk said on Wednesday that South Korea was among its top candidate locations for a factory it plans to build in Asia for making electric vehicles (EVs), according to South Korea’s presidential office. Musk had made the remark in a video call with President Yoon Suk-yeol, adding that the company planned […]
Alphabet Inc’s Google has struck at least 24 deals with big app developers to stop them from competing with its Play Store, including an agreement to pay Activision Blizzard Inc about $360 million over three years, according to a court filing on Thursday. Google also agreed in 2020 to pay Tencent Holdings Ltd’s Riot Games […]
Taiwanese chipmaker TSMC is planning to produce chips with advanced 3-nanometre technology at its new factory in the U.S. state of Arizona but the plans are not completely finalised yet, the company’s founder Morris Chang said on Monday. Taiwan Semiconductor Manufacturing Co Ltd (TSMC), a major Apple Inc supplier and the world’s largest contract chipmaker, […]
Donald Trump on Saturday said he had no interest in returning to Twitter even as a slim majority voted in favor of reinstating the former U.S. President, who was banned from the social media service for inciting violence, in a poll organized by new owner Elon Musk. Slightly over 15 million Twitter users voted in […]
A federal judge on Friday sentenced Theranos founder Elizabeth Holmes to 11 years and three months in prison for defrauding investors in her now-defunct blood-testing startup that was once valued at $9 billion. In San Jose, California, U.S. District Judge Edward Davila sentenced Holmes, 38, on three counts of investor fraud and one count of […]
The U.S. House Financial Services Committee said on Wednesday it plans to hold a hearing in December to investigate the collapse of cryptocurrency exchange FTX. The committee said it expects to hear from the companies and individuals involved, including FTX founder Sam Bankman-Fried, Alameda Research, Binance, FTX and related entities, among others. “The fall of […]
German engineering and technology group Siemens posted a better-than-expected fourth-quarter profit for its industrial business on Thursday and said its factory hardware and software continued to witness strong demand. The company said in a statement it has seen growth in many markets despite a “continuing complex macroeconomic environment influenced by energy shortages and availability concerns […]