Global shares rose on Friday and the U.S. dollar fell, after jobs data came in stronger than expected but also hinted at some slack in the tight American labor market, raising hopes the Federal Reserve might ease up on monetary tightening. Data from the U.S. Bureau of Labor Statistics showed the economy generated 261,000 jobs […]
News
Meta Platforms Inc is planning to begin large-scale layoffs this week that will affect thousands of employees, the Wall Street Journal reported on Sunday citing people familiar with the matter, with an announcement planned as early as Wednesday. Meta declined to comment on the WSJ report. Facebook parent Meta in October forecasted a weak holiday […]
Chinese chip manufacturer Hua Hong Semiconductor Ltd has received regulatory approval for an 18 billion yuan ($2.5 billion) IPO in Shanghai, according to a filing published late on Friday on the Hong Kong stock exchange. The planned initial public offering (IPO) comes as China’s chip companies gear up for steeper competition with the United States […]
Apple Inc expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at a virus-blighted plant in China, dampening its sales outlook for the busy year-end holiday season. Demand for high-end smartphones assembled at Foxconn’s Zhengzhou plant has helped Apple remain a bright spot in a technology sector battered […]
Quantum computer startup QuEra, born from researchers at Harvard University and the Massachusetts Institute of Technology, said on Tuesday its computer is now accessible to the public through Amazon.com cloud’s quantum computer service Braket. While there are various technologies for creating so-called quantum bits or qubits where the computations happen, QuEra’s qubits use neutral atoms […]
The United States and United Arab Emirates have reached an agreement to spend $100 billion on clean energy projects with a goal of adding 100 gigawatts globally by 2035, U.S. Secretary of State Antony Blinken said on Tuesday. The two governments signed a memorandum of understanding in Abu Dhabi setting out the framework of the […]
U.S. stocks closed lower for a second straight session on Tuesday after data indicating that the labor market remained on solid ground dimmed hopes the Federal Reserve might have enough reason to begin reducing the size of its interest rate hikes. A survey showed U.S. job openings unexpectedly rose in September, suggesting that demand for […]
Alphabet Inc’s Google said on Tuesday it would buy about three-quarters of the renewable power from SB Energy Global’s Texas facilities, as it aims to operate data centers on carbon-free energy by 2030. Companies are rapidly shifting toward clean energy and transportation as they look to meet environmental and sustainability goals. The $430-billion Inflation Reduction […]
Uber Technologies Inc on Tuesday forecast fourth-quarter operating profit above Wall Street estimates, betting on cost controls and rising demand for its rides as customers resume spending more on travel, sending its shares up 15 percent. With cities reopening and travel booming, consumers are shifting their budgets to services, Chief Executive Dara Khosrowshahi said, compared […]
In an expanding exodus of Twitter’s top management, officials including its advertising and marketing chiefs left the company in the past few days, according to statements and a person with direct knowledge of the matter. The departures come after billionaire Elon Musk’s $44 billion takeover of the company last week, followed by his firing of […]