Intel reportedly scaling back R&D teams in Israel — several hundred talented staff will be laid off
Intel plans to reduce its workforce by several hundred employees at its Israeli research and development centers, following similar job…
VW cost cutting necessary after ‘decades of structural problems’, CEO tells paper
Volkswagen’s planned cost-cutting programme was unavoidable in order to remedy “decades of structural problems” at the German carmaker, CEO Oliver…
Boeing Bankers Grab Up to $300 Million in Capital Raise Fees
Boeing Co.’s $20 billion-plus capital raise delivered four banks a hefty payday just as equity market issuance began to cool…
Meta Posts Record $15.7 Billion Profit as Net Income Balloons 35% in Q3
Meta, the parent company of Facebook and Instagram, reported a record quarterly profit on Wednesday afternoon, as well as stronger-than-expected…
Rivian’s chief software officer says in-car buttons are ‘an anomaly’
The trend of big touchscreens in cars has left many yearning for the not-so-distant days when most user interactions happened…
Elliott boosts Southwest interest to 11.3% after truce
Elliott Investment Management slightly increasing its economic exposure to 11.3% in Southwest Airlines Co. (LUV) after agreeing to a truce…
Volkswagen stumbles in China as Germany’s auto giants struggle to compete in the EV race
Germany’s automotive industry is facing an increasingly difficult outlook. Volkswagen may close factories in Germany for the first time, and…
US Oil Production Hits Another Record, Adding to Supply Worries
US oil production jumped to a fresh monthly record of 13.4 million barrels a day in August, in what is…
Yen Extends Gain After BOJ Signals Interest Rates May Increase
The yen advanced as much as 1% against the dollar, extending gains after Bank of Japan Governor Kazuo Ueda signaled…
Samsung’s Sudden $122 Billion Wipeout Shows the Cost of Sleeping on AI
Just a few months ago, Samsung Electronics Co. looked primed to benefit from the global AI boom: profits were surging…