Goodyear to Cut 500 Jobs Warns of Earnings Shortfall
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FCC to cut monthly broadband benefits because of funding shortfall
Some low-income families in the U.S. could see more expensive broadband bills starting next month when the Federal Communications Commission (FCC) makes cuts to its monthly broadband benefits, the agency announced Tuesday. The agency said the ...The Hill - Politics -
Thyssenkrupp Steel to Cut Output, Jobs
Thyssenkrupp Steel plans to reduce its production capacity to between 9 million and 9.5 million metric tons a year, broadly in line with its shipments over the past three years and cut jobs, in response to challenging market conditions, with weak ...The Wall Street Journal - World -
Layoffs in 2024: A List of Companies Cutting Jobs This Year
The layoffs are expected to be smaller and more targeted than those in 2023.The Wall Street Journal - Business -
Amazon Cuts Hundreds of Jobs in Cloud-Computing Business
Amazon Web Services said it planned to eliminate several hundred jobs in sales, marketing and global services, and would cut hundreds more from its physical stores technology team.The Wall Street Journal - Tech - Amazon -
U.S. Stocks Slide On Tech Weakness
U.S. stocks fell again as investors don’t expect a rate cut from the Fed anytime soon.The Wall Street Journal - World -
Thyssenkrupp Steel plans to cut jobs and scale back production capacity.
Thyssenkrupp Steel plans to cut jobs and scale back production capacity.The Wall Street Journal - World -
Take-Two Interactive to Cut 5% of Jobs, Slash Projects
The video game maker said the cost-cutting moves are expected to be finished by the end of the year.The Wall Street Journal - World -
Take-Two Interactive to Cut 5% of Jobs, Slash Projects
The video game maker said the cost-cutting moves are expected to be finished by the end of the year.The Wall Street Journal - Business -
Dimon Warns of ‘Unsettling’ Pressures That Could Weigh on JPMorgan Earnings
Warnings from the chief executive of the nation’s largest bank have been consistently at odds with heady financial markets.The New York Times - Business -
‘Grand Theft Auto’ maker Take-Two to cut jobs, cancel games in cost-cutting plan
Videogame maker Take-Two Interactive Software Inc. said late Tuesday it will lay off about 5% of its workforce, cancel games and streamline its operations as it aims to save about $165 million a year.MarketWatch - Business -
Lufthansa Cuts Earnings Guidance After Strikes Take Toll
The German carrier group said strikes by employees within the group and also by employees at partners hit earnings by around €350 million.The Wall Street Journal - Business -
World Bank Cuts Latin America Growth Forecast and Warns of Crime
Yahoo News - World -
IMF Chief Warns Central Banks Against Cutting Too Soon
Central banks should resist the temptation to lower their key interest rates too early and risk a resurgence of inflation, International Monetary Fund Managing Director Kristalina Georgieva said.The Wall Street Journal - World -
S&P 500 Falls for Fourth Straight Session on Fading Hopes for Interest-Rate Cuts
The index’s losing streak is its longest since the first week of 2024.The Wall Street Journal - World -
Blow to New Zealand media as two main news outlets announce programme closures and job cuts
More than 350 jobs to go after Warner Bros. Discovery closes all its Newshub news operations and TVNZ cuts programs and bulletins. New Zealand’s news media has been dealt a major blow after two of its primary news outlets announced programme ...The Guardian - World - New Zealand -
Tesla to cut 14,000 jobs as Elon Musk bids to make it ‘lean, innovative and hungry’
Billionaire says ‘there is nothing I hate more’ than cutting staff as more than 10% of workforce to be affected. Business live – latest updatesTesla is laying off more than 10% of its global workforce, equivalent to at least 14,000 roles.. The ...The Guardian - World - Elon Musk -
Tesla shares fall to lowest in almost a year after job cuts heighten concerns about waning demand
Tesla's announcement Monday that it's cutting jobs sent the shares down nearly 6%, continuing the year's sell-off.CNBC - Business -
Tesla job cuts heighten Wall Street concerns that EV maker faces a demand problem
Companies often see their stock price jump after announcing job cuts, as Wall Street rallies around the prospects for improved efficiency and profits.NBC News - Top stories - Tesla -
Google lays off more employees, will move some jobs overseas as part of continuing cost cuts
Google announced a new round of layoffs Wednesday, and said it will move some jobs overseas.MarketWatch - Business - Google -
Tesla to lay off 14% of its Buffalo workforce as part of large-scale job cuts
Tesla Inc. will lay off 285 workers at two plants in Buffalo, New York, or 14% of the total workforce of 2,032 workers, the EV maker said in an official notice late Wednesday.MarketWatch - Business - Tesla -
Dimon says JPMorgan Chase's numbers are strong, but warns of future threats in earnings report
JPMorgan Chase beat expectations in the first quarter of 2024, reporting an increase in both profits and revenues. CEO Jamie Dimon says the numbers are strong, but he warns that uncertainties like inflation and war pose potential threats for the ...CBS News - Top stories -
Regional bank earnings may expose critical weaknesses, former FDIC Chair Sheila Bair warns
Sheila Bair, who ran the FDIC during the financial crisis, is nervous about a handful of regional banks going into earnings.CNBC - Business -
Wells Fargo kicks off our bank earnings Friday. Rate cuts and dealmaking will be in focus this season
First-quarter results will come against a more pleasant backdrop than last year, when Silicon Valley Bank's collapse sent shockwaves throughout the sector.CNBC - Business -
Wells Fargo earnings top estimates even as lower interest income cuts into profits
Wells Fargo on Friday reported first-quarter earnings and revenue that beat Wall Street expectations, despite a decline in net interest income.CNBC - Business -
United Airlines jumps more than 13% on strong earnings forecast, cuts 2024 fleet plan on Boeing delays
United expects to receive fewer aircraft this year and is planning to add leased Airbus A321neos.CNBC - Business -
Small-cap stocks ‘challenged’ as inflation pushes out Fed rate-cut expectations, warns BofA
U.S. small-cap stocks are “challenged” as Wall Street pushes out expectations for when the Federal Reserve may begin lowering interest rates due to concerns over persistent inflation, according to BofA Global Research.MarketWatch - Business - Federal Reserve -
Switzerland’s Climate Shortfalls Violate Human Rights, European Court Rules
Experts said it was the first time an international court determined that governments were legally obligated to meet their climate targets under human rights law.The New York Times - Science - Climate -
Elevance Health’s quarterly profit tops estimates to offset a revenue shortfall
The stock was on track for its highest close since Dec. 12, 2022, and its biggest percentage increase since July 14, 2023.MarketWatch - Business -
Give arrested photographer compensation - union
Dimitris Legakis was arrested after a police officer "took offence" to him taking pictures.BBC News - Top stories -
Donald Trump’s empty promises on jobs
The policies of the Trump administration played an important role in this decline of U.S. manufacturing capacity and employment.The Hill - Politics - Donald Trump -
Bank Earnings in Focus
The season kicks off in earnest, with results due from JPMorgan Chase, Wells Fargo and Citigroup.The Wall Street Journal - World -
Roundup of Bank Earnings
Investors watch bank earnings for news about the individual banks and the financial sector broadly, but also for insights about the state of the economy.The Wall Street Journal - World -
Netflix Earnings: What to Watch
Investors are looking for signs that a crackdown on password sharing is still benefiting the streamer, as it did last quarter.The Wall Street Journal - World - Netflix -
S&P 500 Rises Ahead of Inflation Data
Government-bond yields slipped, while gold prices clinched a third consecutive record close.The Wall Street Journal - World -
ABB Lifts Profit Outlook Despite Sales Miss
ABB raised its profit guidance for 2024, despte reporting flat revenue for the first quarter that missed consensus expectations and weaker group orders.The Wall Street Journal - World -
Stocks Turn Lower in Afternoon; Housing Market in Focus
Stocks are edging lower, driven by chip shares.The Wall Street Journal - World -
I'm Inundated by Job Candidates Calling for More Information
All the info they need is in our ad!Inc. - Business -
Are octogenarian IMF and World Bank sprightly enough for the job?
Fragile recovery, low growth, global debt, AI, the climate … The organisations founded in 1944 have lots to talk about this week. There is likely to be a sense of relief when the International Monetary Fund and the World Bank hold their ...The Guardian - World -
Ruffer to axe jobs after poor investment performance
London-based asset manager will cut staff across the business, including its private client and risk teamsFinancial Times - Business -
No One Actually Knows How AI Will Affect Jobs
Some businesses are replacing people with AI; others are augmenting their workforce or hiring new workers. The long-term impact on labor is murky.Wired - Tech