Tag: Business

Apple lays off over 600 California employees after shuttering car project

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Apple lays off of 614 workers in California, marking the company’s first significant job cuts since the pandemic. The affected employees, working across various Santa Clara facilities, include machine shop managers and engineers. The move comes amid Apple’s recent cancellation of a self-driving car project, reflecting shifts in the tech giant’s strategic focus. of 614 workers in California, marking the company’s first significant job cuts since the pandemic. The affected employees, working across various Santa Clara facilities, include machine shop managers and engineers. The move comes amid Apple’s recent cancellation…

Trump Media plunges more than 25% after company reports net loss of $58 million in 2023

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Trump Media, the company behind the Truth Social app linked to former President Donald Trump, reports a significant net loss in 2023, leading to a sharp decline in share price. Despite high market capitalization, financial filings reveal ongoing operating losses and internal control weaknesses, raising concerns about the company’s future viability and unique risks associated with Trump’s involvement. [ad_1] This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Stefani…

‘I am so scared of them now’: Burned from overspending, some ‘buy now, pay later’ users warn others away

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[ad_1] Many consumers find buying now and paying later a godsend when cash is tight. Others are wishing they’d paid upfront to avoid pain later. Tia Whiteside, 27, knew she was spending more than she would have without buy now, pay later services — the popular loans that let borrowers split purchases into installments with little or no interest. Planning a day trip to the beach with her 2-year-old son last year, she spent $800 on Amazon purchases including a tent, new outfits and a high-end sandcastle kit with the…

AT&T is investigating a leak that put millions of customers' data on the dark web

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[ad_1] A pedestrian passes an AT&T store in New York, U.S. Scott Mlyn | CNBC AT&T announced Saturday that it is investigating an incident two weeks ago that led to millions of customers’ data being published on the dark web, a portion of the Internet that can only be accessed using special software. The company has reset the passcodes of the 7.6 million current users who were impacted and said it is actively contacting those customers, along with the 65.4 million former account holders who also had their data compromised. “As of…

Generative AI 'FOMO' is driving tech heavyweights to invest billions of dollars in startups

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[ad_1] Microsoft CEO Satya Nadella, right, greets OpenAI CEO Sam Altman during the OpenAI DevDay event in San Francisco on Nov. 6, 2023. Justin Sullivan | Getty Images News | Getty Images Tech giants aren’t doing much acquiring these days, due mostly to an unfavorable regulatory environment. But they’re finding other ways to spend billions of dollars on the next big thing. Amazon’s $2.75 billion investment in artificial intelligence startup Anthropic, announced this week, was its largest venture deal and the latest example of the AI gold rush that’s prompting…

Best Buy offers to screen LGBTQ nonprofit donations after conservative pressure, filing shows

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[ad_1] Best Buy offered to screen donations from its employee resource groups going to LGBTQ causes following pressure from a conservative think tank that holds shares in the company, according to a Securities and Exchange Commission filing made public this week. The SEC filing contains a months-long email exchange between the National Center for Public Policy Research, which describes itself as a “nonpartisan, free-market conservative think tank,” and Best Buy. The dialogue, which hasn’t been previously reported, shows how the center said it would make “a splash” unless the consumer electronics giant moved…

Walgreens tops quarterly revenue estimates, but narrows profit outlook in 'challenging' economy

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[ad_1] A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021.  Andrew Kelly | Reuters Walgreens on Thursday reported fiscal second-quarter sales that beat Wall Street’s expectations, but lowered the high end of its full-year adjusted earnings outlook in part due to a “challenging” retail environment in the U.S. The company also posted a steep net loss for the quarter as it recorded a hefty nearly $6 billion charge related to the decline in value of its…

Class bullies may earn more in middle age(7), study finds

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[ad_1] Class bullies may earn more in middle age. A boy cries in a school playground. A new British study has found that some behaviours considered problematic in childhood can lead to higher salaries later in life.  Juanmonino | E+ | Getty Images School bullies are likely to end up with higher salaries, a new study suggests, upending the conventional wisdom that they will receive their comeuppance later in life. Research published earlier this month by the U.K.’s Institute for Social and Economic Research found that children who exhibited certain…

Boeing CEO Dave Calhoun to step down; board chair and commercial airplane head replaced in wake of 737 Max crisis

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[ad_1] Boeing CEO Dave Calhoun speaks to reporters as he departs from a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC.  Anna Moneymaker | Getty Images Boeing CEO Dave Calhoun will step down at the end of 2024 in part of a broad management shakeup for the embattled aerospace giant. Chairman of the board Larry Kellner is also resigning and will leave the board at Boeing’s annual meeting in May. He has been replaced as chair by Steve Mollenkopf, who…

As Trump's $454 million fraud judgment deadline looms, son Eric gripes 'they want to bankrupt him'

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[ad_1] Former U.S. President Donald Trump speaks to the media after voting at a polling station setup in the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida.  Joe Raedle | Getty Images Donald Trump faces the severe risk that New York‘s attorney general will begin trying to collect a $454 million civil business fraud judgment against him on Monday unless an appeals court gives the former president a last-minute reprieve. Trump’s son Eric, a co-defendant in the fraud case, accused Attorney General Letitia James…