(Bloomberg) — Google’s chief executive officer told employees on Monday that job cuts were made in a bid to act decisively as the company’s growth slowed. Most Read from Bloomberg In an internal meeting, Sundar Pichai, who is CEO of Google parent Alphabet Inc., said he had consulted with theContinue Reading
(Bloomberg) — Intel Corp. is planning a major reduction in headcount, likely numbering in the thousands, to cut costs and cope with a sputtering personal-computer market, according to people with knowledge of the situation. Most Read from Bloomberg The layoffs will be announced as early as this month, with theContinue Reading
In this photo illustration a silhouette of a man holding a medical syringe and a vial seen displayed in front of the Novavax logo on a screen. Cezary Kowalski | Lightrocket | Getty Images Novavax deeply cut its full-year revenue guidance Monday, with no new Covid-19 vaccine sales expected forContinue Reading
Workhorse Group stock tumbled on Tuesday after the electric-van manufacturer said it expects to sell fewer vehicles than previously expected and cut its revenue guidance for the full year. Workhorse (ticker: WKHS) said in its second-quarter earnings release that “assuming supply chain lead times remain unchanged,” it now expects toContinue Reading
In China, people typically buy apartments before they are completed. Pictured here on June 28, 2022, are unfinished residences in Nanning, Guangxi Zhuang Autonomous Region. Future Publishing | Future Publishing | Getty Images BEIJING — Goldman Sachs has cut its forecast for the MSCI China index due to a worseningContinue Reading
A Verizon store in San Francisco, California, U.S., on Tuesday, July 20, 2021. Bloomberg | Getty Images Shares of Verizon fell Friday after the company reported second-quarter earnings that fell shy of expectations and trimmed its financial forecast for the year. “Although recent performance did not meet our expectations, weContinue Reading
The Asian Development Bank has cut its growth forecast for China due to concerns over the country’s zero-Covid approach and strict lockdowns, which put even more pressure on the real estate sector. Gross domestic product growth for the world’s second largest economy is expected to be at 4% in 2022,Continue Reading
Daniel Acker | Bloomberg | Getty Images More home sellers are dropping their asking prices as rising mortgage interest rates and inflation have eased competition in the housing market. Some cities are seeing more price cuts than others. Boise, Idaho, took the lead in June, with 61.5% of sellers cuttingContinue Reading
(Bloomberg) — US cities that saw some of the biggest jumps in home prices during the pandemic now have the largest shares of price cuts, according to data compiled by Zillow Group Inc. Most Read from Bloomberg Overall, the proportion of active real estate listings with lower prices has increasedContinue Reading
Sale signs inside the Bath and Body Works store in Edmonton. On Thursday, January 6, 2022, in Edmonton, Alberta, Canada. Artur Widak | Nurphoto | Getty Images Bath & Body Works shares fell in after-hours trading Wednesday after the retailer cut its profit outlook for the year, in part dueContinue Reading