Alibaba Group Holding’s recent decision to split its US$257 billion business empire into six independently-run units has been largely welcomed by investors, but internally, some employees are worried about the future of less profitable departments and job security. The Hangzhou-based tech giant last week announced its …
Volkswagen recently announced plans to invest $193 billion to make every fifth vehicle it sells electric by 2025. More than two-thirds of the money will go toward software, battery factories, and other investments. At a Tuesday media event, the New York Times reports that Arno Antlitz, …
Paramount Global said it saw its streaming business grow during the fourth quarter, and announced plans to increase prices for Paramount+ this year. Despite adding more streaming customers, Paramount reported its fourth-quarter revenue declined 7%, compared with last year, to roughly $5.9 billion as the weak …
Lifestylevisuals | E+ | Getty Images It may come as no surprise that among millennials who have intended to buy a house this year, 92% said in a recent survey that inflation has impacted their goal. Yet most of them aren’t letting it serve as a …
As a kind of apology for all of this, President Biden wants to lop up to $20,000 off the federal student loan balances of people who earn no more than $125,000 a year ($250,000 if you’re married). Eyebrows up at the break for this six-figure crew, …
The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company’s Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. Bloomberg | Bloomberg | Getty Images British oil major Shell on Thursday reported that quarterly profits more than doubled from …
(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 …
The Biden administration plans to expand export restrictions for U.S. chip companies to China, according to a new report. Reuters reported Sunday night that the new curbs on artificial-intelligence semiconductors and chip-making tools will be based on restrictions issued earlier this year in letters to KLA …
Schwab Private Client to be renamed Schwab Wealth Advisory WESTLAKE, Texas–(BUSINESS WIRE)– Charles Schwab & Co., Inc., today announced plans to change the name of its premier advisory solution, which made its debut two decades ago. Next month, Schwab Private Client (SPC) will be renamed Schwab …
(Bloomberg) — Electric Last Mile Solutions Inc. said it plans to liquidate through a Chapter 7 bankruptcy process, a decision that comes almost one year after the electric-vehicle startup went public and just four months after both its chief executive officer and chairman resigned. Most Read …
