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The Dow Jones Industrial Average plunged nearly 800 points Thursday as investors continued to panic over AI spending in the tech sector and hopes for an interest-rate cut next month diminished. The Dow fell 798 points, or 1.7% — its worst day in more than a month after notching a new record high just the […]
Meta on Wednesday said that it plans to cut approximately 600 jobs in its artificial intelligence division, according to a memo sent to employees that was relayed to The New York Times, as the company seeks to keep pace with competitors in the furious contest over the technology. The layoffs will be in Meta’s so-called […]
A Spirit Airlines Airbus A320 taxis at Los Angeles International Airport after arriving from Boston on September 1, 2024 in Los Angeles, California. Kevin Carter | Getty Images News | Getty Images Spirit Airlines CEO Dave Davis on Wednesday braced staff for more job cuts and said the carrier plans to slash its schedule in […]
U.S. President Donald Trump, U.S. Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr., Dr. Mehmet Oz, Administrator for the Centers for Medicare & Medicaid Services, David Sacks, AI & Crypto Czar and Amy Gleason, Acting Administrator, Department of Government Efficiency (DOGE) attend the “Making Health Technology Great Again” event in the East Room […]
Exxon Mobil signaled on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous quarter’s level. The earnings snapshot from the largest US oil producer is closely watched for clues on how the broader oil sector will fare when companies begin releasing quarterly results in a few weeks. Benchmark […]
Federal Reserve Vice Chair for Supervision Michelle Bowman said Monday she would support cutting interest rates as soon as next month, arguing that the inflationary impact of President Donald Trump’s trade war has been smaller than feared and that the US labor market is showing signs of weakness. Her comments align with those of fellow […]
Daily US users of PDD Holdings’ global discount e-commerce platform Temu fell by 58% in May, according to market intelligence firm Sensor Tower, one of many headwinds the e-retailer is facing amid a US-China trade war. Temu decided to slash ad spending in the US and shift its order fulfillment strategy after the White House on May 2 ended the practice known as “de […]
Walmart — the nation’s largest private employer — is cutting more than 1,000 corporate jobs as the company tries to lower its expenses and streamline decision-making as pressure from tariffs mounts. Walmart U.S. CEO John Furner and Walmart Global Chief Technology Officer Suresh Kumar said in a memo to employees on Wednesday that the company is reshaping […]
Stocks surged around the world after U.S. and Chinese officials said they agreed to temporarily suspend most of the tariffs they have imposed on each other. Futures for the S&P 500 suggested that U.S. stocks would open nearly 3 percent higher when trading begins in New York on Monday morning. Futures for the tech-heavy Nasdaq […]
President Trump’s executive order to defund NPR and PBS was met with fiery pushback on Friday, as the organizations challenged the legality of the move and said it could jeopardize access to vital information. The order issued late Thursday instructed the Corporation for Public Broadcasting, which receives and distributes over $500 million in taxpayer money […]
