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Dan Rosensweig, CEO, Chegg Scott Mlyn | CNBC Chegg said on Monday it would lay off about 45% of its workforce, or 388 employees, as the “new realities” of artificial intelligence and diminished traffic from internet search have led to plummeting revenue. The online education company, founded 20 years ago, has been hit by the […]
Novo Nordisk on Saturday said its diabetes pill Rybelsus showed cardiovascular benefits in a late-stage trial, paving the way for it to become a new treatment option for people living with diabetes and heart disease. The pill lowered the risk of cardiovascular-related death, heart attack and stroke by 14% compared to a placebo after four […]
Delta Air Lines planes are seen parked at Seattle-Tacoma International Airport on June 19, 2024 in Seattle, Washington. Kent Nishimura | Getty Images Delta Air Lines slashed its first-quarter revenue and profit outlooks, citing weaker domestic demand, backing up growing concerns about lackluster sales in some corners of the travel industry. Delta expects revenue in […]
Billionaire investor Bill Ackman increased his stake in sportswear company Nike by 15% and cut his investment in fast-casual food chain Chipotle Mexican Grill by 14%, during the fourth quarter, according to a regulatory filing made on Friday. Ackman’s firm Pershing Square Capital Management owned 18.8 million shares in Nike and 24.7 million shares in Chipotle, a […]
The World Artificial Intelligence Conference in Shanghai in July 2023. Aly Song | Reuters Alibaba is cutting prices on its large language models by up to 85%, the Chinese tech giant announced Tuesday. The Hangzhou-based e-commerce firm’s cloud computing division, Alibaba Cloud, said in a WeChat post that it’s offering the price cuts on its […]
Citigroup CEO Jane Fraser will slash the number of bankers getting year-end promotions as the Scottish-born executive looks to clamp down on costs, according to a report. Just 2,000 Citi employees can look forward to an early Christmas present of a pay raise and a more senior title, down from 8,000 in previous years, the […]
