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☆ Banned political ads found on TikTok weeks ahead of 2024 election
▼ + stars: | 2024-09-23 | by ( Victoria Feng | Victoria Feng Is An Intern On The Nbc News Technology Desk. | ) www.nbcnews.com time to read: +7 min

TikTok has banned all political advertising on the app since 2019, but that hasn’t stopped advertisers from running what appear to be paid political messages on the platform. According to TikTok, the company does “not allow ads featuring political content across any of our monetization features, including paid ads, creators being paid to make branded political content, and other promotional tools on the platform.”TikTok stands apart among its big tech peers in banning political ads — Facebook, Instagram, X and Google all allow political advertisements. The continued presence of political ads on TikTok illustrates the difficulties in patrolling its own platform just weeks ahead of the 2024 presidential election and amid the court proceedings over its potential ban. The findings come as recent research shows that political ads on social media platforms are often filled with misinformation. There were no obvious signs of misinformation among the TikTok videos NBC reviewed.

Persons: TikTok, hasn’t, ”, Vincent Raynauld, “, There’s, ActBlue, Tom Steyer, Jordan Chiles, Shelby Purdum, Republicans ’, Laura Edelson, Blake Chandlee, Edelson Organizations: NBC News, Facebook, Google, NBC, Emerson College, ActBlue, Democratic, Republicans, Social, Northeastern University, BBC, Commission, FEC Locations: U.S, Russia, China, Iran, United States, TikTok, NextGen America, ”

☆ Influencer app Node's $13 million sale shows how central tech and AI have become to talent management
▼ + stars: | 2024-09-17 | by ( Dan Whateley | ) www.businessinsider.com time to read: +4 min

Read previewThe talent-management agency Dulcedo Group acquired the influencer-marketing app Node in a July deal that valued the company at around $13 million, Node's cofounders told Business Insider. The deal shows how important tech products, including artificial-intelligence tools, have become in the talent and marketing industries. Founded in 2008 as an agency for more traditional media talent, Montreal-based Dulcedo Group has recently been on a buying spree, announcing in November it acquired creator talent agency Influence+All and PR firm Sundae Creative. Related storiesThe cofounders ultimately connected with Dulcedo Group, which put in an offer to acquire Node. Dulcedo Group was drawn to the company's technological expertise and roster of micro influencers, Faraji told BI.

Persons: —, Node's cofounders, Cofounders Armin Faraji, Mackenzie Dérival, Faraji, Stagwell, Dérival, they're, It's Organizations: Service, Dulcedo Group, Business, Publicis, Stagwell, Sundae Locations: Montreal, Dulcedo

☆ Amazon tells employees to return to office five days a week
▼ + stars: | 2024-09-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +12 min

Amazon is instructing corporate staffers to spend five days a week in the office, CEO Andy Jassy wrote in a memo on Monday. The decision marks a significant shift from Amazon's earlier return-to-work stance, which required corporate workers to be in the office at least three days a week. Amazon's headcount totaled 1.53 million employees in the second quarter, representing growth of just 5% from a year earlier. If anything, the last 15 months we've been back in the office at least three days a week has strengthened our conviction about the benefits. Before the pandemic, not everybody was in the office five days a week, every week.

Persons: Andy Jassy, they've, Jassy, didn't, Amazon's headcount, it's, we're, I've, we've, It's, Andy Organizations: Amazon, Healthcare, U.S, Puget Sound Locations: NYC, Arlington, Europe

☆ How I'm approaching the stock market after its wild reversal to start September
▼ + stars: | 2024-09-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

The week before, Broadcom had allegedly disappointed, causing Nvidia , the inevitable key to this market, to continue its descent. Which brings me back to the initial concept of the big declining week followed by the big advancing week. A good week for Kamala Harris turns out to be a big week for Nextracker — and that's really it for now. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Larry Ellison, Ellison, Cerner, Ellison's, Eaton, Jensen, Bing, Microsoft's Bing, underinvesting, Huang, Blackwell, Dupont, Kamala Harris, Nextracker, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nasdaq, Federal, Broadcom, Nvidia, Oracle, Marvell, Meta, Microsoft, Google, mightily, Street, Fed, Dreamforce, downer, Adobe, JPMorgan, Healthcare, pharma, Jim Cramer's Charitable, CNBC Locations: Silicon Valley, San Francisco

☆ Dutch neobank Bunq goes on hiring spree, targeting digital nomads, as other fintechs slash jobs
▼ + stars: | 2024-09-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Dutch digital bank Bunq is plotting re-entry into the U.K. to tap into a "large and underserved" market of some 2.8 million British "digital nomads." "Bunq focusses on digital nomads who tend to roam the world," Ali Niknam, Bunq's CEO and co-founder, told CNBC via emailed comments. And in the U.K., Bunq is awaiting a decision from financial regulators on an application to become a licensed e-money institution, or EMI. Many of these positions will be part of a "tailored digital nomad" program that allows staff to work from anywhere in the world, Bunq said. Bunq earlier this year reported its first full year of profitability, generating 53.1 million euros ($58.51 million) in net profit in 2023.

Persons: Pavlo Gonchar, Bunq, Britain's, Ali Niknam, Niknam, Coinbase, Klarna, Bunq's Niknam Organizations: Getty Images, CNBC, European Union, U.S, EMI, PayPal Locations: United States, Amsterdam, Sofia, Istanbul, Munich, Paris, Dublin, Madrid, London, New York City

☆ Samsung Electronics plans global job cuts of up to 30% in some divisions: Reuters, citing sources
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +3 min

Samsung Electronics, the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. The sources declined to be named because the scope and details of the job cuts remained confidential. Samsung Electronics , the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. The job cuts come as Samsung grapples with mounting pressure on its key units. One of the sources familiar with the plans said the job cuts were being made in preparation for a slowdown in global demand for technology products as the global economy slows.

Persons: Samsung's, Samsung Organizations: Samsung Electronics, Reuters, Samsung, Manufacturing, South Korean, SK Hynix, Apple, Huawei Locations: Americas, Europe, Asia, Africa, South Korea, India, China

☆ UAW, U.S. dealers increase criticism of Stellantis CEO over cuts, sales declines
▼ + stars: | 2024-09-12 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

David Dee Delgado | ReutersDETROIT – Stellantis ' U.S. dealer network has joined the United Auto Workers union in criticizing CEO Carlos Tavares for the company's recent sales declines, factory production cuts and other decisions they deem detrimental to the automaker's business. "The market share of your brands has been slashed nearly in half, Stellantis stock price is tumbling, plants are closing, layoffs are rampant, and key executives fleeing the company. We will continue to work with our dealers to avoid any public disputes that will delay our ability to deliver results." Stellantis reported a record profit in 2023, but so far this year, the automaker reported a first-half net profit of 5.6 billion euros ($6.07 billion), down 48% from the same period of 2023. It's part of his "Dare Forward 2030" plan to increase profits and double revenue to 300 billion euros ($325 billion) by 2030.

Persons: Carlos Tavares, David Dee Delgado, Tavares, Kevin Farrish, Farrish, Ford Stellantis, Stellantis, Shawn Fain, Kamala Harris, Tim Walz, Rebecca Cook Organizations: New York, Auto, Reuters DETROIT, United Auto Workers, Chrysler, Dodge, Investor, Bloomberg, Stellantis, GM, Fiat Chrysler, France's PSA Groupe, UAW, U.S, Democratic Locations: Manhattan , New York, U.S, Virginia, Romulus , Michigan

☆ Amazon is opening Fresh supermarkets after yearlong stall — but many locations remain vacant
▼ + stars: | 2024-09-11 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +9 min

In this article AMZN Follow your favorite stocks CREATE FREE ACCOUNTWorkers stock shelves at an Amazon Fresh grocery store in Seattle, Washington, US, on Thursday, May 2, 2024. As part of the Fresh store redesign, Amazon created a more colorful layout and added Krispy Kreme donut and coffee stalls. "We like the early results a lot," Jassy said on the company's first-quarter earnings call in April, referring to the revamped Fresh stores. Amazon declined to comment on the status of the Fresh stores that remain unopened. "You walk into the Amazon Fresh store in Roseville and it feels like you're in a stainless steel wine cellar," Thill said.

Persons: David Ryder, Joe Knowles, Bensalem, it's, Andy Jassy's, Jassy, CNBC it's, It's, Ted Weill, AlbaneseCormier, Weill, they've, Brent Thill, Thill Organizations: Amazon, Bloomberg, Getty, CNBC, Foods, Walmart, Jefferies, Anadolu, Mart, Shoppers, Aldi, Rancho Mirage Locations: Seattle , Washington, US, Philadelphia, Bensalem , Pennsylvania, California , Illinois, Maryland , New Jersey, Virginia, Illinois, California, Amazon's, U.S, Woodland, Los Angeles, San Mateo , California, United States, Pennsylvania , New Jersey , New York , Florida, Washington, Florida, Mirage , California, Palm Springs, Italian, Sacramento, Roseville, Amazon

☆ Willo, a recruitment tech startup, just raised funding from Mimecast's former CEO using this 19-slide pitch deck
▼ + stars: | 2024-09-11 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Founded in 2018, Willo provides companies in over 180 countries with technology to conduct and process video interviews for job candidates. This story is available exclusively to Business Insider subscribers. During the COVID-19 pandemic, it pivoted to become a solution for hiring remotely using video technology. The company offers one-way recorded video interviews to help employers get what it describes as unbiased and consistent responses from candidates. "We've grown into a more mature product now, with companies able to interview in many different ways," Euan McCameron, CEO at Willo, told Business Insider.

Persons: —, Willo, Euan McCameron, We're, McCameron, Peter Bauer Organizations: Service, Willo, Prada, Samsung, Toyota, Business Locations: Glasgow, Scotland

☆ There's tons of hiring activity in media ad sales right now, but there's a catch
▼ + stars: | 2024-09-09 | by ( Lucia Moses | Lara O'Reilly | ) www.businessinsider.com time to read: +8 min

While it might look like there's a flurry of advertising hiring, industry insiders say the reality is more sobering. AdvertisementLegacy media companies have sharply cut staff in recent years, including sales, and those jobs aren't coming back. Disney has said it plans to automate half its ad sales. "The number of good job opportunities are few and far between because the large media companies are not hiring as quickly. "Ad sales is no longer ad sales," said Gary Stolkin, global CEO of The Talent Business, a global executive search firm specializing in the creative industries.

Persons: —, they've, Jean, Paul Colaco, aren't, Dave Morgan, Lisa Valentino, David Lawenda, David Zaslav, David Ellison's, Christopher Vollmer, Simon Francis, Peter Naylor, Brian Lesser, Lesser, WPP's, Roku, Harry Kargman, Kargman, Krishan Bhatia, Gary Stolkin, Stolkin, who's Organizations: Service, Netflix, Business, Disney, Paramount, Warner Bros, NBA, Companies, MediaLink, TV, Media, Flock Associates, Progressive, Mobile, The Talent Locations: Teads, NBCUniversal

☆ 3 ways Wall Street's largest banks are leveraging AI to increase profitability
▼ + stars: | 2024-09-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Over the past year, Wall Street's largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. MS YTD mountain Morgan Stanley YTD AI use cases for key businesses Morgan Stanley was among the first on Wall Street to publicly embrace the technology, unveiling two AI assistants for financial advisors powered by OpenAI. Launched in September 2023, the AI @ Morgan Stanley Assistant gives advisors and their staff quick answers to questions regarding the market, investment recommendations, and various internal processes. If it does, that would be welcome news for shareholders after Morgan Stanley's wealth segment missed analysts' revenue expectations in the second quarter . However, As long as these costs don't outweigh return on investment (ROI), we're happy with Wells Fargo and Morgan Stanley's moves to innovate.

Persons: Goldman Sachs, Morgan Stanley, Wells, JPMorgan Chase — ramped, Jamie Dimon, Alexandra Mousavizadeh, OpenAI's ChatGPT, Jeff McMillan, Morgan, McMillan, It's, Morgan Stanley's, Evident's Mousavizadeh, Banks, Mousavizadeh, Tracy Kerrins, Morgan Stanley's McMillan, He's, Morgan Stanley's OpenAI, Teresa Heitsenrether, Jim Cramer's, Jim Cramer, Jim Organizations: Bank of America, JPMorgan, Citi, Microsoft, Nvidia, OpenAI, CNBC, Google, Deutsche Bank, BNP, Mistral, TD Bank Group, Big, Wall, New York Stock Exchange, Bloomberg, Getty Locations: Wells Fargo, Silicon, management's, Wells, New York

☆ U.S. airlines cool hiring after adding 194,000 employees in post-Covid spree
▼ + stars: | 2024-09-06 | by ( Leslie Josephs | ) www.nbcnews.com time to read: +5 min

U.S. passenger airlines have added nearly 194,000 jobs since 2021 as companies went on a hiring spree after spending months in a pandemic slump, according to the U.S. Department of Transportation. It’s a departure from the previous years when airlines couldn’t hire employees fast enough. U.S. airlines are usually adding pilots constantly since they are required to retire at age 65 by federal law. Then, travel demand snapped back faster than expected, climbing in earnest in 2022 and leaving airlines without experienced employees like customer service agents. “We will be hiring for the foreseeable future at levels like that,” he said at the time.

Persons: Kit Darby, they’ll, Raymond James, Savanthi, Tammy Romo, Robert Isom, “, ”, Ken Byrnes Organizations: U.S . Department of Transportation, Airlines, Boeing, Airbus, U.S, American Airlines, United Airlines, Delta Air Lines, Southwest Airlines, JetBlue Airways, Spirit Airlines, Pratt & Whitney, Frontier Airlines, Dallas, ”, ” United Airlines, —, FedEx, UPS, American, Embry, Riddle Aeronautical University Locations: U.S, ” United

☆ America has the fewest jobs available since January 2021
▼ + stars: | 2024-09-04 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

CNN —The number of available jobs in the US shrank more than expected in July, an indication that demand for workers continues to wane amid a cooling labor market. Wednesday’s data is the first in a series of critically important economic metrics released this week about the US labor market, culminating with the Friday jobs report. As the labor market has slowed, it’s come back into balance: There are now nearly 1.1 jobs available for every person looking for one. The monthly jobs report for July showed gains of just 114,000 — far below expectations — and the unemployment rate shot to 4.3% from 4.1%. Separately, annual labor market data revisions showed job gains for the year ending March 2024 were less robust than initially thought.

Persons: “, ” Oliver Allen, ”, it’s, hasn’t, ” Allen, Robert Frick, ” Frick, ” ‘ Haggard, haggard, Noah Yosif, ” Julia Pollak, ZipRecruiter’s, ” Pollak, Wednesday’s, they’ve Organizations: CNN, Bureau of Labor Statistics, Federal Reserve, Labor, Pantheon Macroeconomics, Federal, Navy Federal Credit Union, American Staffing Association, ZipRecruiter

☆ Workday stock gains as software provider widens 2027 margin target
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Subscription revenue growth grew 17%. With respect to guidance, Workday is now looking for an adjusted operating margin of 25.25% in the 2025 fiscal year, compared with the 25% forecast it provided in May. In September 2023, Workday said it was targeting a 25% adjusted operating margin for fiscal year 2027 and subscription revenue growth between 17% and 19%. Deutsche Bank analysts led by Brad Zelnick increased their 12-month price target on Workday stock to $275 from $265. "The increased 30% operating margin target was the big upside surprise as it is now committed both sooner and greater than most were expecting," the analysts wrote.

Persons: Carl Eschenbach, Zane Rowe, Rowe, We're, Brad Zelnick, Piper Sandler, Jerome Powell, Carl Eschenbach didn't, Julie Biel Organizations: Deutsche Bank, Citi, Evercore ISI, Computing Fund Locations: Davos, Switzerland

☆ The startup landscape for deals is drastically changing
▼ + stars: | 2024-08-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how the startup landscape is drastically changing thanks to the entrance of private-equity firms and the rise of acquihires . Private equity is filling the gap left by a frozen IPO market and corporates unwilling or unable to cut deals, writes Business Insider's Melia Russell. Perhaps most importantly, a PE deal means equity holders get cash immediately, unlike an IPO that has some holding periods. Acquihires where the brains behind buzzy AI startups sell themselves (instead of the entire company) to bigger players are in vogue, writes BI's Ben Bergman and Sri Muppidi. Depreciation costs to massive GPU chip investments pose a huge risk for AI companies .

Persons: —, You've, Alyssa Powell, Insider's Melia Russell, shivers, Samantha Lee, BI's Ben Bergman, Sri, acquihires, they'll, VCs, it's, Taylor Swift, Tyler Le, Fisker, Zuck, Elon Musk's, Mark Zuckerberg, Jenny Chang, Rodriguez, Biden, Donald Trump, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Amanda Yen Organizations: Service, Business, SV Getty, Tech, guardrails, Character.AI, Getty, UBS, Mega, Revenue Locations: Europe, New York, London

☆ Stellantis laying off 2,450 plant workers due to discontinuation of Ram 'Classic' pickup truck
▼ + stars: | 2024-08-09 | by ( Michael Wayland | ) www.nbcnews.com time to read: +2 min

DETROIT — Automaker Stellantis plans to indefinitely lay off up to 2,450 U.S. factory workers later this year as it discontinues production of an older version of its Ram 1500 pickup truck in Michigan. It is produced alongside the Jeep Wagoneer and Grand Wagoneer at the Warren Truck Assembly Plant, located near Detroit. The current Ram 1500, which was recently updated for the 2025 model year, is produced at a nearby plant. “With the introduction of the new Ram 1500, production of the Ram 1500 Classic at the Warren [Michigan] Truck Assembly Plant will come to an end later this year,” the company said in an emailed statement. The discontinuation of the Ram 1500 “Classic” vehicle is not unexpected, but the company has not announced a vehicle to replace the truck.

Persons: Ram, Chris Feuell, Carlos Tavares Organizations: DETROIT, Warren, Assembly, United Auto Workers union, CNBC, Fiat Chrysler, France’s PSA Groupe Locations: Michigan, Detroit, Warren

☆ Paramount to lay off 15% of staff amid brutal period in media
▼ + stars: | 2024-08-08 | by ( Liam Reilly | Jon Passantino | ) edition.cnn.com time to read: +3 min

New York CNN —Paramount Global, the storied media conglomerate, announced Thursday it will lay off 15% of its US staff and write down $6 billion in value of its cable television networks as it prepares to merge with Skydance Media. Discovery, the parent company of CNN, TNT, HGTV and other cable networks, posted a $9.1 billion write down on its television business. “And this impairment acknowledges this.”The recent turbulence in the media business extends well beyond the traditional television industry, affecting digital news outlets and print publications. As profits in the television business have eroded away, Paramount has been hit particularly hard. Paramount said its streaming service Paramount+ posted a $26 million profit after losing $424 million during the same period last year and said it expects subscriber growth in the second half of the year.

Persons: David Ellison’s SkyDance, Chris McCarthy, “, ”, David Zaslav, Axios, Jim VandeHei Organizations: New, New York CNN, Paramount Global, Skydance Media, Paramount, Warner Bros, CNN, TNT, HGTV, Broadcasting, Cable, Nickelodeon, Comedy Central, MTV, Discovery, HBO, Max Locations: New York

☆ Amazon is raising its hiring bar for some tech jobs
▼ + stars: | 2024-08-06 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Read previewAmazon is raising its hiring bar. Bar raisers have long been a peculiar part of Amazon's hiring process. But Amazon removed bar raiser interviews for entry-level engineering jobs and some non-engineering roles in recent years, in part due to the pandemic-fueled hiring boom, BI previously reported. Related storiesBy resuming the bar raiser program, Amazon is adding an additional 60-minute step to the interview process for these jobs, the memo said. Amazon will also share any interview process changes with the Bar Raiser Core Community and request their opinions on those changes.

Persons: —, We're, Margaret Callahan Organizations: Service, Business, Amazon, Amazon University Talent, BI, Core Locations: Americas, Asia, Europe

☆ How to cut your wedding guest list, according to experts: It's 'the No. 1 way to save money'
▼ + stars: | 2024-08-03 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +6 min

1 way to save money on your wedding is to cut the guest count," Shane McMurray, CEO and co-founder of The Wedding Report, recently told CNBC. "What we saw was that the pandemic gave people permission to have a tiny wedding," Miller said. In 2023, the average guest list was 134, The Wedding Report found. Here are ways experts suggest reducing your wedding guest list without cutting ties with family and friends in the process:1. Choosing a more intimate venue with a smaller capacity can help you maintain a solid guest list limit, experts say.

Persons: Victor Dyomin, Shane McMurray, Lauren Miller, Miller, Jessica Bishop, that's, Shannon Tarrant, Tarrant, Bishop, We're, Shannon Underwood, Underwood Organizations: CNBC, Washington , D.C, Finance, Wedding Merchants Business Academy Locations: Washington ,, Baltimore , Maryland, Florida, Orlando , Florida

☆ Tech stocks wrap up steepest three-week slump in two years, led by plunge in Amazon and Intel
▼ + stars: | 2024-08-02 | by ( Ari Levy | ) www.cnbc.com time to read: +6 min

Amazon and Apple both reported earnings on Thursday, with Amazon missing on revenue and issuing a disappointing forecast and Apple showing top-line growth of just 5%. The one mega-cap tech company that's yet to release results is Nvidia, which has been the biggest winner in the AI boom. The stock is down 17% over the Nasdaq's three-week slump, though it's still up more than 110% for the year. Intel reported a big earnings miss and announced a mass restructuring that includes eliminating 15% of its staff. CEO Pat Gelsinger told CNBC on Friday that it's the "most substantial restructuring of Intel since the memory microprocessor transition four decades ago."

Persons: Stephanie Keith, Josh Koren, Koren, CNBC's, Brian Olsavsky, Meta, Mark Zuckerberg, Zuckerberg, it's, Pat Gelsinger, INTC, Bernstein Organizations: Nasdaq, Bloomberg, Getty, Labor Department, Musketeer Capital Partners, Apple, Amazon, Microsoft, Mizuho, Meta, Wall, Nvidia, Intel, CNBC, KeyBanc, Markets Locations: New York, freefall, U.S

☆ Moderna stock falls more than 10% as it slashes guidance on low EU sales, tough U.S. vaccine market
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

It's Moderna's second-ever commercially available product after its Covid vaccine, which has seen demand plunge as the world emerges from the pandemic and relies less on protective shots and treatments. He added that "we've been having quite intense discussions with governments across Europe" to get Covid vaccine supply from Moderna. He is referring to the European Union's massive renegotiated Covid vaccine supply contract with Pfizer and its German partner BioNTech . Its shares are up nearly 20% this year on increasing confidence around its pipeline and messenger RNA platform, which is the technology used in its Covid vaccine and RSV shot. Moderna is also developing a stand-alone flu shot, a personalized cancer vaccine with Merck and shots for latent viruses, among other products.

Persons: It's Moderna's, Stephane Bancel, we've, Bancel, BioNTech, Moderna, I'm Organizations: Moderna Inc, Moderna, Pfizer, GSK, LSEG, Wall, Research, Merck Locations: Cambridge , Massachusetts, Europe, U.S, Moderna, Ukraine

☆ Intel to cut 15% of headcount, reports quarterly guidance miss
▼ + stars: | 2024-08-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

The company had a $1.61 billion net loss, or 38 cents per share, compared with net income of $1.48 billion, or 35 cents per share, in the year-ago quarter. For the fiscal third quarter, Intel called for an adjusted net loss of 3 cents per share on $12.5 billion to $13.5 billion in revenue. The LSEG consensus was adjusted net earnings of 31 cents per share and $14.35 billion in revenue. During the fiscal second quarter, Intel announced that Apollo would invest $11 billion in a joint venture around a chip manufacturing plant in Ireland. On an adjusted basis, Intel said it expects around $20 billion in cuts this year, $17.5 billion in 2025 and more in 2026.

Persons: Pat Gelsinger, Bill Baruch Organizations: Intel, Computing, StreetAccount, Intel's Data, Apollo, Gaudi, U.S . Commerce Department, Huawei Locations: Taipei, Ireland, China

☆ Amazon projected huge losses from its healthcare business in 2024, but strong sales growth, internal document reveals
▼ + stars: | 2024-07-30 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

Read previewLate last year, Amazon projected its healthcare businesses to lose more than $1 billion for 2024, according to an internal planning document obtained by Business Insider. Although the company doesn't breakout financials on the healthcare business, investors will be looking for signs of success when it reports results on Thursday. That was mostly thanks to Amazon Pharmacy, which was projected to generate $1.81 billion in 2024 sales, a 45% surge. Amazon healthcare is slowing investments in smaller initiatives by delaying hiring for certain projects and reducing contractor spend, it added. It's upgrading the signup process, such as insurance card capture technology, and simplifying the linking between One Medical and Amazon Pharmacy accounts.

Persons: —, Andy Jassy, Brand, Neil Lindsay, It's Organizations: Service, Business, Amazon, Pharmacy, Amazon Health Services, Tech, Amazon Pharmacy, Health Services, Health, Amazon Clinic, Google

☆ Stellantis to offer broad buyouts to U.S. salaried workers, warns of possible layoffs
▼ + stars: | 2024-07-30 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

CEO of auto giant Stellantis Carlos Tavares speaks to journalists during a joint media event by Stellantis and Leapmotor in Hangzhou, in eastern China's Zhejiang province on May 14, 2024. DETROIT – Automaker Stellantis plans to once again reduce its U.S. employee headcount through a broad voluntary buyout, as the company attempts to reduce costs and boost profits. The company, which reported disappointing first-half results last week, said if not enough employees participate in the buyout program, involuntary terminations could follow. Stellantis confirmed the buyout program, which was first by Automotive News, early Tuesday afternoon. Stellantis last conducted a voluntary buyout program in November, offering the deals to roughly half of its U.S. white-collar employees.

Persons: Carlos Tavares, headcount, Stellantis, excessiveness, Tavares Organizations: DETROIT –, U.S, Automotive News, Fiat Chrysler, France's PSA Groupe, CNBC Locations: Leapmotor, Hangzhou, China's Zhejiang province, Italy

☆ Tesla stock has 40% upside as a 'top pick' as it corners the EV-credit market, Morgan Stanley says
▼ + stars: | 2024-07-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Tesla stock will soar 40% as it dominates the zero-emission vehicle-credit market, according to Morgan Stanley. Tesla's cost-cutting initiatives and energy business growth are key drivers of the firm's bullish outlook. AdvertisementTesla stock is going to soar 40% over the next year as it corners the zero-emission vehicle-credit market, according to a Monday note from Morgan Stanley. "We anticipate other car companies such as GM and STLA may be wading more deeply into the ZEV market as buyers in the quarters ahead. Advertisement"We see potential for the Tesla Energy business to be worth more than the autos business," Jonas said.

Persons: Morgan Stanley, Tesla, —, Adam Jonas, Jonas, ZEV, Ford Organizations: Ford, Service, EV, Nasdaq, North, General Motors, Tesla Energy Locations: North America, Europe

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