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New Rolls-Royce CEO Warns Employees Of 'Last Chance' To Change, Resulting In Sump In Company Stocks

The aerospace company and Britain's top blue-chip engineering group Rolls-Royce, issued a warning to employees that the firm was a "burning platform", according to its CEO, which resulted in the stocks of the company falling by as much as 4% on Friday.    According to a report...

$8 Billion Wiped Off From Market Value Of Intel In A 'Historic Collapse'

The much worse than expected results and dismal earnings projections compared to expectations of Wall Street resulted in the stocks of the semiconductor chip giant Intel being routed as the company lost about $8 billion from its market value on Friday. The results reported by Intel resulted in...

Tesla And Insurers Adopt Different Approaches To Dealing With Costly Repairs

Tesla Inc's electric vehicles are expensive to repair, so the automaker and insurers are approaching the issue in diametrically opposed ways.   Elon Musk, Tesla's CEO, has stated that the company is making design and software changes to its vehicles in order to reduce repair costs and...

Adani Group Of India Has Been Hit By A $48 Billion Stock Rout, Blurring A Record Share Sale

Adani Enterprises' shares fell 20% on Friday after a damning report by a US short seller sparked a sweep in the conglomerate's listed firms, raising questions on how investors will react to the company's record $2.45 billion secondary offer.   Seven listed Adani conglomerate...

Ford Will Lay Off Up To 3,200 European Workers, According To A Union That Has Vowed To Fight Back

The United States-based automaker Ford Motor Co will be cutting down up to 3,200 jobs throughout its operations in Europe and moving development work for some of its products to the United States, according to Germany's IG Metall union, which has threatened to call a strike if the company goes...

22% Drop In Quarterly Sales For Logitech Due To Growing Concerns Among Consumers Of A Slowdown

The total sale revenues for the third quarter for Logitech International dropped by 22%, the tech giant reported on Tuesday. The results were in line with the preliminary results that depicted that the business customers of the company were postponing buying of new equipment because of their...

China’s Geely Intends To Transform The Manufacturer Of London Black Cabs Into An EV Powerhouse

China's electric car company Geely is contemplating making a large investment to transform the manufacturer of London's iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, according to reports quoting executives at Geely  ...

Goldman Sachs Will Reduce Asset Management Investments That Were Weighing On Earnings

According to a report published by the news agency Reuters, Goldman Sachs Group Inc's asset management divisions is planning to significantly bring down the $59 billion in alternative investments that have negatively impacted the weighed on the bank's earnings.  ...

$35 Billion To Be Invested In Virginia By Amazon Web Services

The cloud services business unit of the retailing giant Amazon.com Inc has announced that it is contemplating making an investment of an additional $35 billion in data centers in Virginia by 2040.   Amazon Web Services (AWS) stated that the new streak of its investment will...

Almost $700 Million Seized From FTX Founder Bankman-Fried By The US Fed

According to a reports quoting information from a court filing, federal prosecutors seized almost $700 million in assets from FTX founder Sam Bankman-Fried in January, primarily in the form of Robinhood stock.   Bankman-Fried has pleaded not guilty to fraud charges after being...

Promotional Video Of Tesla Was Faked By The Firm, Says Company Engineer

According to testimony from a senior engineer, a 2016 video that was used by Tesla for promoting its self-driving technology was a staged one aimed at showcasing the capabilities such as stopping a car at a red light and speeding at a green light which...

Microsoft Will Axe Thousands Of Jobs In Multiple Divisions, According To Reports

Thousands of layoffs is being planned by Microsoft Corp and the tehc giant wants to completely eliminate some positions in the human resources and engineering divisions, according to media reports published recently.   The expected layoffs would be the latest in the United States' technology...
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