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Indian Airline Go First Declares Bankruptcy And Attributes It To Its Pratt & Whitney Engines

Cash-strapped Go First, an Indian airline, declared bankruptcy on Tuesday, blaming the grounding of about half of its fleet on "faulty" Pratt & Whitney engines.   The move emphasises the strong rivalry in a sector dominated by IndiGo and the recent merger of Air India and Vistara under...

According To NPR, Its Twitter Account Could Be Reassigned, Musk Has Warned

Elon Musk, the founder of Twitter, has "threatened" to transfer National Public Radio's Twitter account to a different business, the American broadcaster claimed on Tuesday.   NPR said that Musk said he would give another company or individual control of the network's primary account, which...

BlackBerry Will Reconsider Strategic Alternatives For Its Business

The Canadian technology giant BlackBerry announced on Monday that it will evaluate its strategic options, which could include the potential separation of one or more of its divisions.   The company's US-listed shares increased by close to 11% in after-bell trade.   Pager manufacturer...

IBM Will Halt Hiring And Utilise AI To Replace 7,800 Positions

CEO of International Business Machines Corp. (IBM) Arvind Krishna stated that the company anticipates pausing hiring for positions that it believes artificial intelligence could replace in the upcoming years.   CEO of International Business Machines Corp. Arvind Krishna stated that the...

Amazon's Warning About Its Cloud Business Frightens The Market

Investors are concerned that growth in the profitable cloud business of Amazon.com Inc. is slowing.   As a result of Amazon's cloud division showing its worst quarterly growth since the company started separating the unit's sales in 2015, shares dropped by about 4% on Friday.   If...

Exxon And Chevron Disagree Over How To Handle Increasing Cash Hoards

Exxon Mobil Corp. and Chevron Corp., the two biggest U.S. oil firms, are raking in cash from booming oil and gas operations, but they disagree on what to do next.   On Friday, the pair reported first-quarter earnings that far exceeded Wall Street expectations. Analysts anticipate that Exxon...

Google Parent Company Reports Slight Ad Sales Growth And Announces Stock Buybacks

As demand for cloud services increased and ad sales performed better than anticipated, Alphabet Inc. said on Tuesday that it would repurchase $70 billion worth of stock and reported first-quarter profit and revenue beyond projections.   Investors applauded the buyback plan, driving shares of...

Disney Will Start Second Phase Of Job Cuts, Several Thousand Layoffs Expected

According to individuals familiar with the situation, Walt Disney will start a second round of layoffs on Monday that would affect thousands of employment as part of an effort to cut 7,000 jobs and save $5.5 billion in expenses.   According to Disney officials, the firm will eliminate...

GM And Ford Try To Persuade Investors There Won't Be A Price War With Tesla

When they report first-quarter profits this week, Detroit automakers General Motors Co. and Ford Motor Co. will aim to reassure Wall Street that they won't get caught up in a price war with Tesla Inc.   Investors are still unconvinced as of now. GM stock is selling near its 2010 IPO price of...

Deposits At First Republic Bank Fell By More Than $100 Billion As It Seeks Options

After the bell rang on Monday, First Republic Bank said that deposits had fallen by more than $100 billion and that it was looking into possibilities like restructuring its balance sheet. This news caused shares of the bank to drop more than 20%.   Profits for the struggling company, which...

Tesla's Market Share In California Is Declining Despite Significant Price Cuts

Despite significant price reduction, rivals stepped up in the first quarter of the year, causing Tesla's market share in its crucial California region to decline. According to calculations made by Reuters using information from the California Energy Commission, Tesla Inc. held 59.6% of the battery...

Top Chip Designing Firm Arm Produces Its Own Sophisticated Semiconductor Prototypes

Chip designer Arm, a SoftBank-owned company, is creating its own chip to demonstrate the possibilities of its designs as it looks to expand after a successful IPO later this year.   According to those briefed on the development, the corporation will collaborate with manufacturing partners to...
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