After a steep increase in the cost of insurance against default risk late the day before fueled concerns about the general health of Europe's banks, Deutsche Bank shares dropped for a third consecutive day on Friday.   So far this month the value of shares of Deutsche have gone...

Sam Altman, the CEO of OpenAI, has revealed a problem that allowed some users of the well-known AI chatbot ChatGPT to see messages from other users.   “We had a significant issue in ChatGPT due to a bug in an open source library, for which a fix has now been released and we have just...

The business said on Thursday that the board of Toshiba Corp. has accepted a $15.2 billion takeover offer from a group led by private equity firm Japan Industrial Partners, potentially putting an end to years of turmoil at the conglomerate.   After much conflict with foreign activist...

Accenture Plc, the latest indication that the deteriorating global economic picture was sapping corporate spending on IT services, decreased its annual revenue and profit estimates and made the decision to eliminate around 2.5% of its staff, or 19,000 jobs.   Accenture announced on Thursday...

As lower costs and job cuts padded the videogame retailer's bottom line, GameStop Corp. unexpectedly reported a profit for the fourth quarter, its first since early 2021. This news sent its shares nearly 50% higher in extended trading.   In an effort to strengthen its digital presence and...

According to the company's finance chief, Boeing Co. will incur additional costs for the KC-46 tanker program as a result of a center fuel tank supplier quality issue.   The precise amount of the additional charges, which will be disclosed along with the company's first quarter earnings, was...

In an effort to reassure bondholders shaken by its $3 billion rescue of rival Credit Suisse, UBS Group announced on Wednesday that it would buy back 2.75 billion euros ($2.96 billion) in debt that it had just days earlier sold.   The bonds were sold on March 9, and UBS's decision to buy them...

According to reports, Virgin Orbit is attempting to find a funding lifeline in order to prevent bankruptcy, which could happen as soon as this week if no agreement is reached.   As CNBC first reported, the rocket manufacturer halted operations last week and laid off the majority of its...

Saudi National Bank is suffering significant losses as a result of UBS's forced acquisition of Credit Suisse for $3.2 billion.   The largest shareholder of Credit Suisse, Saudi National Bank, informed the media on Monday that it had suffered an investment loss of about 80%.   The bank...

Amazon.com Inc. announced on Monday that it would eliminate an additional 9,000 positions, adding to a wave of job cuts that have hit the technology industry as a result of the uncertain economic climate.   In an astonishing turn of events for a business that has long bragged about creating...

According to a source with knowledge of the matter, bond king PIMCO lost about $340 million on a class of Credit Suisse bonds that were destroyed by the UBS acquisition, with the American investment manager's overall exposure to the Swiss lender amounting to billions.   In a deal that saw...