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L3Harris cuts 5% workforce in cost-saving measure
(Reuters) - U.S. defense contractor L3Harris cut 5% of its workforce earlier this month in a bid to streamline its business and save costs, CEO Chris Kubasik said in a post-earnings conference call on Friday. The announcement confirms a Reuters ...
Deutsche Bank to make provision for Postbank suit that will hit Q2 profit
BERLIN (Reuters) - Deutsche Bank AG said a court ruling in a years-long litigation over its takeover of Postbank will require it to make a legal provision that will impact its second quarter and full-year profitability. Germany's flagship lender ...
American Airlines to adjust routes amid Boeing 787 delivery delays
(Reuters) - American Airlines will be making adjustments to certain routes in the second half of 2024 and the first quarter of 2025, the carrier said on Friday, citing ongoing Boeing 787 delivery delays. "We're making these adjustments now to ...
Lofty US stocks leave investors punishing earnings disappointments
By Lewis Krauskopf NEW YORK (Reuters) - Richly valued U.S. stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report. Strong reports ...
Tesla to lay off 693 employees in Nevada, government notice says
SAN FRANCISCO (Reuters) -Tesla plans to lay off 693 employees at its facilities in Sparks, Nevada, a government notice showed, as part of its plan to cut more than 10% of its global workforce amid dropping sales and rising competition. The notice ...
X tells Brazil court 'operational faults' allowed blocked users to remain active
By Ricardo Brito BRASILIA (Reuters) - Lawyers representing X in Brazil told the Supreme Court on Friday that "operational faults" have allowed users who were ordered blocked to stay active on the social media platform. Supreme Court Justice ...
New York affordable internet law revived by federal appeals court
By Jonathan Stempel NEW YORK (Reuters) - A divided federal appeals court revived a 2021 New York state law intended to provide affordable high-speed internet service to low-income families, setting aside a permanent injunction and handing a ...
S&P 500 Q1 earnings estimated growth improves; stocks up for week
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness.
TikTok general counsel to move to new role focused on fighting US sale
By David Shepardson WASHINGTON (Reuters) -Erich Andersen, general counsel for TikTok and Chinese parent company ByteDance, will step down from that role in June to focus on fighting efforts to force a sale of the video app in the U.S., the company ...
US Homeland Security names AI safety, security advisory board
By David Shepardson WASHINGTON (Reuters) - The U.S. Homeland Security Department (DHS) on Friday announced a blue-ribbon board that includes the CEOs of OpenAI, Microsoft, Google parent Alphabet and Nvidia that will advise the government on the ...