Amazon plans to lay off 9,000 more workers

Amazon plans to lay off 9,000 more workers

Chief Executive Andy Jassy said in a statement that the company had recruited a significant number of employees in recent years, a step he defended as necessary given what was happening in Amazon’s business at the time. era. “Given the uncertain economy we reside in and the uncertainty that exists for the near future, we … Read more

From SVB’s sudden collapse to Credit Suisse fallout: 8 charts show financial market turmoil

From SVB’s sudden collapse to Credit Suisse fallout: 8 charts show financial market turmoil

A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more

Meta AI unlocks hundreds of millions of proteins to aid drug discovery

Meta AI unlocks hundreds of millions of proteins to aid drug discovery

Meta Platforms, parent company of Facebook Inc. created a tool to predict the structure of hundreds of millions of proteins using artificial intelligence. Researchers say promises to deepen scientists’ understanding of biology, and perhaps accelerate the discovery of new drugs. Meta’s research arm, Meta AI, used the new AI-based computer program known as ESMFold to … Read more

Uber and Lyft claim victory as California court upholds right to treat drivers as contractors

Uber and Lyft claim victory as California court upholds right to treat drivers as contractors

UberTechnologies Inc., UBER -0.93% Lyft Inc. LYFT -2.87% and other companies won a victory with a California court ruling that preserves their independent contractor model in the state and could bolster their efforts to maintain that model elsewhere. A state appeals court said workers should continue to be treated as independent contractors under a California … Read more

DocuSign shares fall as investors see short-term ‘turbulence’ from reorganization

DocuSign shares fall as investors see short-term ‘turbulence’ from reorganization

Posted: March 10, 2023 1:55 PM ET DocuSign shares fell on Friday after Wall Street said an ongoing reorganization of the electronic signature company would likely cause near-term turbulence, although it beat expectations for the quarter. Shares of DocuSign DOCU fell 20% to an intraday low of $53.71, and were last down 19%. Shares also … Read more

FTC Twitter investigation searched Elon Musk’s internal communications and reporters’ names

FTC Twitter investigation searched Elon Musk’s internal communications and reporters’ names

WASHINGTON—The Federal Trade Commission has asked Twitter Inc. to turn over internal communications related to owner Elon Musk, along with detailed information about the layoffs—citing concerns that the staff cuts could jeopardize the company’s ability company to protect users, documents viewed by the Wall Street Journal show. In 12 letters sent to Twitter and its … Read more

Paramount Global Considers Selling Majority Stake in BET Media Group

Paramount Global Considers Selling Majority Stake in BET Media Group

Paramount Global FOR -2.19% plans to sell a majority stake in BET Media Group, which includes cable channels BET and VH1, people familiar with the matter said. The move to consider selling a controlling stake in the assets, which cater primarily to black audiences, is part of the entertainment giant’s efforts to bolster resources to … Read more

This department store stock beat out Apple, Amazon and Tesla

This department store stock beat out Apple, Amazon and Tesla

One of the best-performing stocks of recent years isn’t a tech giant or a high-flying startup. Instead, it’s a family-owned department store chain that doesn’t have a large following on Wall Street. Shares in Dillard’s Inc. DDS 1.48% have climbed more than 1,500% since April 2020. The company’s market value is similar to that of … Read more

Cuts at Amazon and other tech companies don’t mean recession yet

Cuts at Amazon and other tech companies don’t mean recession yet

When the United States entered a recession in the past, weakness often started in one sector and then spread like wildfire, resulting in a growing array of industries and the people who work in them. The downturns of 2001 and 2007-09 are good examples. The deflated internet and telecommunications bubble in the early 2000s and … Read more

Elon Musk’s latest revelation? His Tesla management team

Elon Musk’s latest revelation?  His Tesla management team

Usually cars are the stars. But this week, Elon Musk went out of his way to highlight Tesla Inc. TSLA 3.61% management team, although Wall Street was eager for an update on efforts to develop a new, inexpensive electric car. Sitting on stage Wednesday, Mr Musk was surrounded by 16 executives, in an apparent attempt … Read more