"Cisco Systems announced plans to lay off 5% of its global workforce, translating to over 4,000 employees. This decision is part of the company's strategic realignment to concentrate on burgeoning sectors like AI, amid a challenging economic landscape that has seen many tech giants reevaluate their workforce and investment priorities.
Lyft, the renowned ride-sharing company, faced an extraordinary situation due to a typographical error in its earnings report. This incident not only led to a dramatic fluctuation in the company's stock prices but also spotlighted the critical nature of financial communications and the repercussions of inaccuracies, however minor they may seem.
"JetBlue Airways saw its shares surge by over 15% following the revelation that corporate titan Carl Icahn had acquired a nearly 10% stake in the airline, branding it as undervalued. The disclosure of Icahn's significant investment has stirred the market, coming at a crucial juncture for JetBlue as it endeavors to navigate post-pandemic recovery and the fallout from a thwarted merger with Spirit Airlines.
Linda Yaccarino announced Wednesday that she will step down as CEO of Elon Musk's social media platform X, ending a turbulent two-year tenure marked by falling user engagement, advertiser defections, and mounting scrutiny over hate speech and content moderation.
Merck & Co. said Wednesday it will acquire London-based Verona Pharma in a $10 billion all-cash deal, bolstering its respiratory treatment portfolio as the company moves to reduce long-term dependence on its blockbuster cancer drug Keytruda.
Samsung Electronics said Tuesday it expects a 56% drop in second-quarter operating profit, signaling continued pressure on the South Korean tech giant's core semiconductor business due to U.S. export controls, weak AI chip sales in China, and delayed shipments to key customer Nvidia.
Apple has formally appealed a €500 million ($587 million) fine imposed by the European Commission over alleged violations of the Digital Markets Act (DMA), arguing that the ruling unfairly targets its App Store practices and forces it to adopt business terms that confuse developers and harm consumers. The case was filed Monday with the EU General Court in Luxembourg, the bloc's second-highest judicial authority.
Tesla shares tumbled as much as 7.6% in premarket trading Monday, following a weekend political clash between CEO Elon Musk and President Donald Trump. Musk's announcement of a new political entity - the "America Party" - and Trump's public rebuke triggered a sharp selloff, wiping billions from Tesla's market capitalization and intensifying investor anxiety over Musk's political distractions.
Microsoft said Wednesday it will lay off approximately 9,000 employees, affecting less than 4% of its global workforce, in a sweeping reorganization aimed at streamlining operations across divisions including gaming and cloud services. The announcement comes at the start of the company's 2026 fiscal year.
Qantas Airways said Wednesday that the personal records of up to 6 million customers were accessed in a cyberattack, marking one of Australia's most significant data breaches to date and heightening scrutiny over third-party cybersecurity risks in the aviation industry.
Tesla reported a 14% drop in second-quarter vehicle deliveries on Wednesday, marking its second consecutive year-over-year decline and adding pressure as Chinese rival BYD pulls further ahead in the global electric vehicle race.
Paramount Global has agreed to pay $16 million to resolve a lawsuit brought by President Donald Trump over a CBS "60 Minutes" interview, ending a months-long legal and political dispute that has roiled the network amid its pending merger with Skydance Media.
Tesla shares tumbled more than 5% Tuesday after President Donald Trump threatened to investigate government subsidies received by Elon Musk's companies, reigniting a public feud between the two billionaires that has spilled into the legislative battle over Trump's multi-trillion-dollar domestic policy bill.