Under Armour Inc. is embarking on a restructuring endeavor to combat its growing financial losses. Kevin Plank, the company’s founder who resumed the role of CEO last month after stepping down in 2019, outlined plans to analysts aimed at bolstering ...
A former senior employee at OpenAI has voiced concerns about the company’s focus on “shiny products” at the expense of safety, revealing that his departure was prompted by a disagreement over priorities that had reached a critical point. Jan Leike, ...
A Bank of America employee, 25-year-old Adnan Deumic, passed away suddenly while playing soccer Thursday night, just weeks after a 35-year-old investment banker from the same company died of a blood clot. Confirming Deumic’s death, Bank of America expressed deep ...
On Thursday, Walmart exceeded quarterly earnings and revenue expectations thanks to significant e-commerce growth, increased profits from newer ventures like advertising, and an influx of high-income shoppers. The retail giant announced it now anticipates reaching the high-end or slightly surpassing ...
On Thursday, Facebook’s parent company Meta faced a significant investigation from the European Union regarding potential violations of the bloc’s stringent online content law, particularly concerning child safety risks. The European Commission, the EU’s executive branch, announced in a statement ...
Alibaba Group Holding, China’s e-commerce giant, surpassed analysts’ expectations for fourth-quarter revenue on Tuesday, driven by a focus on affordable goods amid cautious consumer spending, particularly within the domestic market. Despite this positive revenue outcome, its U.S.-listed shares dipped aproximately ...
Takeda Pharmaceuticals from Japan has struck a deal valued at up to $2.2 billion to collaborate with Swiss start-up AC Immune in the development of an Alzheimer’s vaccine. This partnership underscores the intense competition among drug companies to invest in ...
The Social Security Administration (SSA) is actively disbursing payments for retired workers, survivors of deceased contributors, and recipients of Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI) throughout May. The SSA has already initiated the first three rounds ...
Sunday saw most stock markets in the Gulf closing higher, buoyed by increasing oil prices, though the Saudi index took a hit due to weak corporate earnings. Oil prices, a pivotal factor for Gulf financial markets, experienced an uptick on ...
General Motors is confident in its ability to regain market share in China, following a decline to a nearly 20-year low last year due to evolving market dynamics and heightened competition from local players, stated GM President Mark Reuss on ...