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Intel Cuts Pay For Employees And Executives Due To PC Market Slowdown

Intel Corp announced broad salary cuts for employees and executives on Tuesday, just a week since the firm had announced a lower-than-expected sale revenue forecast due to a loss of market share to competitors and a slowdown in demand in the PC market.   ...

Ford Will Lower Cost Of The Mustang Mach-E, Emulating Tesla's Example

Weeks after rival Tesla Inc. decreased pricing on its electric vehicles globally by as much as 20%, Ford Motor Co. reduced costs of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle.   Ford's stock fell 2.9% in above-average trading to close at $12.89. Tesla dropped...

Bankruptcy Filing By Bed Bath & Beyond Could Be As Soon As This Week

Bed Bath & Beyond Inc. is planning to file for bankruptcy protection as soon as this week and has lined up liquidators to close further stores in the event that no last-minute buyer materialises, according to a report from Reuters quoting information from four people with knowledge of the...

India’s Adani Group Rebuts Hindenburg Report, Claims To Have Made All Required Disclosures

India's Adani Group released a comprehensive rebuttal to a Hindenburg Research report that triggered a $48 billion drop in its stock, claiming that the conglomerate companies with all local laws and have made all required regulatory disclosures.   The conglomerate led by Asia's richest man,...

The Classic Jumbo Jet, Boeing's 747, Gets Ready For Last Send-Off

The original and presumably most aesthetically pleasing "Jumbo Jet," Boeing's 747, changed the face air travel, only to have its more than five-decade reign as "Queen of the Skies" finished by more efficient twinjet planes.   On Tuesday, the last commercial Boeing jumbo in the remaining...

New Rolls-Royce CEO Warns Employees Of 'Last Chance' To Change, Resulting In Sump In Company Stocks

The aerospace company and Britain's top blue-chip engineering group Rolls-Royce, issued a warning to employees that the firm was a "burning platform", according to its CEO, which resulted in the stocks of the company falling by as much as 4% on Friday.    According to a report...

$8 Billion Wiped Off From Market Value Of Intel In A 'Historic Collapse'

The much worse than expected results and dismal earnings projections compared to expectations of Wall Street resulted in the stocks of the semiconductor chip giant Intel being routed as the company lost about $8 billion from its market value on Friday. The results reported by Intel resulted in...

Tesla And Insurers Adopt Different Approaches To Dealing With Costly Repairs

Tesla Inc's electric vehicles are expensive to repair, so the automaker and insurers are approaching the issue in diametrically opposed ways.   Elon Musk, Tesla's CEO, has stated that the company is making design and software changes to its vehicles in order to reduce repair costs and...

Adani Group Of India Has Been Hit By A $48 Billion Stock Rout, Blurring A Record Share Sale

Adani Enterprises' shares fell 20% on Friday after a damning report by a US short seller sparked a sweep in the conglomerate's listed firms, raising questions on how investors will react to the company's record $2.45 billion secondary offer.   Seven listed Adani conglomerate...

Ford Will Lay Off Up To 3,200 European Workers, According To A Union That Has Vowed To Fight Back

The United States-based automaker Ford Motor Co will be cutting down up to 3,200 jobs throughout its operations in Europe and moving development work for some of its products to the United States, according to Germany's IG Metall union, which has threatened to call a strike if the company goes...

22% Drop In Quarterly Sales For Logitech Due To Growing Concerns Among Consumers Of A Slowdown

The total sale revenues for the third quarter for Logitech International dropped by 22%, the tech giant reported on Tuesday. The results were in line with the preliminary results that depicted that the business customers of the company were postponing buying of new equipment because of their...

China’s Geely Intends To Transform The Manufacturer Of London Black Cabs Into An EV Powerhouse

China's electric car company Geely is contemplating making a large investment to transform the manufacturer of London's iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, according to reports quoting executives at Geely  ...
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