(Reuters) -HP Inc said on Tuesday it expects to reduce its global headcount by about 4,000 to 6,000 by the end of fiscal 2025. The PC maker estimates it will incur about $1.0 billion in labor and non-labor costs related to restructuring and other charges, with nearly $0.6 billion in fiscal 2023 and the rest…
(Reuters) – The Federal Reserve may need to raise interest rates to a higher level and hold them there for longer in order to successfully moderate consumer demand and bring down high inflation given the amount of spare savings households still hold since the pandemic, Kansas City Fed President Esther George said on Tuesday. “The…
By Diane Bartz WASHINGTON (Reuters) -A U.S. Senate antitrust panel will hold a hearing on the lack of competition in the ticketing industry after Ticketmaster’s problems last week managing the sale of Taylor Swift tickets, Senator Amy Klobuchar, chair of the panel, said on Tuesday. Senators Klobuchar and Mike Lee, the top Republican on the…
NEW YORK (AP) — Lawyers for FTX disclosed Tuesday that a “substantial amount” of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back. The admission came during FTX’s first court appearance since the company filed for bankruptcy protection on…
ABUJA, Nigeria (AP) — Nigeria on Tuesday began drilling oil and natural gas in the country’s northern region, anticipating a boost to the nation’s finances even as the new energy supplies face the threat from theft and extremist activity. President Muhammadu Buhari flagged off the drilling within Kolmani oil field in northeast Gombe and Bauchi…
Russian energy giant Gazprom has threatened to reduce natural gas supplies through the last pipeline heading to Europe via Ukraine, saying the amount it’s supplying for Moldova is not ending up in the former Soviet republic. Gazprom says the gas company of Europe’s poorest country, Moldovagaz, paid for part of its November flows of gas…
WASHINGTON (Reuters) – Owners of social media platforms should consider their personal responsibility regarding health disinformation, and the public should choose reputable sources to trust, White House COVID-19 response coordinator Ashish Jha said on Tuesday. “You can decide to trust America’s physicians, or you can trust some random dude on Twitter. Those are your choices,”…
By Ankika Biswas and Shreyashi Sanyal (Reuters) – Wall Street’s main indexes rose on Tuesday as a better-than-feared sales forecast by Best Buy eased worries of a dull holiday season for retailers anxious about consumers turning thrifty due to inflation. Best Buy Co Inc jumped 12.4%, leading gains on S&P 500 index, after forecasting a…
(Reuters) – Meta Platforms Inc spokesperson Andy Stone said in a tweet on Tuesday that a report on Chief Executive Officer Mark Zuckerberg stepping down next year was false. News website The Leak earlier in the day reported that Zuckerberg was set to resign in 2023, citing an unnamed insider source. The report briefly sent…
(Reuters) – Apple Inc’s high-end iPhones will be in short supply at stores this holiday season, Best Buy Co Inc’s chief executive said on Tuesday, as the tech giant grapples with production issues at a virus-blighted plant in China. Earlier this month, Apple warned of delays in shipments of its flagship product following a significant…
