BANGKOK (AP) — Pacific Rim leaders were striving to find common ground on the war in Ukraine and other dire threats to humankind in an annual meeting that began Friday at a heavily guarded venue in Thailand’s capital. The annual summit of the 21-member Asia-Pacific Economic Cooperation forum is the last of three back-to-back meetings…
By Paresh Dave and Katie Paul (Reuters) – Meta Platforms Inc Chief Executive Mark Zuckerberg told employees on Thursday that WhatsApp and Messenger would drive the company’s next wave of sales growth, as he sought to assuage concerns about Meta’s finances after its first mass layoffs. Zuckerberg, addressing pointed questions at a company-wide meeting a…
NEW YORK (AP) — The mass layoffs that began in Amazon’s corporate ranks this week will extend into next year, CEO Andy Jassy said Thursday. In a note sent to employees, Jassy said the company told workers in its devices and books divisions about layoffs on Wednesday. He said it also offered some other employees…
By Sheila Dang, Paresh Dave and Hyunjoo Jin (Reuters) – Hundreds of Twitter employees are estimated to be leaving the beleaguered social media company following an ultimatum from new owner Elon Musk that staffers sign up for “long hours at high intensity,” or leave. In a poll on the workplace app Blind, which verifies employees…
By Echo Wang NEW YORK (Reuters) – The U.S. Financial Industry Regulatory Authority (FINRA) warned on Thursday it was seeing a number of small initial public offerings (IPOs), including many from China, which constituted pump-and-dump schemes that investors should stay away from. Most of these initial public offerings raise less than $25 million for companies…
By David Shepardson WASHINGTON (Reuters) -U.S. broadband providers must display information similar to nutrition labels on food products to help consumers shop for broadband internet services, according to new rules finalized by the U.S. Federal Communications Commission on Thursday. The rules require broadband providers to display, at the point of sale, labels that show prices,…
WASHINGTON (AP) — Reacting to the tumult and mass layoffs at Twitter under its new owner Elon Musk, a group of Democratic senators on Thursday asked federal regulators to investigate any possible violations by the platform of consumer-protection laws or of its data-security commitments. The senators also asked Lina Khan, head of the Federal Trade…
By Jonathan Stempel (Reuters) – Krispy Kreme Inc agreed to pay $1.19 million to settle U.S. Department of Labor charges it failed to properly pay overtime to several hundred workers, the agency said on Thursday. The donut chain was accused of violating the federal Fair Labor Standards Act when, beginning around November 2019, it stopped…
By Herbert Lash and Marc Jones NEW YORK/LONDON (Reuters) – The dollar rose and equity markets slid on Thursday after hawkish remarks from a Federal Reserve official that reminded investors a less aggressive monetary policy is unlikely with U.S. employment data still showing a tight labor market. Nagging recession and higher interest rate worries also…
General Motors says it expects its portfolio of electric vehicles to turn a profit in North America by 2025 as it boosts battery and assembly plant capacity to build over 1 million EVs per year. CEO Mary Barra used the pledge to kick off the company’s investor day event Thursday in New York. The profit…
