Business

Trump administration vows crackdown on Chinese companies ‘exploiting’ AI models made in US

Thursday, April 23 by SRN News

WASHINGTON (AP) - The Trump administration is vowing to crack down on foreign tech companies' exploitation of U.S. artificial intelligence models, singling out China at a time that country is narrowing the gap with the U.S. in the AI race. In a Thursday memo, Michael... Read More.

Nike to cut around 1,400 jobs in efficiency push

Thursday, April 23 by SRN News

April 23 (Reuters) - Nike said on Thursday it was reducing about 1,400 roles in its global operations team, as the sportswear giant looks to boost its profits. The reductions will mainly affect North America, Asia and Europe and account for less than 2%... Read More.

Trading Day: Geopolitical reality check

Thursday, April 23 by SRN News

By Jamie McGeever ORLANDO, Florida, April 23 (Reuters) - Oil prices jumped and Wall Street fell on Thursday, with the Nasdaq having its worst day in a month, as fading hopes of a U.S.-Iran peace deal soured recent optimism around the U.S. earnings season and... Read More.

Newmont beats Q1 profit estimates, flags weaker output and higher costs in Q2

Thursday, April 23 by SRN News

April 23 (Reuters) - Newmont beat Wall Street estimates for first-quarter profit on Thursday as record gold prices helped offset lower production, though the world's largest gold miner warned of weaker output and elevated costs in the current quarter. The company said it expects about... Read More.

Spirit Airlines says financial aid from the US government would help it keep flying

Thursday, April 23 by SRN News

NEW YORK (AP) - A lawyer for Spirit Airlines said Thursday that the budget carrier was in advanced talks with the U.S. government on a financing deal that would help it emerge from bankruptcy protection instead of having to shut down. Details of the... Read More.

Meta slashes 8,000 jobs, or 10% of its workforce, as Microsoft offers buyouts

Thursday, April 23 by SRN News

Meta is laying off about 8,000 workers, or about 10% of its workforce, the company said Thursday as it continues to ramp up spending on artificial intelligence infrastructure and highly paid AI-expert hires. The company said it was making the cuts for the sake of... Read More.

Electrolux plans about $1 billion share issue, tie-up with Midea in North America to shake up ops

Thursday, April 23 by SRN News

By Kanjyik Ghosh and Greta Rosen Fondahn April 23 (Reuters) - Swedish appliance maker Electrolux said on Thursday it would launch a 9 billion Swedish crown ($976.34 million) rights issue and unveiled a tie-up with rival Chinese Midea Group in North America to form three... Read More.

Golf-PGA Tour cuts 4% of workforce as part of organisational restructuring

Thursday, April 23 by SRN News

April 23 (Reuters) - The PGA Tour eliminated 4% of its workforce on Thursday as part of a restructuring process. According to numbers confirmed by the PGA Tour, 56 of the U.S.-based circuit's full-time employees were laid off while another 73 open positions will not... Read More.

Citi creates Financial and Strategic Investors group in investment banking, hires Lazard executive

Thursday, April 23 by SRN News

By Tatiana Bautzer NEW YORK, April 23 (Reuters) - Citigroup is creating a new division within investment banking to boost transactions with financial sponsors, the bank's head of banking Vis Raghavan said in an internal memo seen by Reuters. The new group is replacing the former... Read More.

Colombia’s Ecopetrol to buy 26% stake in Brazil’s Brava, seeks majority control

Thursday, April 23 by SRN News

SAO PAULO, April 23 (Reuters) - Colombia's state oil firm Ecopetrol has agreed to buy a stake of around 26% in Brazilian energy firm Brava, in a deal that could result in the Colombian company taking a majority control of the Brazilian firm, they... Read More.

Current Weather

Trump administration vows crackdown on Chinese companies ‘exploiting’ AI models made in US

Nike to cut around 1,400 jobs in efficiency push

Trading Day: Geopolitical reality check

Newmont beats Q1 profit estimates, flags weaker output and higher costs in Q2

Spirit Airlines says financial aid from the US government would help it keep flying

Meta slashes 8,000 jobs, or 10% of its workforce, as Microsoft offers buyouts

Golf-PGA Tour cuts 4% of workforce as part of organisational restructuring

Colombia’s Ecopetrol to buy 26% stake in Brazil’s Brava, seeks majority control

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