Juul Labs announced Wednesday that it intends to lay off around 30% of its personnel in order to reduce expenses and increase revenues. According to a corporate representative, the layoffs would effect around 250 individuals, lowering the company’s headcount to approximately 650. According to the Juul spokeswoman, this will save the company $225 million in…
U.S. Federal Authorities Unearth Expansive Cryptocurrency Laundering Operation with Ties to North Korean Cybercrime Court Charges Washington State Resident and Russian Business Partner On Wednesday, federal authorities charged two men with operating a massive money laundering scheme that allegedly processed more than $1 billion in unlawful transactions, including the transfer of hundreds of millions of…
Norway, August 23, 2023 – Equinor, a global leader in the energy sector, proudly inaugurated Hywind Tampen today, marking a historic milestone in renewable energy innovation. As the world’s largest floating offshore wind farm, Hywind Tampen represents a monumental achievement in sustainable power generation. Developed and operated by Equinor, in collaboration with its esteemed partners,…
Wednesday is a divided day for Asia-Pacific markets as investors evaluate private business activity surveys from Australia and Japan, as well as inflation data from Singapore. The S&P/ASX 200 in Australia rose 0.66 percent, reversing earlier losses. According to the Juno Bank’s flash composite purchasing managers index for August, Australia’s business activity contracted at the…
Shares of Nvidia kicked off Tuesday at an unprecedented peak, with investors flocking to the trillion-dollar company, reaping exceptional stock gains as it capitalizes on the artificial intelligence surge, leaving competitors trailing far behind. A Remarkable Rally Nvidia’s stock surged by as much as 3% to reach $481.87, extending its 8% climb from the previous…
China’s Baidu Inc. has exceeded second-quarter revenue estimates, riding on a resurgence in advertising expenditure after the pandemic-induced slump. The company’s robust performance is attributed to the revival of digital advertising spending following the relaxation of COVID-19 restrictions, driving economic recovery. Baidu, known for operating China’s most popular search engine, generates the bulk of its…
Earnings Highlights Lowe’s Companies, Inc. (NYSE: LOW) recently released its financial results for the second quarter ended August 4, 2023. The company reported net earnings of $2.7 billion, translating to diluted earnings per share (EPS) of $4.56. This compares to the diluted EPS of $4.67 reported for the second quarter of 2022. Sales Performance During…
X, formerly Twitter and now owned by Elon Musk, plans to test out a new method for displaying news links without a headline or description. Fortune reported that the social network will only display the link and the header image in a post. Musk confirmed the action in a Monday blog post and stated that…
On Monday, the yield on the average US government bond hit its highest level since 2007. This was because investors were worried about the future of interest rates before this week’s big Federal Reserve meeting. As investors increased their bets that rates would stay high for longer, the yield on the 10-year benchmark bond rose…