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Paramount to Lay Off 2,000 Employees Shortly After Its Merger With SkyDance

Paramount to Lay Off 2,000 Employees Shortly After Its Merger With SkyDance

AP Business Writer (AP) — In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount has begun layoffs set to impact about 2,000 employees. Paramount initiated roughly 1,000 of those layoffs company-wide on Wednesday, according to a source familiar with the matter, who spoke on the condition of anonymity because they…

Starbucks Sales Improve but Store Closures and Layoffs Take a Bite Out of Profits

Starbucks Sales Improve but Store Closures and Layoffs Take a Bite Out of Profits

Starbucks reported better-than-expected revenue in its fiscal fourth quarter as its U.S. sales improved. The Seattle-based company said its net revenue rose 5% to $9.6 billion in the July-September period. That was better than Wall Street was expecting, according to analysts polled by FactSet. Starbucks’ global same-store sales rose 1% compared to the same period…

AI Chipmaker Nvidia is the First $5 Trillion Company

AI Chipmaker Nvidia is the First $5 Trillion Company

Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier. The ravenous appetite for Nvidia’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023. On Wednesday the shares closed at $207.04 with…

Meta Shares Slide After Company Projects Higher Expenses for 2026

Meta Shares Slide After Company Projects Higher Expenses for 2026

Meta’s stock slid in after-hours trading Wednesday after the tech giant posted strong third-quarter results but warned that its expenses will be significantly higher in 2026 than this year. Like is rivals, Meta Platforms Inc. has been on an artificial intelligence spending spree and said its costs will grow much faster next year, driven by…

Boeing Pushes 777X Jet Deliveries to 2027 Amid Certification Delays

Boeing Pushes 777X Jet Deliveries to 2027 Amid Certification Delays

Boeing on Wednesday reported mixed third-quarter results, with higher aircraft deliveries and a growing order backlog offset by certification delays for its 777X jet. CEO Kelly Ortberg says the first delivery of the widebody jet is now expected in 2027, resulting in a $4.9 billion charge. Boeing delivered 160 planes in the third quarter, the…

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