Self-driving trucking company TuSimple Holdings Inc. TSP -3.75% plans to cut potentially at least half of its workforce next week, people familiar with the matter said, as it scales back efforts to build and test autonomous truck-driving systems. A staff reduction of that size would likely affect at least 700 employees, the people said. As … Read more
In recent weeks, Apple Inc. AAPL -0.34% has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. It is telling suppliers to plan more actively for assembling Apple products elsewhere in Asia, particularly … Read more
The planned spinoff of GE HealthCare Technologies is part of General Electric’s overall plan to split into three separate public companies. Photo: Charles Krupa/Associated Press Updated Nov. 30, 2022 9:03 pm ET General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the … Read more
STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer HM.B, +0.49% has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in a … Read more
By Dominic Chopping STOCKHOLM–Sweden’s Hennes & Mauritz AB said Wednesday that it expects to book a restructuring charge of just over 800 million Swedish kronor ($75.6 million) in the fourth quarter related to its cost-cutting program. The fashion retailer has previously outlined plans to reduce annual administrative and overhead costs by around SEK2 billion in … Read more
A research paper published at Harvard University is advocating that central banks should buy bitcoin BTCUSD, +2.56% as a hedge against sanctions by other countries. The paper, titled “Hedging Sanctions Risk: Cryptocurrency in Central Bank Reserves,” was authored by Ph.D. candidate Matthew Ferranti from Harvard’s economics department, and likens central banks’ gold reserves to potential … Read more
For much of the past year, China’s economy has been reeling under Xi Jinping’s dual campaigns to rein in soaring property prices and to stamp out any traces of Covid-19 within the country’s borders. Now, as he moves to loosen pandemic restrictions, China’s leader, Mr. Xi, is signaling a reversal of his real estate crackdown, … Read more
Lyft has more than 4,000 employees, which don’t include its drivers. Photo: Sebastian Hidalgo for The Wall Street Journal Updated Nov. 3, 2022 12:05 pm ET Lyft Inc. LYFT 0.24% said it is cutting 13% of staff, or nearly 700 jobs, the latest technology company to say it needed to reduce costs ahead of choppy … Read more
David Zaslav declared it a “bright shiny day’’ after the deal to merge his cable programming juggernaut Discovery Inc. with AT&T Inc.’s T 0.44% WarnerMedia unit closed last April. As of Wednesday’s close, the stock was down about 48% since the deal closed on April 8, and the company disclosed it expects to incur as … Read more
Telehealth startup Cerebral Inc. told staffers it is cutting jobs and restructuring its operations in moves that will affect about 20% of its employees, shrinking the company to match patient demand and lower growth targets. In a memo to staff on Monday, Chief Executive David Mou said the changes would be spread across all divisions, … Read more