Summary: Several Google employees, including the entire Python team, were laid off due to a cost-cutting move by Alphabet, causing a ripple effect across the tech industry.
Full articleSummary: The National Highway Traffic Safety Administration is investigating Ford Motor's hands-free driving technology BlueCruise after two fatal crashes involving Mustang Mach-E SUVs to determine safety risk. The safety administration confirmed that BlueCruise was engaged prior to one of the collisions. The investigation will assess BlueCruise's performance on driving tasks and driver monitoring.
Full articleSummary: Costco is offering a 1-year Gold Star Membership for $60 along with a $40 Digital Costco Shop Card, giving access to savings on various items in-store and online, as well as member-only perks such as gas prices and tire services.
Full articleSummary: Online fast-fashion retailer Shein is expanding its platform to include household name brands like Colgate-Palmolive, Hasbro, and Suntory Beverage & Food in order to compete with Amazon and AliExpress. Shein's marketplace services are being presented in various European countries and it plans a stock market listing later this year.
Full articleSummary: Google denied reports of laying off its entire Python language team, stating that it was not a company-wide layoff. The company emphasized that reorganizations are part of normal business operations and that impacted employees can apply for open roles within Google.
Full articleSummary: Intuit (NASDAQ:INTU) was upgraded by StockNews.com from a "hold" rating to a "buy" rating. Several other equity analysts have raised their price targets and ratings for Intuit as well.
Full articleSummary: Norway's sovereign wealth fund plans to support a shareholder proposal demanding PepsiCo to conduct a biodiversity risk assessment, challenging PepsiCo's board recommendation. The fund will also vote against the compensation of PepsiCo's named executive officers and the reelection of its chairman and CEO.
Full articleSummary: Repertoire Immune Medicines announced a strategic collaboration with Bristol Myers Squibb to develop tolerizing vaccines for autoimmune diseases, with Repertoire receiving an upfront payment of $65 million and potential milestone payments up to $1.8 billion. Repertoire will lead development activities while BMS will handle clinical development and commercialization under an exclusive license.
Full articleSummary: Norwegian wealth fund supports proposal for PepsiCo to conduct biodiversity risk assessment, challenging the company's board recommendation. The fund also plans to vote against compensation of PepsiCo's executive officers and the reelection of the chairman and CEO.
Full articleSummary: Microsoft will invest $1.7 billion in new cloud and artificial intelligence infrastructure in Indonesia, expanding Azure's global presence.
Full articleSummary: Sandoz reached an agreement with Amgen resolving patent litigation, allowing for the launch of denosumab biosimilars Jubbonti and Wyost on May 31, 2025.
Full articleSummary: Norway's sovereign wealth fund plans to back a shareholder proposal demanding PepsiCo conduct a biodiversity risk assessment, challenging the board's recommendation to reject the proposal. PepsiCo's goal is to spread regenerative farming practices by 2030.
Full articleSummary: Pharmaceutical firms like AbbVie, Pfizer, and Gilead are on sale due to various reasons including pricing pressure from medical health plan providers, resulting in opportunities for investors.
Full articleSummary: Costco plans to open a club in Rhode Island, potentially filling the gap in states without Costco locations. Additionally, Costco is set to open seven new locations in 2024 at various places including China, Florida, and Texas. Costco is also building the world's largest warehouse in California, with new features like a 32-pump gas station and dedicated delivery service.
Full articleSummary: Tesla unveils a new Cybertruck software update with off-roading features such as Overland Mode and Baja Mode, locking differentials, trail assist, and on-road enhancements like 'slippery surface' and adaptive suspension. The update also includes the highly-anticipated 'CyberTent Mode'.
Full articleSummary: Oracle announced Oracle Climate Change Analytics Cloud Service to help financial institutions understand financed emissions, address statutory compliance, and mitigate climate change-related risks. The service enables banks to calculate and analyze the impact of carbon emissions on investments, aiding in assessing climate risk. It also includes pre-built calculation models and dashboards to save time and effort for banks.
Full articleSummary: Nvidia CEO Jensen Huang is known to be a demanding and perfectionist boss, believing that leadership involves motivating and empowering employees rather than holding power through information.
Full articleSummary: Google has laid off staff across key teams like Flutter, Dart, and Python, but has not completely eliminated the Python team; rather, it has been replaced with another group based in Munich. The company aims to streamline its operations to focus on major product priorities and innovation. Affected employees will be supported with various resources.
Full articleSummary: Wells Fargo customers including a music teacher have become victims of bank scams, with fraudsters stealing large sums of money from their accounts. Wells Fargo has been blamed by the customers for not taking responsibility and providing little assistance in retrieving the stolen money.
Full articleSummary: Coca-Cola HBC AG has announced its Q1 2024 trading update, showing strong organic revenue growth of 12.6% led by categories like Sparkling, Energy, and Coffee. The company reiterates its confidence in delivering financial guidance for the year ahead and medium-term growth targets.
Full articleSummary: Coca-Cola plans IPO for its African bottling arm, Coca-Cola Beverages Africa, with a potential $8 billion valuation next year.
Full articleSummary: The International Monetary Fund (IMF) reported falling inflation globally with projected growth below historical average. Pakistan's economy is facing challenges due to high inflation and other factors. Philip Morris Pakistan Limited reported a 48% increase in Total Net Turnover for the quarter ended March 31, 2024, with a decline in cigarette volume.
Full articleSummary: Nvidia has been a leader in the AI sector but faces increasing competition from other tech giants developing their AI hardware. Microsoft and ServiceNow are two companies well-positioned for long-term growth in the AI sector.
Full articleSummary: Google is cutting down its workforce by firing the entire Python team and relying on cheap labour from outside the United States, part of organizational restructuring efforts. The company plans to set up a new team in Munich, Germany to save costs on salaries.
Full articleSummary: Analysts from Wells Fargo and Barclays maintained Buy ratings on Chevron (CVX) with price targets of $206.00 and additional coverage from TD Cowen with a Hold rating. Chevron has a one-year high of $168.08 and a one-year low of $138.11.
Full articleSummary: Rumors suggest AMD abandoned its high-end graphics card in the RDNA 4 lineup, referred to as Navi 4C or Navi 4X, which could have competed with Nvidia's RTX 4090. Leaked data indicated the card had advanced specs with over 200 compute units and a multi-chiplet design. However, it seems this GPU will not be released in this generation of graphics cards.
Full articleSummary: Taher Hamid has been appointed as President and General Manager of ExxonMobil Qatar, succeeding Dominic Genetti who will now serve as Senior Vice President for Carbon Capture and Storage business in ExxonMobil Low Carbon Solutions.
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