Meta said Thursday it would cut about 8,000 jobs, or roughly 10% of its workforce, as the company pushes further into artificial intelligence spending while trying to improve efficiency. The company said the reductions are meant to free up resources for new investments in other parts of the business. Bloomberg also reported that Meta plans to leave about 6,000 positions…
The Prada Group has completed its acquisition of Versace in a cash deal worth about $1.375 billion, bringing one of Italy’s most flamboyant fashion houses under the same umbrella as Prada’s more restrained aesthetic and its younger label Miu Miu. The transaction, finalized after regulatory clearances in major markets, ends Versace’s six-year spell under Capri Holdings and ranks among the…
Thanks to the AI Boom, early investors in Big Tech stocks like Nvidia (NVDA) became millionaires overnight. While growth will still occur, the likelihood for a similarly massive short term upside in those stocks has passed. As keen investors look for the next big win, a new investment opportunity has emerged in AI’s biggest challenge: Power. To satisfy the skyrocketing…
Deals marketed as some of the strongest of the holiday season are expected to keep shoppers across the United States glued to their screens as Cyber Monday caps the post-Thanksgiving buying rush. Online shopping has become embedded in everyday life, and each year the holiday period pushes spending to new highs. Data from Adobe Analytics suggest that U.S. consumers will…
Italian luxury group Giorgio Armani S.p.A. has appointed a new board to steer the company through a sensitive transition following the death of its founder, Giorgio Armani, at age 91 in September 2025. The announcement marks the first major governance step since his passing and activates succession mechanisms that the designer put in place years earlier to protect the independence…
World share markets traded in different directions on Thursday as investors weighed a recent Wall Street rally against fresh economic data and the looming Thanksgiving holiday in the United States. European benchmarks were broadly steady after a positive session in most major Asian markets, while U.S. equity futures suggested a muted open later in the day. Futures tied to the…
Campbell Soup Company has placed one of its senior technology executives, Martin Bally, on leave while it investigates a lawsuit alleging that he mocked the company’s products and customers and made racist remarks during a recorded conversation with a subordinate. The company said the alleged comments, if confirmed, are “unacceptable” and inconsistent with its corporate values and culture. According to…
