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…
Impressive Earnings and Rising Sales Walmart Inc. delivered a robust performance in the second quarter, with both sales and profits rising year-over-year. The retailer reported a net income of $7.03 billion, or 88 cents per share, for the three months ending July 31, a significant increase compared to $4.50 billion, or 56 cents per share, during the same period a…
The United States government, under the Trump administration, has embarked on an unconventional strategy to deepen its ties with the domestic semiconductor industry, with a focus on Intel Corp. In a recent development, U.S. Commerce Secretary Howard Lutnick confirmed that the government is seeking a 10% stake in the Silicon Valley company. This move is part of a broader effort…
Home Depot posted net sales of $45.28 billion for its fiscal second quarter, rising from $43.18 billion in the same period last year. The result, however, came in just below Wall Street expectations of $45.41 billion. Comparable-store sales advanced 1 percent overall and 1.4 percent in the U.S., pointing to modest growth despite pressure on households from persistent inflation and…
Swiss watchmaker Swatch has become the latest Western brand to be accused of cultural insensitivity in Asia after launching an advertising campaign that drew widespread criticism. The controversial advertisement, designed to promote its new Essentials collection, featured an Asian male model making a gesture by pulling the corners of his eyes upward. This motion, long recognized as a derogatory stereotype,…
Federal Reserve officials are increasingly split over which challenge demands immediate action: the slow pace of job growth or persistent inflationary pressures. With the September 16–17 policy meeting drawing closer, and the annual Jackson Hole symposium set to begin next week, the stakes are high. The Fed’s dual mandate—maximizing employment while maintaining price stability—has rarely been under such stress. A…
Iea Sees Faster-Than-Expected Output Growth Global oil supply is set to rise more sharply than anticipated in 2025 and 2026, driven by higher production from OPEC+ members and steady gains from producers outside the alliance, according to the International Energy Agency (IEA). In its latest monthly report, the agency said output will grow by 2.5 million barrels per day (bpd)…
