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(Reuters) – U.S. defense contractor L3Harris cut 5% of its workforce earlier this month in a bid to streamline its business and save costs, CEO Chris Kubasik said in a post-earnings conference call on Friday. The announcement confirms a Reuters report from Tuesday which said the company would cut 5% of its workforce this year, …

L3Harris cuts 5% workforce in cost-saving measure Read More »

By David Shepardson WASHINGTON (Reuters) – The U.S. Homeland Security Department (DHS) on Friday announced a blue-ribbon board that includes the CEOs of OpenAI, Microsoft, Google parent Alphabet and Nvidia that will advise the government on the role of artificial intelligence on critical infrastructure. The board will develop recommendations for the transportation sector, pipeline and …

US Homeland Security names AI safety, security advisory board Read More »

By Leroy Leo and Christy Santhosh (Reuters) -AbbVie expects a drop in sales volumes of its blockbuster arthritis drug Humira to deepen after recent changes by U.S. pharmacy benefit managers and as patients shift to other drugs. Its shares were down nearly 5% in afternoon trade on Friday, after the company forecast U.S. Humira sales …

Drugmaker AbbVie expects Humira volume erosion to worsen Read More »

WASHINGTON (Reuters) -Alphabet Inc’s Google on Friday asked a federal court in Virginia to reject a U.S. government lawsuit accusing the advertising and search giant of anticompetitive practices in the online advertising marketplace. The Justice Department, which filed the advertising lawsuit in January 2023, accused the company of abusing its dominance of the digital advertising …

Google asks court to throw out US advertising case Read More »

SAN FRANCISCO (Reuters) -Tesla plans to lay off 693 employees at its facilities in Sparks, Nevada, a government notice showed, as part of its plan to cut more than 10% of its global workforce amid dropping sales and rising competition. The notice was submitted to the Nevada Department of Employment, Training, and Rehabilitation earlier this …

Tesla to lay off 693 employees in Nevada, government notice says Read More »

(Reuters) – American Airlines will be making adjustments to certain routes in the second half of 2024 and the first quarter of 2025, the carrier said on Friday, citing ongoing Boeing 787 delivery delays. “We’re making these adjustments now to ensure we’re able to re-accommodate customers on affected flights,” the company said. The carrier added …

American Airlines to adjust routes amid Boeing 787 delivery delays Read More »

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness. S&P 500 year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to …

S&P 500 Q1 earnings estimated growth improves; stocks up for week Read More »

A look at the day ahead in U.S. and global markets from Mike Dolan A volatile week for Wall Street megacaps looks set to end with a positive twist as Microsoft and Alphabet earnings wowed the gallery overnight, while the yen plunged anew in Asia as the Bank of Japan left policy on hold. After …

Morning Bid: Big Tech see-saw flips positive, yen swings wildly Read More »

By Pete Schroeder WASHINGTON (Reuters) -A top U.S. bank regulator on Thursday shelved a vote to impose stricter oversight on asset managers like BlackRock and Vanguard that have big passive stakes in banks, despite officials agreeing the matter merited more attention. The Federal Deposit Insurance Corporation postponed votes on two competing plans that would have …

US regulator pauses plans to scrutinize asset manager stakes in banks Read More »