Meta shares jump 15% after profit triples and company announces first-ever dividend
February 2, 2024
Meta's fourth-quarter earnings report comes a day after lawmakers grilled CEO Mark Zuckerberg and other social media execs in Washington.
International
Intel Delays $20 Billion Ohio Project, Citing Slow Chip Market
February 2, 2024
Construction on two factories now is slated to be finished in late 2026 as the company also waits for government incentives.
Zoom is cutting about 150 jobs, or close to 2% of its workforce
February 2, 2024
Zoom on Thursday confirmed that it's cutting about 2% of its workforce, becoming the latest tech company to announce layoffs.
Apple Sales Rise in Holiday Quarter, Ending Streak of Declines
February 2, 2024
Revenue for the crucial iPhone business grew nearly 6%, even as China sales continue to be a concern for investors.
These companies reporting next week, including Chipotle, have a history of beating earnings expectations
February 2, 2024
These companies reporting next week have historically beaten expectations and have subsequently risen at least 1.5% on average, Bespoke says.
Facebook Parent Meta Initiates Dividend as Growth Continues
February 2, 2024
The company’s sales increased to $40.11 billion in the three months through December, up 25% compared with the year-earlier period.
Ferrari finishes a record year by topping Wall Street’s estimates
February 2, 2024
The automaker reported a net profit of 1.26 billion euros, or $1.36 billion, for 2023, including 294 million euros, or $317.9 million, in the fourth quarter.
Peloton shares plummet 24% as fitness company gives dismal outlook
February 2, 2024
Peloton has made some progress in its turnaround plan, but the fitness company is expecting more dark days ahead after failing to reach a number of goals.
Elon Musk Wants to Move Tesla’s Incorporation From Delaware to Texas
February 2, 2024
The company will hold a shareholder vote to decide whether to transfer its state of incorporation from Delaware, its CEO said.
Investing in Space: NASA panel warns astronaut moon plan may be too ambitious
February 2, 2024
NASA's Artemis moon mission program regularly faces a wide swath of questions about goals, timeline, cost and more.
The Year We Tracked Everything: How Spotify Induced a ‘Wrapped’ Frenzy
February 2, 2024
As apps busily rip off the sort of year-end usage reports Spotify sends out, a few recaps—like those from Strava and Duolingo—can actually help you achieve your personal goals. Here, a guide.
Zoom to Cut About 2% of Workforce in Latest Tech Layoff
February 2, 2024
Zoom Video Communications will cut almost 2% of staff, the latest in a string of tech-industry layoffs in recent weeks.
Ad giant Publicis paying $350 million to settle U.S. opioid crisis claims
February 2, 2024
New York Attorney General Letitia James said Publicis helped opioid manufacturers like Purdue Pharma "convince doctors to overprescribe opioids."
Formula 1 star Lewis Hamilton to leave Mercedes for Ferrari after 2024 season
February 2, 2024
Hamilton "activated a release option" in his contract, Mercedes said, following an 11-year partnership with the team.
Wall Street has adjusted its expectations for when the Fed starts cutting rates
February 2, 2024
The market finally seems to have gotten the message that a March rate cut isn't in the cards.
Elon Musk says Tesla will hold a shareholder vote to incorporate in Texas after Delaware pay snub
February 2, 2024
Musk's X post comes after a judge in Delaware, where Tesla is currently incorporated, voided the $56 billion pay package granted to the billionaire in 2018.
Top wealth manager Julius Baer caught in property write-off storm as CEO steps down
February 2, 2024
The company will cut 250 jobs this year, impacting around 3% of its 7,425 employees.
Euro zone inflation eases as expected, but core figures disappoint
February 2, 2024
Eurostat released flash euro zone inflation figures for January.
Taylor Swift songs removed from TikTok after her label UMG’s spat with the app
February 2, 2024
Music by artists including Taylor Swift and Drake is no longer available on TikTok after the social video app and Universal Music Group failed to reach a deal.
Bank of England chief hints the market could be getting it right on rate cuts
February 2, 2024
BOE Governor Andrew Bailey signaled markets' expectations on the future path of rate cuts may be correct, even as he refused to commit to a specific timeline.
Watch CNBC’s full interview with the Bank of England’s Andrew Bailey
February 2, 2024
Bank of England Governor Andrew Bailey speaks to CNBC’s Steve Sedgwick after the central bank’s rate decision.
Volvo shares jump 26% on higher sales, plans to stop Polestar funding
February 2, 2024
Volvo Cars shares surged more than 26% on Thursday after the Swedish automaker announced that it will stop funding subsidiary Polestar Automotive.
EU agrees $54 billion aid package for Kyiv; Orban says Hungary’s funds excluded from deal
February 2, 2024
Ukraine's army chief Valeriy Zaluzhnyi is expected be dismissed from his post by the end of the week, CNN reported Wednesday.
Divided Bank of England leaves policy unchanged, says interest rates are ‘under review’
February 1, 2024
The Bank of England held interest rates steady at 5.25% on Thursday.
Gaza: UN rights experts condemn ‘killing and silencing’ of journalists
February 1, 2024
Ongoing military operations by Israel in Gaza have made it the deadliest and most dangerous war for journalists covering it “in recent history”, UN independent human rights experts warned on Thursday.
World News in Brief: Dozens killed in Mali ‘summary executions’, Ukraine update, civilian protection in DR Congo, Haiti human rights
February 1, 2024
UN human rights chief Volker Türk expressed his shock on Thursday at credible reports alleging that Malian armed forces and foreign military personnel executed at least 25 people last week.
UN and partners launch $2.7 billion humanitarian appeal for Yemen
February 1, 2024
Humanitarians will need $2.7 billion to support millions of civilians in war-ravaged Yemen this year, the UN and partners said on Thursday.
Gaza: Aid operations in peril amid funding crisis
February 1, 2024
Lifesaving aid operations in Gaza are “in peril” amid ongoing Israeli bombardment because of the funding crisis impacting the UN agency for Palestine refugees, UNRWA, top UN officials reiterated on Thursday.
Cancer rates set to rise 77 per cent by 2050
February 1, 2024
Global cancer cases are expected to rise around 77 per cent by the middle of the century, UN health authorities said on Thursday, highlighting the growing burden of the disease.
Tesla upgrades Model Y in China as BYD competition heats up
February 1, 2024
The Tesla Model Y in China will come with Hardware 4.0 (HW 4.0) — a set of cameras, sensors and computer — free of charge when a customer purchases the car.
Donald Trump’s lawsuit over ‘Steele dossier’ thrown out by UK court
February 1, 2024
Donald Trump's data protection lawsuit against a British private investigations firm over a dossier which alleged ties between Trump's campaign and Russia was thrown out by London's High Court on Thursday.
Japanese bank tanks over 20% after flagging losses tied to U.S. commercial property
February 1, 2024
The Japanese lender said it now expects a net loss of 28 billion yen for the fiscal year ending March 31, after previously forecasting a net profit of 24 billion yen.
Oil giant Shell posts full-year profit beat, announces $3.5 billion share buyback
February 1, 2024
Shell reported adjusted earnings of $28.25 billion for the full-year 2023, a 29% drop compared to its highest-ever annual profit the year prior.
India expects fiscal deficit for 2025 to narrow to 5.1% even as it boosts infra spending
February 1, 2024
India's finance ministry presented the country's interim budget for 2024, ahead of the highly anticipated general elections.
Deutsche Bank smashes profit estimates and boosts shareholder returns
February 1, 2024
Deutsche Bank smashed fourth-quarter earnings expectations, reporting a net profit of 1.3 billion euros ($1.4 billion).
Demand for shipments from China via rail through Russia has ‘skyrocketed’ since the Red Sea attacks
February 1, 2024
The China-Russia rail route to Europe is in high demand. Some shippers have ethical concerns, according to freight forwarders.
‘You Have Blood on Your Hands’: Senators Say Tech Platforms Hurt Children
February 1, 2024
Two lawmakers released Meta internal documents showing that officials asked the CEO to invest in protections for children.