Finance
Volkswagen Seeks 10% Pay Cut from German Workers as Q3 Profit Drops 42%
November 01, 2024 – According to Reuters, Volkswagen has requested a 10% pay cut from its German employees on Wednesday, citing it as the only way to save jobs and maintain competitiveness amid falling profits and threats of strikes from the labor union. The company, which is facing a three-year low in profits, has not…
Microsoft Reports $246.67 Billion Net Income in First Quarter of 2025 Fiscal Year, Up 11% Year-Over-Year
October 31, 2024 – Microsoft has released its financial results for the first quarter of the 2025 fiscal year, revealing a significant growth in revenue and net income. According to the report, the company’s revenue for the quarter stood at 655.85billion,markinga16565.17 billion reported in the same period last year. This growth was consistent when excluding…
Intel to Lay Off Hundreds at Polish R&D Center
October 30, 2024 – According to a report by the Warsaw Business Journal on October 29, citing documents submitted by Intel to the local labor office, the technology giant is planning to lay off hundreds of employees at its research and development center in Gdansk, Poland. In response to the report, an Intel spokesperson in…
German Automotive Industry Faces Job Losses of Up to 186,000 by 2035 Amid Transition
October 30, 2024 – According to a recent study published by the German Association of the Automotive Industry (VDA) on Tuesday, the transformation of the German automotive industry could potentially result in the loss of up to 186,000 jobs by 2035, with approximately a quarter of those positions already eliminated. The study, conducted by Prognos…
Alphabet Reports $263.01 Billion Net Income in Q3, Up 34% YoY
October 30, 2024 – Alphabet, the parent company of Google, today released its financial results for the third quarter of fiscal year 2024, ended September 30. The report revealed that the tech giant achieved a total revenue of 882.68billion,markinga15766.93 billion reported in the same period last year. When adjusted for currency fluctuations, the growth rate…
Microsoft Hits Back: Google Accused of Manipulating Regulators and Public Perception
October 29, 2024 – In a recent 1500-word blog post, Rima Alaily, the Deputy General Counsel of Microsoft, accused Google of using unfair tactics to undermine Microsoft. Alaily detailed multiple instances where Google attempted to discredit Microsoft through competition regulators, policymakers, and by misleading the public. Despite Google’s offer of a nearly $500 million settlement,…
Intel CEO Expresses Frustration Over Delayed Chip Act Funding
October 28, 2024 – According to a report by The New York Times, Intel CEO Pat Gelsinger has expressed “frustration” over the delay in disbursement of funds from the U.S. government under the Chips and Science Act. Gelsinger and U.S. Commerce Secretary Gina Raimondo recently sat for an interview to discuss issues related to the…
Elon Musk Rebuts Allegations of Illegal Work Status in Initial US Startup
October 28, 2024 – Elon Musk has refuted reports that he worked illegally in the United States during the early stages of his entrepreneurial career. These allegations, which circulated widely over the weekend, contradicted Musk’s recent political statements regarding illegal immigration. According to a Saturday report by The Washington Post, Musk did not have a…
Intel Taps Navid Shahriari as New Head of Process Technology Development
October 26, 2024 – According to a report by Oregon Live, Intel has notified its employees on Wednesday local time that Navid Shahriari has been selected to succeed Ann Kelleher as the head of the Technology Development (TD) department. In a statement, Intel clarified, “Ann is not leaving. Given the significance of Technology Development, we…
NVIDIA CEO Jensen Huang to Visit Thailand in December, Investment Plans to be Announced
October 24, 2024 – Pichai Naripthaphan, the Thai Minister of Commerce, revealed to Bloomberg on the 21st of this month that Jensen Huang, CEO of NVIDIA, is scheduled to visit Bangkok, the capital of Thailand, in December. During this visit, Huang is expected to announce the company’s investment plans in the country. While Pichai Naripthaphan…