Amazon.com Inc hit $2 trillion in market value for the first time on Wednesday, becoming the fifth U.S. company to surpass that level as optimism around artificial intelligence and potential interest rate cuts this year drove demand for technology-related stocks. The stock rose 3.4% to $192.70, giving the e-commerce giant a market value of over … Read more
New Delhi: Amazon.com Inc said on Wednesday it was shutting down its Halo division that sells health and sleep trackers as the technology giant kicks off wider company layoffs. The company said it will stop supporting Halo services from July 31, and will fully refund Halo devices purchases made in the preceding 12 months. “We … Read more
New Delhi CNN Business — It has been almost three years since Covid-19 first hit China, but the country’s relentless adherence to lockdowns continues to hobble business and the economy. Top global and Chinese companies, from carmakers to tech giants, have experienced huge disruptions to their business in recent days as the world’s second-largest economy … Read more
Employees at many Apple Inc stores in the United States are working to unionize, the Washington Post reported on Friday, citing people familiar with the efforts. The report said employee groups at at least two Apple retail stores are backed by major national unions and are preparing to file paperwork with the National Labor Relations … Read more
New York: Megacap technology stocks rallied through a global pandemic, fears of a bubble and rising regulatory scrutiny. But the bond market could be the hurdle that finally trips them up. Apple Inc., Microsoft Corp., Amazon.com Inc., Alphabet Inc. and Facebook Inc., the five largest U.S. companies, have delivered reliable outsized gains to shareholders for … Read more
Alphabet Inc’s Google will use processors designed in-house for its Pixel phones launching later this fall, in a shift away from Qualcomm Inc’s technology that has powered the search giant’s Android devices for more than 15 years. The processor, called Tensor, will power the Pixel 6 and Pixel 6 Pro phones, Google said in a … Read more
Apple Inc. rallied to close at record high Wednesday amid optimism on its corporate growth outlook for the second half of the year. It gained 1.8% to close at $144.57, smashing its January peak as some on Wall Street forecast a stronger rally over the next six months with iPhone sales poised to climb. It … Read more
High stock price valuations may be giving some investors pause, but it hasn’t stopped U.S. corporations from plowing even more cash into their shares. Morgan Stanley and Wells Fargo Inc. are among the nation’s biggest lenders that signaled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying … Read more
By Katherine Chiglinsky Warren Buffett delivered a clear verdict Saturday on the state of the U.S. economy as it emerges from the pandemic: red hot. “It’s almost a buying frenzy,” the Berkshire Hathaway Inc. chief executive officer said during the conglomerate’s annual meeting, which was held virtually from Los Angeles. “People have money in their … Read more
“Let me begin with the obvious: e-mobility has won the race,” Herbert Diess, chief executive officer of Volkswagen AG, said on Monday. “It is the only solution to reduce mobility emissions fast.” Diess was speaking at an event VW dubbed “Power Day,” where the company laid out its big plans for beating Tesla Inc. and … Read more