Browsing: Business

Pinterest shares plummeted in extended trading on Thursday following the company’s disappointing revenue report and a weaker-than-expected forecast. However, the stock managed to recover some losses after Pinterest unveiled a new partnership with Google. In its fourth-quarter earnings report, Pinterest missed

Cocoa futures prices have surged more than $1,000 or nearly 40% since the start of the year to hit an all-time high of $5,874 per metric ton. This significant spike is attributed to adverse weather conditions plaguing cocoa-producing regions in West Africa, where

In a continuation of an unsettling trend, the tech industry is facing yet another wave of job cuts, further exacerbating the repercussions of widespread layoffs from the previous year. The year 2024 has already witnessed over 32,000 tech professionals losing

In a significant strategic move, Snap Inc., the parent company of Snapchat, has announced its intention to reduce its global workforce by 10%. This decision will result in the termination of approximately 500 jobs, with the primary aim of fostering in-person collaboration

Chinese authorities are taking measures to boost bank lending and equity markets. However, it seems unlikely that these actions will reverse negative investor sentiment significantly. Beijing’s focus on national strategy points to potential deflationary risks as China prepares for global

In a surprising move, Deutsche Bank has declared its intention to cut 3,500 jobs as part of a broader strategy to trim costs by 2.5 billion euros (USD 2.7 billion) within the coming year. This announcement coincided with the release of the

The U.S. stock market exhibited fluctuations as the Federal Reserve opted to hold key interest rates steady within the range of 5.25% to 5.50%. This decision came alongside a statement emphasizing that despite some progress, inflation remained at elevated levels. Prior to

Samsung Electronics, the world’s leading producer of dynamic random-access memory chips, has reported a 34.57% decrease in its operating profit for the fourth quarter compared to the previous year. This decline is consistent with the company’s guidance issued earlier this

United Parcel Service (UPS) reported a significant drop in shipping volume, both domestically and internationally, in its fourth-quarter earnings report released on Tuesday. The company also revealed plans to implement a workforce reduction of 12,000 employees in 2024 as part of

Norway’s colossal sovereign wealth fund announced a groundbreaking achievement on Tuesday, as it revealed a record profit of $213 billion (2.22 trillion kroner) for the year 2023. This remarkable financial milestone was primarily fueled by the fund’s robust investments in