P&G Warns of Higher Costs as Quarterly Sales Beat Estimates
Procter & Gamble (P&G) has raised its estimate of the impact of rising raw material, energy and freight costs on its fiscal 2027 profit to $1.4 billion, up from the earlier projection of $1...
Short Sellers Earn $6 Billion as AI Data Centre Stocks Slide
Investors betting against US neocloud and data centre companies have recorded nearly $6 billion in paper profits so far in October, as concerns over the sustainability of debt-fuelled artificial intelligence infrastructure investments trigger a...
eBay to Cut 9% of Global Workforce Amid Restructuring
eBay announced on Thursday that it will cut approximately 9% of its global workforce, affecting around 1,000 employees, as part of a restructuring plan to simplify operations and redirect resources towards its key strategic...
OpenAI Expands ChatGPT Ads to 89 Countries to Boost Revenue
OpenAI announced on Wednesday that it is expanding advertising on ChatGPT to 26 additional countries, bringing the total number of markets to 89. The move comes as the artificial intelligence company strengthens its advertising...
Critical PHP Vulnerabilities Force Government Websites Offline
Government websites across Europe and other regions went offline on Wednesday after the discovery of two critical vulnerabilities in PHP, a widely used programming language that powers a significant portion of the internet. PHP...
Netflix Shares Slide 6% as Weak Profit and Ad Outlook Raise Growth Concerns
Netflix shares fell 6% in premarket trading on Wednesday after its weaker profit outlook and reduced advertising revenue forecast heightened investor concerns about slowing growth and intensifying competition in the streaming industry. The stock...
EssilorLuxottica Shares Surge 11% on Strong Third-Quarter Revenue
Shares of EssilorLuxottica, the Franco-Italian eyewear giant behind Ray-Ban, surged 11.4% on Wednesday after the company reported third-quarter revenue that exceeded market expectations. Revenue reached €7.49 billion, surpassing analysts’ estimates of €7.36 billion, as...
Netflix Faces Growth Concerns as User Engagement Weakens
Netflix is facing growing investor concerns over its ability to sustain growth as competition intensifies and user engagement shows signs of weakening. The streaming giant is expected to report third-quarter results on Tuesday, with...
Albertsons Seeks Over $8 Billion in Damages From Kroger Over Failed Merger
US grocery chain Albertsons Companies began presenting its case against rival Kroger on Monday, seeking more than $8 billion in damages over the collapse of their proposed $24.6 billion merger in 2024. Albertsons alleges...
Tenstorrent Raises $1.5 Billion, Valuation Surges to $6.2 Billion
AI chip startup Tenstorrent has raised $1.5 billion in a late-stage funding round, valuing the company at $6.2 billion post-money. Announced on Monday, the funding more than doubles its valuation from December 2024, when...