Exclusive: EV maker Rivian to cut 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching … Read more

End of easy-cash era is going to hurt

LONDON, Feb 1 (Reuters) – The end of the easy-cash era is over and its impact has yet to be felt on world markets, hopeful that the pain of aggressive rate hikes and high inflation has passed. US and UK central banks are unwinding stimulus further by offloading bonds they hold, and the European Central … Read more

Norway wealth fund posts record $164 billion loss

Loss in 2022 exceeds previous record from 2008 Inflation, geopolitical tensions remain risk factors Record inflow of money from the oil and gas industry OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a … Read more

Morning Bid: Fasten your seatbelts – Reuters

Morning Bid: Fasten your seatbeltsReuters

IBM cuts 3,900 jobs, misses annual cash target

Jan 25 (Reuters) – IBM Corp (IBM.N) on Wednesday announced 3,900 layoffs as part of some asset divestments and missed its annual cash target, dampening cheer around beating revenue expectations in the fourth quarter. Chief Financial Officer James Kavanaugh told Reuters that the company was still “committed to hiring for client-facing research and development”. The … Read more

S&P 500 closes slightly red as weak corporate guidance fuels recession fears

AT&T gains on subscriber adds General Dynamics slides after weak outlook Tesla, IBM post results Indexes: Dow up 0.03%, S&P 500 off 0.02%, Nasdaq down 0.18% NEW YORK, Jan 25 (Reuters) – The S&P 500 ended nominally lower on Wednesday as a string of corporate earnings ran the gamut from downbeat to dismal, reviving worries … Read more

Amazon deepens healthcare push with $5 monthly subscription

Jan 24 (Reuters) – Amazon.com Inc (AMZN.O) said on Tuesday it is offering a $5 monthly subscription plan for US Prime members that will cover a range of generic drugs and their doorstep delivery, furthering the ecommerce giant’s push into healthcare . The program, named RxPass, includes more than 50 medications addressing over 80 chronic … Read more

Analysis: Europe Inc earnings season a test for market optimism

LONDON, Jan 23 (Reuters) – Europe’s upcoming corporate earnings season is likely to show whether the renewed optimism about the economy that has buoyed equities in recent weeks is grounded in reality. The pan-European STOXX index (.STOXX) is up 6% since the start of the year, hitting its highest since April after better-than-expected economic data … Read more

Brandon Moreno: ‘I Just Want to be the Guy Who Loves His Job’ | UFC 283 – UFC – Ultimate Fighting Championship

Brandon Moreno: ‘I Just Want to be the Guy Who Loves His Job’ | UFC 283UFC – Ultimate Fighting Championship Brandon Moreno UFC champ again after TKO of Deiveson FigueiredoESPN Brandon Moreno details backstage altercation with Alexandre Pantoja after UFC 283 winMMA Fighting Brandon Moreno Octagon Interview | UFC 283UFC – Ultimate Fighting Championship Angry … Read more

US labor market still tight; housing mired in recession

Weekly jobless claims fell 15,000 to 190,000 Continuing claims increase 17,000 to 1,647 million Single-family housing starts to rise 11.3%; permits fall 6.5% WASHINGTON, Jan 19 (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to another month of solid job growth and continued labor market tightness … Read more