Financial Performance

Updated Dec. 11, 2023 7:41 am ETBoeing is elevating Stephanie Pope to become its No. 2 executive, setting her up as the heir apparent to Chief Executive David Calhoun as the plane maker prepares for its next leadership transition.Pope, who heads Boeing’s services arm, was promoted to chief operating officer and will start in the newly created role on Jan. 1, the company said Monday. The Wall Street Journal reported Sunday that the three-decade Boeing veteran beat out other top executives for the role.Copyright ©2023Dow…

SINGAPORE—Nvidia’s CEO said he still hopes to supply high-end processors to China, days after U.S. Commerce Secretary Gina Raimondo warned U.S. companies against sales of AI-enabling chips to the country in the name of national security. “Our plan now is to continue to work with the U.S. government to come up with a new set of products to comply with the new regulations,” Jensen Huangtold reporters in Singapore Wednesday. “The new regulations have additional limits. We have to come up with new products to comply with…

Updated Dec. 5, 2023 4:45 pm ETProcter & Gamble said it was booking a $1.3 billion charge on its Gillette business, adjusting the value of a shaving giant that it took over nearly two decades ago.  P&Gbought Gillette for stock initially valued at $54 billion in 2005, making it a dominant player in the global razor business. The unit has struggled in recent years as upstarts, such as Dollar Shave Club and Harry’s, have entered the market with lower prices. As of June 2023, P&G estimated its grooming business…

Twilio said Monday that it plans to shed hundreds of jobs as it seeks to streamline its operations and accelerate its path to profitable growth.The communications and customer data company said it plans to eliminate about 5% of its 5,900 employees, which will come at a cost of about $25 million to $35 million in various charges.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Twiliosaid Monday that it plans to shed hundreds of jobs as it seeks to streamline its…

Updated Nov. 29, 2023 8:59 am ETGeneral Motorsplans to sharply increase cash return to shareholders, as Chief Executive Mary Barra seeks to reassure investors about the health of GM’s core car-making business after setbacks in fledgling pursuits such as electric and driverless vehicles.The company also said Wednesday it will work to offset higher labor expenses from its new contract with the United Auto Workers and unionized employees in Canada. The contracts will add $1.5 billion next year, rising to $2.5 billion in…

Okta said hackers stole data for all of its customer support system users in a breach that the identity-verification company disclosed last month.Okta Chief Security Officer David Bradbury said all Okta Workforce Identity Cloud and Customer Identity Solution customers are affected by the hack, except for government customers that use a separate system. Earlier this month, Okta estimated that less than 1% of customers were affected by the breach.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…

It’s the time of year many people have been anxiously awaiting: Spotify Wrapped season. For nearly a decade, all Spotify users get a shareable summary of their annual listening habits that reveals who they really are and the year they had—stripping away any pretense of taste. The results often surprise people. People who think they’re Beethoven aficionados may find they’re actually bigger fans of Beyoncé.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 It’s the time of…

Chip maker Nvidia said sales reached a record in its latest quarter and gave a positive outlook, suggesting investments in artificial intelligence continue to be strong.Sales more than tripled to $18.1 billion in Nvidia’s latest fiscal quarter, above Wall Street forecasts in a survey of analysts by FactSet. Profit for the company, whose semiconductors underpin the AI boom, also shot up to $9.2 billion from $680 million a year earlier, above estimates.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…

Cruise was once one of the bright spots in the tenure of GM CEO Mary Barra. Now both of its co-founders have quit and it is grappling to rebound from alarming mishaps. Cruise was once one of the bright spots in the tenure of GM CEO Mary Barra. Now both of its co-founders have quit and it is grappling to rebound from alarming mishaps. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink…

Updated Nov. 20, 2023 4:48 pm ETElectric-vehicle startup Fisker has lost its second chief accounting officer in less than a month, the latest setback for a company that only recently started selling its first model. Florus Beuting, who was named chief accounting officer in early November, has left the automaker, according to people familiar with the situation. His exit follows the departure of his predecessor, who left in late October after roughly three years at the startup to take a job with another company, leading…