By Chris Isidore, CNN Boeing plans to cut about 2,000 white-collar jobs in finance and human resources, and it will be shifting some of that work to an outside contractor in India. Although Boeing will reduce office staff, the company is preparing to add 10,000 employees focused on engineering and manufacturing. The company said that
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By Jordan Valinsky, CNN Bed Bath & Beyond is closing 150 more stores — just a week after the struggling retailer announced the closure of 87 locations. The company’s brick-and-mortar footprint has already shrunk dramatically, a regulatory filing showed late Monday, and the new closings mean it will have shuttered 400 stores in the past
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By Anna Cooban, CNN Amazon has announced that it will help victims of the Turkey earthquake by donating food, medicine and equipment from its Istanbul warehouse. The retail giant said in a statement Monday that it had activated its “disaster relief capabilities” in response to a 7.8-magnitude earthquake that hit parts of southern Turkey and
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By Nicole Goodkind, CNN Here’s what investors are paying attention to this Tuesday morning: â–¸ President Joe Biden is set to deliver his annual State of the Union Address at 9 p.m. ET in front of a newly fragmented Congress and to Americans confused by positive economic signs, a dismal earnings season and ongoing recession
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By Michelle Toh and Anna Cooban, CNN BP’s annual profit more than doubled last year to an all-time high of nearly $28 billion, extending a record run of earnings for the world’s oil majors that is fueling calls for higher taxes on the windfall gains. The British energy company also announced Tuesday that it would
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By Reuters Australia’s central bank raised its cash rate by 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, in a more hawkish policy tilt than many had expected. Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) also dropped previous guidance that
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By Rob McLean, CNN Microsoft reported that a “full restoration” of its Outlook service was nearly complete mid-morning Tuesday after a widespread outage for several hours overnight halted email and disrupted Teams and other products. Earlier Tuesday morning, Microsoft said on its service page that it had “applied mitigation throughout the affected infrastructure, and we’re
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By Michelle Toh, CNN Alibaba says it will launch its own ChatGPT-style tool, becoming the latest tech giant to jump on the chatbot bandwagon. The Chinese behemoth said it was testing an artificial intelligence-powered chatbot internally. It did not share details of when it would launch or what the application would be called. “Frontier innovations
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By Michelle Toh, CNN Shares in Baidu soared on Tuesday, after the Chinese search engine giant said it would be launching its own ChatGPT-style service. Its artificial intelligence chatbot called “Wenxin Yiyan” in Chinese or “ERNIE Bot” in English will launch in March, a spokesperson told CNN on Tuesday, adding that the project is currently
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By Allison Morrow Binance, the world’s largest crypto exchange, said it would temporarily halt transfers of US dollars starting Wednesday. “Only a small proportion of our users will be impacted by this and we are working hard to restart the service as soon as possible,” the company tweeted Monday. “All other methods of buying and
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By Catherine Thorbecke, CNN Google on Monday unveiled a new chatbot tool dubbed “Bard” in an apparent bid to compete with the viral success of ChatGPT. Sundar Pichai, CEO of Google and parent company Alphabet, said in a blog post that Bard will be opened up to “trusted testers” starting Monday, with plans to make
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By Gregory Wallace, CNN Airline regulators on Monday proposed slapping United Airlines with a $1.15 million fine for safety concerns about how it operated some 777 planes. United removed an important safety measure — checking the fire warning system — from its list of actions that crews must complete before each flight of the 777s,
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By Hanna Ziady, CNN Tens of thousands of nurses and nearly 12,000 ambulance workers went on strike Monday over pay and working conditions in the biggest walkout in the 75-year history of Britain’s National Health Service (NHS). Escalating industrial action comes after years of falling wages, stretched budgets and staff shortages that have left the
Continue Reading By Hanna Ziady, CNN Tens of thousands of nurses and nearly 12,000 ambulance workers went on strike Monday over pay and working conditions in the biggest walkout in the 75-year history of Britain’s National Health Service (NHS). Escalating industrial action comes after years of falling wages, stretched budgets and staff shortages that have left the
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By Jordan Valinsky, CNN Business AMC Theaters is changing the way it charges for seats. America’s largest movie chain announced that the prices of a ticket will now be based on seat location, meaning seats in the front will be cheaper while more desirable seats in the middle will now cost more. The ticket pricing
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By Allison Morrow, CNN The new management of FTX is pressuring hundreds of politicians and political organizations to return millions of dollars donated by the crypto platform or its founders before it went bankrupt last year. The company, which collapsed in November and is now at the center of a massive federal fraud investigation, said
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By Anna Cooban, CNN Europe’s ban on Russia’s diesel arrived painlessly on Sunday. Although the EU cut off its biggest supplier, diesel futures prices in the bloc fell 1.6% on Monday, amounting to a 20% loss over the past two weeks as demand in the region has waned, and efforts by countries to stockpile ahead
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By Paul R. La Monica, CNN Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time. And that means that Corporate America has to be ready for the worst. The CEO of Bank of America, America’s second-largest bank, told CNN
Continue Reading By Paul R. La Monica, CNN Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time. And that means that Corporate America has to be ready for the worst. The CEO of Bank of America, America’s second-largest bank, told CNN
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By Betsy Klein, CNN Treasury Secretary Janet Yellen said Monday that the probability of a US recession this year is low as she touted job growth and low unemployment on the eve of President Joe Biden’s State of the Union address. “You don’t have a recession when you have 500,000 jobs and the lowest unemployment
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