Foxconn unrest risks iPhone shipments, weighs on Apple shares

Foxconn Zhengzhou plans Nov shipments to fall further – source Worker unhappiness at plant escalated into protests this week Over 20,000 workers, mostly new recruits, have left – source TAIPEI, Nov 25 (Reuters) – Foxconn’s (2317.TW) flagship iPhone plan in China is set to see a further reduction in November shipments after the latest bout … Read more

Roche’s Alzheimer’s drug fails to meet goal in long awaited trial

Trials show small benefit, but without statistical validity Roche’s setback leaves Biogen, Eisai as leaders in the field Onus on Roche CEO-designate to revive development fortunes Roche shares down 3.4%, development partner Morphosys down 29% Nov 14 (Reuters) – Roche’s (ROG.S) Alzheimer’s drug candidate could not be shown to slow dementia progression in two drug … Read more

Musk warns of Twitter bankruptcy as more senior executives quit

Nov 10 (Reuters) – Twitter’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US regulator and departures of senior executives viewed as future leaders. The billionaire told Twitter employees on a call that he could not rule … Read more

US stocks end higher, Meta jumps as investors eye midterms

Meta Platforms rallies after report of job cuts Apple slips as COVID-19 curbs crimp iPhone production in China Indexes close: S&P 500 +0.96%, Nasdaq +0.85%, Dow +1.31% Nov 7 (Reuters) – Wall Street ended sharply higher Monday as investors focused on Tuesday’s midterm elections that will determine control of Congress, while shares of Meta Platforms … Read more

Twitter lays off staff as Musk blames activists for ‘massive’ ad revenue drop

Musk looking to ax around half of Twitter’s workforce Employees file class action against Twitter Staff lose access to systems Volkswagen pulls ads Nov 4 (Reuters) – Twitter Inc started a major round of layoffs on Friday, alerting employees of their job status by email after barring the entrances to offices and cutting off workers’ … Read more

Adidas ends Kanye West partnership over anti-Semitism, hate speech

Adidas ends partnership immediately To take ~$250 mln hit to 2022 net income Adidas sole owner of design rights Oct 25 (Reuters) – Adidas AG (ADSGn.DE) is immediately terminating its partnership with Kanye West, the sporting goods maker said on Tuesday, reacting to a rash of offensive behavior from the American rapper and designer. The … Read more

More US companies charging employees for job training if they quit

WASHINGTON, Oct 17 (Reuters) – When a Washington state beauty salon charged Simran Bal $1,900 for training after she quit, she was shocked. Not only was Bal a licensed esthetician with no need for instruction, she argued that the training courses were specific to the shop and low quality. Bal’s story mirrors that of dozens … Read more

Volkswagen expected to rubber-stamp landmark Porsche IPO plan -source

Attendees look at the 2022 Porsche 718 Cayman GT4 RS during the 2021 LA Auto Show in Los Angeles, California, U.S. November 17, 2021. REUTERS/Ringo Chiu Register now for FREE unlimited access to Reuters.com register HAMBURG/FRANKFURT, Sept 5 (Reuters) – Volkswagen’s (VOWG_p.DE) supervisory board is expected to approve a plan to list sportscar maker Porsche … Read more

Bed Bath & Beyond CFO plunges to death at New York’s Jenga tower

Signage is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly/File Photo Register now for FREE unlimited access to Reuters.com register Sept 4 (Reuters) – Bed Bath & Beyond Inc’s (BBBY.O) chief financial officer fell to his death from New York’s Tribeca skyscraper known as … Read more

Bed Bath & Beyond to cut jobs, close stores in bid to reverse losses

Aug 31 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. Investors, however, remain concerned that the retailer’s plan, … Read more