Stocks associated with special purpose acquisition companies crashed in 2022—with an exception: Freyr Battery The shares are up some 34%, year to date, despite stumbling this past Monday after releasing earnings. The stock’s rise, in fact, has accelerated; it’s up 5% in the past month, and 80% over six months. The Norwegian start-up had a … Read more
Amidst economic uncertainty, Walt Disney Co (NYSE: DIS) is reportedly planning to freeze hiring and cut some jobs. In addition, the media conglomerate has reported its quarterly results with an operating loss of $1.47 billion for its consumer segment. The revenue for the company’s Media and Entertainment segment was $12.7 billion, down 3% year-over-year. The operating … Read more
Disney (DIS) is reining in its spending after the company reported weak fourth quarter earnings, which sent the stock plummeting to a new 52-week low as investors zeroed in on the media giant’s widening streaming losses. In an internal memo obtained by Yahoo Finance, Disney CEO Bob Chapek told division leaders on Friday that the … Read more
(Bloomberg) — GlobalFoundries Inc., the biggest US-based provider of made-to-order semiconductors, is beginning job cuts and has enacted a hiring freeze. Most Read from Bloomberg The company Friday informed its employees of the impending workforce reductions, without disclosing when exactly they would occur or which divisions would be affected. The chipmaker said Tuesday during an … Read more
New British Prime Minister Rishi Sunak is considering freezing the country’s foreign aid budget for an additional two years, the Telegraph reported on Friday, citing sources. Britain’s spending on foreign aid is set at 0.5% of national income. The government had cut its foreign aid spending two years ago as the country faced a huge … Read more
Breadcrumb Trail Links PMN Business Canadian homebuilder Mattamy Group Corp. saw a huge decline in orders during the summer months, the latest signal of a rapid slowdown in North American housing. Author of the article: Bloomberg News Esteban Duarte and Derek Decloet Article content (Bloomberg) — Canadian homebuilder Mattamy Group Corp. saw a huge decline … Read more
Canadian Prime Minister Justin Trudeau speaks at the NATO summit in Hertford, England, on Dec. 4, 2019. On Friday, he announced a national freeze on the sale, purchase, and transfer of handguns. Chris J Ratcliffe/Getty Images hide caption toggle caption Chris J Ratcliffe/Getty Images Canadian Prime Minister Justin Trudeau speaks at the NATO summit in … Read more
The nation’s largest newspaper chain, Gannett, continued its cost cutting measures today, announcing a hiring freeze, a mandatory unpaid five-day leave for every employee this December, a six-month sabbatical, a suspension of 401K matches from the company, voluntary severance offer for those who want to retire or leave the company and an optional four-day workweek. … Read more
Facebook’s parent company Meta has announced it is implementing a hiring freeze “for most roles across the company” and will “minimise costs”, as the social media group continues to battle an advertising slump and rising competition. In an internal memo seen by the Financial Times, Lori Goler, Meta’s head of people, wrote to staff that, … Read more
U.K. government unveils bill to 'seize, freeze and recover' crypto Source link