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Wall St plunges as tight labor market fuels Fed concerns

Procter & Gamble tumbles after commodity price pressure warning Netflix down ahead of quarterly results Dow down 0.36%, S&P 500 down 0.35%, Nasdaq down 0.55% NEW YORK, Jan 19 (Reuters) – U.S. stock indexes fell on Thursday after data indicating a tight labor market fueled concerns that the Federal Reserve will maintain its aggressive rate …

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Crypto lender Genesis prepares to file for bankruptcy, reports Bloomberg News

Jan 18 (Reuters) – Cryptocurrency lender Genesis Global Capital plans to file for bankruptcy as soon as this week, Bloomberg News reported on Wednesday, citing people with knowledge of the situation. A bankruptcy filing has been expected for weeks, after the company froze customer redemptions on November 1. 16 following the fall of leading cryptocurrency …

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Microsoft to cut 10,000 jobs, adding to tech layoff glut

DAVOS, Switzerland, Jan 18 (Reuters) – Microsoft Corp (MSFT.O) said on Wednesday it would cut 10,000 jobs and take a $1.2 billion charge from profits as its cloud computing customers reassess their expenses and that the company prepares for a possible recession. . The layoffs add to the tens of thousands announced in recent months …

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Apple indefinitely postpones launch of AR glasses – Bloomberg News

Jan 17 (Reuters) – Apple Inc (AAPL.O) has postponed the launch of its lightweight augmented-reality glasses indefinitely due to technical challenges, but is still planning to unveil its first mixed-reality headset this year, Bloomberg News reported on Tuesday . The iPhone maker’s mixed-reality headset – which combines both augmented and virtual reality – is set …

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Microsoft to cut thousands of jobs across all of its divisions – reports

Jan 17 (Reuters) – Microsoft Corp (MSFT.O) plans to cut thousands of jobs and some positions are expected to be cut in the human resources and engineering divisions, media reports said on Tuesday. The expected layoffs would be the latest in the US tech sector, where companies like Amazon.com Inc (AMZN.O) and Meta Platforms Inc …

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Tesla video promoting self-driving was staged, engineer testifies

Jan 17 (Reuters) – A 2016 video that Tesla (TSLA.O) used to promote its self-driving technology was staged to show capabilities such as stopping at a red light and accelerating at a green light that the system didn’t have, according to testimony from a senior engineer. The video, which remains archived on Tesla’s website, was …

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Microsoft to expand access to ChatGPT as OpenAI investment rumors swirl

Jan 16 (Reuters) – Microsoft Corp said on Monday it was expanding access to wildly popular software from OpenAI, a startup it backs and whose futuristic chatbot ChatGPT has captivated Silicon Valley. Microsoft said the startup’s technology, which it has so far previewed to its cloud computing customers in a program called Azure OpenAI Service, …

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Microsoft faces EU antitrust warning over Activision deal – sources

BRUSSELS, Jan 16 (Reuters) – Microsoft (MSFT.O) is likely to receive an EU antitrust warning about its $69 billion bid for “Call of Duty” maker Activision Blizzard (ATVI.O), people familiar with the matter said, that could pose another challenge to completing the deal. The European Commission is readying a charge sheet known as a statement …

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