The Meta Layoffs Aren't Good for Employees, but They Might Be Good for the Company
Chris Hill, The Motley Fool
November 13, 2022, 8:07 a.m. ·26 min read
How long it will take to know if Mark Zuckerberg's investments in the metaverse will pay off. Amazon angering Prime members with an "upgrade" of their music service that changes the user experience for the worse. Motley Fool analyst Dylan Lewis and Motley Fool producer Ricky Mulvey discuss the changing advertising landscape and what the shifts mean for major players like Netflix and Google.
Is Lightspeed Stock a Buy on the Dip?
LSPD stock has fallen a lot over the last year. Is it a bargain? The post Is Lightspeed Stock a Buy on the Dip? appeared first on The Motley Fool Canada.
Capital Group announces start of long-planned leadership transition
Capital Group, one of the world's largest and most experienced active investment managers, today announced its board of directors has approved the election of leaders to new roles that will assume the management responsibilities of Tim Armour, Chairman and CEO and Rob Lovelace, Vice-Chair and President. Armour and Lovelace will both step down from Capital Group's management committee in October of this year.
Exclusive-Chile mine delays to slow copper growth; peak seen lower, later -regulator
Copper production in Chile, the world's largest producer of the red metal, will grow at a slower rate this decade than previously hoped, a government report seen by Reuters showed, with peak output later and lower than estimated a year ago. Likely output of the red metal will peak at some 7.14 million tonnes in 2030, two years later than anticipated as delays hit mining projects in the Andean nation, according to an unpublished report from regulator Cochilco obtained by Reuters. Production snarls in Chile could prop up the global price of the metal, which has soared since 2020 past $9,000 per tonne.
BERLIN/STOCKHOLM (Reuters) -SAP said on Thursday it planned to cut 3,000 jobs, or 2.5% of its global workforce, and explore the sale of its remaining stake in Qualtrics, as the Germany software company looks to cut costs and focus on its cloud business. "We expect only a moderate cost saving impact for 2023, and a more pronounced one in 2024, about 300 million euros to 350 million in run rate savings as of 2024," Chief Financial Officer Luka Mucic said in a call with journalists. The layoffs come after SAP reported a 30% revenue increase in its cloud business in the fourth quarter, helped by strong demand for its software.
U.S. Senator blocks bid to close EV tax window
Senator Debbie Stabenow thwarted a bid on Thursday by fellow Democrat Joe Manchin to pass a measure that would block some electric vehicles from receiving a $7,500 tax credit. The $430 billion U.S. Inflation Reduction Act passed in August restricts the $7,500 consumer tax credits to North American-made EVs and imposes new battery sourcing rules and again made General Motors and Tesla eligible for EV tax credits. The U.S. Treasury in December said it would not issue proposed guidance on battery sourcing rules until March, effectively giving some EVs not meeting new requirements a few months of eligibility in 2023 before the battery rules take effect.
Dollar higher as strong U.S. data backs a hawkish Fed
The dollar edged higher against the euro on Thursday after data showed the U.S. economy maintained a strong pace of growth in the fourth quarter, backing the case for the U.S. Federal Reserve to maintain its hawkish stance for longer. A separate report from the Labor Department showed initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 186,000 for the week ended Jan. 21. "A somewhat mixed picture painted by the U.S. data," said Stuart Cole, head macro economist at Equiti Capital in London.
Jack Mintz: A 'just transition' out of energy? Ask the people of Hanna about that
Ottawa's agenda is to replace lost jobs with jobs that are sustainable jobs, but not necessarily well-paying
Maple Leaf Foods Named to Forbes List of Canada's Best Employers 2023
Maple Leaf Foods, Inc. (TSX: MFI) has been named to the Forbes list of Canada's Best Employers 2023. This prestigious award is presented by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list was announced on January 25, 2023 and can be viewed on the Forbes website.
H&M said on Friday soaring costs had slashed its profits, the latest fast-fashion retailer to feel the pinch as consumers cut back, while LVMH and Salvatore Ferragamo revealed the damage to luxury sales caused by China's COVID-19 policies. Shares in H&M, the world's No. 2 fashion retailer, fell as much as 6% in early trade after quarterly operating profit sank to 821 million Swedish crowns ($79.7 million) from 6.26 billion a year earlier. The results highlighted the challenge for fashion retailers facing higher bills for textiles, energy and shipping at the same time as rising costs for food, energy and rents force consumers to be more picky about what they buy.
Nissan and Renault close in on overhaul of alliance
Nissan and Renault are closing in on a sweeping overhaul of their globe-spanning automaking alliance as top executives meet on Thursday for talks to reset the two-decade-old partnership and chart a course for an uncertain electric future. Leaders of Nissan Motor Co Ltd and Renault SA are meeting via video link for an alliance board meeting, sources previously told Reuters. Renault is looking for the Japanese automaker to invest in its new electric-vehicle business while Nissan wants Renault, its top shareholder, to sell down its roughly 43% stake and put the 23-year alliance on a more equal footing.
Eastlink Fibre Upgrade nears completion in Mindemoya
Eastlink confirmed today that it has begun to connect residents in Mindemoya to its newly upgraded fibre network bringing high speed internet to residents and businesses in the town.
RBC Royal Bank increases prime rate
RBC Royal Bank is increasing its prime rate by 25 basis points to 6.70 per cent from 6.45 per cent, effective January 26, 2023.
THIRTY-SIX NEW RENTAL HOMES FOR INDEPENDENT SENIORS COMING TO FORT ST. JAMES
Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion, Taleeb Noormohamed, Member of Parliament for Vancouver Granville, Ravi Kahlon, BC Minister of Housing, Brooke Eschuk, Economic Development Officer, District of Fort St. James, and Tyrell Arnold, Executive Director, Connexus Community Resources announced a combined $8 million investment to build 36 new rental homes for independent seniors in Fort. St. James. Redevelopment of Connexus Fort St. James Seniors Housin
Sangoma Technologies: 1 of the Cheapest Stocks Canadian Investors Can Buy
Sangoma Technologies is an impressive growth stock that has seen its share price fall significantly, making it a top stock to buy today. The post Sangoma Technologies: 1 of the Cheapest Stocks Canadian Investors Can Buy appeared first on The Motley Fool Canada.
India's Adani Group says evaluating action against Hindenburg Research
Adani Group said on Thursday it is evaluating "remedial and punitive action" under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens. Shares in seven listed group companies of Adani lost $10.73 billion in market capitalisation in India on Wednesday after Hindenburg released the report, which also said it held short positions in the conglomerate through its U.S.-traded bonds and non-Indian-traded derivative instruments.
U.S. airlines forecast strong 2023 travel, costs may dampen outlook
(Reuters) -U.S. airlines expect strong travel demand that drove record fourth-quarter revenues to continue into 2023, but economic uncertainty and burgeoning labor and operations costs could cloud their rosy outlooks. On Thursday, American Airlines, JetBlue Airways Corp and Alaska Air Group forecast better-than-expected full-year earnings. Airlines are cashing in as consumers snap up tickets following a pandemic-induced slump, making the industry a rare bright spot as markets grasp with runaway inflation, rising interest rates and economic uncertainty.