Uber Technologies is cutting about 3,300 jobs as Chief Executive Dara Khosrowshahi moves to streamline the company’s organization, reduce costs and speed up decision-making at a time when the ride-hailing giant is preparing for a potentially disruptive shift toward autonomous vehicles. The cuts, equivalent to roughly 10% of Uber’s workforce, sent shares (UBER) about 2%
Snowflake stock has remained in a narrow range in the past few weeks, but this may change later today, September 2nd, when the company publishes its financial results. SNOW was trading at $319.80, down modestly from last month’s high of $341. Snowflake to publish earnings as growth continues Snowflake, one of top technology companies that
US private employers added jobs at a slower-than-expected pace in August, with hiring increasingly concentrated in healthcare and a handful of other industries, suggesting the labor market is losing momentum as the Federal Reserve weighs its next policy moves. Payrolls processor ADP said Wednesday that private-sector employment increased by 38,000 last month, down from an
US private employers added jobs at a slower-than-expected pace in August, with hiring increasingly concentrated in healthcare and a handful of other industries, suggesting the labor market is losing momentum as the Federal Reserve weighs its next policy moves. Payrolls processor ADP said Wednesday that private-sector employment increased by 38,000 last month, down from an
US stocks opened mixed on Wednesday as investors weighed renewed US-Iran tensions, rising global bond yields and continued strength in the artificial intelligence trade. The Dow Jones and S&P 500 indices edged higher, while the Nasdaq Composite slipped as investors assessed the impact of elevated oil prices on inflation and the Federal Reserve’s policy outlook.
MongoDB stock MDB fell sharply on Wednesday after the database software company reported second-quarter results that beat expectations but failed to deliver the faster Atlas growth investors had anticipated. Shares were down 13% in trading at $375.72 after closing Tuesday down 4% ahead of the earnings release. The selloff came despite 30% year-over-year revenue growth,
PI price has risen 2.6% over the past 24 hours to roughly $0.0934 as traders position ahead of Pi Network’s expected Protocol 27 upgrade on Sept. 15. CoinGecko puts PI at $0.09337 at the time of writing, with the token also up 4% over the past seven days, 8.4% in two weeks and 13.7% over
SK Hynix stock rebounded on Tuesday as South Korean chip stocks recovered from early losses, but a shift in the next generation of high-bandwidth memory is creating a new question for investors. The stock rose about 1.9% to 1.706 million won by 10:30 a.m. in Seoul, after falling roughly 9% over the past month. Foreign
Asian stocks came under pressure on Tuesday as another surge in global bond yields collided with higher oil prices, leaving Japan’s Nikkei 225 and South Korea’s KOSPI navigating a difficult mix of inflation and interest-rate risks. The Nikkei fell about 1% to 65,647 in morning trading as semiconductor shares retreated, while the KOSPI recovered sharply
Gold remained under pressure on Tuesday, hovering near its weakest level in almost two weeks as traders shifted their attention from Jackson Hole to a packed US labour-market calendar that could decide whether the Federal Reserve raises interest rates in September. Spot gold traded around $4,450 an ounce in Asian hours after touching its lowest