Business News
Barclays Plc announced a reduction of 5,000 jobs, representing approximately 5 percent of its total workforce, as part of a “technology-enabled” initiative aimed at cost reduction while integrating artificial intelligence throughout the organization. The bank disclosed its third-quarter earnings on
Elon Musk has suggested a potential merger between Tesla and SpaceX, indicating that the two firms have established special committees to evaluate the proposal. During the earnings call webcast on Wednesday, the chief executive officer of Tesla and SpaceX stated
The Walt Disney Company has reached an agreement to extend job offers to the majority of the workforce from the chatbot startup Character.AI, shortly following the company’s bankruptcy filing, as indicated in a submission to the US Bankruptcy Court for
Anthropic reported a 45 percent increase in revenue in the third quarter, reaching $16.8 billion, up from $11.5 billion in the previous quarter. This growth comes as the artificial intelligence company aims to bolster investor confidence in anticipation of a
Wall Street’s investment banking and trading stalwarts reported mixed third-quarter earnings as both equity and bond markets faced turbulence due to the ongoing Iran war, escalating inflation, and concerns regarding substantial expenditures in the AI buildout. The results from JPMorgan,
Amazon is reportedly engaged in discussions to acquire AI startup Decart, with the transaction estimated to be valued at approximately $7 billion, according to a report. Decart’s Lucy model, supported by Nvidia, is capable of editing live video in real
Mobile payments firm Airtel Money is poised to commence trading on the London Stock Exchange later on Friday, a listing that could signify the largest initial public offering for the exchange in five years. Existing shareholders, comprising the Qatar Investment
Jaguar unveiled the inaugural model of its new fully electric series, a grand tourer priced at £130,000 ($172,000), designed to revitalise the esteemed British marque. Orders for the Type 01 are set to commence in early 2027, following a hiatus
Paramount Skydance finalised its acquisition of Warner Bros Discovery on Tuesday, effectively consolidating Warner Bros, HBO, and CNN with Paramount Pictures, CBS, and Paramount+. The deal values WBD at approximately $81 billion in equity terms and around $110 billion when
HSBC is set to implement significant job reductions within its UK wealth management division, which will involve a notable decrease in the number of financial advisers and specialised personnel. This move is part of a wider strategy to incorporate artificial
