AP Business Writer (AP) — In long-awaited cuts just months after completing its $8 billion merger with Skydance, Paramount has begun layoffs set to impact about 2,000 employees. Paramount initiated roughly 1,000 of those layoffs company-wide on Wednesday, according to a source familiar with the matter, who spoke on the condition of anonymity because they…… MORE
Starbucks Sales Improve but Store Closures and Layoffs Take a Bite Out of Profits
Starbucks reported better-than-expected revenue in its fiscal fourth quarter as its U.S. sales improved. The Seattle-based company said its net revenue rose 5% to $9.6 billion in the July-September period. That was better than Wall Street was expecting, according to analysts polled by FactSet. Starbucks’ global same-store sales rose 1% compared to the same period…… MORE
AI Chipmaker Nvidia is the First $5 Trillion Company
Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier. The ravenous appetite for Nvidia’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023. On Wednesday the shares closed at $207.04 with…… MORE
Google’s Corporate Parent Posts First-Ever Quarter With $100 Billion in Revenue in Latest Show of Its Power
SAN FRANCISCO (AP) — Google’s corporate parent on Wednesday announced its first-ever quarter with more than $100 billion in revenue. The milestone illustrates the unwavering power of its internet empire amid legal and competitive threats. The news of Alphabet Inc.’s faster earnings growth comes on the heels of a court ruling in the U.S. Justice…… MORE
Meta Shares Slide After Company Projects Higher Expenses for 2026
Meta’s stock slid in after-hours trading Wednesday after the tech giant posted strong third-quarter results but warned that its expenses will be significantly higher in 2026 than this year. Like is rivals, Meta Platforms Inc. has been on an artificial intelligence spending spree and said its costs will grow much faster next year, driven by…… MORE