Within the company’s wide cost-cutting initiative, Amazon.com Inc. intends to lay off several hundred employees in the division responsible for developing the voice assistant Alexa. CNBC has reported the news, citing a letter sent to staff members by Amazon Vice President Daniel Rausch. "We are redirecting some of our activity to better align with business priorities, including to maximise...

Early in November, Lip-Bu Tan, Director of US semiconductor manufacturer Intel Corp., purchased 66,000 shares of the business for around $2.5 million, according to papers the company filed with the U.S. Securities and Exchange Commission (SEC). The cost per paper to be purchased varied from $37.77 to $37.95. According to Dow Jones Market Data, the stock closed trading the previous day at $40.61...

Renault Group and Nissan Motor Corp. announced in a joint statement that they have completed the process of forging a new-format partnership. As part of the alliance's reformation, the companies have agreed to equalize their holdings in each other's share capitals, giving 15% to each. Renault has lowered its investment in the Japanese company from 43% to 15% in recent months. This was...

According to JPMorgan's filings with the US Securities and Exchange Commission (SEC), Dimon is scheduled to start selling shares in 2024. "Dimon is selling JPMorgan stock for the first time in his career at the bank. His position in JPMorgan...

This year, major US banks, except for JPMorgan Chase & Co., have been steadily reducing staff. According to CNBC, which cited information from the banks' filings, Citigroup Inc., Bank of America Corp., Morgan Stanley, Wells Fargo & Co., and Goldman Sachs Group Inc. had collectively eliminated almost 20,000 jobs since the start of the year. U.S. financial firms actively boosted staffing...

U.S. Qualcomm Inc., one of the biggest producers of semiconductor components worldwide, plans to eliminate certain jobs in California in order to reduce 2.5% of its staff, reports MarketWatch. According to papers the manufacturer submitted to authorities, the business would lay off 1,064 workers in San Diego, which is home to Qualcomm's headquarters, and another 194 in Santa Clara on December 13....

According to regulatory documents, Gina Rinehart, the richest woman in Australia, increased her investment in lithium producer Liontown Resources Ltd. last month from 8% to 14.67%. Since September 12, Rinehart's business, Hancock Prospecting Pty., has purchased Liontown shares four times. Albemarle Corp., the largest producer of lithium in the world, has made an offer to purchase the business for...

Blue Origin's current CEO, Bob Smith, will step down and be succeeded as CEO by Dave Limp, the former vice president of Amazon.com Inc., according to CNBC. Smith is leaving Blue Origin with effect from December 4 of this year, but he will stay on until January 2 to facilitate a smooth transition of the new CEO. Limp, who has worked for Amazon for more than 13 years, revealed last month that he...

The largest fast-food restaurant company in the world, US McDonald's Corp., has announced the first price hike for franchise owners in the US and Canada in 30 years, according to Barron's. In some circumstances, the commission will increase from 4% to 5% for those starting brand-new eateries or acquiring existing eateries from the corporation. The hike won't affect current franchise owners. All...