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Intel to lay off nearly 17,500 workers, suspend dividend in turnaround push

Intel, which employed 116,500 people as of June 29, excluding some subsidiaries, said the majority of the job cuts would be completed by the end of 2024

China needs more than 'incremental' consumer measures for long-term growth

Trade tensions and local government debt risks leave Beijing few alternatives to revving up consumer stimulus

Apple pins hopes on AI for iPhone upgrades as China sales dwindle

Apple said revenue in its fiscal fourth quarter would grow at a level similar to the 4.9% increase it posted in the April-June period

New Boeing CEO Kelly Ortberg faces big overhaul, from factories to finances

His extensive to-do list includes mending relationships with airlines and employees, boosting output, repairing company finances and securing a labor deal to avoid a possible worker strike

Adani Enterprises Q1 results: Net profit rises 116% to Rs 1,455 cr

Consolidated net profit rose to Rs 1,455 crore for quarter ended June 30, from Rs 674 crore a year ago, the company, which is the flagship firm of the Adani Group, said in an exchange filing

Steelmaker ArcelorMittal's Q2 core earnings slide but ahead of expectations

Steel prices in Europe and the US are below the marginal cost of production and excess output from China has resulted in very low domestic steel spreads and aggressive exports

Shell beats forecasts with $6.3 bn Q2 profit, but shares down by 0.5%

The results were lifted by strong performances in the oil and gas production and retail marketing businesses and the profit was nearly 25 per cent higher than the same time a year ago

Toyota's profit increases 17% to $8.70 bn in Q1 but shares tumble

Toyota has been on a record profit run that has boosted its share price. But its outlook has been complicated by a tough market in China

Small Indian banks back online after ransomware attack, says NPCI

India has about 1,500 cooperative and rural regional banks, which largely serve customers in hinterland areas, one-fifth of which were affected by the attack

Amazon set to join Google, Microsoft's spending surge as AI race heats up

The e-commerce giant's capital investments - mostly for building cloud and generative AI infrastructure - is expected to have risen 43 per cent in the second quarter to $16.41 billion

Volkswagen doubles down on cost cuts to try to revive profit margins

The German group is further reducing production capacity, cutting costs and changing software spending following its investment in electric vehicle maker Rivian

After $4 bn GST notice to Infosys, other IT cos may also get under scanner

In serving its highest-ever tax demand on Infosys, the government accused India's second-largest tech services company of evading taxes and sought Rs 32,000 crore

Godrej Agrovet Q1 results: PAT up 28.3% at Rs 135 cr, total revenue falls

Godrej Agrovet's total revenue from operations fell 6.4 per cent to Rs 2,351 crore while total expenses fell nearly 8 per cent, led by a fall in the cost of materials consumed

Fox, Disney, Warner Bros's sports-streaming JV priced at $42.99 per month

The companies announced the service in February to woo younger viewers who are not tuned in to cable TV by bundling their broad portfolio of sports rights

Weekly unemployment claims rise to 11-month high of 249,000: US labour dept

Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 249,000 for the week ended July 27, the highest level since August last year

RBI's tighter liquidity norms credit positive for banks, says Moody's

The central bank released a set of preliminary guidelines last month, including suggesting that banks will be required to allocate an additional 5 per cent reduction in the stability of retail deposit

Bank of England cuts interest rates from 16-year high as inflation eases

Thursday's decision was in line with the forecast in a Reuters poll of economists but financial markets had only seen just over a 60 per cent chance of a cut

Thomson Reuters reports 6% rise in revenue, plans to deploy AI aggressively

The company now forecasts full year revenue to hit the high end of projections or a rise of about 7 per cent

Orient Electric Q1 results: Profit down 27% to Rs 14.34 cr on high expenses

Orient Electric, which also sells mixer-grinders and switchgears, said profit decreased to Rs 14.34 crore ($1.7 million) in the quarter, from Rs 19.69 crore a year earlier

Factories across Europe, Asia struggled in July as demand waned, shows PMIs

It was a broadbased downturn in the euro zone while a slump in China's manufacturing activity suppressed its Asian neighbours