Paramount slashing thousands of jobs, writes down value of cable networks by $6B
Paramount Global on Thursday said it would write down the value of its cable-networks business by about $6 billion and cut 15% of its workforce, even as its streaming business reported its first quarterly profit. Paramount shares rose more than 5% in after-hours trading. The impairment reflects declining viewership for cable networks such as Nickelodeon, […]
Warren Buffett surprises by slashing Berkshire Hathaway's longtime Apple stake
OMAHA, Neb. (AP) — Billionaire Warren Buffett has pared back Berkshire Hathaway’s large holdings of Apple stock, a move that could send shivers down the stock market as a whole, not only because Buffett is highly respected but also because there has been little positive financial news recently. Just two years ago, Buffett called Apple […]
Mortgage rates drop to new low as Fed grows closer to slashing interest rates: Freddie Mac
Mortgage rates fell again this week to their lowest levels since February, according to Freddie Mac. (iStock) Mortgage rates fell again this week to their lowest since February on expectations that the Federal Reserve will cut rates by 25 basis points in September, according to Freddie Mac. According to Freddie Mac’s latest report, the average […]
EXCLUSIVE: GOP Rep Unveils Bill Slashing Federal Spending Programs In Response To Massive Foreign Aid Packages
Republican Florida Rep. Aaron Bean unveiled a bill Thursday that would take an axe to federal spending programs following a massive foreign aid supplemental that passed in April. The legislation, titled the Cutting Unobligated Tumultuous Spending (CUTS) Act, would slash over $100 billion in federal spending by rescinding unobligated COVID-19 relief and various climate initiatives. […]
Walmart slashing hundreds of corporate jobs, asks remote workers to relocate or quit
Walmart on Tuesday announced plans to cut hundreds of jobs at its headquarters and relocate the majority of its remote employees, based in the United States and Canada, to three offices. This is a shift in strategy after initially favoring virtual work during the pandemic. In a memo to U.S. campuses, Donna Morris, Walmart’s chief […]
Video: Suspect accused of slashing 11-year-old girl needs NYPD officers to protect him from angry mob
A suspect accused of slashing the head of an 11-year-old girl and punching a woman was chased by an angry mob in New York City. However, NYPD officers protected the suspect from a group of vigilante justice seekers. An 11-year-old girl was slashed near the East 116th Street subway station in East Harlem around 2:15 […]
Companies Are Slashing Away At Debt As Surging Inflation Casts Shadow Over Interest Rate Cuts
The Wall Street Journal reported Wednesday that recent reports of high inflation have dimmed prospects for central bank interest rate cuts, making borrowing more expensive and causing many Companies are reportedly considering reducing debt. Even companies with already strong credit prospects are deleveraging to improve their ratings from top agencies and reduce borrowing costs, which […]
Elon Musk reportedly indicates Tesla slashing jobs
Elon Musk has reportedly indicated that Tesla intends to cut more than 10% of its workforce. “Over the years, our company has grown rapidly with multiple factories around the world. This rapid growth has led to duplication of roles and duties in certain areas. “This is critical as we prepare for a phase of growth […]
Slashing on the LIRR
FOX 5 NY’s Arthur Chi’en talked to riders at Grand Central who took the same route. Subscribe to FOX 5 NY: … source
High-end outerwear company slashing corporate jobs
Check out what’s being clicked on FoxBusiness.com Canada Goose is cutting its white-collar workforce. The luxury outerwear maker said Tuesday that about 17% of its employees will lose their jobs due to layoffs. This equates to approximately 915 jobs. The layoffs coincided with a restructuring of Canada Goose’s management team. This includes giving additional responsibilities […]