Tag: ENT
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AMC Entertainment shares are jumping on report that Amazon is exploring a deal
March 28 (Reuters) – Shares of AMC Entertainment Holdings Inc (AMC.N) rose as much as 21% on Tuesday, following a report that e-commerce giant Amazon.com Inc (AMZN.O) was looking to buy the theater chain. Amazon founder Jeff Bezos has sent his investment advisers and top entertainment executives to investigate acquisition plans for AMC, entertainment industry […]
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House Republicans subpoena labor authorities in Starbucks union dispute
March 22 (Reuters) – The House Education and Labor Committee issued a subpoena to the National Labor Relations Board (NLRB) on Wednesday, alleging labor organization officials failed to conduct fair and impartial union elections at Starbucks Corp (SBUX.O) . In the letter accompanying the subpoena, Virginia Foxx, the committee’s top Republican, said an NLRB report […]
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GameStop’s surprise profit causes short squeeze, meme stocks soar
March 22 (Reuters) – Meme share GameStop Corp (GME.N) rose nearly 40% on Wednesday as the video game retailer’s first profitable quarter in two years squeezed bearish investors and sparked a rise in other stocks popular with retailers . AMC Entertainment Holdings Inc (AMC.N) gained 3.4%. AMC and GameStop were at the heart of a […]
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China’s answer to ChatGPT? Baidu shares tumble as Ernie Bot disappoints
Ernie’s launch comes as Google, Microsoft step up AI game Baidu shares tumble as CEO gives short video presentations Analysts say scripted event, pre-recorded videos disappointed Ernie can do math, write poems, generate images and video BEIJING/HONG KONG, March 16 (Reuters) – China’s Baidu on Thursday unveiled its long-awaited AI-powered chatbot known as Ernie Bot, […]
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Meta to cut 10,000 jobs in second round of layoffs
March 14 (Reuters) – Facebook parent company Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs, the first Big Tech company to announce a second round of mass layoffs as the industry braces for a deep economic downturn. Meta shares rose 6% on the news. The widely anticipated job cuts are part of […]
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Starbucks CEO Schultz may be ordered to testify at the U.S. Senate labor hearing
WASHINGTON, March 2 (Reuters) – U.S. Senator Bernie Sanders declined Thursday to backtrack on calls for Starbucks Corp. (SBUX.O) interim Chief Executive Officer Howard Schultz, who steps down this month, to testify at a hearing on compliance with labor law. Starbucks reiterated Thursday that it has no plans to send Schultz to a U.S. Senate […]
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Tesla vows to cut EV production costs in half, Musk keeps affordable car plan a secret
SAN FRANCISCO, March 1 (Reuters) – Tesla Inc (TSLA.O) will cut assembly costs in half in future generations of cars, engineers told investors Wednesday, but Chief Executive Elon Musk did not reveal when it will debut the long-awaited affordable electric car . Shares fell more than 5% in after-hours trading following the company’s investor day […]
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Twitter lays off at least 50 in ruthless cost-cutting, The Information reports
Feb. 26 (Reuters) – Elon Musk’s Twitter Inc laid off dozens of employees on Saturday in what is at least the eighth round of job cuts since Musk took over the social network in late October, the information reported. The job cuts affected multiple engineering teams, including those supporting ad technology, the main Twitter app […]
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Warren Buffett remains optimistic and preaches patience in an annual letter
Feb. 25 (Reuters) – Billionaire investor Warren Buffett indicated on Saturday that he has not yet lost his continued faith in the US economy and his company Berkshire Hathaway Inc (BRKa.N). In his annual letter to Berkshire shareholders, the 92-year-old Buffett urged investors to focus on the long-term big picture, rather than higher inflation and […]
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Meta heats up Big Tech’s AI arms race with a new language model
Feb 24 (Reuters) – Meta Platforms Inc (META.O) said on Friday it is releasing for researchers a new large language model, the core software of a new artificial intelligence system, sparking an AI arms race as Big Tech companies scramble to integrate the technology into their products and impress investors. The public battle to dominate […]