Business

Exclusive: Amazon’s AWS cloud computing unit cuts at least hundreds of jobs, sources say  Reuters Amazon cuts some jobs in cloud computing unit as layoffs continue  CNBC Exclusive-Amazon’s AWS cloud computing unit cuts jobs  Yahoo Finance Amazon workers are piecing together cloud division layoffs in internal messages  Business Insider Amazon Cuts Jobs in Cloud Services Arm Amid Spiraling AI Costs  Bloomberg Source link

Some Power Stick deodorants manufactured by A.P. Deauville are under recall for manufacturing defects, according to the Food and Drug Administration. The recall impacts more than 67,000 cases of roll-on deodorants that were sold nationally, a notice posted by the agency shows. The issue is related to deviations with “current good manufacturing practices,” a set of guidelines for for pharmaceutical manufacturing, …

Abbott Earnings Beat Forecasts. Why the Stock Is Having Its Worst Day Since 2021.  Barron’s Abbott’s Diversified Healthcare Leadership Fuels Q2 Results  Abbott Abbott Narrows Its Outlook as COVID-19 Testing Demand Wanes. Its Stock Is Falling.  Yahoo Finance Abbott stock falls as Q3 outlook misses consensus (ABT:NYSE)  Seeking Alpha Health Titan Sheds 6% On A Rare Guidance Miss  Investor’s Business Daily Source link

WASHINGTON (AP) — Consumers picked up their spending in June after an earlier pullback, despite anxiety over tariffs and the state of the U.S. economy. Retail sales rose a better-than-expected 0.6% in June, the Commerce Department said Thursday, after two consecutive months of spending declines, a 0.1% pullback in April and a 0.9% slowdown in May. Retail was buoyed earlier …

Netflix is due to report second-quarter earnings after the closing bell Thursday. The streaming service is no longer offering investors quarterly subscriber updates, but Wall Street will be keen to hear how recent price hikes and the platform’s growing advertising tier are faring — especially as businesses across all sectors grapple with consumers tightening their purse strings. Here’s what Wall …

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‘Crypto Week’ Is Back on Track After House G.O.P. Quells Conservative Revolt  The New York Times Crypto regulation bills move forward after record-setting House vote  CNBC Why are lawmakers in Washington talking about stablecoin this week?  WBUR Capitol agenda: Brutal day ahead for Mike Johnson  Politico GENIUS Act back on track in House after massive delay  Axios Source link

Mark Zuckerberg has agreed to settle a multibillion dollar lawsuit with a group of shareholders over how top executives at Meta handled repeated privacy violations by Facebook. The shareholders were seeking $8bn (£6bn) in damages. It is unclear how much they agreed to settle for. The settlement was announced on Thursday by a lawyer for the shareholders, just before the …

Lucid Takes On Tesla’s Robo-Taxis. Stock Jumps 50% on Self-Driving Partnership With Uber, Nuro.  Barron’s Uber inks six-year robotaxi deal with Lucid, invests $300 million in EV company  CNBC The Battle of the Robotaxis Is Beginning  Bloomberg Lucid, Nuro, and Uber Partner on Next-Generation Autonomous Robotaxi Program  Lucid Motors Uber to buy at least 20,000 luxury robotaxis from Lucid  Axios Source link

Summers Warns of ‘Massive Inflation Psychology’ From Trump Rates  Bloomberg Trump Wants Lower Rates. Firing Powell Could Push Them Higher.  The New York Times Why Trump’s push for a 1% Fed policy rate could spell trouble for US economy  Reuters How an inflation uptick and Trump’s pressure complicate the Fed’s interest rate decision  PBS Stocks sell off as investors see Trump’s inflation ‘pipeline’ forcing …