Volkswagen Board Approves Doubling Job Cuts, Restructuring in Surprise Move
The automaker will cut about 50,000 more jobs, but faces an unclear future for its European auto plants.
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Oura's IPO Reveals High Growth for Smart-Ring Maker
The fitness tracker recently turned profitable and posted 74% revenue growth in the nine months ended in June.
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Lululemon Cuts Outlook Again After Another Tough Quarter for Sales
The activewear retailer said it now expects annual sales to be $10.35 billion to $10.5 billion, down from its previous guidance of $11 billion to $11.15 billion.
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Drugmakers Halt Autoimmune Trials After Deaths, Life-Threatening Side Effects
Trial freezes by Novartis and Bristol Myers have triggered a race to understand why a promising autoimmune treatment turned risky.
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Adobe Names Anil Chakravarthy as Chief Executive Amid AI Transformation
Anil Chakravarthy has led Adobe's customer experience arm for the past six years and has led the development of several of the company's AI products.
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Zscaler Loss Narrows As Revenue Soars, Boosted by AI
The company reported a loss of $3.37 million and said it would restructure and cut 3% of its workforce as it reallocates resources to support its AI and growth initiatives.
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Nvidia Agrees to Buy AI Platform Hugging Face for $13 Billion
The deal ramps up Nvidia's efforts to promote open-weight AI models that pose a competitive threat to OpenAI and Anthropic.
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OpenAI, Anthropic, Grok Operational After All Experienced Outages At the Same Time
Users of several different AI models were all experiencing outages at the same time on Thursday.
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Tyson Foods Cuts Revenue Guidance, Citing Cattle Pressure
The company said that it expects revenue in fiscal 2026 to rise by 1.5% to 2%, down from a previous range of 2.5% to 3.5%.
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Canada Picks Alstom to Build Passenger Railcars in Multibilllion-Dollar Deal
Canadian Prime Minister Mark Carney says the government would spend about 4.7 billion Canadian dollars (US$3.4 billion) to acquire new-generation passenger cars for state-owned Via Rail.
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Campbell's Cuts 13% of Workforce in Effort to Turn Around Struggling Operations
The cuts came as the soup-and-snack maker swung to a loss in the latest quarter, as higher costs pressured profitability and soft demand hurt sales.
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Victoria's Secret Lifts Outlook Despite Cooling Sales Growth
The bra retailer said it now expects sales of $7.1 billion to $7.18 billion for the year, pointing to progress against its turnaround plan, even as second-quarter sales growth cooled.
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China's Moonshot AI Confidentially Filed Hong Kong IPO
China's Moonshot AI has confidentially submitted an application for an initial public offering to Hong Kong's stock exchange, people familiar with the matter said.