ROUNDUP: Intel cuts 15 percent of jobs
SANTA CLARA – The struggling semiconductor pioneer Intel US4581401001 is making drastic job cuts in order to quickly reduce costs. Around 15,000 jobs – about 15 percent of the workforce – are to be eliminated, as Intel CEO Pat Gelsinger wrote to employees. In total, he wants to save more than ten billion dollars by next year.
ROUNDUP/Stingy customers and high AI investments: Amazon disappoints stock market
SEATTLE – The increased price sensitivity of its customers continues to cause problems for the world’s largest online retailer Amazon US0231351067. In addition, CEO Andy Jassy is rather cautious about developments in the coming months. Investors were upset because the company wants to continue to focus on investments in artificial intelligence and put profit increases on the back burner. In its important cloud division AWS, however, Amazon exceeded the average analyst estimates. But that was not enough to appease Wall Street: Amazon shares came under significant pressure in after-hours trading in the USA and fell by seven percent.
ROUNDUP: iPad helps Apple overcome iPhone decline
CUPERTINO – Apple US0378331005 made a little less money with its iPhones last quarter – but the iPad tablets were able to more than fill this gap. Group sales rose by five percent year-on-year to 85.5 billion dollars. The bottom line was a profit of around 21.5 billion dollars (19.9 billion euros), around eight percent more than a year ago.
ROUNDUP: Axa separates from asset management – half-year profit increased
PARIS – Axa FR0000120628 is separating from its asset management business. The insurer is holding exclusive talks about a billion-dollar agreement with the French bank BNP Paribas. In return, the latter would offer Axa services in this area in the future. The takeover would create one of the largest asset managers in Europe.
ROUNDUP: IAG fails with Air Europa takeover – share price increases
LONDON – Due to resistance from EU authorities, British Airways parent IAG is once again abandoning its planned takeover of Spanish airline Air Europa. “The board has come to the conclusion that it would not be in the best interests of shareholders to proceed with the transaction in the current regulatory environment,” Lufthansa rival DE0008232125 announced on Thursday after the stock market closed in London. The company also presented comparatively robust figures for the second quarter. IAG shares gained around six percent by midday on Friday.
Engie raises the bar for 2024 – share price rises sharply
PARIS – After a good first half of the year, the French energy group Engie FR0010208488 is more optimistic about the current year. Excluding the nuclear business, an operating profit of 8.2 to 9.2 billion euros is to be achieved, as the company announced in Paris on Friday. Previously, the board had targeted 7.5 to 8.5 billion. The adjusted net result is now expected to be 800 million higher at both ends and to be between 5.0 and 5.6 billion euros. In 2023, the operating profit excluding the nuclear business was 9.5 billion and the adjusted net result was 5.4 billion. Engie shares rose by around four percent in the morning.
Oil company Chevron earns less than expected – moves headquarters to Texas
SAN RAMON – The US oil and gas company Chevron US1667641005 made less profit in the second quarter than a year ago, thus missing analysts’ expectations. In addition, the company announced on Friday when presenting its figures that it would move its headquarters from San Ramon, California to Houston, Texas.
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Additional Reports
-Renk and Iveco agree to cooperate
-No veto on wind turbines – Neuötting rejects citizens’ initiative
-Berlin Transport Company abolishes cash payments on buses
-Rail traffic affected until next week after fire in Berlin
-Natural gas production: Greenpeace ends blockade in the North Sea
-Problems with video platform Youtube in Russia
-ROUNDUP: Instagram blocked in Turkey°
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