Howard Lutnick, the wealthy Wall Street executive whom President Trump has tapped to lead the Department of Commerce, detailed a complex network of financial holdings on Friday as he prepared to face scrutiny from lawmakers during a confirmation hearing next week. The financial disclosures showed that Mr. Lutnick, who has built a fortune in brokerages,…
Days after President Trump ordered federal agencies to investigate private sector entities for “illegal” diversity, equity and inclusion programs, Target has become the latest major company to retreat on D.E.I. Target announced on Friday that it will conclude its D.E.I. goals and will no longer participate in external diversity-focused surveys, including sharing data with the…
President Trump’s executive order designating Mexican cartels and other criminal organizations as foreign terrorists could force some American companies to forgo doing business in Mexico rather than risk U.S. sanctions, according to former government officials and analysts — an outcome that could have a major effect on both countries given their deep economic interdependence. The…
Chinese tech companies long looked to the United States as a key market and source of investment. Firms like ByteDance, the company behind TikTok, courted major American investment firms like General Atlantic and Susquehanna Capital. Chinese start-ups in Shanghai and Shenzhen saw an initial public offering on the Nasdaq or New York Stock Exchange as…
Perdue Farms and JBS, two of the country’s biggest meatpackers, will pay a combined $8 million after the Department of Labor found the companies relied for years on migrant children to work in their slaughterhouses. The deals, announced this week, are part of a flurry of child labor settlements that have come in the last…
In the United States, the wave of layoffs seen over the past two years is set to persist into 2025, affecting diverse industries including tech, media, finance, manufacturing, and retail. These workforce reductions come amidst a backdrop of economic challenges and rapid technological advancements, particularly in artificial intelligence (AI). According to a report by Business…
NEW DELHI: The Supreme Court on Friday stayed Goods and Services Tax (GST) proceedings against 49 online gaming companies over retrospective demand notices issued to them, a decision that pushed up the share price of some of the listed entities.A bench of Justices J B Pardiwala and R Mahadevan passed the interim order, while posting…
Salesforce CEO Marc Benioff emphasised that Agentforce, their primary AI offering, has become the company’s central focus. (AI image) Salesforce, the San Francisco-based software giant, has announced that it will not be hiring any more engineers this year, citing substantial productivity improvements from artificial intelligence. During the 20VC with Harry Stebbings podcast, Salesforce CEO Marc…
The Pentagon on Monday labeled Tencent, the Chinese social media and gaming giant, as a Chinese military business operating in the United States, the latest action in an escalating series of retaliatory moves between the world’s two superpowers. Tencent’s shares in the United States plunged by nearly 10 percent following the decision by the Defense…
NEW DELHI: Hit by inflation, higher input costs and pricing measures, FMCG companies are expected to see a contraction in their gross margin and a modest-to-flat operating profit in the Dec quarter. Several FMCG makers are likely to log a low single-digit rise in their revenue, returning to the cycle of value-driven growth.One of the…