January 26, 2023 10:09 am
Lockheed Martin Corp (NYSE: LMT) and SAP SE (NYSE: SAP) said on Wednesday that they had expanded their strategic relationship to transform the mission-critical business systems that power Lockheed Martin’s OneLM Transformation Program. The latter represents the business and digital transformation effort that aims to improve Lockheed Martin’s speed, agility, insights and competitiveness. With this […]
Read moreJanuary 25, 2023 12:27 pm
Walmart Inc (NYSE: WMT) announced on Tuesday that it intended to increase average hourly pay for its store workers across the United States, starting in February. With the new wage hikes, the average hourly pay will become $17.50, compared with the current $17.00 per hour, and will reflect in March 2nd paychecks. According to a […]
Read moreJanuary 25, 2023 10:18 am
GAM said on Wednesday that it expected a net loss after tax of about CHF 309.9 million for the entire 2022 due to negative asset flows. The Swiss asset manager also said it expected an underlying pre-tax loss of nearly CHF 42.8 million. “2022 was a challenging year with our financial results seeing the impact […]
Read moreJanuary 24, 2023 11:54 am
Ford Motor Co (F) said on Monday that it expected to record a pre-tax remeasurement gain in its fourth-quarter results of nearly $50 million associated with the company’s pension and other postretirement employee benefits (OPEB) plans. That figure includes a $1.7 billion loss related to pension plans in the United States, a $450 million gain […]
Read moreJanuary 23, 2023 12:25 pm
Billionaire Elon Musk said in a tweet over the weekend that Twitter Inc had nearly 2,300 active employees. A CNBC report last Friday stated that Twitter’s full-time workforce had been brought down to 1,300 active, working employees, which included about 550 full-time engineers. Nearly 75 of that headcount are on leave including about 40 engineers, […]
Read moreJanuary 23, 2023 9:50 am
London-based Times newspaper reported over the weekend that the owners of UK supermarket chain Asda and petrol forecourts business EG Group were exploring a merger. Such a combination would result in a retail giant valued at GBP 11 billion to GBP 13 billion with over 581 supermarkets, 700 petrol forecourts and 100 convenience stores across […]
Read moreJanuary 20, 2023 11:45 am
Total 2022 compensation for JPMorgan Chase & Co’s Chief Executive Officer Jamie Dimon remained unchanged at $34.5 million, the Wall Street bank said in a regulatory filing. The CEO’s compensation included an annual base salary of $1.5 million as well as a performance-based incentive pay of $33 million. “There was no special award granted to […]
Read moreJanuary 19, 2023 9:36 am
The largest miner by market value globally, BHP Group Ltd, reported a solid increase in coal and copper output during its fiscal second quarter and a more modest increase in iron ore production. BHP’s production of metallurgical coal surged 10% year-on-year to 7.0 million metric tons during the three months through December, while copper production […]
Read moreJanuary 18, 2023 11:52 am
Stellantis, the third-largest automotive group by sales globally, on Wednesday announced a deal with Finland’s Terrafame, under which the latter will supply the car maker with nickel sulphate over a period of 5 years, starting from 2025. “This agreement is part of the key raw material sourcing to fit with our electrified vehicle battery pack […]
Read moreJanuary 18, 2023 9:20 am
A number of media reports stated on Tuesday Microsoft Corp (MSFT) intended to cut thousands of job positions, with roles in divisions such as human resources and engineering expected to be affected. Such a move by Microsoft could suggest the environment in the technology sector is not improving and more jobs could be cut. According […]
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