Category: Top Story

Starbucks (NASDAQ:SBUX) announced Thursday a major restructuring initiative that will eliminate roughly 900 positions across its operations. As part of the plan, the coffee chain will close select coffeehouses and reduce its non-retail workforce and operating expenses, aiming to streamline operations and improve efficiency. The company estimates that restructuring costs will total approximately $1 billion,…

Accenture (NYSE:ACN) reported quarterly results that beat analyst expectations and issued guidance well above Wall Street projections. Shares of the tech consultancy showed volatility in premarket trading, moving between gains and losses following the earnings release. For the fourth quarter, Accenture posted earnings of $3.03 per share, exceeding the consensus estimate of $2.97. Revenue reached…

Google (NASDAQ:GOOG) is set to acquire warrants to purchase roughly 24 million shares of Cipher Mining (NASDAQ:CIFR) as part of a 10-year AI hosting collaboration involving Cipher and Fluidstack. The warrants would give Google an estimated 5.4% pro forma ownership of Cipher Mining. Additionally, Google will provide support for $1.4 billion of Fluidstack’s lease obligations,…

The story around Nvidia (NASDAQ:NVDA) is becoming “messy” as the AI-focused chipmaker pours substantial capital into smaller firms that also happen to be its clients, according to analysts at Yardeni Research. In a research note, Yardeni’s team highlighted that, while Nvidia has the financial resources to support these ventures, the company’s success is increasingly “closely…

Shares of Intel (NASDAQ:INTC) rose in early trading on Thursday, building on gains from the previous session after media reports suggested the chipmaker had approached Apple (NASDAQ:AAPL) about a possible investment. Intel shares surged 6.4% to close at $31.22 on Wednesday following the Bloomberg News report. According to anonymous sources cited by Bloomberg, the two…

New data from the U.S. Labor Department on Thursday revealed a surprising decline in first-time claims for unemployment benefits for the week ending September 20th. Initial jobless claims dropped to 218,000, down 14,000 from the previous week’s revised figure of 232,000. Analysts had forecast a slight increase to 235,000 from the 231,000 initially reported for…

The U.S. dollar remained relatively stable Thursday as investors exercised caution ahead of key economic data, amid uncertainty over how much further the Federal Reserve might ease monetary policy. At 03:00 ET (08:00 GMT), the Dollar Index, tracking the greenback against six major currencies, inched up to 97.552 after climbing 0.6% overnight to a two-week…

Gold prices held their ground in Asian trading on Thursday after falling from record peaks, pressured by a stronger dollar and cautious signals from the Federal Reserve. Spot gold last rose 0.2% to $3,713.42 per ounce at 03:01 ET (07:01 GMT), following Tuesday’s all-time high of $3,790.82/oz. December U.S. Gold Futures edged up 0.1% to…