General Motors is laying off roughly half of the employees who remain at its discontinued Cruise robotaxi business. The plans come two months after GM said it would no longer fund Cruise after spending more than $10 billion since acquiring the self-driving car business in 2016. “Today, Cruise shared the difficult decision to part…
Disney posted fiscal first-quarter earnings Wednesday that beat on the top and bottom lines, but revealed the beginnings of expected streaming subscriber losses at Disney+. The company’s streaming business reported another quarter of profitability despite a 1% decline in subscribers for Disney+, the company’s flagship service. While domestic subscriptions for the…
The U.S. Postal Service has agreed to resume accepting shipments from China, less than 12 hours after announcing it would stop doing so. ‘Effective February 5, 2025, the Postal Service will continue accepting all international inbound mail and packages from China and Hong Kong Posts,’ it said in an updated…
Mattel could soon raise the prices of toys such as Barbie and Hot Wheels in response to new tariffs imposed by President Donald Trump, executives said Tuesday. The toy giant, which manufactures about 40% of its toys in China and less than 10% in Mexico, told analysts it will look to move around its supply…
Boeing has lost more than $2 billion and counting on its Starliner spacecraft after a rough year in which the capsule’s first astronaut flight turned into a headache for NASA. The Starliner program reported charges of $523 million for 2024 — its largest single-year loss to date — Boeing reported in a…
Disney posted fiscal first-quarter earnings Wednesday that beat on the top and bottom lines, but revealed the beginnings of expected streaming subscriber losses at Disney+. The company’s streaming business reported another quarter of profitability despite a 1% decline in subscribers for Disney+, the company’s flagship service. While domestic subscriptions for the…
In the US, just 19% of all venture capital (VC) investment partners — the people who write the cheques investing in entrepreneurs — are women; in Europe, a 2023 report found that number to be 16%. That has a knock-on effect: women are more likely than men to invest in…
South African President Cyril Ramaphosa spoke to Elon Musk “on issues of misinformation and distortions about South Africa,” the presidency announced on Tuesday. “In the process, the President reiterated South Africa’s constitutionally embedded values of the respect for the rule of law, justice, fairness and equality,” it said. The presidency…
A rebel group that claimed to have captured the city of Goma in the eastern Democratic Republic of Congo last week has called for an immediate humanitarian ceasefire, after fighting with the Congolese military has left hundreds of people dead. In a statement on Monday, the rebel coalition, Alliance Fleuve…
US President Donald Trump has said he wants access to Ukraine’s mineral deposits in exchange for future military aid that Kyiv needs as it continues to defend itself against Russia’s aggression. While the comment highlighted Trump’s transactional approach to the war in Ukraine, it was not entirely unexpected. The US…