waltz disney Co. SAY 2.16% laid off more than 300 employees in Beijing who worked on its streaming services, according to people familiar with the situation, as part of an effort to cut costs and restructure the entertainment company. The layoffs in China come as Disney this week began making the first wave of job … Read more
Discussions, though preliminary, have focused on how the industry could arrange an investment that would increase the bank’s capital, according to people familiar with the matter. Among the options on the table, people said, is investment in the First Republic by the banks themselves. Eleven major banks banded together last week to deposit $30 billion … Read more
Swiss authorities attempted to finalize the deal on Sunday before Asian markets opened for the week. They walked a fine line, having to get the boards of both banks to agree to the deal and avoid the alternative, a regulator-led liquidation of Credit Suisse, which could prove longer and more painful for the bank. financial … Read more
A tumultuous week in U.S. financial markets ended on an uncertain note on Friday after a massive injection of $30 billion in deposits from major banks into First Republic Bank failed to calm investors. Last week, the sudden collapse of three US banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began … Read more
WASHINGTON — The Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, people familiar with the matter say, after the California lender was taken over by regulators last week amid a historic race on its deposits. The separate investigations are in their preliminary stages and cannot lead to … Read more
For its fiscal year that just started, Salesforce predicted an increase in profit margins and revenue that would exceed analysts’ forecasts. “Improving profitability is our top priority,” co-founder and chief executive Marc Benioff said in a call with analysts. Mr. Benioff said the company was downsizing, reducing property costs and increasing its expense control. He … Read more
Last updated: February 28, 2023 at 9:47 p.m. ET First published: February 28, 2023 at 9:40 p.m. ET As Salesforce Inc. cut jobs and looked for ways to cut costs, it also reportedly paid actor Matthew McConaughey more than $10 million a year to serve as a creative adviser and TV presenter. The Wall Street … Read more
