Musk Denies Firing Twitter Employees to Avoid Compensation
The new Twitter owner, Elon Musk, denies a New York Times report that he may lay off personnel before November 1 to avoid stock grants.
Written by: Skylar Williams
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Electrolux Faces A Q3 Loss And Anticipates Further Declines
On Friday, Europe’s largest home appliance producer, Electrolux, posted a third-quarter loss as expenses soared, particularly in North America, and demand declined. Inflation and high borrowing rates anticipated additional reductions.
Written by: Haiden Holmes
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Volkswagen Expects Supply Bottlenecks And Stagnant Earnings
Volkswagen said supply constraints were the new normal as Porsche’s IPO, a self-driving firm write-off, and parts shortages kept its third-quarter profitability below pre-crisis levels.
Written by: Haiden Holmes
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Despite Parts Shortages, Toyota’s Quarterly Output Rose 30%
Toyota Motor Corp. reported a 30% increase in global production for the September quarter, although semiconductor and other part shortages will continue to slow output.
Written by: Charlie Brooks
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Intel Valued Mobileye at $17 billion With Its $21 IPO Price
In a news release, Intel (NASDAQ:INTC) sold 41 million Mobileye shares for $861 million. The chipmaker sold shares at $21, a dollar above the IPO filing’s $18 to $20 range.
Written by: Charlie Brooks
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