By Niket Nishant and Manya Saini (Reuters) -As PayPal embarks on an ambitious turnaround strategy to revitalize growth after a post-pandemic slump, Wall Street analysts expressed some caution over competition from Big Tech and beyond. The concerns highlight the challenges to the profit margins of the company, which for years enjoyed the first-mover advantage in […]
Trump atty general faulted for ‘chaotic’ response to George Floyd protests
By Sarah N. Lynch WASHINGTON (Reuters) – Former U.S. Attorney General William Barr created security risks when he deployed unprepared federal law enforcement officers to respond to racial justice protests near the White House in 2020, according to a Justice Department review released on Wednesday. The report focused on the role Barr played in responding […]
Walt Disney to cut jobs in television unit, Bloomberg News reports
(Reuters) – Walt Disney plans to eliminate some jobs in its TV unit to cut costs in an eroding business, Bloomberg News reported on Wednesday, citing people familiar with the matter. The Mouse House will cut about 140 positions, around 2% of staff at Disney Entertainment Television and about 13% of jobs at NatGeo, which […]
Boeing names Kelly Ortberg CEO to steer turnaround as cash burn rises
By Abhijith Ganapavaram and Allison Lampert (Reuters) -Boeing on Wednesday named aerospace industry veteran Kelly Ortberg as its CEO to turn around the struggling planemaker after a quarter where it lost more than $1 billion. Ortberg will start on Aug. 8 with the monumental task of rebuilding trust with regulators, the industry and the public […]