Amazon-Backed Zoox Opens Robotaxi Plant
Bloomberg Technology
TV Shows
Zoox CEO Aicha Evans discusses the robotaxi firm's growth plans from its new manufacturing facility in the San Francisco Bay Area. Evans joins Caroline Hyde and Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
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Bloomberg
25 minutes ago
- Bloomberg
Equities Finish Choppy Session Lower
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Carol Massar and Tim Stenovec. (Source: Bloomberg)
Yahoo
38 minutes ago
- Yahoo
US stocks end mostly lower as investors weigh Trump's Iran plan, Fed rate cut possibility
U.S. stocks closed mostly lower as investors waited to see if President Donald Trump will attack Iran or hammer out a nuclear deal with the country. Trump will decide within two weeks on striking Iran, according to White House spokeswoman Karoline Leavitt. He's open to talks, but Iran has said it won't negotiate with the U.S. unless Israel stops attacking. The only way to end the imposed war is to 'unconditionally stop' the enemy's aggression, Iranian President Masoud Pezeshkian said Friday in a post on X. European leaders from UK, France and Germany are talking with Iranian leaders and reportedly will encourage discussions with the U.S. Still, senior U.S. officials have been preparing for the possibility of a strike on Iran, with some pointing to potential plans for a weekend strike, according to Bloomberg, citing people familiar with the matter. Stocks got an early boost from Federal Reserve Governor Christopher Waller who said in a CNBC interview he doesn't expect tariffs to boost inflation significantly so policymakers should be looking to lower interest rates as early as next month. Lower rates are seen as a boost for stocks because they encourage borrowing and investing by cutting the cost of financing. 'That would be my view, whether the committee would go along with it or not,' Waller said. His tone was different from Fed Chair Jerome Powell's comments earlier this week that the Fed was in no hurry to move rates. Instead, the central bank would wait to see effects of Trump's tariffs on inflation, the economy and jobs. The blue-chip Dow index closed up 0.08%, or 35.16 points, to 42,206.82; the broad S&P 500 dipped 0.22%, or 13.03 points, to 5,967.84, below the key psycholgical 6,000 level and its third straight loss; and the tech-heavy Nasdaq fell 0.51%, or 98.86 points, to 19,447.41. Oil prices dipped to $75 per barrel. The benchmark 10- year yield fell to 4.379%. In early afternoon trade, chip stocks fell after the Wall Street Journal said Jeffrey Kessler, head of the Commerce Department unit in charge of export controls, told top global semiconductor makers he wanted to revoke waivers they have used to access American technology in China. Currently, South Korea's Samsung Electronics, SK Hynix, and Taiwan Semiconductor Manufacturing enjoy blanket waivers that allow them to ship American chip-making equipment to their factories in China without applying for a separate license each time, the story said. Analysts at Jefferies, though, said in a note "it is not very material in our view. We are talking about three fabs which are not big buyers of equipment in any three companies will simply move any production they can't do in China to their fabs in Taiwan or Korea." Trump again criticized Federal Reserve Chairman Jerome Powell after the Federal Reserve rates remained unchanged this week. Trump labeled Powell as 'destructive' in a social media post and said Powell is costing the United States 'hundreds of billions of dollars' by leaving rates steady. Trump has been calling for rate cuts to boost the economy and drop the cost of U.S. debt financing. CarMax's results in the first three months of its fiscal year topped analysts' forecasts. Shares rose 6.59%. Darden Restaurants results in the last three months of its fiscal year beat analysts' expectations. The restaurant chain owner also issued a solid sales outlook for fiscal year 2026. Shares rose 1.36%. Accenture topped quarterly revenue estimates but its bookings fell for the second straight quarter. Shares dropped 6.86%. Microsoft plans to lay off several thousand employees in the next few weeks. Shares were marginally lower. Smith and Wesson's sales in the last three months of its fiscal year missed forecasts and profit declined from a year ago It said steel tariffs could drive up costs for the gunmaker. Shares slid 19.81%. Specialty building products company GMS is getting buyout interest from both QXO and Home Depot. QXO offered GMS $95.20 per share and the Wall Street Journal said Home Depot made a separate private offer. GMS shares jumped 23.63%. Grocery chain Kroger reported mixed quarterly results, but raised its annual same-stores sales outlook. Kroger said tariffs hadn't materially impacted the business and price increases were its last resort. Shares gained 9.84%. Hackers with possible links to Israel have drained more than $90 million from Nobitex, Iran's largest cryptocurrency exchange, according to blockchain analytics firms, media reports said. Bitcoin was last down 1.02% at $103,595.00. (This story was updated with new information.) Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: US stocks close mostly lower as investors mull Trump Iran move, Fed Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Microsoft to reportedly cut thousands of jobs, focusing on sales teams
Microsoft is reportedly planning to cut thousands of jobs, primarily targeting its sales workforce, according to Bloomberg. The layoffs are part of an effort to streamline operations amid significant investments in AI infrastructure. The company is spending heavily on servers and data centres to support AI development. The job cuts are expected to be announced in early July 2025, following the close of Microsoft's fiscal year. Sources familiar with the matter told Bloomberg that the reductions will mainly affect sales teams but may extend to other areas. The timing could still shift, and the company has not provided official comments, the report said. In April, Microsoft informed employees it would rely more on third-party firms to manage software sales to small and mid-size customers. This follows a previous round of layoffs in May 2025, which eliminated 6,000 positions, mostly in product and engineering roles, while largely preserving customer-facing teams such as sales and marketing. Earlier in June 2025, reports emerged that Microsoft is planning to reduce more than 300 jobs as part of its cost management strategy. In May 2025, Microsoft reduced its global workforce by about 3%, affecting around 6,000 employees across various levels and regions. The AI boom has significantly affected the tech labour market, with companies prioritising AI-focused roles and leveraging AI technology to enhance efficiency and reduce costs. As of June 2024, Microsoft employed approximately 228,000 full-time employees, with 55% based in the US. The company continues to implement organisational changes to position itself for success in a rapidly evolving market. Recently, reports of Microsoft Rus, the company's subsidiary in Russia, filing for bankruptcy also surfaced. This followed Russian President Vladimir Putin's statements against foreign service providers acting against Russian interests. "Microsoft to reportedly cut thousands of jobs, focusing on sales teams" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
