A former Fox News employee has filed a lawsuit against the outlet, alleging that she was subjected to sexual and psychological abuse for decades at the hands of former network head Roger Ailes, while claiming inaction from the corporate leadership. Laura Luhn, 62, started working with Fox in 1996. The lawsuit (pdf) was filed on…
Former Fox News Employee Sues Network Over Sexual Abuse Allegations
January 26, 2023
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Chipotle to Hire 15,000 Workers Across North America
January 26, 2023
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Business & MarketsChipotleCompanieseconomyhiringRegional & State NewsSouthern CaliforniaState NewsUSUS News
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Burrito chain Chipotle Mexican Grill Inc. said on Thursday it was looking to hire 15,000 new full and part-time restaurant workers across North America for its busiest time of the year—March to May. The California-based chain said its staffing remains above pre-pandemic levels, with a global headcount of more than 100,000 employees, and its average…
Dow to Slash 2,000 Jobs as Part of $1 Billion Cost-Savings Plan
Dow Inc., a Michigan-based material science company, announced today that approximately 2,000 jobs will be cut globally as part of the corporation’s goal to save $1 billion this year. In a press release, Dow outlined a series of targeted actions to reduce spending through structural improvements and operating expenses, which the company expects to realize…
Transportation Department Investigating Southwest for Mass Travel Disruptions, ‘Unrealistic Scheduling’ of Flights
January 26, 2023
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Business & MarketsCompaniesSouthwest Airlinessouthwest deceptive flight bookingsouthwest travel disruptionUSUS NewsUS Transportation Department
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Southwest Airlines is facing an investigation into flight cancellations that took place in late December which affected thousands of passengers and caused an estimated millions of dollars’ worth of losses to the company, with the U.S. Department of Transportation (DOT) looking into potential “unrealistic scheduling” of flights. In the week ended Dec. 29, Southwest Airlines…
Wall Street Opens Higher on Soft Landing Hopes, Tesla Boost
Wall Street’s main indexes opened higher on Thursday after data showing a resilient labor market and better-than-expected economic growth last quarter helped ease worries of a deep recession, while Tesla’s bullish outlook added to the cheer. The Dow Jones Industrial Average rose 27.82 points, or 0.08 percent, at the open to 33,771.66. The S&P 500…
IBM to Cut 3,900 Jobs Amid Tech Layoff Trend
Technology firm IBM plans on reducing its headcount by 3,900 jobs, the company announced Wednesday, while delivering better-than-expected fourth-quarter revenue results and joining a host of big tech companies that are also laying off employees. The layoffs account for roughly 1.5 percent of IBM’s total global workforce. The latest round of job cuts will focus…
US Certifies First Small Modular Nuclear Reactor Design for Use
January 26, 2023
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Business & MarketsCompanieseconomyenergygreen energyInvestmentnuclear reactorPolicies & ImpactsSMRUS
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The U.S. Nuclear Regulatory Commission (NRC) has certified the design for the first American-designed small modular nuclear reactor (SMR). The NRC issued its final ruling in the Federal Register on Jan. 19 to certify the emissions-free small modular reactor by the Oregon-based NuScale Power, which will take effect on Feb. 21. The final determination prevents the SMR from…
SAP to Cut Up to 3,000 Jobs Worldwide, Mulls Qualtrics Sale
January 26, 2023
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Business & MarketsCompaniescutseconomyEuropeGermanyInternationaljobsMarketsMedia & Big TechrecessionSAPWorld
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BERLIN—SAP said Thursday that it is cutting up to 3,000 jobs worldwide, or about 2.5 percent of its workforce, after a sharp drop in profits at Europe’s biggest software company. It comes amid a broader wave of job cuts in the technology industry, including mass layoffs at Google, Amazon, Microsoft, and other tech giants in…
Lexus Chief to Take Over Toyota as Founder’s Grandson Steps Down
TOKYO—Toyota’s chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand. The 53-year-old chief branding officer and president of Toyota Motor Corp.’s Lexus brand, Koji Sato, will take over from April 1 when Akio Toyoda becomes chairman,…
Hopes of Slowdown in Rate Hikes Bolster Shares Ahead of US GDP
January 26, 2023
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Business & MarketsCompanieseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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LONDON—Stocks firmed on Thursday as investors bet that central banks meeting next week will signal a slowdown or even a pause in interest rate hikes for later in the year to make recession less likely and ease pressure on corporate earnings. Oil prices were steady after U.S. crude stocks rose less than expected, while gold…
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