International Business Machines Corp (IBM) has reportedly issued a sweeping ultimatum aimed at putting the practice of remote working to a definitive end in a memo sent out to its U.S. managers that says they must either start working from the office or leave their jobsIn a memo seen by Bloomberg, IBM told its U.S. managers that from August this year they must start working from the office, or client sites, at least three days a week – even if they are currently allowed to work from home.The memo says anyon ...

Shares of United Parcel Service Inc. UPS, -0.80% sank 5.2% toward a two-month low in premarket trading Tuesday, after the package delivery giant reported fourth-quarter that fell below expectations, again, and provided a downbeat 2024 outlook, amid weakness in both the U.S. domestic and international businesses. Net income dropped to $1.61 billion, or $1.87 a share, from $3.45 billion, or $3.96 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.47 topped the Fa ...

BYD shares slumped 4% in Hong Kong on Tuesday, as the electric car maker said its earnings for the year would surge but lag analyst estimates. BYD 1211, -4.41% said its earnings would rise between 74% and 86% above last year’s 16.62 billion renminbi. But the top end of that guidance range, 31 billion renminbi ($4.4 billion), lagged the Visible Alpha-compiled analyst estimate of 31.23 billion renminbi. BYD did not provide any revenue figures. BYD, in which Warren Buffett’s Berkshire Hathaway BRK.B, -0.58% ...

SEATTLE — Facing severe criticism after a door plug blew out on a 737 Max over Oregon this month, Boeing said Monday that it is withdrawing a request for a safety exemption needed to certify a new model of the plane.The company asked federal regulators late last year to allow it to begin delivering its 737 Max 7 airliner to customers even though it does not meet a safety standard designed to prevent part of the engine housing from overheating and breaking off during flight.But after a door panel blew out on ...

By Kosaku Narioka Toyota Motor's group worldwide sales set a new record high in 2023, recovering from a slump caused by the Covid-19 pandemic and a chip shortage in previous years. The Japanese carmaker said Tuesday that global sales, including those of subsidiaries Daihatsu Motor and Hino Motors, rose 7.2% to 11.2 million vehicles last year, exceeding the previous high of 10.7 million units in 2019. Toyota said that worldwide production climbed 8.6% to a record 11.5 million vehicles last year. In December ...

DETROIT — Toyota 7203, +3.15% TM, +1.82% and General Motors GM, +0.60% are telling the owners of about 61,000 older Corolla, Matrix, RAV4 and Pontiac Vibe models to stop driving them because their Takata air bag inflators are at risk of exploding and hurling shrapnel. The urgent warning Monday covers certain Corolla compact cars and Matrix hatchbacks from the 2003 and 2004 model years, as well as the RAV4 small SUV from 2004 and 2005. Also covered are about 11,000 Pontiac Vibes from 2003 and 2004, which ...

The future of iRobot Corp. IRBT, -8.77% is likely to be rocky as it faces tougher competition in the home-robotics market on its own. The Roomba maker said it will now focus on its own restructuring and becoming profitable again, after waiting almost 16 months for regulatory approvals for a proposed merger with Amazon.com Inc. AMZN, +1.34% that ultimately did not all come. The news had been expected by some investors, especially after the European Commission in November wanted certain assurances the deal wo ...

In 2023, the AI winners and losers were largely defined by how they found ways to make money from the technology. Nvidia NVDA, +2.35% emerged as the clear leader, its products powering the growth of large language models. Other winners included Microsoft MSFT, +1.43%, Alphabet GOOGL, +0.87% GOOG, +0.68%, and Amazon.com AMZN, +1.34%, which capitalized on the cloud-based AI focus.This year, the money will be made at companies that can capitalize on AI implementation. Market analysts expect companies to increa ...

General Motors Co. is scheduled to report quarterly earnings before the bell Tuesday amid concerns about its EV business and a slow start to the year for the auto industry. GM’s fourth-quarter earnings and guidance “will be solid but unlikely to be a significant catalyst for the stock,” Chris McNally at Evercore ISI said in a note Monday. Tailwinds include $1.5 billion to $1.7 billion in cost savings and lower expenses with Cruise, GM’s autonomous-driving division, but those are likely to be countered by in ...

There’s a fair bit of love for software stocks on Wall Street, after the category has trounced the S&P 500 since the start of last year. But while analysts remain generally positive on the sector, unsurprisingly, they have their favorites: Think Microsoft Corp. MSFT, +1.43%, Salesforce Inc. CRM, +2.85% and ServiceNow Inc. NOW, +2.37%. Evercore ISI analyst Kirk Materne recently wondered if “going against the grain” could help investors, given “largely bullish” software-sector sentiment. Don’t miss: Microsoft ...