A Dutch chipmaking giant sparked chaos after it accidentally published a disappointing financial outlook a day earlier than scheduled – slashing billions in market value across the semiconductor sector.Shares of ASML — which manufactures equipment used to make chips, including the processors used to power artificial intelligence — sank nearly 6% Wednesday. The stock had plunged 16% a day earlier – equating to a loss of more than $52 billion in market value.That was after ASML’s third-quarter results mysteri ...

Boeing will send layoff notices to thousands of its employees within the coming weeks and a senior US official has flown to Seattle to encourage negotiations between the planemaker and the union, according to a report.Boeing will next month send 60-day notices to thousands of workers, including employees in its commercial aviation division, a source familiar with the matter told Reuters. Those laid-off staffers will be booted out in mid-January, the source said.The aircraft-maker — which said Friday it plan ...

Goldman Sachs reported a 45% surge in quarterly profits on Tuesday, boosted by a rebound in dealmaking that beat analysts’ expectations.The Wall Street titan pointed to a 20% jump in investment banking fees year-on-year to $1.87 billion — driving third-quarter profits of $2.99 billion, or $8.40 per share, up from $2.06 billion, or $5.47 per share, a year earlier.Revenues rose 7% to $12.7 billion, the bank said.  4 Goldman Sachs CEO David Solomon said the uptick in investment banking activity indicated tha ...

Facebook and Instagram both experienced outages on Monday, according to the web site Downdetector.There were more than 8,000 incidents of people reporting issues with Facebook and over 4,000 reports of issues with Instagram as of 1:44 p.m. Eastern time, according to Downdetector, which tracks outages by collating status reports from a number of sources.Facebook and Instagram both experienced outages on Monday, according to the web site Downdetector. REUTERSDowndetector’s numbers are based on user-submitted ...

Boeing plans to lay off about 10% of its workers in the coming months as it continues to lose money and tries to deal with a strike that is crippling production of the company’s best-selling airline planes.New CEO Kelly Ortberg told staff in a memo Friday that the job cuts will include executives, managers and employees.The company had already imposed rolling temporary furloughs, but Ortberg said those will be suspended because of the impending layoffs. The company will delay the rollout of a new plane, the ...

Tesla’s Optimus humanoid robots stole the show at Elon Musk’s splashy Hollywood event on Thursday night as they danced onstage, served up watermelon-flavored cocktails and charmed guests with their fun and friendly chit-chat.Following Musk’s introduction, the robots emerged from parted curtains and walked into the audience in a single-file line. The faceless, tall figures with joint-like bends around the knees, hips, shoulders and elbows – can “basically do anything you want,” Musk said.A bartending bot – w ...

McDonald’s anticipates that 2025 will be “another challenging year” for the fast food chain which has seen inflation-hit customers pare back discretionary spending.Chris Kempczinski, the company’s chief executive officer, told a business gathering in Boston on Thursday that the Big Mac maker is girding for more turbulence ahead.“We’re starting to talk about 2025, and my message to our teams has been: ‘We need to be preparing for another challenging year’,” Kempczinski said in remarks at a Boston College Chi ...

Tesla's Robotaxi Strategy - Tesla unveiled a prototype called the "Cybercab," described as capable of "supervised full self-driving," with no steering wheel or pedals [1] - The company aims to roll out robotaxis "before 2027" at a cost of under $30,000 [1] - Tesla's strategy relies on "computer vision" and end-to-end machine learning, which translates camera images into driving decisions [2] - The company's approach is simpler and cheaper but struggles with "edge cases" and lacks redundancy systems like radar and lidar used by competitors [2] - End-to-end AI technology is a "black box," making it difficult to identify and fix failures when accidents occur [3] Competitive Landscape - Tesla's competitors, including Waymo, Zoox, Cruise, and Chinese firms, use layered technologies like radar, lidar, and sophisticated mapping for safety and regulatory approval [2] - Waymo already operates robotaxis in select cities, but Tesla aims to sell affordable robotaxis that can drive themselves anywhere [4] - Tesla's high-volume models with Autopilot and FSD provide a competitive advantage in data collection, enabling large-scale analysis for self-driving tech development [7] Challenges and Investor Pressure - Tesla faces technical challenges in its autonomous strategy, including convincing regulators and passengers of vehicle safety [1] - The company's shift from mass-market EVs to self-driving tech has intensified investor pressure, with Musk stating that those doubting Tesla's ability to "solve autonomy" shouldn't invest [5] - Tesla's Autopilot and FSD systems have been under investigation for overstating self-driving capabilities, with 542 crashes reported between 2018 and 2023 [6] Future Outlook - Musk predicts Tesla might achieve unsupervised driving "by the end of this year" or "next year," but industry experts believe it will take at least three years to match Waymo's current level of autonomy [7] - Despite skepticism, Tesla's autonomy strategy is seen as a "bold bet" with potentially immense payoff if the company can overcome technical challenges [5]

Amazon Prime Big Deal Days broke records as the e-commerce site’s biggest October shopping event yet, the company said Thursday.Amazon hosted its Prime Big Deal Days on Tuesday and Wednesday – a two-day event that offered a slew of deals and promotions to its members.While Amazon doesn’t release specific sales numbers from its Prime events, the company said Prime members worldwide saved more than $1 billion across millions of deals. 3 Amazon Prime Big Deal Days broke records as the company’s biggest Octob ...

Microsoft says that its Outlook email service, the Teams teleconferencing app and the 365 subscription-based Office suite are all down.Downdetecor, a site that monitors online disruptions, shows that people began reporting the outages at around 11 a.m. Eastern time on Thursday.The Washington State-based tech giant confirmed that it “identified a potential memory management issue which may be responsible for causing impact.” “We’re obtaining memory dumps and logs from Outlook client telemetry data for analys ...