Boeing is freezing recruitment and drawing up plans to furlough “many” employees as the aerospace giant scrambles to curb spending after tens of thousands of its workers went out on strike.Warning that the industrial action “jeopardizes our recovery in a significant way”, the US planemaker said it would pause most employee travel and suspend non-essential capital expenditures.About 33,000 Boeing workers walked off the job early on Friday after voting overwhelmingly to strike for higher pay. The company’s ne ...

A second antitrust trial pitting Google against the US Department of Justice begins on 9 September, with a federal judge in Virginia to hear arguments over whether the tech giant illegally monopolized the digital advertising industry. The case could have far-reaching implications for Google’s primary source of revenue as well as the tech industry and online publishers.The long-awaited trial is the second major US antitrust suit against Google, after the company lost a landmark case last month that determine ...

Shares in the AI chip designer Nvidia have continued to slide overnight after a report said US authorities were ramping up an investigation into whether the company had breached competition laws.The company’s shares fell 2.4% in after-hours trading, exacerbating a near-10% drop in the regular trading session that slashed its value by $279bn (£212bn) to $2.6tn, marking the largest one-day drop in history for a US company.Overnight, the US Department of Justice sent subpoenas to Nvidia and other tech companie ...

Shares in the chip designer Nvidia have fallen after investors were spooked by signs of slowing growth and production issues, despite the artificial intelligence company posting a doubling of quarterly sales.The Silicon Valley company posted a 122% rise in second-quarter revenues to $30bn (£23bn) compared with the same period last year. While that beat average analyst estimates of $28.7bn, investors were spooked by signs of a slowdown in growth, particularly around its next-generation AI chips, code-named B ...

Chipmaker Nvidia reported its latest financial results on Wednesday, recording $30.04bn in revenue over the past three months – a 122% jump from the year prior – and showing that artificial intelligence investment mania shows no signs of cooling.The importance of Nvidia’s earnings results to Wall Street can hardly be overestimated – the company represents 6% of the total value of the S&P 500, currently the third most valuable company in the world by market capitalization at $3.1tn.The index has gained 27% o ...

Tesla has issued a recall for about 9,100 Model X sports utility vehicles in the US over a trim on the roof that could separate, it said on Wednesday, its second over the same issue since 2020.Front and center roof cosmetic trim pieces may be adhered without primer and could separate from the vehicle creating a road hazard and increasing the risk of a crash, the National Highway Traffic Safety Administration said.The recall covers 2016 model year Model X SUVs. The electric vehicle maker said a change in pro ...

Disney has dropped a controversial legal claim that the terms and conditions a widower agreed to when signing up for Disney+ streaming service protect it from a wrongful death lawsuit he brought over his wife’s death after she ate at a resort restaurant.On Monday night, Josh D’Amaro, the chair of Disney Experiences, released a statement announcing that Disney had decided to have the matter proceed in court, rather than through arbitration, as the company had been fighting for just last week.“At Disney, we s ...

Tesla will face a 9% levy on its Chinese-made cars exported to the EU, the European Commission has said, as it issued an update on its sweeping investigation into Beijing’s “unfair” subsidies of electric vehicles.The tariff on Tesla – far lower than the 21.3% average on companies that cooperated with the EU investigation and 36.3% on those that did not – came after the California-headquartered firm requested individual treatment as part of the wider Brussels inquiry.The levies – far lower than the 100% tari ...

Meta is struggling with moderating content related to the Israel-Palestine war, particularly in Hebrew, despite recent changes to internal policies, new documents have revealed.Internal policy guidelines shared with the Guardian by a former Meta employee who worked on content moderation outline a multilayered process for moderating content related to the conflict. But the documents indicate Meta, which owns the platforms Facebook, Instagram and WhatsApp, does not have the same processes in place to gauge th ...

A week after a judge ruled the tech giant illegally monopolized the online search market, the US Department of Justice is considering options that include breaking up Alphabet’s Google, worth some $2tn, according to reports from the New York Times and Bloomberg News.Divesting the Android operating system was one of the remedies most frequently discussed by justice department attorneys, the reports said.Officials were also considering trying to force a possible sale of AdWords, Google’s search ad program, an ...