Business

NEW YORK (Reuters) — Oreo cookie-maker Mondelez put new management in place at its profitable Russian business this week, according to two internal company memos seen by Reuters that reveal fresh details of a corporate overhaul in Europe. After months of boycotts and pressure from shareholders and …

(Reuters) — Nike will cut about 2% of its total workforce, or more than 1,600 jobs, the sportswear giant said late on Thursday to lower expenses as demand for its shoes and sneakers comes under pressure. Higher rental and interest rates have led customers to cut back spending on high-priced goods, …

LONDON (Reuters) — Google is preparing to launch an anti-misinformation campaign across five countries in the European Union (EU), the company told Reuters ahead of the bloc’s parliamentary elections and tougher new rules tackling online content. In June, EU citizens will elect a new European…

(Reuters) — Microsoft-backed OpenAI is working on a software that can generate minute-long videos based on text prompts, the company said on Thursday. The software, called Sora, is currently available for red teaming, which helps identify flaws in the AI system, as well as for use by visual artists…

(Reuters) — Meta Platforms on Wednesday added Broadcom CEO Hock Tan to its board of directors, bringing on the head of a company known for its networking chips. Broadcom is one of Meta’s key partners in both its data center ambitions and effort to design its own chips and also offers services…

(Reuters) — Match Group was sued on Wednesday in a proposed class action claiming that its dating apps Tinder, Hinge and The League are designed to addict users, generating more profit for the company, rather than help them establish relationships. The plaintiffs said Match’s “predatory…

LONDON (Reuters) — Dutch brewer Heineken on Wednesday forecast low- to high-single digit percentage growth in operating profit in 2024, citing volatility in geopolitics and economic conditions, which could deliver a result below market expectations. Analysts on average expected the world’s se…

BRUSSELS (Reuters) — Apple has won an exemption for its iMessage and Microsoft for its Bing search engine from new EU tech rules after the companies convinced antitrust regulators their services are not gateways for businesses to reach end-users. The European Union’s Digital Markets Act (DMA)…