EUR/USD 1.17858
0.110%
Gold 5096.86
2.005%
Oil 66.320
-0.480%
USD/JPY 155.059
0.041%
GBP/USD 1.34890
0.196%
GBP/JPY 209.162
0.248%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
February 22nd - According to foreign media analysis, Nvidia has played a key role in driving the stock market to record highs for years. However, with growing skepticism about artificial intelligence, Wall Street is increasingly worried that the chip giants earnings report next week, regardless of the outcome, will depress its stock price. Nvidias stock price has been trading sideways for months, a significant setback for a company that was recently a leading index performer and achieved triple-digit year-over-year gains. Investors expect Nvidias earnings next week to exceed Wall Street expectations and raise forecasts for the next few quarters. But this may not be enough to boost the stock price. Meanwhile, if Nvidias performance fails to quell investor anxiety about artificial intelligence, it could lead to greater volatility in AI-related stocks and the broader market.February 22 - Libyas state-owned Arabian Gulf Oil Company (AGOCO) announced on Sunday that the Sinawan oil field in the Nalut region of western Libya has resumed production. The field had been shut down for over three years due to financial and technical problems. Under normal operating conditions, the field can produce up to 20,000 barrels of oil per day.February 22 – According to AXIOS, a senior U.S. official said on Sunday that if U.S. negotiators receive a detailed nuclear agreement proposal from Iran within the next 48 hours, they are prepared to hold a new round of talks with Iran in Geneva on Friday. The U.S. official stated that the current diplomatic efforts may be the last chance President Trump is giving Iran before launching a large-scale U.S.-Israel joint military operation (potentially targeting Iranian Supreme Leader Khamenei). The senior U.S. official indicated that the Trump administration is awaiting Irans proposal.U.S. Trade Representative Greer: We will continue the trade investigation so that we can impose tariffs.U.S. Trade Representative Greer: We will explore policy continuity issues after the tariffs imposed under Section 122 expire.

Intel Reduces Employee And Executive Salaries As The PC Market Declines

Aria Thomas

Feb 01, 2023 14:53

微信截图_20230201145424.png


Intel Corp (NASDAQ:INTC) announced on Tuesday that it has significantly reduced employee and management compensation, one week after issuing a lower-than-anticipated sales estimate due to a loss of market share to competitors and a decline in the PC market.


The cutbacks will range from 5% of base salary for mid-level staff to as much as 25% for the company's chief executive, Pat Gelsinger, according to an unnamed source with knowledge of the situation who was not authorized to speak publicly.


Addy Burr, a spokesperson for Intel, said in a statement that the "changes are intended to have a greater impact on our executive population and will assist support investments and the overall workforce."


Intel reported this week that its profit margins were plummeting as the PC industry has cooled following many years of expansion during the epidemic.


Gelsinger also acknowledged that Intel had "stumbled" and lost market share to competitors like Advanced Micro Devices (NASDAQ:AMD) Inc, which on Tuesday posted quarterly sales that topped Wall Street's estimates.


In addition to 5% cutbacks for mid-level staff, vice president level individuals would experience 10% reductions, and the company's top executives other than the CEO will receive 15% declines, according to a source familiar with Intel's compensation cuts.


In addition, the company has reduced its 401(k) matching program from 5% to 2.5% and banned merit raises and quarterly performance bonuses, according to the source.


Annual performance bonuses based on Intel's overall financial performance will continue, although the size of these payments has diminished in recent years as the business has lost ground to competitors, the source said.

Suggestion