Browsing Category
General business news
8629 posts
FICO revenue jumped 26%, yet it is cutting 15% of jobs. What changed so quickly?
Fair Isaac Corporation is eliminating about 15% of positions while flattening management and integrating artificial intelligence into product development, even after quarterly revenue surged 26%, making the restructuring as much about competitive pressure and operating design as conventional cost cutting.
Grede bought the Meadville foundry to expand capacity. Five years later, 170 jobs are disappearing
Grede LLC’s Meadville, Pennsylvania foundry closure has become effective, eliminating 170 positions and turning a facility acquired during the manufacturer’s expansion phase into another example of industrial capacity being reassessed across mature United States manufacturing networks.
HSBC’s AI reset could wipe out 70% of UK wealth adviser roles. Is banking automation entering a new phase?
HSBC Holdings plc is reportedly preparing deep reductions across its United Kingdom wealth management workforce, including cuts affecting financial advisers, managers and specialists, as Chief Executive Officer Georges Elhedery pushes artificial intelligence deeper into the bank’s operating model.
Nexfibre’s £2bn Netomnia deal faces a competition test over Britain’s fibre shakeout
The UK Competition and Markets Authority has provisionally found that nexfibre’s £2 billion acquisition of Netomnia’s parent could weaken wholesale broadband competition, creating a difficult regulatory test over whether Britain needs consolidation to rescue fragile fibre challengers or more independent networks to keep BT Openreach under pressure.
Sesterce’s €10bn Finland AI bet tests whether abandoned factories can become Europe’s next AI hubs
Sesterce plans to transform the former Kaipola paper mill in Jämsä into a 600 MW artificial intelligence campus backed by an unidentified anchor customer. The project could turn obsolete industrial infrastructure into valuable compute capacity, but its extraordinary scale leaves major questions around financing, grid capacity, taxation and execution.
Who actually runs Better now after shareholders removed five directors and the interim CEO?
Better Home & Finance has removed interim CEO Daniel Lewis after a Vishal Garg-led shareholder campaign replaced five directors, leaving the mortgage technology company with a new board, another CEO search and Nasdaq governance deficiencies while losses continue.
Why did Avient lose 7.8% after changing CEOs with earnings guidance unchanged?
Avient has installed former UPL chief Mike Frank as CEO while reaffirming 2026 guidance, but a 7.8% stock decline shows investors are questioning why leadership changed during a period of record adjusted margins and improving organic growth.
Is Washington becoming lender, shareholder and buyer in strategic industries?
From Wolfspeed and MP Materials to USA Rare Earth and Project Vault, Washington is combining long-term loans, equity-linked instruments, price support and strategic stockpiling to reshape how critical U.S. industries are financed.
Electro Optic Systems (ASX: EOS) signs its biggest counter-drone deal, but what must happen before the cash arrives?
Electro Optic Systems has signed a conditional A$700 million contract to help protect Kuwait from drone threats, marking a major milestone for its MARSS acquisition. However, an outstanding ÂŁ74 million bank guarantee, export approvals, substantial working-capital requirements and contractual liability provisions will determine how quickly the agreement becomes revenue and cash flow.
KONE targets 100,000 connected elevators in India as Pune digital centre advances service strategy
KONE has opened a Digital Experience Centre in Pune as it prepares to expand connected elevator coverage across India. With approximately 50,000 lifts already connected and a goal of doubling that figure, the initiative could strengthen predictive maintenance, customer retention and recurring service revenue, although the company has not disclosed the centre's investment cost or expected financial contribution.