United States tech giant Meta plans 8,000 layoffs

 

SILICON VALLEY, California — Meta Platforms is preparing to cut about 8,000 employees, or roughly 10% of its global workforce, by Wednesday, May 20, 2026, according to multiple reports citing internal sources. The planned redundancies come despite Meta reporting what outlets describe as record financial results for the first quarter...

NEW YORK bitcoin slides as rate fears spark liquidations

 

NEW YORK — Bitcoin (BTC) fell about 3.2% over 24 hours to trade near $78,000 on Saturday, May 16, 2026, as rising concerns over renewed U.S. interest rate hikes triggered a sharp deleveraging across crypto derivatives markets and undermined recent bullish sentiment. Data from Investing.com and Coinglass showed that more...

New York stocks slide after Beijing Trump-Xi summit

 

NEW YORK, United States – U.S. stocks fell sharply on Friday, May 15, 2026, as investors reacted to the conclusion of a high-profile summit between President Donald Trump and Chinese President Xi Jinping in Beijing and to a surge in global oil prices. The Dow Jones Industrial Average dropped 380.11...

United States jury deliberates Musk-Altman OpenAI dispute

 

Washington, United States – In a closely watched federal court case over the future of OpenAI, legal teams representing Elon Musk and Sam Altman delivered their closing arguments in a high‑stakes showdown. Musk’s attorneys argued that OpenAI’s transition from a purely non‑profit research lab to a for‑profit structure breached fiduciary...

United States tech firms flag Anthropic supply-chain risk

 

United States – U.S. technology companies are increasingly designating Anthropic as a supply chain risk amid the AI firm’s escalating legal dispute with the U.S. government. Firms such as Figma have disclosed in regulatory and customer communications that this classification could jeopardize their ability to sell or maintain AI-powered tools...

United States: Cisco cuts 4,000 jobs in AI pivot

 

United States-based Cisco Systems said on Wednesday it will cut nearly 4,000 jobs as part of a restructuring plan to shift investment toward artificial intelligence and related growth areas, including silicon, optics and security. The networking equipment maker said the layoffs are part of a broader effort to redirect spending...

LIRR negotiations intensify as potential strike nears

 

Long Island — Negotiators for the Metropolitan Transportation Authority and five Long Island Rail Road unions returned to the bargaining table Friday as a potential strike loomed that could begin early Saturday and disrupt roughly 300,000 daily commuters; unions urged a 5% fourth-year contract raise while the MTA offered 3%...

Allegiant completes Sun Country acquisition amid industry strains

 

Las Vegas — Allegiant Air completed its acquisition of Sun Country Airlines this week after receiving regulatory and shareholder approvals, company statements said Wednesday; the deal, first announced in January and valued at about $1.5 billion including debt, left the combined fleet at 195 aircraft with 30 on order and...

Nasdaq Firms Report Q1 2026 Results and Strategic Moves

 

United States — On May 14, 2026, multiple Nasdaq-listed companies issued first-quarter 2026 results and corporate updates: Cheetah Net Supply Chain Service Inc. (Irvine) reported a sharp revenue decline and an operating loss for the quarter ended March 31, 2026; Biofrontera Inc. (Woburn) reported revenue growth and materially higher gross...

United States regulators probe AI PreStocks token scandal

 

United States regulators are scrutinizing tokenized “PreStocks” tied to private equity in Anthropic and OpenAI after the instruments sharply fell in value following a series of unauthorized equity transfer warnings. The tokens, which trade on the Solana blockchain, are designed to give retail investors exposure to privately held, high‑valuation AI...