Argo AI, a self-driving car company that is majority owned by Ford and Volkswagen, has cut about 100 employees from Munich-based Audi Autonomous Intelligent Driving, a 300-person firm it acquired in June, The Information has learned. The move came as a surprise to some people in the Audi unit, including those who had recently moved to Munich to work there, according to an employee. When VW...
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The Briefing Crypto Markets
Ugly Quarter for Crypto and Tech Stocks Ends; No Joy for Ron Johnson
Tonight we’re closing the books on the second quarter of 2022, a period no one is likely to mourn. The stock market’s slide turned into a collapse. Bitcoin prices tumbled off a cliff. Layoffs took off. SPAC mergers fell apart. And even the lively business news event that started the quarter, Elon Musk’s investment in and subsequent bid for Twitter, turned into a quagmire of uncertainty.As if to...
China’s Tencent, ByteDance Implement New Round of Layoffs
Meta Executive Warns of ‘Fierce’ Headwinds
BlockFi CEO Denies Reports of $25 Million Acquisition by FTX
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