Month: October 2022

Intel To Fire Thousands Just Weeks After Biden Signs CHIPS Stimulus Bill

The layoffs will likely be announced around the time the company reports its Q3 earnings on Oct. 27, said Bloomberg sources. And there will be quite a few to pick from: the chipmaker had 113,700 employees as of July, or a roughly 1 worker for every market cap in value (INTC’s market cap closed at a 8-year-low of $102.8 billion today). Some divisions, such as Intel’s sales and marketing group, could see cuts affecting about 20% of staff, the report noted.

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Where Is All The Oil Going?

The Strategic Petroleum Reserve is being drawn down, but end consumers are using up the refined oil stocks. The implication is that US oil producers need to increase production, and will likely need to see higher oil prices.

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CHANGE LANGUAGE/CAMBIAR IDIOMA

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