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PayPal Plans to Cut 20% of Workforce as CEO Seeks to Revamp
PayPal Holdings Inc. plans to cut around 20% of its workforce in the next two to three years, according to a person familiar with the matter, as new Chief Executive Officer Enrique Lores seeks to reduce costs and turn around the payments company. PayPal employed around 23,800 people at the end of the year, meaning a workforce reduction of that size could eliminate more than 4,500 jobs. It’s part of the company’s plan to realize at least $1.5 billion in savings over the next two to three years, a...
State pension age rises to 67 with millions facing delayed retirement
The state pension age began its gradual increase to 67 in April, marking a significant shift for millions of workers approaching retirement.The qualifying age will rise incrementally over the next two years until it reaches 67.Those born between April 6 and May 5, 1960 are the first cohort affected by the change, facing an additional one-month wait before receiving their payments.The adjustment reflects rising life expectancy, with many younger workers now expected to remain in employment into t...
Nissan to merge UK production lines and cut European workforce
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Subway closed 729 stores last year as chain continues to see dwindling number of locations, report says
USUS MoneySubway closed 729 stores last year as chain continues to see dwindling number of locations, report saysSubway remains the biggest chain in the U.S. despite recent closures Isabel Keane in New York Tuesday 05 May 2026 17:05 BSTBookmarkCommentsGo to commentsBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":true,"showBookmark":true,"...
ECB Doesn’t See Enough Yet to Warrant Rate Hike, Villeroy Says
The European Central Bank doesn’t yet see enough impact on inflation from rising oil prices to prompt an increase in interest rates, outgoing Governing Council member Francois Villeroy de Galhau said.
Seattle-born AI tycoon says he's quitting his home city for red state over millionaire tax and arrogant attitude of woke mayor, 43, whose parents still pay her bills
Seattle-born AI tycoon says he's quitting his home city for red state over millionaire tax and arrogant attitude of woke mayor, 43, whose parents still pay her billsBy RACHEL BOWMAN, US SENIOR NEWS REPORTER Published: 16:59, 5 May 2026 | Updated: 17:00, 5 May 2026 e-mail View comments
Jim Ratcliffe warns UK's energy policy is ‘all over the place’ as Ineos pumps investment in Donald Trump’s US
Billionare businessman Sir Jim Ratcliffe has expanded his company’s stake in US oil after describing domestic energy policy as “all over the place”. Ineos Energy, which runs the energy-related operations of Ineos, the petrochemicals group founded by Sir Jim, has launched a joint venture with Shell Offshore in US waters. Ineos Energy announced last year that it would cut offshore funding in the UK in favour of the US. Company chairman Brian Gilvary said America had a “proper energy security and a...
Larry Fink Says Futures of Compute Will Be New Asset Class
BlackRock Chair and CEO Larry Fink suggests the demand for computing power is so large that a new asset class will spring up. He speaks at the Milken Institute Global Conference in Beverly Hills, California. (Source: Bloomberg)
Consolidating your debt may not save you money this May. Here's why.
MoneyWatch: Managing Your Money Consolidating your debt may not save you money this May. Here's why. We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she...
AEP Weighs Break From Two of America’s Biggest Power Grids
American Electric Power Co. is reviewing its memberships in two of the biggest US power networks after the utility’s top boss accused the grid operators of being too slow to connect data-center customers.
Goldman's Snider Sees 'Yellow Flags' in Equities
Ben Snider, chief US equities strategist at Goldman Sachs Group Inc., says only a small number of stocks are driving the market to new highs. “If you look at the S&P 500, we’re at an all-time high, but the median stock in the index is still about 13% below its respective high,” Snider said Tuesday in an interview with Bloomberg Television. (Source: Bloomberg)
Nissan to shut production line in Sunderland as part of 'decisive action' - Job cuts unclear
Nissan has confirmed that it will be closing one of its production lines at its historic Sunderland plant as part of a major restructuring across the brand.A spokesperson for the Japanese brand told GB News that it would "consolidate production from two lines to one" at the Sunderland plant.It stated that these changes were taking place as "we assess future opportunities to secure full plant utilisation".Reports also suggest that Nissan will cut around 10 per cent of its European workforce, whic...
Syrian refugee raped woman, 19, in beach promenade toilet after giving her a lift on his e-bike because she was lost, court hears
Syrian refugee raped woman, 19, in beach promenade toilet after giving her a lift on his e-bike because she was lost, court hearsBy JACK HARDY, NEWS REPORTER Published: 16:35, 5 May 2026 | Updated: 16:35, 5 May 2026 e-mail View comments
How to get funding from big backers
From army commander to pandemic data chief to AI startup founder, Alex Cooper has taken an unconventional path to securing a $14m raise - here, he shares the tips that helped Electric Twin win over some of the world's savviest investors
Diamondback Sees 10% More Permian Oil Rigs by Year-End as War Boosts Prices
Diamondback Energy Inc., one of the biggest US shale producers, predicts that drillers will add as many as 30 rigs to America’s most prolific oil field by the end of the year as the Iran war sends crude prices soaring.
Ambev Soars Most Since 1999 as Brazil Beer Boosts Earnings
Shares of Ambev SA, the Brazilian unit of Anheuser-Busch InBev NV, soared the most in nearly 27 years after stronger-than-expected beer volumes in the South American nation drove a beat in first quarter earnings.
What It Will Take to Fix the Oil Market
The standoff in the Strait of Hormuz has removed millions of barrels of oil from markets, exposed stockpiles, spare capacity and even OPEC. Here's what would get the energy markets back on track. (Source: Bloomberg)
Best debt relief companies, plus advice borrowers need to know now
MoneyWatch: Managing Your Money Best debt relief companies, plus advice borrowers need to know now We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she wr...
Mexican billionaire was so delighted to meet descendant of Gilded Age's famous Astor family he handed him $450m... only to get a VERY nasty shock, prosecutors allege
Mexican billionaire was so delighted to meet descendant of Gilded Age's famous Astor family he handed him $450m... only to get a VERY nasty shock, prosecutors allegeSign up for our US Editor's Picks newsletter to get all the biggest exclusive stories By ELIOT FORCE, US NEWS REPORTER Published: 16:12, 5 May 2026 | Updated: 16:12, 5 May 2026 e-mail View comments
What would a $20,000 debt consolidation loan cost monthly at today's rates?
MoneyWatch: Managing Your Money What would a $20,000 debt consolidation loan cost monthly at today's rates? We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Angelica Leicht Angelica Leicht Senior Editor, Managing Your Money Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, whe...