Business

Cisco will cut thousands of jobs in a second round of layoffs this year as the US networking equipment maker shifts focus to higher-growth areas, including cybersecurity and AI, people familiar with the matter said. The number of people affected…

The Chinese government said it has filed a complaint with the World Trade Organisation (WTO) over European Union tariffs on electric vehicles made in China. The commerce ministry said China had resorted to the WTO dispute settlement mechanism “to safeguard…

The operator of the ‘X’ social media platform has given an undertaking to the High Court to temporarily cease processing the personal data of its European users to train any of its Artificial Intelligence systems. The undertaking, which relates to…

Elon Musk’s social media platform X has sued a group of advertisers, alleging that a “massive advertiser boycott” deprived the company of billions of dollars in revenue and violated antitrust laws. The company formerly known as Twitter filed the lawsuit…

Japan’s benchmark Nikkei 225 stock index has plunged 12.4 per cent in the latest bout of sell-offs to shake world markets as investors fret over the state of the US economy. The Nikkei closed down 4,451.28 points at 31,458.42 on…

Aer Lingus owner International Consolidated Airlines Group (IAG) has seen shares lift after it scrapped a deal to buy Spanish carrier Air Europa. IAG shares rose 5 per cent in early trading on Friday after it confirmed the termination, posted…

Chipmaker Intel says it is cutting 15% of its workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD. It’s unclear how many jobs will be…

PTSB will resume dividend payments with a modest distribution, probably in 2026, and build towards a payout ratio of about 40% of attributable profit, the bank said on Thursday after a sharp rise in half-year profit. Majority owned by the…

Ranelagh pub McSorley’s has been purchased by the team behind Lemon & Duke and The Bridge 1859 for €5.5 million. McSorley’s will join Lemon & Duke, The Bridge 1859, The Blackrock and Little Lemon in the pub group, which will…

Bank of Ireland reported a better than expected 5 per cent rise in first half pre-tax profit on Wednesday and lifted its net interest income guidance for 2024 for the second time this year. First half profit rose 5 per…