Cisco to cut 7% of jobs globally
(Reuters) — Cisco Systems forecast better-than-expected first-quarter revenue on Wednesday and said it was cutting 7% of its global workforce as it shifts focus to high-growth areas, sending its shares up 5% in extended trading.
The San Jose, California-based company estimates it will recognize pre-tax charges of up to $1 billion in connection with the plan, with $700 million to $800 million of these being recognized in the first quarter.
Cisco said in February it would cut 5% of its global workforce, or more than 4,000 jobs, while lowering its annual revenue target.
US agency fines T-Mobile $60M over data breaches
WASHINGTON (Reuters) —A powerful U.S. committee that scrutinizes foreign investment for national security risks fined T-Mobile $60 million, its largest penalty ever, for failing to prevent and report breaches of sensitive data, senior U.S. officials said on Wednesday.
The penalty imposed by the Committee on Foreign Investment in the U.S. (CFIUS) is tied to violations of a mitigation agreement that German-controlled T-Mobile inked with the panel as part of its $23 billion acquisition of U.S.-based Sprint Corp in 2020.
In the case of T-Mobile, which is majority owned by Deutsche Telekom, the breaches of sensitive data occurred in 2020 and 2021, U.S. officials said.
US FTC finalizes ban on companies buying and selling fake online reviews
(Reuters) — The U.S. Federal Trade Commission on Wednesday finalized a ban on companies knowingly buying or selling fake online reviews, giving the agency the power to levy fines against the shadowy practice.
The ban covers trafficking in fake reviews, whether by non-existent customers, company insiders or artificial intelligence. It also prohibits buying and selling fabricated views or followers on social media, and using intimidation tactics to remove negative reviews.
The FTC can seek a maximum penalty of up to around $51,744 per violation.
Alaska Air flight attendants reject contract deal
CHICAGO (Reuters) — Flight attendants at Alaska Airlines have rejected a three-year tentative labor agreement, their union said on Wednesday.
The Association of Flight Attendants-CWA, which represents flight attendants at the Seattle-based carrier, said it will survey its members to determine key issues and return to the table to address them.
The tentative deal offered an average pay increase of 32%. It was also the first agreement to make boarding pay legally binding for unionized flight attendants.
Flight attendants in the U.S. are usually paid an hourly rate after the flight cabin doors close and it does not include the time taken to onboard passengers.
North Korea to open border for foreign tourists in December
SEOUL (Reuters) — North Korea will resume international tourism to its northeastern city of Samjiyon in December, and possibly the rest of the country, tour companies said on Wednesday.
The move is a sign that the reclusive country is readying to reopen borders to bigger groups of foreign tourists after years of strict COVID border controls.
“We have received confirmation from our local partner that tourism to Samjiyon and likely the rest of the country will officially resume in December 2024,” the Beijing-based Koryo Tours said on its website.
Hollywood union strikes deal for advertisers to replicate actors’ voices with AI
(Reuters) — The Hollywood actors’ union SAG-AFTRA announced on Wednesday a deal with online talent marketplace Narrativ that enables actors to sell advertisers rights to replicate their voices with artificial intelligence.
As performers fear AI will make theft of their likenesses common, the new agreement seeks to ensure actors derive income from the technology and have control over how and when their voice replicas are used.
Trump attacks Harris policies as allies push for messaging shift
ASHEVILLE, North Carolina (Reuters) — Republican presidential candidate Donald Trump lobbed a series of personal and policy-based attacks at his Democratic rival Kamala Harris in a speech on Wednesday, hoping to recover from a difficult stretch during which his lead in opinion polls has all but evaporated.
Some allies, donors and advisers have expressed concern at Trump’s attacks on the U.S. vice president’s intellect and suggested that he instead focus on what they argue are the failed policies Harris has promoted while in office.
Speaking to supporters in Asheville, North Carolina, Trump steered clear of broadsides challenging Harris’ racial identity and spoke about policy in more detail than he has at other recent events. But he continued to throw personal insults at her, at one point calling her “stupid” and denigrating her laugh as a cackle.
Hamas to stay out of Gaza truce talks
CAIRO (Reuters) — Hamas said on Wednesday it would not take part in a new round of Gaza ceasefire talks slated for Thursday in Qatar, but an official briefed on the talks said mediators expected to consult with the Palestinian group afterwards.
The U.S. has said it expects indirect talks to go ahead as planned in Qatar’s capital Doha on Thursday, and that a ceasefire agreement was still possible, while warning that progress was needed urgently to avert a wider war.
Axios reported that U.S. Secretary of State Antony Blinken has postponed a trip to the Middle East that had been expected to begin on Tuesday. White House press secretary Karine Jean-Pierre told reporters that CIA Director Bill Burns and U.S. Middle East envoy Brett McGurk will represent Washington at the talks on Thursday in Qatar.
Ukraine says advance into Russia ‘going well’
KYIV (Reuters) — Ukraine’s forces advanced further into Russia’s Kursk region on Wednesday as Kyiv said its gains would provide a strategic buffer zone to protect its border areas from Russian attacks.
Kyiv’s surge into Russian territory last week caught Moscow by surprise. Russian forces that began a full-scale invasion of Ukraine in 2022 had been grinding out steady gains all year.
President Volodymyr Zelenskyy said he met top officials to discuss the humanitarian situation and establishing a military commandant’s offices “if needed” in an occupied area that Kyiv says exceeds 1,000 sq km (390 sq miles).
Walz agrees to an Oct. 1 vice presidential debate
(TNS) — Tim Walz has agreed to an Oct. 1 vice presidential debate on CBS against his Republican rival, JD Vance, who has not yet responded to the invitation.
CBS News announced Wednesday that it had invited both Walz and Vance to a debate in New York City, and offered four date options.
Within minutes of the invitation, Walz posted on the social media platform X, “See you on October 1, JD.” Walz spent Wednesday in Denver at a private fundraiser, where he reportedly raised $3 million. He was headed to New England next for fundraisers in Boston and Rhode Island.
Columbia University President Minouche Shafik resigns
NEW YORK (TNS) — Columbia University President Minouche Shafik resigned Wednesday after coming under fire for her handling of pro-Palestinian protests, according to an email to students and faculty obtained by the Daily News.
Shafik, in explaining her decision to step down, said the last several months had taken a “considerable toll” on her family, and that she would be departing for a job in the British government.
With her announcement, she became the third Ivy League president to resign in the last year after testimony before Congress on campus antisemitism.
Texas sues Biden over nursing home staffing mandate
(TNS) — Texas Attorney General Ken Paxton sued the Biden administration Wednesday seeking to block a rule that requires nursing homes to have a minimum level of nurse and aide staffing to care for patients.
The lawsuit argues the Centers for Medicare and Medicaid Services do not have the authority to require more staffing in nursing homes.
The lawsuit argues the extra costs of hiring more staff will force many nursing homes in Texas “out of business.”