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[ad_1] Procter & Gamble will cut 7,000 jobs, or about 6% of its workforce, over the next two years, as part of a restructuring that will include the Tide maker exiting some product categories in certain markets. The two-year restructuring plan comes as consumer goods giants P&G (PG) and Unilever brace for muted demand in 2025 stemming from growing uncertainty due to US tariffs. “This is not a new approach, rather an intentional acceleration of the current strategy… to win in the increasingly challenging environment in which we compete,” P&G executives said at a Deutsche Bank Consumer Conference in Paris…

[ad_1] Hello there! The NBA Finals begin tonight. The playoffs feel incredibly less interesting now that my beloved New York Knicks are gone, but the NBA would beg to differ. Despite it being two small-market teams — the Indiana Pacers and Oklahoma City Thunder — NBA executives spoke to BI about why they still see the series as a big opportunity.In today’s big story, a worse-than-expected jobs report reinvigorated President Donald Trump’s attacks against Fed Chair Jerome Powell to lower rates. (But one corner of the job market is doing surprisingly well.)What’s on deckMarkets: Jamie Dimon just got more backup…

[ad_1] Roblox has “structural advantages” that can drive the stock higher, according to Bank of America. The bank upped its price target on the online game platform to $103 per share from $86 and reiterated its buy rating. BofA’s forecast calls for roughly 13% upside from Wednesday’s close. “We expect to see talent and capital flow into the RBLX ecosystem faster than mobile app & console games for the foreseeable future,” analyst Omar Dessouky wrote in a Wednesday note. “The string of strong results and share price rally appears to have catalyzed interest among new long-term oriented growth investors.” RBLX…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Mass surveillance. Pandemic tracking. Predictive policing. Insurrection detection. Drug testing. Political lobbying. AI deployment. NHS restructuring. Employee snooping. Vaccine rollouts. Spac investment. Referencing Tolkien. It’s hard to avoid priors with Palantir. To do no more than list its activities can make a person sound like a crank and/or co-founder. That’s why a recent note from Trivariate Research caught our attention. A boutique founded by former hedge fund manager and Morgan Stanley chief US equity strategist Adam Parker, Trivariate rarely does single…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.UK fintech Wise plans to switch its primary listing to New York in an attempt to attract more investors and improve liquidity in its shares, dealing a fresh blow to the London market.The company, which listed to great fanfare in London in 2021 at an almost £9bn valuation, said the move would increase its appeal to US investors and enhance its expansion plans in the world’s biggest economy.Announcing the decision on Thursday, Wise said: “We believe the addition of a primary…

[ad_1] From coding agents to a Manhattan-sized data center, Meta’s going all in on AI this year — and now plans to put it to work in HR.The company is preparing to use AI to automate key parts of its recruitment process, including testing coding skills and helping interviewers with question prompts, according to an internal document obtained by Business Insider.The document reveals Meta’s plans to lean on AI to carry out several functions in its hiring process in the latter half of this year. Meta aims to use AI for a lot of the administrative work involved in its…

[ad_1] The maker of Tide and Pampers plans to cut as many as 7,000 office jobs, or 15% of its non-manufacturing workforce, over the next two years.Procter & Gamble revealed the job cuts in a presentation from the Deutsche Bank Global Consumer Conference that was published on its website on Thursday.CFO Andre Schulten and COO Shailesh Jejurikar gave the presentation, which outlined a two-year drive starting in the 2026 financial year to boost growth and value creation.P&G said consumers faced greater uncertainty, competition was fierce, the geopolitical environment was unpredictable, and technology was rapidly transforming many aspects of our lives.”We…

[ad_1] London CNN  —  The European Central Bank on Thursday cut its main interest rate again, citing slowing price rises. The widely anticipated move takes the ECB’s main rate to 2%, from 2.25% previously, and marks the eighth time the central bank has slashed borrowing costs since last June as inflation has tumbled from multi-decade highs. Year-on-year consumer price inflation across the 20 countries using the euro dropped to 1.9% last month — falling below the ECB’s 2% target for the first time since September. The decision risks provoking further attacks by President Donald Trump on the Federal Reserve for…

[ad_1] CNN  —  Despite widespread concerns that the trade war is dragging down America’s economy, President Donald Trump has notched quite a few wins on his economic belt in recent weeks. Inflation keeps falling. Jobs remain plentiful. And there’s growing evidence the economy could be booming this quarter. That’s why Trump’s increasingly hostile rhetoric about China over the past week was particularly concerning ahead of his call Thursday with Chinese leader Xi Jinping. Trump’s economy is cookin’ – for now. But the economic Jenga tower the Trump administration has constructed is precariously balanced on a host of economic caveats and…

[ad_1] New York CNN  —  Michaels is jumping into the void left by the collapse of Joann, announcing Thursday that it’s buying the fabric retailer’s private label and drastically expanding its sewing selection. In a press release, Michaels said that searches on its website for the word “fabric” have jumped nearly 80% over the past year and “sewing” has increased by about 40%, prompting the retailer to make a “significant investment” in the category in hopes of attracting Joann’s fans. In response, Michaels is adding 600 products across several categories, including sewing and quilting supplies, fabric and yarn as well…