Exclusive: GE lays off workers at onshore wind unit as part of turnaround strategy
General Electric Co is laying off workers at its onshore wind unit as part of a plan to restructure and resize the business, which is grappling with weak demand, rising costs and supply-chain delays, four sources familiar with the move said.
Italy’s Ali Group sees shelter from economic storm in Welbilt deal
Welbilt’s exposure to the U.S. fast-food market will make new Italian owner Ali Group more resilient in a slowing global economy, while the deal will bring $100 million in cost savings, the chief executive of the catering equipment company told Reuters.
U.S. reports 1.35 million COVID-19 cases in a day, shattering global record
The United States reported 1.35 million new coronavirus infections on Monday, according to a Reuters tally, the highest daily total for any country in the world as the spread of the highly contagious Omicron variant showed no signs of slowing.
Futures slump on fresh Omicron worries after vaccine warning
U.S. stock index futures fell sharply on Tuesday after a warning from vaccine maker Moderna’s chief executive on the effectiveness of COVID-19 shots against the Omicron variant hammered travel, energy and banking shares.
