LONDON — Deliveroo CEO Will Shu is set to step down from the food delivery company he co-founded over a decade ago.Shu, who established Deliveroo in 2013 with childhood friend Greg Orlowski, said Thursday that he will step down as CEO after its takeover by U.S. rival DoorDash is completed.DoorDash announced its deal to buy the British online takeout platform in May. The acquisition values Deliveroo at £2.9 billion ($4 billion)."I have decided that now is the right time for me to step down," Shu said in a st ...

The exterior of an Olive Garden is seen on June 20, 2025 in Austin, Texas.Darden Restaurants on Thursday reported mixed quarterly results, as Olive Garden and LongHorn Steakhouse helped offset weakness in its fine-dining business.The company also raised its full-year forecast for revenue growth, although it only reiterated its projections for its earnings. Shares of the company fell 6% in premarket trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of an ...

Lip-Bu Tan, chief executive officer of Intel Corp., departs following a meeting at the White House in Washington, DC, US, on Monday, Aug. 11, 2025.This is breaking news. Please refresh for updates.Nvidia said it will invest $5 billion in Intel as part of a deal to co-develop data center and PC products with the troubled chipmaker which took on the U.S. government as an investor last month.Nvidia is investing its stake at a price of $23.28 a share, a release from the company said. Intel shares jumped 33% to ...

The Nvidia logo appears on a smartphone reflecting the flags of China and the U.S. Nurphoto | Nurphoto | Getty ImagesBeijing has reportedly halted purchases of yet another AI chip from Nvidia, freezing it out of the market completely — a move industry experts say reflects the country's growing confidence in domestic chip makers and an attempt at gaining trade leverage.It was only a few months ago when Jensen Huang announced, from China, that the U.S. would allow it to resume sales of its made-for-China H20 ...

NEW YORK – Hyundai Motor is increasing its revenue expectations for this year, despite ongoing U.S. tariffs causing the automaker to lower its expected operating profit margin for 2025.The new targets call for an operating profit margin this year of between 6% and 7%, down from 7% to 8%, and an increase in revenue of between 5% and 6% — up 2 percentage points — compared with 175.2 trillion South Korean won (US$12.7 billion) in 2024.The South Korean automaker revised its financial targets Thursday ahead of a ...

Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic and Wegovy are pictures while the company presents the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025.Novo Nordisk said Wednesday that late-stage trial results for its once-daily obesity pill showed "significant" weight reduction and tolerability in line with its blockbuster Wegovy injection, as drugmakers race to get an oral treatment to market.Results from t ...

A person walks past a display of an Atlas 900 AI cluster at the Huawei stand during the World Artificial Intelligence Conference at the Shanghai World Expo and Convention Center in Shanghai on July 28, 2025.BEIJING — Chinese telecommunications giant Huawei announced Thursday new computing systems for powering artificial intelligence with its in-house Ascend chips, as it steps up pressure on U.S. rival Nvidia.The company said it plans to launch its new "Atlas 950 SuperCluster" as soon as next year.The U.S. h ...

The Bank of England (BOE) in the City of London, UK, on Monday, Dec. 16, 2024.LONDON — European stocks are expected to open higher on Thursday, as traders evaluate the U.S. Federal Reserve's rate cut on Wednesday.The U.K.'s FTSE index is seen opening 0.18% higher, Germany's DAX up 0.65% France's CAC 40 up 0.37% and Italy's FTSE MIB up 0.31%, according to data from IG.Global markets are assessing the Fed's decision to cut its benchmark overnight lending rate by 25 basis points on Wednesday.In an 11-to-1 vote ...

The airline is planning its November schedule and Davis told employees in a memo, which was reviewed by CNBC, that they will see a 25% cut in capacity over 2024 "as we optimize our network to focus on our strongest markets."Spirit Airlines CEO Dave Davis on Wednesday braced staff for more job cuts and said the carrier plans to slash its schedule in November to reduce costs weeks after declaring its second bankruptcy in less than a year.The struggling discount carrier is also in negotiations with vendors and ...

Workday CEO Carl Eschenbach told CNBC's Jim Cramer on Wednesday that the rise of artificial intelligence is positive for his company, pushing back against what he called a "narrative out there that AI is eating the software world.""For some people, AI may be a headwind. For Workday, it's a tailwind," Eschenbach said. "We have 75 million users on our platform. We have one of the most highly-curated sets of data in the industry that we get to train off of."Workday is an enterprise software outfit that offers ...