Boeing layoffs, Facebook firings, meat recalls, Amazon goes nuclear

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Image for article titled Boeing layoffs, Facebook firings, meat recalls, and Big Tech goes nuclear: Business news roundup — Image: John Greim / Contributor (Getty Images), Justin Sullivan / Staff (Getty Images), Joe Raedle (Getty Images), Photo: Patrick T. Fallon/AFP (Getty Images), AWS, Chip Somodevilla (Getty Images), MIGUEL J. RODRIGUEZ CARRILLO/AFP (Getty Images), CFOTO/Future Publishing (Getty Images)

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Almost 10 million pounds of meat are being recalled at Walmart, Trader Joe’s, and other stores

Frozen food section of a supermarket — Image: John Greim / Contributor (Getty Images)

Hundreds of products sold in the nation’s top grocery chains, including Walmart (WMT), Kroger (KR), 7-Eleven (SVNDY), and Trader Joe’s, have been recalled over concerns of listeria contamination.

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Meta fired dozens of employees for using $25 food credits to buy wine glasses and toothpaste

A pedestrian walks in front of a new logo and the name ‘Meta’ on the sign in front of Facebook headquarters on October 28, 2021 in Menlo Park, California.

Image: Justin Sullivan / Staff (Getty Images)

Meta (META), the parent company of Facebook, Instagram and WhatsApp, fired over 20 employees last week for abusing the company’s food credit system to buy household items.

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A meat recall for listeria has grown to 12 million pounds. Here are 15 products affected

Major retailers, including Amazon (AMZN), Costco (COST), Walmart (WMT), and Trader Joe’s, have issued a nationwide recall for over 300 ready-to-eat meals due to a potential outbreak of Listeria monocytogenes.

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Boeing is about to send thousands of pink slips

Boeing (BA) is about to start the countdown clock on 10% of its workforce losing their jobs. Reuters reports that the company will begin sending 60-day notices to affected employees next month.

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Amazon is joining Google and Microsoft in going big on nuclear power

view of a walkway between racks and cables in a data center — AWS data center

Amazon (AMZN) is joining its artificial intelligence competitors in the race for nuclear energy.

The tech giant has signed three agreements “to support the development of nuclear energy projects,” it said Wednesday. The agreements include building “several” small modular reactors (SMRs). These “advanced” nuclear reactors have “a smaller physical footprint, allowing them to be built closer to the grid,” Amazon said. And compared with traditional reactors, SMRs can be put online faster because construction takes less time.

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Nvidia stock falls 5% as the U.S. eyes AI chip export limits

Jensen Huang sitting in a chair speaking with his hands up in front of a purple backdrop — Nvidia CEO Jensen Huang at the Bipartisan Policy Center on September 27, 2024 in Washington, D.C.

Shares of Nvidia (NVDA) fell over 5% Tuesday, a day after after closing at a record high.

The chipmaker’s stock was down less than 1% in pre-market trading, but had fallen by about 5% by midday. The drop occurred following a report that the U.S. could cap sales of advanced artificial intelligence chips from U.S.-based chipmakers to certain countries. Biden administration officials in recent weeks have discussed putting a ceiling on export licenses for advanced AI chips, including those from Nvidia and rival AMD (AMD), to countries in the Middle East, citing national security concerns, Bloomberg reported.

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Hurricanes Milton and Helene showed the problem of insurance and moral hazard. Here’s how to fix it

A vehicle is stranded on a water-flooded street after Hurricane Milton made landfall in Brandon, Florida

Hurricane Milton has blown through and the worst is over for Florida. But it’s not over for everyone. Meteorologists warn we’ll get stronger and more frequent tropical storms in the coming years, as the oceans warm and sea levels rise thanks to climate change.

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Apple is losing to Huawei in China. Here’s why

The Apple Store on Nanjing Road Pedestrian Street in Shanghai, China, October 12, 2024.

Photo: CFOTO/Future Publishing (Getty Images)

Since releasing its Mate 60 Pro series last August, Chinese tech giant Huawei has made a comeback in China’s smartphone market, knocking Apple (AAPL) from its pedestal.

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