Intel is laying off over 15,000 employees
and will stop ‘non-essential work’
Posted By: Dreadnought, 8/1/2024 7:22:52 PM
Intel’s on a long, long road to recovery, and over 15,000 workers will no longer be coming along for the ride. The chipmaker just announced it’s downsizing its workforce by over 15 percent as part of a new $10 billion cost savings plan for 2025, which will mean a headcount reduction of greater than 15,000 roles, Intel tells The Verge. The company currently employs over 125,000 workers, so layoffs could be as many as 19,000 people. Intel will reduce its R&D and marketing spend by billions each year through 2026; it will reduce capital expenditures by more than 20 percent this year; it will restructure to “stop non-essential work,”
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Former President Donald Trump said Friday on Fox Business Network’s “Mornings With Maria Bartiromo” that Meta CEO Mark Zuckerberg called him after the assassination attempt and apologized for Facebook and Instagram censoring photos of him with his fist raised.
Trump said, “Mark Zuckerberg called me. First off he called me a few times after the event and said that was amazing and brave and actual he announced he is not going to support a Democrat because he can’t because he respected me for what I did that day.”
He added, “To me it was a normal response but I was called by Mark Zuckerberg the day before on the same subject
Vice President Kamala Harris said Friday she is “honored to be the presumptive Democratic nominee” after she collected enough delegates in online voting to earn the nomination.
“I will officially accept your nomination next week, once the virtual voting process is closed, but I’m happy to know we have enough delegates to secure the nomination,” Harris reportedly told her supporters in a call on Friday.
The deadline for delegates to submit their virtual ballots is Monday, but
Say that five times fast - I dare you.
HAH!
It's been less than two weeks since our sad sack o' carbon president-in-name-only stepped gracefully out of his reelection race and the coronation effort of Kamala Harris as successor began in earnest. In the ensuing days, even as Barack Obama was forced to nod his head in her direction, trapped as he was by POTATUS endorsing her during his exit, Democrats have done their damnedest to begin an immediate and complete remake of a thoroughly vapid, self-absorbed, and unlikable woman.
What's involved in such an undertaking is pretty complex,
Coalitions of minority groups cannot band together to claim that political maps constitute discriminatory gerrymandering, the 5th U.S. Circuit Court of Appeals ruled in a Galveston County lawsuit.
The 12-6 decision found that the Voting Rights Act’s protections for individual racial or ethnic groups do not extend to multiple groups joining together to claim that political boundaries dilute their votes. The ruling came in a case in which Black and Latino voters jointly sued Galveston County for voter discrimination after the county dismantled a district where people of color made up the majority.
The ruling reverses decades
The economy seems to be on solid footing, with the nation’s gross domestic product and employment both notching healthy gains recently.
Yet Friday’s jobs report revealed that the unemployment rate last month jumped from 4.1% to 4.3% - still a historically low figure - but a sign that the U.S. could be in the early stages of a recession based on one measure.
Stay calm. Most economists say the measure - called the Sahm rule – probably doesn’t apply this time because of the unprecedented ways the pandemic upended the economy and labor market.
Still, a 4.4% jobless rate is roiling stocks and may signal further weakening
Nasdaq falls 10% from record high
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The Nasdaq Composite index fell 2.2% on Friday, putting it on track to confirm it is in a correction following concerns about pricey Big Tech valuations and a cooling economy.
Hit by softer-than-expected job reports and disappointing forecasts from Amazon and Intel, the Nadsaq’s latest decline leaves it down 10.2% from its record high close of 18,647.45 points on July 10.
The Nasdaq 100 index was also on track to confirm a correction territory from its all-time closing high of 20,675.38 points.
An index or stock is widely considered to be in a correction, signaling investor pessimism, when it closes 10% or more below its previous record closing high.
The July jobs report is out, and it is bad news for the Harris-Biden administration. The report shows that job growth in the United States fell way short of expectations, the unemployment rate went up, and a recession has been triggered.
"The unemployment rate rose by 0.2 percentage point to 4.3 percent in July, and the number of unemployed people increased by 352,000 to 7.2 million. These measures are higher than a year earlier, when the jobless rate was 3.5 percent, and the number of unemployed people was 5.9 million," reports the Bureau of Labor Statistics. The unemployment rate is now at its highest level since October 2021.
On Thursday’s broadcast of MSNBC’s “Katy Tur Reports,” Washington Post columnist Jason Rezaian, who was wrongfully detained by Iran for over a year before being freed in a prisoner swap in 2016, argued that while we shouldn’t avoid doing deals to free wrongfully detained Americans, countries take Americans prisoner “because they can get away with it. They’ve seen time and again, that they’re able to take an American and extract something of value in return.” And “we have to raise the cost of doing this in the first place. At the moment, there’s no cost to doing it.”
Chevron plans to relocate its headquarters from California to Texas, joining a growing list of companies bound for the Lone Star State citing excessive regulation for their departure. The Financial Times reports the second-biggest U.S. oil company said Friday it would leave the state where it has been a fixture for almost 150 years following clashes with authorities over climate policies and penalties it has said render California “closed for business.”
The promise of lower taxes and lighter regulation is also often given as a reason by other companies that have also made the same move from the West Coast.
Wall Street Journal reporter Evan Gershkovich finally touched down on US soil late Thursday night after spending more than a year in a hellish Russian prison — and becoming the first American journalist to be arrested for alleged spying since the Cold War.
The 32-year-old journalist — along with freed hostages Paul Whelan and Alsu Kurmasheva — landed at Joint Base Andrews in Maryland, where they were greeted by President Biden and Vice President Kamala Harris.
The brave reporter shook hands with Biden and Harris as he briefly spoke with them and gave the commander in chief a hug before he was surrounded by jubilant family members for their long-awaited emotional reunion.
As RedState reported Wednesday, despite the fact that it has been eleven days since Vice President Kamala Harris effectively became the presumptive 2024 Democratic presidential nominee, she hasn't given one press conference or had any media interactions where she's actually taken any questions from reporters.
She has done other things, though, things that I think most people would describe as "weird." Interestingly, that is what many on her side have taken to calling Sen. JD Vance (R-OH), Donald Trump's vice presidential running mate, even though - last I checked - it wasn't JD Vance who pretended to have a southern accent and who campaigned and laughed
Khalid Sheikh Mohammed Wins in the End
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Khalid Sheikh Mohammed was the principal organizer of the September 11 attacks that killed around 3,000 Americans. He has been held prisoner at Guantanamo Bay for more than two decades. Yesterday the Biden administration announced that it has reached a “plea deal” with KSM and two high-ranking al Qaeda confederates:
“In exchange for removal of the death penalty as a possible punishment, these three Accused have agreed to plead guilty to all of the charged offenses, including the murder of the 2,976 people listed in the charge sheet,”
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Khalid Sheikh Mohammed Wins in the End
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Khalid Sheikh Mohammed was the principal organizer of the September 11 attacks that killed around 3,000 Americans. He has been held prisoner at Guantanamo Bay for more than two decades. Yesterday the Biden administration announced that it has reached a “plea deal” with KSM and two high-ranking al Qaeda confederates:
“In exchange for removal of the death penalty as a possible punishment, these three Accused have agreed to plead guilty to all of the charged offenses, including the murder of the 2,976 people listed in the charge sheet,”
Earlier today, David looked at the results of the first boxing match at the Olympic Games in Paris where a man was allowed to fight a woman because he "identifies" as being female. This is a subject that we previewed at length here yesterday. Unfortunately, the fight was allowed to proceed and Imane Khelif was matched up against female Italian boxer Angela Carini. As predicted by many, including yours truly, the fight didn't even last one minute into the first round. The referee declared a technical knockout after 46 seconds. Kheif came out and hit Carini so hard that her headgear was dislodged by the first blow.
The Republican National Committee unanimously voted on Holocaust Remembrance Day to pass a resolution condemning anti-Semitism. This resolution provides strong evidence of the Party and its leader, Donald J. Trump’s stance towards Jews. Nevertheless, if the Party leaders expect a positive response from the Jewish community in November, they may be disappointed.
For years, Donald Trump has been tirelessly trying to gain support from American Jews. In the current campaign, he is emphasizing his unparalleled support for Israel and highlighting the Biden administration’s inconsistent approach to Israel’s conflict with Hamas. In an interview on Real America’s Voice on April 8, 2024, Mr. Trump asserted that “any Jewish individual who casts
Kyle Rittenhouse used a social media video message to announce he will not vote for Donald Trump in the upcoming presidential election.
Instead, Rittenhouse says he will write in Ron Paul for president.
Rittenhouse, the Outreach Director for Texas Gun Rights, said, “Unfortunately, Donald Trump had bad advisors, making him bad on the Second Amendment, and that is my issue.”
He added, “If you cannot be completely uncompromisable on the Second Amendment, I will not vote for you, and I will write somebody else in. We need champions for the Second Amendment or our rights would be eaten away and eroded each day. I support my decision and I have no takebacks.”
Wall Street Journal reporter Evan Gershkovich finally touched down on US soil late Thursday night after spending more than a year in a hellish Russian prison — and becoming the first American journalist to be arrested for alleged spying since the Cold War.
The 32-year-old journalist — along with freed hostages Paul Whelan and Alsu Kurmasheva — landed at Joint Base Andrews in Maryland, where they were greeted by President Biden and Vice President Kamala Harris.
The brave reporter shook hands with Biden and Harris as he briefly spoke with them and gave the commander in chief a hug before he was surrounded by jubilant family members for their long-awaited emotional reunion.
Vice President Kamala Harris said Friday she is “honored to be the presumptive Democratic nominee” after she collected enough delegates in online voting to earn the nomination.
“I will officially accept your nomination next week, once the virtual voting process is closed, but I’m happy to know we have enough delegates to secure the nomination,” Harris reportedly told her supporters in a call on Friday.
The deadline for delegates to submit their virtual ballots is Monday, but
Kamala Harris “throws around F-bombs” and constantly berated her staff when she was California Attorney General, according to a shocking report.
An unearthed 2019 op-ed from professor Terry McAteer published in California newspaper The Union describes the “eye-opening” month his son Gregory spent as an intern for Harris, now the presumptive Democratic nominee for president.
McAteer, a Democrat with generational political ties to the party, claimed his son was subjected to a “side of Kamala Harris which the general public does not know”.
US concludes Nicolás Maduro lost Venezuela’s
presidential election: ‘Overwhelming evidence’ 19 replies
presidential election: ‘Overwhelming evidence’ 19 replies
The US has found no evidence that Venezuelan President Nicolás Maduro received the most votes in last month’s presidential election and the Biden administration will recognize opposition candidate Edmundo González as the winner, Secretary of State Antony Blinken announced Thursday.
Blinken, 62, ripped the Maduro-controlled National Electoral Council’s (CNE) vote tally and determination that the incumbent prevailed in the July 28 election with 51% of the vote as “deeply flawed” and unrepresentative of the “will of the Venezuelan people,” in a statement released by the State Department.
A grieving Las Vegas mother has been left 'dumbfounded and in shock' after four bullies who were caught on camera beating her son to death accepted plea deals.
Melissa Ready lost her son Jonathan Lewis, 17, after he was attacked by a group of teens and stomped to the point of unconsciousness, before dying a week later.
Dontral Beaver, 16, Damian Hernandez, 18, Treavion Randolph, 16, and Gianni Robinson all stood accused of his murder after being charged as adults in January.
On Thursday, it was announced that they all accepted a plea deal that will allow them to plead guilty as juveniles to manslaughter.
CNN political analyst Van Jones said Thursday on “The Situation Room” that there is “Kamala-mania” in the 2024 presidential election because people are excited about Kamala Harris.
When asked about her fundraising, Jones said, “Kamala-mania, Kamala-mania. Just energy, energy energy. A big percentage of those donors are first-time donors in this cycle, hadn’t given to Biden, had not given to anybody. People are excited about Kamala Harris. And it’s showing up in the numbers, it’s showing up in the polls. What a turnaround in the past two weeks in terms of energy, momentum and enthusiasm for Kamala Harris.”
A whistleblower alleged that Secret Service acting Director Ronald Rowe personally cut security resources and “retaliated” against agents with security concerns leading up to former President Donald Trump’s rally on July 13, according to a letter released Thursday.
The whistleblower alleged that Rowe personally implemented “significant cuts” to the Counter Surveillance Division (CSD), which does advanced threat assessments for venues, and alleged that agents who expressed security concerns were “retaliated against,” according to Missouri Republican Sen. Josh Hawley’s letter to Rowe. As a result, the CSD failed to perform its “typical evaluation” of the rally venue in Butler County, Pennsylvania, and “was not present on the day” of the attempted assassination.
During a back-and-forth with reporters after announcing a prisoner swap deal with Russia on Thursday, a visibly testy and confused President Joe Biden tried to blame his predecessor and possible successor, Donald Trump, for not rescuing hostages that were taken after Biden took office.
Biden, who inserted a churlish partisan dig at Trump into his announcement of the deal with Russia, was attempting to depart from the podium when a reporter noted that Trump has “said repeatedly that he could’ve gotten the hostages out without giving anything in exchange.” “Why didn’t he do it when he was president?” Biden snapped before marching off the stage.