Must Read Money Stories for Wednesday, April 20

by April 20, 2016


Big Cuts at Intel

Intel is the next technology giant to announce big cuts to its workforce. Intel announced Tuesday that it would reduce staff by more than 10 percent with an expected 12,000 job cuts. MarketWatch reported that Intel executives say the company’s announcement reflects a larger restructuring plan moving away from chips for personal computers and toward larger plans to support cloud infrastructure and larger computer networks. Employees affected by the cuts will learn their status in the next two months, officials say.

Melissa Mayer on a Yahoo! Sale

Yahoo! released first-quarter revenue reports, according to Bloomberg, and it wasn’t pretty. The tech giant’s revenue declined 18 percent, though Bloomberg noted that this figure included sales with partner sites. All talk of abysmal first-quarter numbers only amplified conversations of a future sale and the company’s worth. Yahoo! CEO Melissa Mayer said on Tuesday that a sale was “a top priority.”

More Trumps out there?

While the country awaits the primary season ending, Reuters reported several prominent businessmen with policies similar to Trump seeking public office in opposition to establishment lawmakers. The report cited a number of contests in states like Wisconsin, New Hampshire and Arizona where traditional establishment politicians faced opposition from candidates with policy that aligned with the real estate mogul’s platform. The report also noted some political analysts say that if Trump becomes the eventual nominee for the Republican Party, traditional GOP voters may not turn out. Establishment incumbents may actually lose to Democrats come November, the report added.

Those Chipped Credit Cards…

According to the New York Times, Visa announced it would update software of chipped credit card readers to reduce the time it takes to read the new cards. Good timing because American consumers hate the technology, according to NPR’s Marketplace. The chips, aimed at adding security at the checkout lane, have confused users and added seconds to the process, Marketplace listeners reported.

Pexels photo45111 by “Dom J” Creative Commons license CC by-NC-ND 2.0.