Here are the headlines you Need 2 Know for Friday, January 17, 2020:
Cheddar's Hena Doba and Jill Wagner get into the latest.
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Report: Tyson Foods Is Eliminating 10 Percent of Corporate Jobs
Tyson Foods is eliminating about 10 percent of corporate jobs and 15 percent senior leadership positions, according to a memo obtained by Reuters. The cuts are just the latest attempt to trim costs amid falling profits.
Verizon is Planning to Expand 5G Network in Rural Areas
Verizon is taking steps to speed up its 5G network in rural areas. The company said it plans to extend its C-band 5G network across a larger suburban and rural footprint, meaning faster speeds for customers in those areas.
Facebook Parent Meta Posts Solid 1Q Results, Stock Soars
Facebook parent company Meta's first-quarter results surpassed Wall Street's modest expectations on both profit and revenue, sending its stock soaring in after-hours trading.
Stellantis to Offer Buyouts Amid Electric Vehicle Transition
Another automaker is trying to cut its workforce to trim expenses and stay competitive as the industry makes the long and costly transition to electric vehicles.
US Economy Grew at Weak 1.1 Percent Rate in Q1 in Sign of Slowdown
The U.S. economy slowed sharply from January through March, decelerating to just a 1.1% annual pace as higher interest rates hammered the housing market and businesses reduced their inventories.
Jobless Claims Fall Again With Labor Market Churning Along
Applications for unemployment benefits in the U.S. fell last week as the labor market continues to show strength despite some weakness in other parts of the economy.
Elizabeth Holmes Delays Going to Prison With Another Appeal
Disgraced Theranos CEO Elizabeth Holmes has avoided starting her more than 11-year prison sentence on Thursday by deploying the same legal maneuver that enabled her co-conspirator in a blood-testing hoax to remain free for an additional month.
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