At its developers conference, Nvidia (NVDA) announced a new AI platform called Blackwell. It includes a new chip that the company has dubbed “the world’s most powerful.” Nvidia says they expect companies such as Google (GOOGL, GOOG), Microsoft (MSFT), and Meta (META) to adopt the new platform. Another stock on the move is Unilever (UL). The consumer goods company announced it is cutting about 7,500 roles and that it's spinning off its ice cream unit, which includes Ben & Jerry’s. Other trending tickers on Yahoo Finance include bitcoin (BTC-USD), StoneCo (STNE), and MicroStrategy (MSTR). Top guests today include:9:20 a.m. ET - Kristy Akullian, BlackRock Senior Investment and Portfolio Solutions Strategist9:40 a.m. ET - Darren Woods, ExxonMobil CEO10:05 a.m. ET - Jim Tobin, NAHB CEO & President10:15 a.m. ET - Robert Kaplan, former Federal Reserve Bank of Dallas President11:05 a.m. ET - Ray Wang, Constellation Research Founder, Principal Analyst
STORY: Major job cuts and a big divestiture is on the way for the maker of Ben & Jerry's and Magnum.Unilever announced Tuesday (March 19) it plans to spin off its ice cream unit into a standalone business.The consumer goods giant also revealed a new cost-savings program that would cut 7,500 jobs.Unilever said the spin off will begin immediately, and expected to complete by the end of next year.The company said it aims to deliver mid-single digit underlying sales growth and modest margin improvement after the split.Unilever launched a program expected to deliver total cost savings of around $869 million over the next three years. The proposed changes would impact around 7,500 mostly office-based roles globally.Total restructuring costs are now anticipated to be around 1.2% of its turnover during the period.In October, CEO Hein Schumacher laid out plans to simplify the business as he admitted Unilever had underperformed in recent years. Schumacher had earlier said the company would focus on 30 key brands which account for 70% of its sales.He also aimed to work on improving its gross margin and not undertake any major or transformational acquisitions.Investors liked what they heard on Tuesday and shares jumped over 5%, before scaling back.
STORY: "Communications are being restored and mechanized clearing of the transport slope is being carried out," the ministry said on the Telegram messaging app.The accident occurred at the Pioneer mine, one of the largest gold mines in Russia based on processing capacity, Russian media reported. The mine is located in the Eastern Siberia Amur region that borders China to the south.The mine is owned by the London-listed Russian gold miner Petropavlovsk, which in 2022 filed for administration after Western sanctions on Gazprombank, its main lender and the sole buyer of its gold, left it struggling to repay debt.