Financial Fluctuations: Job Cuts, AI Leaps, and Strategic Sales

The latest Financial Times headlines reveal major developments: Société Générale plans significant job cuts in France, Logical Intelligence brings AI pioneer Yann LeCun onboard amid breakthroughs, and Orbex enters sale talks. Meanwhile, Berkshire Hathaway considers divesting its Kraft Heinz stake.

Société Générale is set to cut 1,800 jobs in France, as CEO Slawomir Krupa intensifies efforts to reduce the bank's persistent high costs. This move marks a significant shift in the bank's cost management strategy.

In the tech sector, Logical Intelligence has appointed AI expert Yann LeCun to its board, signaling a major advancement in AI model development and investment pursuits with a valuation exceeding $1 billion.

On the aerospace front, Orbex, backed by the UK government, is negotiating a potential sale with European space entity The Exploration Company. Simultaneously, Berkshire Hathaway may sell its $7.7 billion stake in Kraft Heinz, shaking up the packaged food industry.

(With inputs from agencies.)