Spotify Embarks on Third Round of Layoffs, Slashing 17% of Workforce
Spotify has announced the termination of 17% of its worldwide personnel, the music streaming service's third wave of layoffs this year as it works to cut expenses while concentrating on profitability.
Dec 05, 2023 01:17 AM EST
US Inflation Expected to Ease Further, Recession Fears Diminish
According to a study issued on Monday, the majority of business economists believe that even if the employment market eventually weakens due to rising interest rates, the U.S. economy might escape a recession in 2024.
Dec 04, 2023 09:31 AM EST
Maersk Makes Strategic Investment to Fortify South-East Asia's Supply Chain Resilience
Maersk, a Danish shipping giant, said on Monday that it will invest more than $500 million to develop its South-East Asian supply chain infrastructure.
Dec 04, 2023 09:09 AM EST
Gold Surges Past $2,100, Signaling a New Era of High Prices
For the second day in a row, gold prices broke beyond $2,100 on Monday, as the world's appetite for metal looks certain to persist.
Dec 04, 2023 07:08 AM EST
Bitcoin Climbs to $40,000, Fueling Optimism in Crypto Markets
For the first time this year, Bitcoin has above $40,000 as traders await the upcoming approval of U.S. stockmarket-traded bitcoin funds and the widespread excitement surrounding U.S. interest rate reduction.
Dec 04, 2023 04:53 AM EST
Alaska Air Acquires Hawaiian Airlines in $1.9 Billion Deal
Alaska Airlines said on Sunday that it has reached an agreement to acquire Hawaiian Airlines for $1.9 billion, including debt, positioning the airline for possible conflict with the Biden administration, which has expressed apprehension over increased sector rates.
Dec 03, 2023 11:23 PM EST
Unwanted Goods? Retailers Turn to "Keep-It" Policies to Curb Rising Return Costs
A number of companies are advising customers not to bother returning items for a refund due to the high expense of processing, repackaging, and trying to resell stuff. Rather, they are stating that you may retain it and still receive a refund.
Dec 02, 2023 12:30 PM EST
Saudi Fund Urged to Withdraw from Altman-Backed AI Chip Venture in US
On Thursday, the Biden administration has compelled a venture capital firm supported by Saudi Aramco to sell its stake in a Silicon Valley AI chip business that is supported by Sam Altman, the co-founder of OpenAI.
Dec 02, 2023 11:02 AM EST
Biden Administration's Push to Reduce China Reliance May Hinder EV Tax Credits
President Joe Biden's aim of having half of all new passenger vehicles sold in the United States run on electricity by 2030 may be hampered by new restrictions that were announced on Friday.
Dec 02, 2023 08:43 AM EST
UK Government Intervenes to Investigate Potential Abu Dhabi Takeover of The Telegraph
The culture and media secretary has stepped in to investigate the Daily Telegraph's sale to a business supported by the royal family of Abu Dhabi.
Dec 01, 2023 11:10 AM EST
Nvidia's Secret Weapon? Tiny Singapore Packs a Powerful Chip Punch
When the American chip company Nvidia released its impressive third-quarter earnings last week, industry watchers noted that a sizable portion of its income originated from a single little country.
Dec 01, 2023 09:50 AM EST
Soccer Star Cristiano Ronaldo Faces $1 Billion Lawsuit for Promoting Binance NFTs
Cristiano Ronaldo, a Portuguese soccer player, is being sued in a class-action lawsuit for his part in pushing to millions of his followers cryptocurrency-related "non-fungible tokens," or NFTs, released by the struggling cryptocurrency exchange Binance.
Dec 01, 2023 08:44 AM EST
Tesla's Cybertruck: High Price Could Dampen Enthusiasm for Electric Pickup
The starting price for Tesla's long-delayed Cybertruck is $60,990, which is more than 50% more than what CEO Elon Musk had advertised in 2019 and a price that experts predict would appeal to a privileged few.
Dec 01, 2023 06:22 AM EST
Oil Markets Brace for Impact as OPEC+ Announces Production Cuts
The OPEC oil cartel, led by Saudi Arabia and allied producers like Russia, took another huge go at supporting lagging crude prices on Thursday, extending some supply restrictions into next year and pulling in up-and-coming oil provider Brazil.
Nov 30, 2023 10:59 PM EST
JPMorgan Acquires Significant Stake in Spanish Defense Contractor Indra
JPMorgan purchased a 10.6% stake in Spanish defense systems producer Indra (IDR.MC), according to the stock exchange regulator on Thursday.
Nov 30, 2023 06:36 AM EST