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Business
Meta is laying off 8,000 workers, about 10 per cent of its workforce, to enhance efficiency and focus on artificial intelligence investments. Concurrently, Microsoft is offering voluntary buyouts to approximately 8,750 employees, marking a significant shift for the company amid industry-wide cost adjustments.
Oil prices surged above $106 per barrel amid escalating US-Iran tensions in the Strait of Hormuz, following reciprocal vessel seizures. The increase represents a nearly 5% rise since late Wednesday, reflecting concerns over shipping disruptions in a key global energy transit route.
US liquefied natural gas exporters are poised to gain as markets plummet amid the Iran war: Markets are plummeting as the conflict escalates – but not every industry is affected.
The firm’s reorganisation plan assures that nearly all customers will recover at least the full amount lost during FTX’s collapse in November 2022.
The company argues that the law violates free speech rights for itself and its 170 million American users. It contends that the concerns put forward by the US government to justify the law are speculative.
Sales fell 4% to $90.8bn in the first three months of 2024, mainly due to fewer people buying iPhones. The company blamed this on supply chain issues caused by Covid, which boosted sales last year.
After a months long dry spell, TikTok users can once again see the popular social…
This means the Federal Reserve’s main rate stayed at its highest level in over 20 years, between 5.25% and 5.5%, where it’s been since last July.
New rules clamping down on China’s internet giants are now in effect. These rules, part of the expanded State Secrets Law, require companies like Tencent, ByteDance, and Weibo to swiftly act if users share sensitive content.
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