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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 lead for the London business newspaper CITY AM reports consumer goods giant Unilever topped the FTSE 100 leaderboard on Tuesday as news of job cuts and a spin-off of its ice cream business appealed to investors. Online, the paper leads with the latest UK inflation rates.
The Financial Times leads on Rachel Reeves’s pledge to borrow only for investment, echoing fiscal rules set out under the last Labour government. The shadow chancellor said on Tuesday that Labour would follow fiscal rules set by the current Conservative chancellor, Jeremy Hunt.
The UK inflation rate has fallen to 3.4% in the year to February. It marks the lowest level in almost two and a half years.
Ted Baker calls in administrators putting 86 stores at risk of closure Hundreds of jobs…
Software firm Bytes Technology Group, who has appointed an independent committee to investigate secret trades of former boss Neil Murphy, sending shares down as much as 14 per cent.
The Financial Times reports on the news that Deloitte, one of the “big four” global accountancy firms, is poised to overhaul its business structure.
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