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- Oil Prices Surpass $106 Amid US-Iran Tensions in Strait of Hormuz
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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.
For the first time in three months, the UK economy grew, recording a slight expansion of 0.1% in November, according to official figures. This follows two consecutive months of economic contraction.
The United States saw a notable rise in inflation last month, driven by spikes in energy and food costs. According to the Labor Department, prices in December increased by 2.9% compared to the same period a year earlier, up from 2.7% in November.
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