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Snap to lay off 10% of global workforce, around 500 employees
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Reed Hastings sells $1.1 billion in Netflix shares
Netflix co-founder and executive chairman Reed Hastings has gifted two million shares of the streaming giant, according to a regulatory filing, with a current value of more than $1.1 billion.
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23andMe’s Fall From $6 Billion to Nearly $0
From celebrity ‘spit parties’ to a drop in the bucket: The once-hot DNA-testing company is struggling to profit
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Elon Musk’s $55.8 Billion Tesla Pay Package Struck Down by Judge
The Delaware judge cited Musk’s “extensive ties” with those determining his most recent pay deal, which shareholders approved in 2018.
By Editors Desk
Latest Business
Amazon calls off its $1.7 billion purchase of iRobot amid antitrust challenges
The companies abandoned the deal amid rising global challenges to tech mergers
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China Evergrande Is Told to Liquidate
The breakup of the company, once China's top property developer by sales, is set to send a further shock wave through the country's struggling real-estate sector.4 min read
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Bernard Arnault Overtakes Elon Musk As Richest Person In The World
French billionaire Bernard Arnault—owner of luxury brands like Louis Vuitton and Sephora—is now the richest man in the world.
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Microsoft Hits $3 Trillion, Cementing Strength of AI Rally
The threshold cements Microsoft’s status as one of the largest public stocks.
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Ebay to Lay Off 9% of Full-Time Workforce
Online marketplace to lay off about 1,000 full-time employees
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Netflix password crackdown fuels sign-up surge
Netflix sign-ups boomed at the end of last year as customers prodded by the firm's crackdown on password-sharing created their own accounts.
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Boeing Faces More Pressure as United CEO Vents Frustrations
Scott Kirby has vented his frustrations over quality lapses
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Sony Calls Off $10 Billion Merger With Indian TV Giant Zee Entertainment Enterprises
Following the deal cancelation news, Zee shares sank by a further 6% in early Monday trading on the Bombay Stock Exchange and the NSE, featuring around INR231 apiece.
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Macy’s Plans to Slash 2,350 Jobs and Close 5 Stores
Macy’s executive compensation included salary, equity, and other benefits which reportedly totaled above 12 million for Gennette in 2021.
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Wayfair lays off 13% of its workforce weeks after telling employees to work harder
Wayfair announced Friday it's laying off 1,650 employees.
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Spotify Dominates Audio Streaming, but Where Are the Profits?
The company has expanded beyond music to stay ahead but has struggled to make money
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Sam Altman and Satya Nadella talk to The Economist
The bosses of OpenAI and Microsoft on the future of AI and superhuman intelligence
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Sam Altman, Bill Gates Weigh AI Risks in Big Election Year
AI and democracy are the talk of Davos.
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Electric Car Owners Confront a Harsh Foe: Cold Weather
In freezing temperatures, the batteries of electric vehicles can be less efficient and have shorter range, a lesson many Tesla drivers in Chicago learned this week.
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US judge blocks JetBlue from $3.8bn Spirit Airlines takeover
Ruling marks victory for Biden government and its effort to preserve lower cost airline tickets for American consumers
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