If the tech giants decide to undertake significant operating and CapEx cuts, the chip industry may be in for an extended slump. Amazon, Google, and Microsoft operate the largest public cloud services and have collectively shelled out $120.6 billion in capital expenditures in the last four quarters. Along with Facebook, they plan on scaling back …
Continue reading “Chip industry’s recovery relies on Tech Giants’ cost-cutting ventures”
Imported cost pressures and currency weaknesses have accelerated Japan’s core consumer inflation index to 3.6% year on year in October – a 40-year high. The Bank of Japan’s ultra-loose monetary policy coupled with even lower interest rates have together resulted in inflation rising way above its target of 2% in one year. The nearly 3.6% …
Continue reading “Japan’s inflation hits a 40-year high as BOJ sticks to easy policy.”
Jeremy Hunt, Britain’s chancellor of exchequer or the treasury chief, said on Thursday that he’s increasing the windfall tax on profits of oil and gas companies. These announcements are part of an emergency budget that aims to restore the economic credibility of Britain and patch up its botched finances. Rise in windfall taxes According …
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“Our cadence of hiring is just right for us; we are still hiring — although at a pace that we think corresponds with the global challenges that we are facing,” Mr. Chew, CEO of TikTok, said at a Bloomberg event in Singapore recently. These are soothing words for an industry heavily impacted by the global …
Continue reading “TikTok Plans To Double Staff Despite Mass Layoffs”
Yes, you heard it right. This is real. The multi-million-making e-commerce company Amazon can no longer sustain its employees. Followed by many big tech companies around the globe, Amazon is also planning for layoffs. Read to know all about it. Why is Amazon Laying Off? Amazon plans to start laying off a striking number of …
Continue reading “Amazon Planning to Lay Off 10,000 Employees”
Air India, a company ranked among the 50 most prominent airlines in the world by fleet size, has been condemned with hefty charges by the U.S. Department of Transportation due to violation of rules in passenger refunds, leaving them with a penalty of $121.5 million. Air India is one of the largest operating airlines in …
“Today I’m sharing some of the most difficult changes we’ve made in Meta’s history. I’ve decided to reduce the size of our team by about 13 per cent and let more than 11,000 of our talented employees go”. With these words, Mark Zuckerberg, founder, and CEO of Meta laid off 11,000 employees, or about 13 …
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On Monday, the sphere of agriculture received a big boost as Zimbabwe disclosed the launch of its first-ever nano-satellite into space. Through this, they will be able to scan disasters, escalate agriculture, and also boost mineral mapping. This is an immensely thoughtful step taken by Zimbabwe to advance the sphere of agriculture. They made it …
Apple is not only renowned for its iPhone, but also for its whopping market value. The exponential growth of Apple has been vividly noticed in its market value, surpassing the industry giants Amazon, Alphabet, and Meta combined. Currently, Apple is standing tall at a worth of $2.307 trillion, with its competitor fellows jammed at $2.306 …
Honda has been proposing a battery-swapping infrastructure that would allow motorcycles, scooters, and other vehicles to use the same interchangeable power packs for several years; with the release of the Honda Power Pack Exchanger e:, the company has finally taken a major step toward realizing this vision. The Honda Power Pack Exchanger e:, first offered …
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The enterprise tech world is evolving with newer ambitions. While the wings of innovation are spreading to newer skies, the technologists are finding it hard to play catch-up and are making sure they are in tune with the technology juggernaut. CIOCoverage aims to bridge this very gap that exists between the tech-savvy where he rests, in the very heart of it. Awakening a keen insight in you to move along the flow, CIOCoverage works to make the entrepreneurs, versatile to the sturdy technological influences.
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