Layoffs: Disney cuts more jobs
The Walt Disney Company has launched a second round of layoffs as part of an earlier announced restructuring that will result in the loss of 7,000 jobs. The media conglomerate has been under pressure as its traditional television and film businesses contract while its streaming division continues to lose money. In February, CEO Bob Iger […]
Tesla cuts US prices for the fifth time
Image Source: Guide Auto Tesla cut prices in the United States by 2% and almost 6%, as the company’s website showed on Thursday. This is part of the company’s effort to sell more electric cars, which analysts say could hurt the company’s profits. Since the start of the year, this is the fifth price cut […]
Netflix cuts subscription prices – Atlanta Wire
Image Source: The Hindu Netflix has cut prices in over 30 countries to get more people to sign up. Prices have gone down in Asia, Europe, Latin America, sub-Saharan Africa, and the Middle East. It comes when people are tightening their budgets because of the rising cost of living and when Netflix is getting more […]
Adidas cuts ties with rapper Kanye West
Image Source: LA Times Kanye West, a rapper, has severed ties with the clothing giant Adidas. The sportswear company stated that it “does not allow antisemitism and any other type of hate speech.” After Kanye debuted a “White Lives Matter” T-shirt design during Paris Fashion Week. Adidas reevaluated its partnership with the Yeezy label. A […]
Homes face winter power cuts, says National Grid
Image Source: Credits Strategy According to a warning from National Grid, British homes might experience power cuts and outages for up to three hours at a time this winter. Even though the corporation called it an “unlikely” scenario, it warned that supply disruptions were conceivable if the energy crisis worsened. Customers would likely be informed […]
Kwasi Kwarteng U-turns on Planned Tax Cuts
Image Source: Daily News Era The UK government scrapped the proposed tax cuts, which included the proposed 45p income tax rate for those with higher incomes. The measures, which had only been proposed ten days prior, had been “a significant distraction on what was a great package,” according to Chancellor Kwasi Kwarteng, who spoke with […]
Pound sinks as investors question huge tax cuts
Image Source: USA Herald As financial markets reacted to the most significant tax cuts in 50 years, the pound dropped to a new 37-year low versus the dollar. UK stocks also fell after chancellor Kwasi Kwarteng announced a slew of economic and tax reforms as part of a major restructuring of the nation’s finances. The […]
Bangladesh cuts school hours to save power
Image Source: NY Times A government official said that to address an electrical shortfall, Bangladesh will cut back on office hours and close schools for an additional day each week. The South Asian country began daily, two-hour power outages last month. Following a more than 50% increase in gasoline prices by the government, protesters have […]
Sony Cuts Profit Estimation Following Games Business Decline
Photo: Time On Friday, Sony Group Corp cut its profit report following a frail first quarter for its PlayStation business, which it attributed to dwindling consumer interest because of an absence in new games and a moderating COVID-19 restrictions that dampens stay-at-home gaming. According to Sony, the business would pull support, but from its forthcoming […]
Gas prices soar as Russia cuts German Supply
Image Source: DW Due to Russia’s continued reduction of gas supply to Germany and other central European countries, gas prices have risen earlier this week’s warning to do so. Gasoline prices in Europe rose by almost 2% and are already close to the record high reached after Russia invaded Ukraine. Critics accuse the Russian government […]
