By Catherine Thorbecke, CNN Salesforce said Wednesday that it will cut approximately 10% of its workforce and reduce its real estate footprint, making it the latest tech company to slash expenses as broader economic uncertainty continues to hit Silicon Valley particularly hard. In a letter to employees announcing the job cuts, Marc Benioff, Salesforce’s chair
Continue Reading By Anna Cooban, CNN European stocks are pushing higher for the third straight day as investors cheer signs that inflation, supply chain bottlenecks and natural gas prices are all easing Europe’s Stoxx 600 index rose 1% in Wednesday trading, and is now up 3.3% since markets kicked off 2023 trading on Monday. Germany’s DAX rose
Continue Reading By Hanna Ziady, CNN Aldi recorded its highest-ever December sales in the United Kingdom, as shoppers squeezed by searing food price inflation flocked to the German discount supermarket chain to save money on groceries. Sales topped £1.4 billion ($1.7 billion) for the first time, up 26% year on year, with the FIFA World Cup also
Continue Reading By Paul R. La Monica, CNN Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. Most notable? Concerns about the increasingly chaotic geopolitical landscape. “Inflation shockwaves” still feature as one of Eurasia’s top political
Continue Reading By Paul R. La Monica, CNN Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. Most notable? Concerns about the increasingly chaotic geopolitical landscape. “Inflation shockwaves” still feature as one of Eurasia’s top political
Continue Reading By Oliver Darcy, CNN Business “Sports is important. And suddenly it’s not.” Those were the salient words of “SportsCenter” host Scott Van Pelt Monday night after Damar Hamlin suddenly collapsed on the field during the high stakes Bills-Bengals game. Within moments, Van Pelt knew that the injury was very different than those normally sustained on
Continue Reading By Nathaniel Meyersohn, CNN Skip Bayless spent a third straight day defending his controversial tweet about Buffalo Bills safety Damar Hamlin, this time during a tense exchange Wednesday with his Fox Sports talk show co-host Shannon Sharpe. Sharpe, a former NFL player and member of the NFL Hall of Fame, returned to the duo’s talk
Continue Reading By Laura He, CNN Tesla’s China chief has reportedly been given a big promotion. Tom Zhu has been handed Tesla’s US assembly plants and sales operations in North America and Europe as additional responsibilities, leaving just the Berlin Gigafactory outside his remit, according to media reports on Tuesday. The reports have intensified speculation that China-born
Continue Reading By Emiko Jozuka and Jessie Yeung, CNN Japan is offering to pay families to move out of its overcrowded capital, in an effort to revitalize countryside towns and boost the falling birth rate. Starting in April, families in the Tokyo metropolitan area, including those headed by single parents, will be eligible to receive 1 million
Continue Reading By Swati Gupta and Rhea Mogul, CNN Angry crowds gathered in Delhi on Tuesday, demanding justice for a scooter rider who was killed and dragged by a car for miles through the streets of India’s capital. Delhi police said the 20-year-old woman’s scooter collided with the car in the early hours of January 1 before
Continue Reading Sophia Saifi and Diksha Madhok Pakistan’s economic woes show no signs of letting up in 2023. The South Asian nation announced a new energy conservation plan Tuesday as its fragile economy continues to struggle with multiple challenges. The government has ordered all markets to close by 8.30 pm and restaurants by 10 pm, according to
Continue Reading By Nathaniel Meyersohn, CNN Business Victoria’s Secret brand CEO Amy Hauk has resigned less than a year into the job, the company said Tuesday. Hauk, who was also CEO of the company’s Pink apparel brand geared to teens, notified the company of her resignation last week, the company said. She will leave Victoria’s Secret in
Continue Reading By Jennifer Korn and Catherine Thorbecke, CNN Developers at a Microsoft-owned gaming studio voted on Tuesday to form the first ever US union at the tech giant, in a milestone moment both for the company and the video game industry. Some 300 quality assurance workers at Microsoft’s ZeniMax Studios voted to unionize with the Communications
Continue Reading By Jennifer Korn and Catherine Thorbecke, CNN Developers at a Microsoft-owned gaming studio voted on Tuesday to form the first ever US union at the tech giant, in a milestone moment both for the company and the video game industry. Some 300 quality assurance workers at Microsoft’s ZeniMax Studios voted to unionize with the Communications
Continue Reading By Brian Fung, CNN A commercial landlord is suing Twitter for breach of contract after the company allegedly failed to pay rent for one of its offices in San Francisco. The lawsuit concerns Twitter’s office space at 650 California Street, not its main headquarters on Market Street. But it comes after media reports last month
Continue Reading By Samantha Murphy Kelly, CNN Business Apple’s market cap fell below $2 trillion in trading Tuesday for the first time since early 2021 and one year to the day after the company became the first public tech company valued at $3 trillion. Shares of Apple ended Tuesday down nearly 4% after a report raised concerns
Continue Reading By Matt Egan, CNN Many CEOs, investors and consumers are worried about a recession in 2023. But Moody’s Analytics says the more likely scenario is a “slowcession,” where growth grinds to a near halt but a full economic downturn is narrowly avoided. “Under almost any scenario, the economy is set to have a difficult 2023,”
Continue Reading By Jennifer Korn One tech company is trying to help its employees kick off the new year with a clean slate, or at least an emptier calendar. In a memo to employees Tuesday, Shopify said it would do away with all previously scheduled recurring meetings involving three or more people and impose a “two-week cooling
Continue Reading By Jordan Valinsky, CNN Business “The View” returned from its holiday hiatus to pay tribute to its creator, Barbara Walters, who died last week at 93 years old. Whoopi Goldberg began the show saying tributes were “pouring in from around the world” to celebrate Walters’ life and legacy. “The reason why we’re all sitting here,
Continue Reading By Jordan Valinsky, CNN Business “The View” returned from its holiday hiatus to pay tribute to its creator, Barbara Walters, who died last week at 93 years old. Whoopi Goldberg began the show saying tributes were “pouring in from around the world” to celebrate Walters’ life and legacy. “The reason why we’re all sitting here,
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