Stock / Global

Amazon deepens tech-sector gloom with another 9,000 layoffs

Amazon deepens tech-sector gloom with another 9,000 layoffs

Amazon on Monday said it would axe another 9,000 roles, piling on to a wave of layoffs that has swept the technology sector as an uncertain economy forces companies to get leaner. In a remarkable turn for a company that has long touted its job creation, Amazon will have eliminated 27,000 positions


Two major banks in Europe look to regulators for reassurance

Two major banks in Europe look to regulators for reassurance

At least two major banks in Europe are examining scenarios of contagion in the region's banking sector and are looking to the Federal Reserve and the ECB for stronger signals of support, two senior executives close to the discussions told Reuters. The fallout from the crisis of confidence in Credi

Beijing may allow foreign financial firms to list in China

Beijing may allow foreign financial firms to list in China

China will encourage foreign capital to participate in its financial markets and may allow foreign-funded financial institutions to go public in the country when "conditions are ripe", local media quoted a former finance minister as saying on Saturday. Such moves would be in line with the country'

Asian stocks higher after Wall St rebounds from bank jitters

Asian stocks higher after Wall St rebounds from bank jitters

Asian stock markets rebounded Wednesday after Wall Street stabilized following declines for bank stocks and US inflation eased but stayed high. Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices rose more than $1 per barrel, recovering some of the previous day's losses. Wall Street's benc

Global bank stock rout deepens as SVB collapse fans crisis fears

Global bank stock rout deepens as SVB collapse fans crisis fears

Shockwaves from the collapse of Silicon Valley Bank pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers did little to calm markets and prompted a rethink on the interest rate outlook. Biden's efforts to reassure markets and depositors came af

Novartis launches new $11 billion share buyback

Novartis launches new $11 billion share buyback

Novartis has formally launched its new share buyback programme where it could spend up to 10 billion Swiss francs ($10.90 billion) repurchasing its shares over the next three years. The Swiss company said it will buy a maximum of 10 per cent of its own stock over the period from its last Annual Ge

Europe’s lenders sucked into global banks rout

Europe’s lenders sucked into global banks rout

A dramatic sell-off in US bank stocks spilled over into Europe on Friday, as some of the region's biggest banks saw their shares tumble in their largest decline in nine months. Europe's STOXX banking index fell more than 4 per cent and was set for its biggest one-day slide since early June, with d

Taiwan's TSMC to recruit 6,000 engineers in 2023

Taiwan's TSMC to recruit 6,000 engineers in 2023

Taiwan Semiconductor Manufacturing Co Ltd (TSMC), the world's largest contract chipmaker, will recruit more than 6,000 new staff in 2023, the company said in a statement on Saturday. The hiring drive comes despite a global downturn in the chip industry. According to TSMC, the company will seek yo

Adani shares surge after GQG Partners invests $1.87b

Adani shares surge after GQG Partners invests $1.87b

Four firms under India's embattled Adani Group saw their share prices surge on Friday after global investor GQG Partners bought stakes for $1.87 billion, allaying concern about Adani's ability to attract funds. The stake purchases comprised the first major investment in billionaire Gautam Adani's

GM cutting hundreds of jobs to reduce costs

GM cutting hundreds of jobs to reduce costs

General Motors Co is cutting hundreds of executive-level and salaried jobs as it looks to cut costs and streamline operations, a person briefed on the matter told Reuters news agency on Tuesday. The global reductions are in the "low hundreds," the person said. GM Chief People Officer Arden Hoffma

Adani saga spotlight shifts to Indian regulator

Adani saga spotlight shifts to Indian regulator

India's market regulator is set to brief the federal government on its investigation into Adani group's shelved share sale, two sources said, thrusting the watchdog into the limelight in a week when its laws also face scrutiny by the nation's top court. The upheaval in the Indian conglomerate trig