January 5, 2023 9:38 am
Staff layoffs at Amazon.com Inc (AMZN) will probably exceed 18,000 roles as part of a previously announced workforce reduction, the company’s Chief Executive Officer Andy Jassy said in a public staff note dated January 4th. The layoffs represent about 6% of Amazon’s corporate workforce and will be initiated on January 18th. Cuts will largely affect […]
Read moreJanuary 4, 2023 1:16 pm
Salesforce Inc on Wednesday announced a restructuring plan, aimed at reducing operating costs and improving operating margins, which also includes current workforce reduction by about 10%. “As our revenue accelerated through the pandemic, we hired too many people leading into this economic downturn we’re now facing, and I take responsibility for that,” Salesforce’s co-CEO Marc […]
Read moreJanuary 4, 2023 11:07 am
Renasant Bank, the wholly-owned subsidiary of Renasant Corp, has acquired Republic Business Credit in an all-cash deal, effective December 30th 2022. However, financial terms of the agreement were not disclosed. Republic Business Credit will operate as a separate subsidiary of Renasant Bank and under its existing brand name, Renasant Corp said. Republic Business Credit’s current […]
Read moreJanuary 3, 2023 12:15 pm
According to a report by German daily Boersen-Zeitung, Deutsche Bank (DBKGn) will stick with its restructuring targets and retain its forecasts until 2025, despite risks stemming from the war in Ukraine, persistently high inflation and recession. “We want to achieve a post-tax return on tangible equity of more than 10% and reduce the cost-to-income ratio […]
Read moreJanuary 3, 2023 11:01 am
USD/JPY registered a fresh seven-month low on Tuesday, as the Japanese currency was underpinned by expectations that the Bank of Japan could exit its ultra-accommodative monetary policy. Last month, the BoJ introduced a shift in its policy, while allowing Japan’s 10-year government bond yields to move 50 basis points in either direction from the bank’s […]
Read moreDecember 30, 2022 1:59 pm
Heidrick & Struggles, a provider of global leadership advisory and on-demand talent solutions, said earlier this week it had agreed to acquire Atreus, a leading player for executive interim management in Germany. The acquisition is to build on Heidrick & Struggles’ position as a leader in the on-demand talent sector by expanding this offering into […]
Read moreDecember 30, 2022 10:35 am
London-based private equity company BC Partners said this week it had agreed to acquire a majority stake in Madison Logic, which provides business-to-business digital marketing services. BC Partners will acquire Madison Logic from Clarion Capital Partners, it said, but no financial terms of the agreement were disclosed. After the acquisition closes, executives from Clarion Capital […]
Read moreDecember 29, 2022 11:44 am
Honda Motor Co Ltd intends to recall a bit over 200,000 China-produced hybrid vehicles after reports of issues with brake pedal sensors in some models. The recall will cover 105,608 hybrid vehicles produced between October 8th 2018 and September 7th 2020 by Honda’s joint venture with Dongfeng Motor Group Co as well as 95,081 vehicles […]
Read moreDecember 29, 2022 10:13 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior two trading days on Thursday, as spiking new COVID-19 infections in China dampened fuel demand outlook for the biggest oil importer globally. The scale of the latest COVID outbreak across the Asian nation caused some countries to put in place new travel […]
Read moreDecember 23, 2022 10:32 am
Stellantis (STLA), the third-largest auto maker globally, has begun exclusive talks with Faurecia and Michelin to acquire a “substantial” stake in their joint venture, Symbio, a fuel cell system manufacturer for hydrogen mobility. Last year, Stellantis introduced hydrogen-powered mid-size vans and announced plans to bring its hydrogen offer to large-size vans in Europe in 2024 […]
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