Salesforce to cut 10% of workforce after hiring “too many people”
Salesforce Inc said it plans to cut jobs by 10% and close some offices, after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown.
Oil falls again as worries grow over global economy, China COVID cases
Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID cases.
ECB to slow rate hikes and lay out plans to drain cash
The European Central Bank is set to raise interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, and lay out plans to drain cash from the financial system as it fights runaway inflation.
Analysis: Investors look to emerging markets as planets align for end of dollar bull market
As the U.S. dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback.
Analysis: Markets sigh with relief after Powell speech, but more turbulence likely ahead
A rally in U.S. stocks and bonds powered ahead after a speech by Federal Reserve Chairman Jerome Powell on Wednesday, but some investors believe a looming recession could cap gains in both asset classes.
Goldman Sachs promotes 80 people to elite partner rank
Goldman Sachs Group Inc promoted 80 bankers as partners of the storied Wall Street firm, up from 60 people in 2020, the company said in a statement on Wednesday.
Vodafone teams up with KKR and GIP in 16 billion euros towers deal
Vodafone has agreed to sell a major stake in its wireless infrastructure company Vantage Towers to GIP and KKR, creating a joint venture that will release proceeds of at least 3.2 billion euros ($3.2 billion) for the telecoms operator to pay down its debt.
Spain’s Iberdrola to invest $47 bln in energy transition in 2023-25
Spain’s Iberdrola will invest 47 billion euros ($47 billion) in electricity networks, renewable energy production and customer businesses over the next two years but protecting its balance sheet is a key focus, its chairman said on Wednesday.
Chipmaker TSMC plans Arizona factory expansion
TSMC, the world’s largest contract chipmaker and a major supplier to Apple Inc, said on Wednesday it was constructing a building that could serve as its second chip factory in Arizona in the United States.
European stocks hit six-week high, investors focus on Fed
European stocks rose in early trading on Tuesday, supported by speculation among investors that central banks could come to the end of their rate-hiking cycles.
