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Thursday, January 26, 2023
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BUSINESS

Toyota CEO Akio Toyoda to step aside and become chairman

Toyota’s chief executive officer and president, Akio Toyodo, will become its chairman. He will be replaced as CEO by the car maker’s chief branding officer...

Spotify becomes latest tech giant to cut jobs, with 6% of workforce to be shed

Music streaming service Spotify has said it is cutting 6 per cent of its global workforce, becoming the latest tech company to resort to...

Elon Musk in court to defend Tesla buyout tweet in civil case

Elon Musk was summoned to court on Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private...

Elon Musk in court to defend Tesla buyout tweet in civil case

Elon Musk was summoned to court on Friday to defend a 2018 tweet claiming he had lined up the financing to take Tesla private...

Microsoft to axe 10,000 jobs worldwide

Microsoft is cutting 10,000 workers – almost 5% of its global workforce – in response to “macroeconomic conditions and changing customer priorities”. The technology giant...

Yellen tells Congress US expected to hit debt limit next week

Treasury Secretary Janet Yellen has notified Congress that the US is projected to reach its debt limit on Thursday and will then resort to...

Bank of Japan loosens bond yield cap in surprise move

The Bank of Japan has broadened caps for government bond yields, a surprise move that pushed bond yields higher globally and hit stocks in...

Amazon to make big business changes in EU settlement

Amazon has agreed to make major changes to its business practices to settle antitrust investigations that found the ecommerce giant gave itself an unfair...

Wells Fargo to pay $3.7bn over consumer loan violations

Consumer banking giant Wells Fargo has been ordered to pay $3.7 billion in fines and refunds to customers by US government regulators, the largest...

FTX founder expected to drop fight against extradition to US

Sam Bankman-Fried arrived at a courthouse in the Bahamas on Monday and is expected to tell a judge he will not fight extradition to...

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