Business

Ford Motor is cutting nearly 3,000 jobs from its global workforce, as the automaker seeks to reduce costs as part of restructuring efforts under CEO Jim Farley. A company spokesperson confirmed that Ford began notifying employees about the cuts on Monday. The cuts are for 2,000 salaried positions and 1,000 ...

According to the Chief Economist of Hang Seng Bank China, China is currently in the grip of a devastating heatwave, which could have a serious impact on its economy. China is facing record-breaking heatwaves and power shortages in the Yangtze River region. Extreme temperatures have inhibited crop growth and put ...

The retail conglomerate Authentic Brands Group, which owns brands including Reebok, Forever 21, and Juicy Couture, has signed a deal to buy UK fashion chain Ted Baker for US$ 254 million. The deal price represents a premium of approximately 18% to Ted Baker’s closing price on Monday. The company is ...

Axios company announced on Monday, that it is being acquired by Cox Enterprises to expand the digital news site’s coverage to include more cities. According to information shared by people familiar with the matter, the deal is valued at Axios at $525 million. The company shared the information in a ...

USA – Mortgage demand fell more than 6% over the past week, hitting its lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applying for a mortgage to buy a house fell 7% for the week and was down 19% compared to the same week in ...

Employees of the company have been furious after Tesla company owner Elon Musk ended a $44 billion Twitter deal. Many employees have taken out a lot of anger on social media. Some employees accused Musk of taking steps to reduce the purchase price, while some accused them of cheating. Let ...

Volkswagen and its allies will invest more than USD 20 billion in the battery cell business, creating 20,000 jobs and aiming for more than USD 20 billion in annual sales by 2030 as it seeks to beat US rival Tesla which is leading the market. VW’s PowerCo unit will manage ...

In the latest move among drug manufacturing firms to establish dosage-form drug production services, Lonza says it is planning to invest $500 million to build a commercial-scale fill-and-finish facility for biologic drugs at a site in Stein, Switzerland. Lonza is one of the major pharmaceutical services firms and a leader ...

Russia – McDonald’s is also among the companies that have closed their business in Russia due to sanctions imposed due to the Ukraine war. But now once again the people of Russia are enjoying burgers and other food like McDonald’s. On Sunday, 15 McDonald’s restaurants opened with a new brand ...

Billionaire businesswoman Sheryl Sandberg has resigned as the COO (Chief Operating Officer) of Facebook’s parent company Meta. She was working for the social media company Facebook for 14 years. She was the second-highest executive officer after Facebook founder Mark Zuckerberg. Sheryl has resigned from Facebook at a time when the growth of ...