Business

On Monday, February 6, image-sharing site Pinterest Inc reported quarterly revenue below expectations, joining competitors Alphabet and Snap in sounding the alarm on a still-weak ad market. Shares of the business, which forecasted a modest increase in revenue for the first quarter, pared losses and were down 3% in extended trade after plummeting 15%. High inflation and aggressive interest rate …

The school dropout who became one of the world’s wealthiest men, India’s Gautam Adani, suffered a surprise loss when his flagship firm canceled a blockbuster share sale in response to an assault by a small US investment firm over his business practices. The decision was made after Adani’s enterprises lost about $86 billion on the stock market as investors fled …

Apple predicted on Thursday, February 2, that revenue would decline for a second consecutive quarter, but that iPhone sales would likely increase as production in China returned to normal following COVID-related shutdowns. While expressing optimism over sales of services and iPhones, Tim Cook, CEO of Apple, predicted that an uncertain economy would negatively impact gaming and digital advertising. Apple’s management …

On Saturday, February 4, only, the Japan Home Centre (JHC) in the Philippines will take the rare and pricey sibuya (onion) as payment for select in-store purchases. In a Facebook post published on February 2, the retailer announced the launch of its first “pay with sibuyas” promotion, in which they will accept one onion in return for the customer’s desired …

According to a report by Bloomberg News on Wednesday, February 1, Pinterest Inc. will lay off approximately 150 employees, which accounts for less than 5% of the company’s total workforce. In doing so, Pinterest will join a flurry of other technology companies that are firing workers in order to cut costs. According to the story, which cited an individual who …

Many Indians tweeted their support for Gautam Adani on January 31, as the school dropout-turned-billionaire closed a $2.5 billion share sale despite criticism from an American short-seller. IndiaStandsWithAdani was among the top trending hashtags on Twitter in response to Adani Group stock losses of $65 billion since last week’s Hindenburg Research study, which raised worries regarding the company’s debt levels …

Intel Corp announced on January 31 that it has significantly reduced employee and management compensation, one week after issuing a lower-than-anticipated sales projection due to a loss of market share to competitors and a decline in the PC market. The cutbacks would range from 5% of basic salary for mid-level staff to as much as 25% for the company’s chief …

Hong Kong outlawed cannabidiol (CBD), a derivative of cannabis, as a “dangerous narcotic” on February 1 and imposed severe penalties for its use, forcing new enterprises to close or restructure. CBD, which is produced from the cannabis plant, is said to alleviate stress and inflammation without intoxicating its users, unlike its more well-known cousin tetrahydrocannabinol (THC), the psychoactive component of …

According to a report that was published by Bloomberg News on January 29, 2019, which cited people with knowledge of the matter, the India unit of Apple-supplier Jabil Inc. has started manufacturing components for AirPods in the country, and the company is shipping plastic bodies or enclosures for AirPods to China and Vietnam. A request for comment from Reuters was …

Cebu Pacific anticipates restoring “100% pre-COVID systemwide capacity” by March, but the low-cost carrier cautioned it may take many years for the tourism industry to return to previous levels. We have been cautiously hopeful for the past twenty-four months. President and chief commercial officer Xander Lao stated at a January 25 media event, “We’re extremely enthusiastic for 2023, given that …