Business

Alphabet Inc., the parent company of Google, is eliminating around 12,000 employees due to “a changed economic reality,” according to an internal document. The company is doubling focus on artificial intelligence (AI) and eliminating personnel who support experimental initiatives. The job cutbacks impact 6% of its personnel and follow thousands of layoffs at internet heavyweights including as Amazon.com Inc, Microsoft …

According to Zobir Osman, managing director of construction firm Juru Wajar Sdn Bhd, the government’s statement that it would relax employment restrictions for foreign employees has rekindled optimism that the economy will recover. “Since the movement control order (MCO), it’s been difficult to get foreign employees,” he said, when he was met at a construction site in Kuala Lumpur. “On …

According to Dr Thani Al Zeyoudi, the Emirati Minister for Foreign Trade, the United Arab Emirates and India are in the early stages of negotiations to trade non-oil commodities in Indian rupees. India and the UAE recently signed a comprehensive free trade deal. China and India are two of the largest trading partners for Gulf Arab oil and gas producers, …

Reed Hastings, the creator of Netflix, announced his resignation as the company’s CEO on Thursday, January 19, 2022, concurrently with the release of Netflix’s financial report for the fourth quarter of 2022. Hastings co-founded the firm with entrepreneur Marc Randolph in 1997. Randolph tweeted that his seven years working with Hastings were the “highlight” of his more than four decades …

According to a story published on Wednesday by The Information, which cited a source familiar with the company’s ad business, more than 500 of Twitter’s advertisers have halted spending on the microblogging site since Elon Musk’s purchase of the company last year. According to the research, the social media company’s daily income on January 17 was forty percent lower than …

The streaming behemoth is seeking employees with “independent judgment, discretion, and great customer service abilities,” according to its job postings. Additionally, they must be able to “work with minimal instruction and a great deal of self-motivation.” Due to a decline in subscription counts, Netflix eliminated hundreds of positions in 2017. “Typically, the market range for this position is $60,000 to …

Microsoft Corporation said on January 16 that it is expanding access to OpenAI’s wildly popular software. OpenAI is a firm that Microsoft has invested in and its futuristic ChatGPT chatbot has enthralled Silicon Valley. Microsoft said that the startup’s technology, which it had previously demonstrated for its cloud-computing clients through a program called the Azure OpenAI Service, is now generally …

This week, financiers at the center of a $200 billion sector that supports airline fleets are gathering in Dublin, speculating that China’s decision to allow free travel could hasten their recovery from a pandemic recession while warning of a jet scarcity. Three years after the spread of COVID-19 stopped thousands of airliners, air travel demand is soaring again, encouraged by …

Tuesday, anti-corruption detectives in Indonesia detained the governor of Papua on suspicion of receiving bribes related to infrastructure projects in the restive eastern region, officials said. Authorities have accused Lukas Enembe, 55, of awarding construction contracts worth up to 40 billion rupiah ($2.57 million) between 2019 and 2021 to a business with less expertise in the industry. In September, he …

Pfizer Inc is not in discussions with Chinese authorities to license a generic version of its COVID-19 treatment Paxlovid for use in China, according to the company’s chief executive, Albert Bourla, on Monday, January 9. However, the company is in discussions about the price of the branded product, he said. Reuters reported on Friday that China was in negotiations with …