Economic Downturn

Young professionals in China are increasingly opting for "naked resignation," quitting jobs without backup plans, challenging traditional career norms.

Cloud storage provider Dropbox said on Thursday it would reduce its global workforce by 16 percent to cut costs amid slowing cloud growth, and instead hire new talent to build its AI offerings. Dropbox's chief executive officer, Drew Houston, said the company's core cloud business growth was slowing as challenges from the economic downturn put pr...

The tech sector has had a tough time recently with the prevailing economic downturn hitting all the big companies. Amazon, Microsoft, Meta, and Alphabet have all announced layoffs in the thousands to cut their losses. While these tech giants are tightening up on fringe benefits and showing their talent the door, there is still more to do.

Samsung's quarterly profit is expected to fall 58 percent amid the ongoing global economic downturn, to its lowest point in six years, according to analysts. The prediction comes amid reduced spending by consumers and businesses during a period of high inflation and escalating interest rates. Samsung is expected to announce preliminary results on F...

Despite the ongoing slump in the crypto market, industry analysts are optimistic that this downturn has filtered out shaky and evidently risky firms from the already volatile industry, Circle CSO Dante Disparte said in a recent post for the World Economic Forum (WEF).

Elon Musk on Tuesday said that Twitter Blue, the company's subscription service would be relaunched on November 29. The company's new CEO had previously stated that he expected to release the paid verification service by the end of this week, but said the release date would be 'punted' to make sure that it was 'rock solid', in a tweet.

Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.

Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.

Suniel Shetty said that India's population and its aspirations still present good businesses with a huge opportunity to continue their growth.

Meta CEO Mark Zuckerberg has reportedly informed the company's employees during a weekly all-hands meeting that the company will freeze hiring to cut costs, amid rough economic conditions, according to a report by The Wall Street Journal that states the company wants to cut expenses by at least 10 percent. Back in July, Zuckerberg reportedly told e...

Tencent on Wednesday reported a drop in revenue to CNY 134 billion (roughly Rs. 1,57,000 crore) in the second quarter, compared to the year before. In the first drio in revenue since the company went public, the firm said profits plunged by 56 percent to CNY 18.6 billion (roughly Rs. 21,800 crore). Tencent also cut around 5,500 jobs down to 110,71...

Oil prices dropped again on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week to determine whether to increase supply.

Facebook has announced it has ended funding for its US news partnerships program, that was launched in 2019. In order to reallocate resources amid the economic downturn and changing user behaviour, the Meta-owned company said it will no longer pay news organisations in the US for material that appears on its News Tab.  

President Joe Biden said Monday he does not expect the United States suffer an economic downturn, although GDP figures due later this week may show the economy shrinking for a second consecutive quarter.

Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors' risk appetite.

Young professionals in China are increasingly opting for "naked resignation," quitting jobs without backup plans, challenging traditional career norms.

Cloud storage provider Dropbox said on Thursday it would reduce its global workforce by 16 percent to cut costs amid slowing cloud growth, and instead hire new talent to build its AI offerings. Dropbox's chief executive officer, Drew Houston, said the company's core cloud business growth was slowing as challenges from the economic downturn put pr...

The tech sector has had a tough time recently with the prevailing economic downturn hitting all the big companies. Amazon, Microsoft, Meta, and Alphabet have all announced layoffs in the thousands to cut their losses. While these tech giants are tightening up on fringe benefits and showing their talent the door, there is still more to do.

Samsung's quarterly profit is expected to fall 58 percent amid the ongoing global economic downturn, to its lowest point in six years, according to analysts. The prediction comes amid reduced spending by consumers and businesses during a period of high inflation and escalating interest rates. Samsung is expected to announce preliminary results on F...

Despite the ongoing slump in the crypto market, industry analysts are optimistic that this downturn has filtered out shaky and evidently risky firms from the already volatile industry, Circle CSO Dante Disparte said in a recent post for the World Economic Forum (WEF).

Elon Musk on Tuesday said that Twitter Blue, the company's subscription service would be relaunched on November 29. The company's new CEO had previously stated that he expected to release the paid verification service by the end of this week, but said the release date would be 'punted' to make sure that it was 'rock solid', in a tweet.

Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.

Rishi Sunak will become Britain's next prime minister after he won the race to lead the Conservative Party, leaving him with the task of steering a deeply divided country through an economic downturn set to leave millions of people poorer.

Suniel Shetty said that India's population and its aspirations still present good businesses with a huge opportunity to continue their growth.

Meta CEO Mark Zuckerberg has reportedly informed the company's employees during a weekly all-hands meeting that the company will freeze hiring to cut costs, amid rough economic conditions, according to a report by The Wall Street Journal that states the company wants to cut expenses by at least 10 percent. Back in July, Zuckerberg reportedly told e...

Tencent on Wednesday reported a drop in revenue to CNY 134 billion (roughly Rs. 1,57,000 crore) in the second quarter, compared to the year before. In the first drio in revenue since the company went public, the firm said profits plunged by 56 percent to CNY 18.6 billion (roughly Rs. 21,800 crore). Tencent also cut around 5,500 jobs down to 110,71...

Oil prices dropped again on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week to determine whether to increase supply.

Facebook has announced it has ended funding for its US news partnerships program, that was launched in 2019. In order to reallocate resources amid the economic downturn and changing user behaviour, the Meta-owned company said it will no longer pay news organisations in the US for material that appears on its News Tab.  

President Joe Biden said Monday he does not expect the United States suffer an economic downturn, although GDP figures due later this week may show the economy shrinking for a second consecutive quarter.

Asian stocks lost ground on Monday, retreating from over three-week highs as worries about a global economic downturn sapped investors' risk appetite.