U.s. Technology Sector

Microsoft Corp said on Wednesday it would cut 10,000 jobs by the end of third quarter of fiscal 2023, the latest sign that layoffs were accelerating in the U.S. technology sector as companies brace for an economic downturn.

As part of its plan to cut 18,000 jobs company-wide, Amazon will be laying off employees in the US, Canada, and Costa Rica by the end of Wednesday. The layoffs are the latest in the U.S. technology sector, with companies cutting their bloated workforce and slashing costs to reverse pandemic-era excesses and prepare for a worsening global economy.

Microsoft Corp said on Wednesday it would cut 10,000 jobs by the end of third quarter of fiscal 2023, the latest sign that layoffs were accelerating in the U.S. technology sector as companies brace for an economic downturn.

A bipartisan group of governors from nine states sent a letter on Wednesday to U.S. lawmakers urging them to pass subsidies for semiconductor factories that would produce chips for cars.

Overnight, U.S. stock indexes closed higher, with the biggest boost coming from the technology and healthcare sectors; the Dow Jones rose 0.56 per cent and Nasdaq Composite added 0.71 per cent.

U.S. stock indexes closed higher on Tuesday, with the biggest boostcoming from technology and healthcare sectors; the Dow Jones rose 0.56 per cent and Nasdaq Composite added 0.71 per cent

One of the U.S. auto industry's youngest and highest-ranking executives, General Motors Co's chief financial officer Dhivya Suryadevara, jumped ship on Tuesday for Silicon Valley and the technology sector, where she was named CFO of Stripe, the online payments startup.

The founder of China's largest chipmaker SMIC said on Tuesday he was "optimistic" China could catch up with the United States in the next generation of semiconductors but that U.S. efforts to contain its technology sector could not be taken "lightly".

Companies working on self-driving vehicles have criticized an insurance industry study suggesting that only a third of all U.S. road crashes could be prevented by driverless cars, arguing that the study has underestimated the technology's capabilities. The study by the Insurance Institute for Highway Safety (IIHS), released on Thursday analyzed 5,0...

The new way foreign worker visas are doled out in the U.S. is poised to benefit some of the biggest technology companies, like Alphabet Inc., Microsoft Corp. and Facebook Inc., while punishing outsourcing firms that developed a disproportionate dependence on the program.

Automation and the new U.S. administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market.

Sentiment was also hit by a slide in global shares as steep falls in U.S. technology and biotechnology stocks spread to other sectors and regions.

India's second largest computer services exporter, once seen as a bellwether for India's $108 billion IT industry, derives 62 per cent of revenues from North America, a larger share than competitors Tata Consultancy Services, HCL Technologies and Wipro.

U.S. stocks rose on Wednesday, bolstered by the financial and technology sectors, and were set to scale fresh highs as a rally kept going for a fifth consecutive session.

Microsoft Corp said on Wednesday it would cut 10,000 jobs by the end of third quarter of fiscal 2023, the latest sign that layoffs were accelerating in the U.S. technology sector as companies brace for an economic downturn.

As part of its plan to cut 18,000 jobs company-wide, Amazon will be laying off employees in the US, Canada, and Costa Rica by the end of Wednesday. The layoffs are the latest in the U.S. technology sector, with companies cutting their bloated workforce and slashing costs to reverse pandemic-era excesses and prepare for a worsening global economy.

Microsoft Corp said on Wednesday it would cut 10,000 jobs by the end of third quarter of fiscal 2023, the latest sign that layoffs were accelerating in the U.S. technology sector as companies brace for an economic downturn.

A bipartisan group of governors from nine states sent a letter on Wednesday to U.S. lawmakers urging them to pass subsidies for semiconductor factories that would produce chips for cars.

Overnight, U.S. stock indexes closed higher, with the biggest boost coming from the technology and healthcare sectors; the Dow Jones rose 0.56 per cent and Nasdaq Composite added 0.71 per cent.

U.S. stock indexes closed higher on Tuesday, with the biggest boostcoming from technology and healthcare sectors; the Dow Jones rose 0.56 per cent and Nasdaq Composite added 0.71 per cent

One of the U.S. auto industry's youngest and highest-ranking executives, General Motors Co's chief financial officer Dhivya Suryadevara, jumped ship on Tuesday for Silicon Valley and the technology sector, where she was named CFO of Stripe, the online payments startup.

The founder of China's largest chipmaker SMIC said on Tuesday he was "optimistic" China could catch up with the United States in the next generation of semiconductors but that U.S. efforts to contain its technology sector could not be taken "lightly".

Companies working on self-driving vehicles have criticized an insurance industry study suggesting that only a third of all U.S. road crashes could be prevented by driverless cars, arguing that the study has underestimated the technology's capabilities. The study by the Insurance Institute for Highway Safety (IIHS), released on Thursday analyzed 5,0...

The new way foreign worker visas are doled out in the U.S. is poised to benefit some of the biggest technology companies, like Alphabet Inc., Microsoft Corp. and Facebook Inc., while punishing outsourcing firms that developed a disproportionate dependence on the program.

Automation and the new U.S. administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market.

Sentiment was also hit by a slide in global shares as steep falls in U.S. technology and biotechnology stocks spread to other sectors and regions.

India's second largest computer services exporter, once seen as a bellwether for India's $108 billion IT industry, derives 62 per cent of revenues from North America, a larger share than competitors Tata Consultancy Services, HCL Technologies and Wipro.

U.S. stocks rose on Wednesday, bolstered by the financial and technology sectors, and were set to scale fresh highs as a rally kept going for a fifth consecutive session.