Policymakers at the European Central Bank feared that inflation was becoming entrenched at their most recent policy meeting, so rates would need to rise further, according to meeting accounts released on Thursday. The ECB raised interest rates by 75 basis points to 1.5% at the meeting to combat sky-high inflation, bringing its total hikes since…
Are you put off by Elon Musk’s commanding management style? Come with us! That’s the pitch being used by talent-starved technology firms to entice thousands of former Twitter employees who were laid off by the social media company’s new owner. Following Musk’s tumultuous takeover of the social media platform, Twitter has fired top executives and…
Some Google employees are concerned that they will be the next victims of industry-wide layoffs. While Google has so far avoided the widespread job cuts that have afflicted other tech companies, particularly those bolstered by a slumping ad market, internal anxiety is rising, according to documents obtained by CNBC and employees who spoke on the…
Elon Musk accused leaders of major civil rights organizations of breaking an accord with him by inspiring companies to stop advertising on Twitter. Such accusations have however been denied by the civil rights organizations. On Tuesday, Musk had tweeted, “a large coalition of political/social activist groups agreed not to try to kill Twitter by starving us…
The company that intends to take Trump Media and Technology Group and its Truth Social platform public has said that shareholders voted to postpone be a number of months a deadline for its merger with the former president’s firm. Following a brief shareholder meeting to announce the delay, Digital World Acquisition Corp. shares closed more than 5%…
According to six sources with direct knowledge of the situation, Chinese authorities are preparing to levy a fine of more than $1 billion on Jack Ma’s Ant Group, putting an end to the fintech company’s two-year regulatory overhaul. According to five of the sources, the regulator preparing the fine is the People’s Bank of China…
Best Buy Co Inc forecasted a smaller drop in annual sales than previously estimated on Tuesday, saying it was confident that an increase in deals and discounts would attract more inflation-weary customers during the holiday season. In premarket trading, the retailer’s stock rose 8% to $76.60 after the company announced that it had resumed its…
The latest British supermarket chain that has decided to ration eggs due to supply issues is Tesco. Customers are now limited to purchasing three boxes of eggs at the checkout due to rising costs for poultry farmers and an avian flu outbreak. Following in the footsteps of Asda and Lidl, Britain’s largest supermarket chain, Tesco…
A human rights activist is suing Facebook’s owner in the Supreme Court, alleging that the company is violating her right to object to the collection of her personal data. Tanya O’Carroll has sued Mark Zuckerberg’s Meta, alleging that it violated UK data laws by failing to respect her right to request that Facebook stop collecting…
According to the CEO of Tata Group-owned Air India on Saturday, the airline is in discussions with Boeing and Airbus about placing an order for new aircraft while also repairing grounded aircraft and leasing aircraft to meet its immediate needs. The autos-to-steel conglomerate, which completed the acquisition of Air India in January, faces a difficult…
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