American multinational technology company, Amazon is reportedly undergoing a comprehensive review of its business units in an effort to identify areas it needs to prune workers from.
As FTX tries to survive a difficult time, CEO Sam Bankman-Fried is seeking to raise a rescue package of up to $9.4 million to help the situation.
As the inflation data showed some relief, innovation stocks rallied hard pushing up the ARKK Innovation ETF to its biggest single-day gains.
As inflation data cooled down the markets reacted with a very strong rally. Ath the same time, the Treasury Yields also plunged.
The data has sent a positive signal to investors that inflation in the US has peaked, a good development for the broader economy.
The massive liquidity crisis at the FTX exchange has prompted calls for clear regulations in the US crypto market.
E-commerce giant Amazon becomes the first publicly-traded company to lose $1 trillion in stock value amid economic recession.
Foxconn’s major production base in central China, with around 200,000 employees, is currently not operating.
Binance backs out of the FTX deal citing concerns over the mishandling of customers’ funds by FTX and alleged US agency investigations. The Crypto market loses another $100 billion.
Tesla share’s value was expected to decline following the sustained cryptocurrency crash in the past few months.
RBC Capital Markets experts believe that the staff layoff is not the solution to the numerous challenges the company is currently facing.
Adidas reduced its expectations for the full-year traffic trend decline in Greater China.
Following its purchase of Coinbase stock at the end of October, Ark Invest has added an additional 420,949 units of COIN.
Meta is not the only tech firm that has announced layoffs or is contemplating the same.
Following his takeover of Twitter, Elon Musk has sold 19.5 million more Twitter shares worth $3.95 billion.