Microsoft will lay off 10,000 workers, about five per cent of its total workforce, its CEO Satya Nadella announced on Wednesday, terming it a hard choice that the tech giant had to make to remain a “consequential company” amid global economic uncertainties. Microsoft is the latest company after Facebook and Amazon to cut jobs as the bloodbath continues in the […]

It was only a matter of time before the rapid growth of Phoenix collided with its low water supply. In 2012, Phoenix had 3.8 million residents. Last year, it had almost 4.7 million. The number is expected to continue to increase quickly. In the meantime, Phoenix averages only nine inches of rain a year, and much of its water comes […]

European stocks opened higher on Wednesday, as optimism surrounding China’s reopening offset lingering worries about slowing global growth and interest rates staying high for a longer period. After Fed Chair Jerome Powell refrained from commenting on rate policy at a symposium, investors now await the release of U.S. inflation data on Thursday for additional clues on the rate outlook. The […]

Using data from Transiting Exoplanet Survey Satellite, NASA’s scientists have discovered a new Earth-size planet, called TOI 700 e. It is orbiting within the habitable zone of its star – the range of distances where liquid water could occur on a planet’s surface. The new world is 95 percent the size of Earth and likely rocky, according to NASA. Astronomers […]

America’s Funniest Home Videos creator Vin Di Bona has sold a majority stake in his eponymous production company and FishBowl Worldwide Media to an investor group led by Clarion Capital Partners. Di Bona is remaining CEO of both companies, which will be key components of Clarion-backed entity V10 Entertainment. V10 is led by CEO John Stevens, who founded Zoo Productions […]

EXCLUSIVE: Award-winning documentary filmmaker Lysa Heslov (Served Like a Girl) has signed with Gersh, also announcing that she’ll soon make her narrative feature directorial debut with Reinhard Denke’s 2009 Black List script, Sex, Greed, Money, Murder and Chicken Fried Steak. The film is based on a true-crime story billed as the most notorious and shocking ever to come out of […]

Shareholders were upset when Tesla dropped the price of its cars sharply. They assumed Tesla’s sales were in trouble. However, others assumed that the move would trigger a new surge in sales. Enough people viewed the situation in this way that new Tesla competitors took a savage beating in the stock market. None took a hammering worse than Ford, which […]

U.S. stocks failed to hold gains and ended on a mixed note on Monday as the mood turned cautious past mid afternoon after some Fed officials said the central bank will have to keep raising rates. Technology stocks outperformed as bond yield dropped amid bets the Federal Reserve will slow its pace of policy tightening after data showed a drop […]

Shares of e-commerce giant Alibaba Group gained in Hong Kong trading as well as in pre-market activity on the NYSE following the announcement that Jack Ma, its co-founder, and executive chairman, is giving up control of its sister concern Ant Group Co., Ltd. Ma, who also founded Ant Group, currently controls nearly 53 percent of the fintech major through his […]