Shopify Inc, a Canadian e-commerce giant, has decided to cut jobs and sell its majority stake in its logistics business to Flexport Inc. to focus on its core e-commerce business, media reports said on Thursday.

Shopify's slim-down strategy: Cutting costs, selling logistics arm to bulk up e-commerce profits

The Federal Reserve rate hike on Wednesday led to a deep selloff in US regional banks on Thursday. Stocks of US regional lenders such as Western Alliance and Pacific West dropped over 60 percent before recouping some losses.

US bank rout rages on: Regional banks extend losses after Fed rate hikes

Microsoft announced on Wednesday that it will not provide salary increases for its full-time employees this year. Microsoft CEO Satya Nadella cited global macroeconomic uncertainties and a major push towards artificial intelligence (AI) to justify his move to freeze employee salaries.

In AI era, Microsoft holds the purse strings: Salaries frozen but bonuses remain

Saudi Arabia, the world biggest oil producer, grew slower in the first quarter of 2023 compared to the last quarter. According to the latest Saudi government data, the economy grew by 3.

Saudi Arabia's economy grew slower in 2023 but non-oil sector got a boost

South Asia and Latin America are the new trump cards for tech giant Apple, as it looks to boost its growth amid an economic slowdown in China and the United States.

Apple CEO Tim Cook bets on India, other emerging markets for higher sales

The Federal Reserve has warned that the recent banking turmoil in the U.S. could trigger a credit crunch, posing a risk to the economy. According to the Fed's Senior Loan Officer Opinion Survey, banks are anticipating stricter lending standards for the remaining part of 2023 due to worries about a recession and deposit outflows triggered by Silicon Valley Bank's failure.

Banks brace for impact: US Fed reveals potential strains from higher interest rates

LinkedIn, the Microsoft-owned professional networking platform, on Wednesday announced layoffs in its sales, operations, and support departments. But apart from full-time employees losing their jobs, media reports indicate that offer letters previously extended to new hires were also rescinded.

LinkedIn layoffs: Woman says her job offer was rescinded before she could join

In a strategic move to expand its presence in the Indian market, tech behemoth Cisco Systems on Wednesday announced its plans to commence manufacturing operations in India.

In boost to 'Make In India', Tech giant Cisco to start manufacturing in India

South Africa's currency, the rand, has plummeted to an all-time low, causing widespread concern among investors and experts. Reuters reported that the rand dropped by as much as 2.

South African Rand hits rock bottom, takes a dive amid multiple turmoils

The promise of refunding candidates who fail the government examination turned out to be the greatest undoing of a Chinese ed-tech firm. Offcn Education Technology Co built a fortune helping Chinese students prepare for the tough examination to join several government department, which is considered among the toughest in the world, with a success rate of about less than 1.

Chinese tycoons lose $20 billion as company's student refund policy backfires

In a significant development for India's e-commerce landscape, the Open Network for Digital Commerce (ONDC), the government's open e-commerce network, has expanded its operations to 236 cities across the country, a senior official told Reuters on Thursday.

Government's open network revolution: ONDC spreads its wings to 236 cities

Will the US default on its debt? That's the biggest question that everyone's asking right now. And if financial markets in the United States are to be believed, the risk of a default has risen.

US debt limit crisis: Rise in market bets on probability of default

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Zee News Rajasthan

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