After buying the microblogging site, Twitter, in a $44 billion deal, billionaire Elon Musk has sold additional shares of his company Tesla. According to the Securities and Exchange Commission in the United States, Musk sold 19.5 million shares of Tesla worth 4 billion dollars after taking over Twitter.

WION Business News: Musk sells $4 bn Tesla shares as it hits 2-year low

It is not just tech giants like Meta and Twitter that are going for massive lay-offs, some big Wall Street banks are also cutting hundreds of jobs. Barclays has got about 200 across its banking and trading desks this week.

WION Business News | Wall Street lay-offs: Citigroup, Barclays cut hundreds of jobs

A US judge granted final approval to a class action settlement worth $80 million. To resolve claims, Volkswagen and Porsche unites skewed emissions and fuel economy data on 50,000 Porsche vehicles in the United States.

WION Business News | Porsche US emission data case: Judge approves $80 mn settlement

After a gap of two years, auto shows are back to auto enthusiasts globally. One such show is the world's largest two wheeler and motorcycle show EICMA.

WION Business News | WION at EICMA 2022: Electric two-wheelers dominate show

In what could possibly be more trouble for Meta, the EU anti-trust regulators are drawing charges against the parent company of Facebook, Instagram and WhatsApp. Meta is being charged over its use of customer data.

WION Business News | EU regulators about to charge Meta: Reports

A deal for leading cryptocurrency exchange FTX has collapsed after bigger rival Binance said that it was pulling out of the deal. Binance has now signed a non-binding agreement on Tuesday to buy FTX's non-United States' unit to help cover a liquidity crunch.

Binance walks away from FTX deal due to 'mishandled funds'

Cryptocurrencies tumble over failed FTX deal

Electric carmaker Tesla, is once again recalling its cars covering just over 40,000, 2017 to 2021 model X and model S vehicles. The reports have said that the affected vehicles could experience a loss of power steering assist when driving on rough roads or after hitting a pothole.

Tesla recalls 40,000 cars over steering issues

Boeing deliveries fell in the month of October as it faced certain quality issues as the US plane-maker continued to see some pretty strong demand for new aircraft. Boeing delivered 35 aircraft in the month of October as compared to 51 deliveries in September.

WION Business News: Boeing deliveries fall to 35 from 51 in October

British subsidiary of mining and trading group Glencore is in legal trouble on the allegations that employees and agents of Glencore used private jets to transfer cash to pay bribes to oil officials in West Africa.

WION Business News | Glencore under scanner for 'bribery'

Once a popular household name, Revlon is not seeing good days. Bankruptcy attorneys said 'Revlon is now engaging with possible purchases, this is a way to exit from Chapter 11 as quickly as possible.'

World Business Watch: Bankrupt Revlon entertaining sale offers

Trade with sanctioned Russia is helping China's currency, reports say that Yuan has become 5th most traded currency in the world. China's currency was up three places to number five in bank for international settlements.

World Business News: Yuan becomes 5th most traded currency, surpasses Australian, Canadian dollar

IMF has warned the Asian economies by looking at the major challenges faced by global economies especially Asia. IMF has cut Asia's economic forecast on global monetary tightening rising inflation and Ukraine war.

WION Business Watch: IMF cuts Asia's economic forecasts; 'China slowdown to drag on Asia's growth'

Amazon's Jeff Bezos massive wealth drop is becoming the talk of the town - he could see as much as $23 billion erase from his fortune after Amazon recorded sluggish sales in holiday season on Thursday.

WION Business Watch: Jeff Bezos on brink of $23 billion wealth drop

Wall Street is losing patience over Meta boss Mark Zuckerberg's enormous and experimental bets on his metaverse project that helped drive up companies overall cost by fifth and third quarter.

WION Business News | Costly metaverse pitch falls flat

Tesla is facing a criminal investigation in the US over the claims that the company's electric vehicle can drive themselves. The US Department of Justice launched an undisclosed probe last year - it followed more than a dozen crashes in which some of them were fatal. Watch the video to know more about the probe.

World Business Watch | Self-driving: Tesla faces US criminal probe

Ford and Volkswagen, two of the largest automakers in the world are shutting down the joint effort to develop self-driving through the startup. Argo AI reports ford concluded that large-scale profitable commercialisation of self-driving cars was further out than expected.

World Business Watch: Blow to self-driving car industry; Ford, Volkswagen pull plug on Robotaxis

Despite slightly meeting expectations and as poor net exports, South Korea's economy has fallen to slowest in the year in the third quarter. The countries' GDP was up by 0.3%, it was estimated that the GDP will go up but the pace of growth will come down.

World Business Watch: South Korean growth hits 1-year low

Covid fears have come back to haunt China now. According to reports, Foxconn's largest iPhone manufacturing facility in Zhangzhou is facing another Covid-19 outbreak. However, the company has assured it has had minimal impacts on operations.

World Business Watch: China Covid policy disrupts iPhone production

The consequences of Washington's crackdown on China's tech ambitions is affecting many companies. Now, even companies in countries that are close to the United States allies can end up getting in between in the semi-conductor wars between the world's largest and semi-largest economies.

South Korea's SK hynix cuts CapEx by 50%; US curbs may force company out of China

Battling a slumping PC market and a strong dollar, United States Tech Giant Microsoft is set to post its slowest quarterly revenue growth in over five years.

WION Business News | Microsoft revenue forecast under threat

At the time of record high inflation, reports indicate that nearly 70% percent of Singaporeans are concerned about higher household expenses. According to a survey, this increase of 11 percentage points from last year is mainly the result of rising inflation.

WION Business News | Recession fears: 70% of Singaporeans concerned

<p>Microsoft has laid off hundreds of workers across multiple divisions, a company spokesperson confirmed to CNET on Tuesday (October 18). This move comes amid tech companies expecting an economic downturn worldwide in demand for tablets and PCs.&nbsp;</p>

<p>Although Microsoft did not confirm the number of jobs it cut, reports have mentioned it laid off nearly 1,000 of approximately 221,000 employees across the organisation. As per multiple reports, layoffs were also done in the Xbox gaming division.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/us-lawmakers-urge-biden-to-recognise-war-crimes-committed-by-pakistan-during-1971-bangladesh-liberation-526624">US lawmakers urge Biden to recognise 'war crimes' committed by Pakistan during 1971 Bangladesh liberation</a>&nbsp;</strong></p>

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<p>The company official said that they will evaluate business priorities as there's a need for structural adjustments.</p>

<p>Microsoft is the latest tech firm to cut staff in the face of slowing growth. Previously Intel, Meta and Google have also done staff reductions.&nbsp;</p>

<p>A Microsoft spokesperson told CNET in an emailed statement: "Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead."&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/world/musk-says-he-hasnt-received-any-funding-from-pentagon-for-starlink-services-in-ukraine-526631">Musk says he hasn't received any funding from Pentagon for Starlink services in Ukraine</a>&nbsp;</strong></p>

<p>Notably, the US-based multinational technology corporation had said that a small number of roles had been eliminated. It had said&nbsp;that it would increase its employee count down the line.&nbsp;</p>

<p>In a statement released by Microsoft had said, "Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities regularly, and make structural adjustments accordingly."&nbsp;</p>

<p><strong>WATCH WION LIVE HERE&nbsp;</strong></p>

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Microsoft has laid off hundreds of workers across multiple divisions, a company spokesperson confirmed to CNET on Tuesday (October 18). This move comes amid tech companies expecting an economic downturn worldwide in demand for tablets and PCs.

Microsoft has laid off hundreds of workers across multiple divisions, a company spokesperson confirmed to CNET on Tuesday (October 18). This move comes amid tech companies expecting an economic downturn worldwide in demand for tablets and PCs. Although Microsoft did not confirm the number of jobs it cut, reports have mentioned it laid off nearly 1,000 of approximately 221,000 employees across the organisation. As per multiple reports, layoffs were also done in the Xbox gaming division. ALSO READ | US lawmakers urge Biden to recognise 'war crimes' committed by Pakistan during 1971 Bangladesh liberation × The company official said that they will evaluate business priorities as there's a need for structural adjustments. Microsoft is the latest tech firm to cut staff in the face of slowing growth. Previously Intel, Meta and Google have also done staff reductions. A Microsoft spokesperson told CNET in an emailed statement: "Like all companies, we evaluate our business priorities on a regular basis, and make structural adjustments accordingly. We will continue to invest in our business and hire in key growth areas in the year ahead." ALSO READ | Musk says he hasn't received any funding from Pentagon for Starlink services in Ukraine Notably, the US-based multinational technology corporation had said that a small number of roles had been eliminated. It had said that it would increase its employee count down the line. In a statement released by Microsoft had said, "Today we had a small number of role eliminations. Like all companies, we evaluate our business priorities regularly, and make structural adjustments accordingly." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Microsoft lays off nearly 1,000 workers across multiple divisions: Report

Amid geopolitical tensions in China, European car maker Stellantis may stop making cars in the world's second-largest economy. The car company might implement an 'asset-light' plan for some brands in the world's largest auto market.

World Business Watch: Stellantis may stop manufacturing cars in China

This time it's Rolls-Royce that will manufacture its first electric car. The car company will start manufacturing the e-car next year. The two-door EV is longer than a full-size SUV and the Spectre will be offered with stars in its door.

World Business Watch: Rolls-Royce to start making its first electric car, already has 300 buyers

French cement-maker Lafarge has pleaded guilty for supporting ISIS and other terror groups. The firm paid millions of dollars to the terrorist group to keep a plant operational in Syria.

World Business Watch: Lafarge fined $778 million for supporting terror groups in Syria

US President Joe Biden will announce a plan on Wednesday to sell off the last portion of his release from nations emergency oil reserves that will be done by year's end. The plan will likely include putting final 15 million barrels of oil on the market from a record release of strategic oil reserves of the US.

World Business Watch: US President Joe Biden to announce new actions to encourage oil production

5G is the buzzword nowadays in India. Giants like Airtel and Jio have started rolling out the next generation mobile technology in select cities. Where people are figuring out how they can upgrade to faster network, scamsters are using this opportunity to their best.

WION Business News | Watch out for 5G scams in India

James Bond's favourite car is now partially owned by a Chinese firm Xiang Geely holding group. China's largest private car maker has now become a minority shareholder in the British luxury car maker, Aston Martin. The latter has scored investment from Geely that already owns around 80% in Volvo cars and other automakers.

World Business Watch: Chinese carmaker buys stake in Aston Martin

A clear escalation between the Malaysian government and the heirs of late Southeast Asian Sultan of Sulu. The latter party has now asked the Dutch court for permission to seize Malaysian assets in the Netherlands. The heirs are seeking a enforcement of $15 bn arbitration award.

WION Business News: Heirs of Sulu Sultan demand $15 bn from Malaysia; country to take legal actions

In line with the steps taken by major global central banks, India's RBI is now hiking key lending rates by 0.5 percent and this move can result in higher installments of loan consumers in India.

WION Business News | Battle on inflation continues: India 's key policy rate hiked by 0.5%

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