World

DAVOS, Switzerland: Microsoft Corp on Wednesday (Jan 18) said it would eliminate 10,000 jobs and take a US$1.2 billion charge to earnings, as its cloud-computing customers reassess their spending and the company braces for potential recession. The layoffs add to the tens of thousands announced in recent months across the technology sector, which has downshifted following a strong growth period during the pandemic. The news comes even as the software maker is set to ramp up spending in generative artificial intelligence that the industry sees as the new bright spot. In a note to employees, CEO Satya Nadella attempted to address the divergent outlook for different parts of the business. Customers wanted to "optimize their digital spend to do more with less" and "exercise caution as some ...

WASHINGTON: The US Federal Aviation Administration (FAA) said on Monday (Jan 9) it is proposing a requirement that passenger and cargo aircraft in the United States have 5G C-Band-tolerant radio altimeters or install approved filters by early 2024. Concerns that 5G service could interfere with airplane altimeters, which give data on a plane's height above the ground and are crucial for bad-weather landing, led to disruptions at some U.S. airports earlier this year. The proposed airworthiness directive, which would take effect in February 2024, is similar to one that took effect in December 2021, prohibiting passenger and cargo flight operations in the vicinity of 5G C-Band wireless transmitters unless the FAA specifically approved them. The FAA is also proposing a requirement that airli...

With experts still debating whether or not 2023 will bring a recession, you might be wary of starting a new venture anytime soon. That's understandable. When the economy is in turmoil, new businesses can face greater hurdles than usual. A downturn could convince investors to hold back their funding. Potential customers could think twice about spending on new products. But, if history is any indicator, your business idea could still thrive even a recession occurs. Multiple high-profile startups that did just that after launching during the Great Recession, which ran from late-2007 to the summer of 2009. It's proof that even tough times aren't enough to prevent every great idea from growing into a flourishing business — especially if your idea can save other people money during tough times. ...

SINGAPORE: A 47-year-old man broke into a woman's home and raped her after meeting her for the first time at a karaoke lounge. After raping her, Yap Pow Foo offered the woman up to S$50,000 and said he would marry her. Yap contested the charges at trial but the High Court found him guilty of both of them. In a judgment dated Monday (Jan 16), Justice Tan Siong Thye laid out the reasons for his decision. On Jan 29, 2017, the 39-year-old victim was at a KTV lounge in Bugis with some friends to celebrate Chinese New Year. Yap joined them towards the end of the night and drove the victim and other members of the group home at around 12.45am on Jan 30, 2017. The victim was heavily intoxicated and was the first to be dropped off, but after ferrying the rest of the people home, Yap returned t...

In this article HTZ AAPL Follow your favorite stocks CREATE FREE ACCOUNT Traders on the floor of the NYSE, Jan. 18, 2023. Source: NYSE Here are the most important news items that investors need to start their trading day: 1. Momentum stalls out Wednesday was rough all around for stocks. The Dow had its worst day since mid-December, while the Nasdaq saw its seven-day winning streak snapped. Bank stocks weighed on markets, as did weak economic data: Holiday retail sales disappointed, and the producer price index, a measure of wholesale inflation, was softer than expected. On Thursday, investors will be listening to Fed speakers, including Vice Chair Lael Brainard, and parsing the latest wave of big earnings, including Procter and Gamble (before the bell) and Netflix (after the close). R...

A US military spokesperson said the Chinese jet came within 3m of the plane's wing, but 6m from its nose, which caused the US aircraft to take evasive manoeuvres. The United States has raised the issue with the Chinese government, a separate US official said. The Chinese embassy in Washington DC did not immediately respond to a request for comment. In the past, China has said that the United States sending ships and aircraft into the South China Sea is not good for peace. US military planes and ships routinely carry out surveillance operations and travel through the region. China claims vast swathes of the South China Sea that overlap with the exclusive economic zones of Vietnam, Malaysia, Brunei, Indonesia and the Philippines. Trillions of dollars in trade flow every year through th...

SINGAPORE: Singapore's non-oil domestic exports (NODX) fell for the third straight month in December due to weak global demand. NODX fell by 20.6 per cent year in December from a high base a year ago, following the 14.7 per cent decrease in November. According to data released by Enterprise Singapore (EnterpriseSG) on Tuesday (Jan 17), the drop was led by both electronics and non-electronics products. On a year-on-year basis, electronics contracted by 17.9 per cent in December, following the 20.2 per cent decline in the previous month. Integrated circuits, disk media products and personal computer parts decreased by 26.0 per cent, 36.5 per cent and 41.7 per cent respectively, contributing the most to the decline in electronics. Non-electronics declined by 21.3 per cent in December fro...

Andretti Global and General Motors announced on Thursday (Jan 5) plans to enter Formula One with a new all-American team using the Cadillac brand and employing at least one US driver. They said Andretti Cadillac, if accepted by Formula One and the FIA governing body, would be based in the United States with a support facility in Britain. Indiana-based Andretti Global is run by former McLaren F1 driver and 1991 CART champion Michael Andretti, son of 1978 Formula One world champion Mario. "The Andretti Cadillac team is planning to submit an expression of interest when the FIA opens the formal process," the statement said. "If selected, the team is seeking to compete as soon as practical with at least one American driver." Andretti Autosport's IndyCar driver Colton Herta would be a front...

The U.S. Supreme Court on Tuesday asked for the Biden administration's views on Apple Inc and Broadcom Inc's bid to revive their challenges to patents owned by the California Institute of Technology, in a dispute in which Caltech previously won $1.1 billion in damages from the companies. The justices asked for the U.S. solicitor general's input on a lower court decision that prevented Apple and Broadcom from arguing the patents were invalid at trial. Caltech had no comment on the Supreme Court's order. Representatives Apple and Broadcom did not immediately respond to requests for comment. Caltech, located in Pasadena, California, sued Cupertino-based Apple and San Jose-based Broadcom in 2016 in federal court in Los Angeles, alleging that millions of iPhones, iPads, Apple Watches and oth...

The modified Boeing 747 plane, named "Cosmic Girl", will take off from Spaceport Cornwall in southwest England. LONDON — The first orbital rocket launch in Western Europe is set to take place in the U.K. on Monday evening. The modified Boeing 747 plane, named "Cosmic Girl," will take off from Spaceport Cornwall in southwest England at 10.16 p.m. local time if conditions allow, but back-up launch dates have also been scheduled for later this month. At around 35,000 feet, the Virgin Orbit rocket will be deployed over the Atlantic, carrying nine small satellites into orbit in what is known as a horizontal launch. Launching in this way is more cost-efficient than the spectacle of vertical take-offs and shows that the U.K. can be nimbler in its space efforts than the U.S., currently the lea...