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Musk feels 'super bad' about economy, needs to cut 10% of Tesla jobs

Tesla employed around 100,000 people at end of 2021. Musk warned staff on Tuesday to return to office or leave.

Xiaomi names new head for India unit after dispute over business practices

Tse, a British national who was also the former general manager of Xiaomi Indonesia, has helped the company expand into many global markets, Xiaomi India said in a tweet

Amazon's CEO of Worldwide Consumer to step down after 23 years

Amazon CEO Andy Jassy says he expects to be ready with an update on Clark's succession over the next few weeks.

EU blacklists "butchers" of Bucha and Mariupol in latest Russia sanctions

European union has blacklisted military commanders from Russia who led operations in Ukraine cities of Bucha and Mariupol

Govt's cybersecurity rules risk creating 'environment of fear': Tech firms

Indian cybersecurity rules due to come into force later this month will create an "environment of fear rather than trust", a body representing top tech companies has warned the government

Wall Street slides after strong jobs data; Dow Jones down 160 points

The Nasdaq Composite was down 207.54 points, or 1.68%, at 12,109.36

Twitter says waiting period for Musk's deal over after being put on hold

Completion of the deal is now subject to remaining customary closing conditions, including approval by Twitter stockholders and the receipt of applicable regulatory approvals, Twitter said.

US job growth beats expectations; unemployment rate steady at 3.6%

Economists polled by Reuters had forecast payrolls increasing by 325,000 jobs last month. Estimates ranged from as low as 250,000 jobs added to as high as 477,000.

Food prices dip in May, cereal output set to decline: UN food agency

Despite the monthly decline, the May index was still 22.8% higher than a year earlier, pushed up in part by concerns over the impact of the Russian invasion of Ukraine

Strong cotton prices could increase planting to record high of 15%

Higher output could help cool the rally in global and local cotton prices, which is hurting Asian apparel makers

Tesla pauses all hiring. Need to cut staff by 10%, says Elon Musk

Tesla CEO Elon Musk said he had a "super bad feeling" about the economy and that the electric carmaker needed to cut staff by around 10%

Zelenskyy expects more weapons as battle for Ukraine's east rages

Russia's forces now occupy about 20% of Ukraine's territory, according to Ukainian President Volodymyr Zelenskyy

Solid US job growth anticipated in May; unemployment rate seen at 3.5%

The Labor Department's closely watched employment report on Friday, also expected to show strong wage gains last month

Ukraine waits for West to tip balance against Russia after 100 days of war

With casualties mounting and some delays in Western capitals with deliveries, Ukrainian officials fear the relief may not come quickly enough

Indian mills waiting to export 1.5 MT sugar after selling 8.5 MT: Report

India has exported around 8.5 million tonnes of sugar since the current season began on Oct 1, with exporters likely to contract another 1.5 million tonnes for overseas sales in the next five months

PMI: Service activity touches 11-year high of 58.9 in May on strong demand

Overall demand rose at the fastest pace since July 2011 as economic activity continued to normalise with the lifting of pandemic restrictions

Dollar wobbles as traders await update on US jobs data, cues on Fed hike

Markets have locked in consecutive 50-basis-point Fed hikes in June and July but the dollar has been pushed around this week by uncertainty about what happens after that

Oil prices steady on doubts OPEC+ hike can make up Russian deficit

Oil prices were roughly unchanged on Friday, clinging to gains made in the previous session

Sheryl Sandberg's exit may not be a big blow for Facebook-parent Meta

As second-in-command to founder and Chief Executive Mark Zuckerberg, Sandberg transformed Facebook from a buzzy startup into a technology behemoth and helped grow its ad revenue to over $100 billion

US technology sector sees record job cuts in May amid rising inflation

It is the highest monthly total since December 2020 when tech companies cut as many as 5,253 jobs