WORLD
Unity Software to cut 1,800 employees, about 25% of staff
The San Francisco-based company, which makes software used by video-game creators, said in a filing Monday it can’t yet estimate the costs associated with the moves, which are designed to improve long-term profitability.
BUSINESS
Bitcoin rally cools in countdown to US spot ETF decision by SEC
Bitcoin, the world's biggest and best-known cryptocurrency, is up 13.2% from the year's low of $41,454 on Jan. 3.
BUSINESS
Elon Musk’s drug use is the latest headache for Tesla’s Board
The Wall Street Journal article describing Musk’s history of recreational drug use and ongoing consumption of ketamine is the latest in a long line of tests for a board packed with the CEO’s acolytes
TRENDS
iPhone Survives 16,000-Foot fall from Alaska Air flight
The US Federal Aviation Administration temporarily grounded more than 170 Max 9 aircraft to conduct safety checks before they are returned to service.
BUSINESS
India’s exports may take a $30 billion hit on Red Sea threats
The initial assessment, conducted by the Research and Information System for Developing Countries, a New Delhi-based thinktank, would mean a 6.7% drop in Indian exports, based on last fiscal year’s $451 billion total.
BUSINESS
Zee-Sony's $10-billion merger may be called off
Zee-Sony merger: While the agreement signed in 2021 was that Goenka would lead the new company, Sony no longer wants him as CEO amid a regulatory probe, the people said.
BUSINESS
Amazon, Microsoft boosting Saudi offices amid state pressure
The three US firms have all received licenses to establish regional HQs in Riyadh, a government database shows. Those approvals came just ahead of the Jan. 1 deadline set by the Saudi government.
BUSINESS
Foxconn arm in India Is set to lose its country head Foulger
Josh Foulger, the country head of Foxconn’s Bharat FIH arm, is leaving the company after nine years, people familiar with the matter said. His last day will be this month, they said, asking not to be named as the matter is private. His plans going forward couldn’t immediately be learned.
WORLD
Bitcoin ETF hopefuls eye this week for long-awaited SEC greenlight
Would-be Bitcoin ETF issuers have been given until Monday morning in Washington to submit any last-minute revisions to their pending applications, Bloomberg News has reported.
WORLD
Apple’s reign as world’s top stock at risk from bumpy 2024 start
Shares of the technology giant fell 0.4% Friday to close at about $181 after the New York Times reported that the Justice Department is closer to filing an antitrust case against the company. The decline notched the fifth consecutive negative day for Apple, its longest losing streak since October.
WORLD
Boeing Max grounding goes global as carriers follow FAA order
After Alaska Air kept its fleet of 65 737 Max 9s on the ground following the incident on Jan. 5, United Airlines Holdings Inc., the model’s top operator, followed suit with some jets.
WORLD
Investors are looking to share buybacks to keep US stock market afloat
Bulls may need the support, as hedge funds and retail investors are tilted defensively following the strong end to the year, with worries around the timing of the Federal Reserve’s rate cuts adding to the caution.
WORLD
Boeing CEO’s Dave Calhoun comeback plan for 2024 takes a hit five days in
In just months, Boeing Co. has suffered a series of quality lapses that threaten to erode trust in the manufacturing prowess of the biggest US exporter — notably its 737 Max aircraft, a crucial cash cow.
BUSINESS
Driverless truck companies plan to ditch human copilots in 2024
After years of testing, Aurora Innovation Inc, Kodiak Robotics Inc and Gatik AI Inc expect to remove safety drivers from trucks that are being guided by software and an array of sensors including cameras, radar and lidar, which sends pulses of light that bounce off objects
BUDGET
Budget deficit may shrink as bond index inclusion beckons
The target will be between 5.2% to 5.4% of gross domestic product for the year starting April 1, according to officials with knowledge of the matter
BUSINESS
GIFT City gives first nod to Premji’s family office to invest abroad
The approval raises hope for the nation’s wealthy as they wait for clarifications from regulators to make similar moves.
WORLD
Troubled China shadow bank Zhongzhi files for bankruptcy
Beijing’s First Intermediate People’s Court decided to accept the case, according to a statement on the court’s Wechat account Friday.
WORLD
Citi alumni plan Bitcoin securities that don’t need SEC approval
The new offering, called Bitcoin depositary receipts, will be similar to American depositary receipts that represent foreign stocks.
BUSINESS
India tech valuations put to the test as global headwinds put pressure on earnings
India’s tech sector index, which includes Infosys Ltd. and Tata Consultancy Services Ltd., rallied 12% in the three months through December, powered by a global rally in the space after a dovish pivot by the Federal Reserve.
WORLD
Bitcoin resumes ascent with ETF approval expectations recovering
The largest cryptocurrency tumbled as much as 9.2% yesterday, or the most on an intraday basis since November 2022, after Matrixport analyst Markus Thielen wrote in a note that he expects the Securities and Exchange Commission to reject all Bitcoin ETF proposals this month.
WORLD
Apple supplier TDK bets new battery will change smartphone game
The Apple Inc. supplier is the first to apply to smartphones a technological breakthrough that its rivals have been exploring mainly as a means to stretch mileage for electric vehicles, according to TDK Chief Executive Officer Noboru Saito.
WORLD
OpenAI to launch online store for custom versions of ChatGPT next week
San Francisco-based OpenAI announced at its developer conference in November that users could start building GPTs — its term for custom versions of ChatGPT — without needing to learn any coding. With this option, users can quickly create chatbots that teach math to a child or come up with colorful cocktail recipes.
WORLD
OpenAI in talks with dozens of publishers to license content
“We are in the middle of many negotiations and discussions with many publishers. They are active. They are very positive. They’re progressing well,” Tom Rubin, OpenAI’s chief of intellectual property and content, told Bloomberg News. “You’ve seen deals announced, and there will be more in the future.”
BUSINESS
Russian oil losing competitive edge in India as prices rise
Refiners in the world’s third-largest oil consumer paid an average of $85.90 a barrel for shipments from its largest supplier, up 1.8% compared with $84.46 in October.
