Business

Apple is set to reduce its workforce by over 600 employees in California, indicating the tech giant’s initial significant reduction in staff since the pandemic, amid a general trend of downsizing within the tech sector. The company informed 614 employees across various offices on March 28 that their positions would be terminated by May 27, as per documents submitted to …

Global stock markets experienced a downturn on Wednesday, following a significant sell-off on Wall Street that ended its exceptional bullish trend with the market’s worst performance in recent weeks. In Europe, the French CAC 40 saw a minor increase of 0.1% to 8,139.15, and the German DAX rose by 0.3% to 18,331.04 in the early hours. However, the British FTSE …

U.S. Treasury Secretary Janet Yellen is embarking on a visit to China, aiming to navigate through the complexities of the U.S.-China relationship without sparking an open conflict, despite existing challenges in the world’s two largest economies’ rivalry. These challenges include disputes over China’s subsidies for electric vehicles and solar panels manufacturing, mirroring the U.S. government’s increasing support for these sectors. …

Gold hit a new all-time high on Tuesday, reaching $2,266.85 per ounce in the morning in London, amid expectations of interest rate cuts later this year by major central banks, including the European Central Bank, Bank of England, and Federal Reserve. The rise in gold prices is also fueled by geopolitical tensions in Europe and the Middle East, as well …

In the picturesque French Riviera town of Menton, the annual lemon festival dazzles visitors with intricate citrus displays, yet the star of the show, the renowned Menton lemon, is notably absent from these decorations. Valued for its unique flavor and historical prestige, including admiration from King Louis XIV, the Menton lemon is deemed too valuable to be used merely for …

Visa and MasterCard have reached a settlement with U.S. merchants concerning swipe fees, a move that could lead to significant savings for consumers amounting to tens of billions of dollars. Swipe fees, charged by Visa, MasterCard, and other credit card issuers for facilitating transactions, are typically passed on to consumers by merchants when they use credit or debit cards. The …

The U.S. has recently targeted a network of businesses and individuals spanning six countries, including a money exchanger and various firms, due to their roles in supporting Iran’s military operations as well as the Houthi militants in Yemen and the Hezbollah group in Lebanon. The sanctions, implemented by the Treasury Department’s Office of Foreign Assets Control, encompass six companies, two …

On Thursday, China announced its decision to remove the tariffs it had imposed on Australian wine more than three years ago, marking a significant step toward mending relations with Australia. The Ministry of Commerce in China stated that this change will be effective from Friday, reversing the duties set in 2020 amid a diplomatic clash spurred by Australia’s call for …