Business news centers on companies pulling back and reorganizing as demand weakens, markets stay volatile and new technology reshapes strategy. From software and chips to finance and autos, executives are cutting guidance, shelving plans or trimming staff, while other firms push...
Business news centers on companies pulling back and reorganizing as demand weakens, markets stay volatile and new technology reshapes strategy. From software and chips to finance and autos, executives are cutting guidance, shelving plans or trimming staff, while other firms push into new telecom and AI-driven opportunities.
American Express plans to cut about 5% of its global workforce as part of a broader reorganization tied to efficiency efforts and expanded use of artificial intelligence. The company says it will record a $336 million restructuring charge as it reshapes operations to become more agile and adapt to greater automation.
Volvo Cars shares fall to record lows after the automaker posts wider losses and announces about 2,500 additional job cuts. The move deepens an ongoing turnaround effort as the company faces pressure in China and slower-than-hoped progress in key electric-vehicle plans.
Infosys lowers its FY27 constant-currency revenue growth guidance to 1% to 2% after reporting softer demand in the second quarter. Net profit rises to ₹7,823 crore and revenue reaches ₹49,244 crore, but weaker discretionary spending and pricing pressure prompt a more cautious outlook.
SK Hynix drops its review of a possible U.S. listing for Solidigm, shelving plans to float its NAND flash subsidiary. The decision comes amid volatile capital markets, weakness in semiconductor stocks and shareholder concerns, underscoring how unstable market conditions are complicating fundraising plans in the chip sector.
SpaceX is seeking access to as many as 80,000 U.S. cell sites as it builds out Starlink Mobile and explores a larger role in wireless service. The plan centers on leasing tower space from major infrastructure owners to pair terrestrial coverage with satellite connectivity for mobile users.
Etsy is tightening rules for AI-generated listings to reduce misleading or low-quality products and make it clearer what buyers are purchasing. The updated policy puts more emphasis on human craftsmanship and asks sellers to provide more authentic proof of what is actually being offered.
Indian equities close lower as rising crude prices weigh on sentiment and selling spreads across the market. The Sensex ends at 73,123.83, down 125.56 points, while the Nifty 50 finishes at 22,600, off 0.39%, with midcap and small-cap shares also under pressure.
Top Business stories
- Volvo Cars shares plunge as losses prompt 2,500 more job cuts amid pressure in China (16 sources)
- SpaceX seeks access to up to 80,000 U.S. cell sites for Starlink Mobile (10 sources)
- SK Hynix scraps Solidigm U.S. IPO review amid market volatility and shareholder concerns (9 sources)
- American Express to cut about 5% of workforce to prepare for AI (9 sources)
- Infosys cuts FY27 revenue growth guidance to 1%-2% after softer demand in Q2 (7 sources)
- Etsy tightens rules on AI-generated listings to curb misleading “slop” content (7 sources)
- Chancellor Healey unveils plan to cut ‘pointless paperwork’ and save businesses up to £800m (5 sources)
- Tesla cancels Cybertruck plans for Australia and New Zealand, refunding reservation holders (5 sources)
Paige Webley
Author at IfHighLow
