The Centre is divesting 2.52% of its stake in Cochin Shipyard Limited (CSL) through an Offer for Sale (OFS) with a floor price of Rs 1,400 per share. The sale, with an option to sell an additional 2.52%, aims to support India's maritime ecosystem development.
Tencent Holdings reduced its stake in Kuaishou Technology to 9.37% from 15.68%, causing Kuaishou's shares to drop over 6%. The divestment follows Tencent's lead in a $3 billion financing round for Kuaishou's AI unit, Kling AI.
Microsoft's Xbox division is laying off approximately 3,200 employees, with 1,600 cuts immediate, as part of a broader company-wide reduction of 4,800 positions. Several studios, including Compulsion Games and Double Fine, will become independent, while others like Ninja Theory and Undead Labs are seeking new ownership. The move aims to improve profit margins and efficiency.
Microsoft's Xbox division is undergoing a significant "reset" with 3,200 layoffs and the divestment of five acquired studios. New CEO Asha Sharma cited a need to "simplify" the bloated division and refocus on "industry-defining franchises" after years of underperforming investments in smaller studios and Game Pass.
Sally Rooney's "Intermezzo" will be published in Hebrew by November Books, an Israeli publisher deemed compliant with the BDS movement. This follows Rooney's 2021 decision to decline a translation offer from a different Israeli publisher due to complicity concerns.
