LIV Golf has cancelled its August Team Championships in Michigan, confirming the season will end early in Indianapolis. CEO Scott O'Neil stated the move allows the league to focus on a transition toward a player-owned model following recent financial shifts.
A report criticizes China's lack of transparency regarding its foreign loans and obligations, hindering accurate risk assessments and increasing the likelihood of unexpected defaults in emerging markets.
Diageo chief executive Dave Lewis has announced a $1 billion cost-cutting and restructuring plan, slashing organic net sales growth expectations through 2029 amid slowing global demand for alcoholic beverages.
Etsy is laying off about 220 employees, or roughly 12% of its workforce, to simplify its organizational structure and innovate faster. The announcement came alongside Q2 earnings results that surpassed analyst expectations.
Strategy sold 1,638 BTC and issued 3.01 million MSTR shares to fund preferred dividends, repurchase STRC shares, and expand its USD reserve to $4 billion, extending its Bitcoin acquisition pause to six weeks.
Meta CEO Mark Zuckerberg asserts that AI is a net job creator, citing infrastructure needs, despite Meta laying off 8,000 employees and reassigning 7,000 others this year. He distinguishes between jobs created in construction and engineering for AI infrastructure and those eliminated internally, while investors question the high spending.
The public listing of Shanghai Jiushi Dongyu Culture, Sports & Tourism Group on the Shanghai Stock Exchange is viewed as a landmark precedent for China to experiment with a market-driven sports model. An industry expert believes this state-owned entity's consolidation of major international events will enhance the fan experience.
A Seoul court extends JTBC's restructuring deadline to August 30, allowing more time to negotiate with creditors amid a liquidity crisis, after the broadcaster failed to repay $13.3 million in loans.
Company refutes market shutdown rumors, confirms record-breaking Phone (4b) sales, and announces restructuring with AI-native unit and regional hubs, impacting certain positions.
Amazon has laid off employees from its Artificial General Intelligence (AGI) team, responsible for developing human-level AI, despite calling AGI a top priority. The cuts, affecting roles in model customisation and post-training, aim to sharpen focus on key AI initiatives amid continued heavy investment and recent leadership changes.
AgiBot had eyed a Hong Kong listing this year, targeting a HK$40-50 billion valuation, with CICC and Morgan Stanley as potential joint sponsors. Separately, Innolight's IPO, aiming to raise US$8 billion, attracted over 30 cornerstone investors for a July 30 debut, potentially the city's biggest listing in seven years.
South Korea's industry ministry approved a restructuring plan for petrochemical companies at the Yeosu industrial complex, including Lotte Chemical, DL Chemical, and Hanwha Solutions. This initiative, part of government efforts to address industry oversupply, involves spinning off and merging operations, shifting to higher-value products, and includes 800 billion won in company investment and over 700 billion won in government support.
The Supreme Court has ordered the Uttar Pradesh government to restructure the SIT investigating financial discrepancies in Ram Mandir donations, preferring a senior IPS officer. Eight individuals have been arrested, Rs 78.94 lakh recovered, and investigators are tracing the money trail for further revelations.
A new era of content discovery, AI Optimization (AIO), is emerging as AI models like ChatGPT and Perplexity become primary search tools. This shift requires content creators to optimize for AI-generated responses, distinct from traditional SEO, to capture growing organic traffic.
MBK Partners' sale of flexible copper-clad laminate (FCCL) maker Nexflex has been postponed due to Homeplus's court-ordered restructuring termination. The delay, attributed to MBK's focus on Homeplus's legal and financial issues, has weakened the acquisition competition as some bidders may withdraw.
Johannes Heidecke, OpenAI's head of safety systems, is reportedly leaving the company. Saachi Jain will take over as interim head, and Mia Glaese will become VP of research and safety as part of a reorganization integrating safety with model development.
Xbox CEO Asha Sharma announced significant layoffs and studio transfers, sparking a debate over immigration and 'American' workers. Critics falsely claimed Sharma, a US citizen of Indian origin, fired Americans for H-1B visa holders, while others criticized the cuts due to Microsoft's profits.
Volkswagen Group's plan to cut 100,000 jobs and close four German factories by 2030 was reportedly rejected by its supervisory board. The company faces challenges with costly tariffs and declining market share in China and North America, impacting profit margins.
Volkswagen's labour representatives on the supervisory board rejected a major restructuring plan reportedly including 100,000 job cuts and four plant closures. The plan was voted down 12-7. The company reported an 8.6% drop in Q2 vehicle deliveries.
Volkswagen is set to discuss significant job cuts and factory closures, potentially impacting 100,000 global roles and four German plants. Unions are protesting, and labor representatives hold a majority on the supervisory board, complicating approval.
A 26-year-old man has been sentenced to 10 years in prison by a German court for fatally attacking train conductor Serkan Calar during a ticket inspection. The Greek defendant, residing in Luxembourg, repeatedly punched Calar after being asked to leave a train for lacking a ticket. Calar died two days later from a brain hemorrhage.
India's IT services industry, valued at over $315 billion, is undergoing silent layoffs and job cuts, with estimates suggesting 25,000-35,000 jobs could be lost this year. Companies are prioritizing productivity improvements and workforce restructuring due to intense competition and weaker business conditions.
Obsidian Entertainment is undergoing a significant reshuffle, including project cancellations like an Avowed sequel, as part of Xbox's broader restructuring and layoffs. The studio will now reportedly focus on a new Fallout game, with Josh Sawyer leading development. Approximately a quarter of Obsidian's workforce, totaling 52 employees, are being laid off.
BNB Chain is undergoing a major architectural restructuring to achieve 1 million transactions per second, integrate protocol-level privacy, and cater to AI agents and traditional finance. This aims to reverse recent declines in its native token and network activity.
