Us Companies

Binance's US partner confirms firm run by CEO Zhao operated on exchange

Binance had secret access to a bank account belonging to its purportedly independent U.S. partner and transferred large sums of money from the account to the trading firm, Merit Peak Ltd

Twitter under Musk cuts more staff overseeing global content moderation

At least a dozen more cuts on Friday night affected workers in the company's Dublin and Singapore offices

Former FTX CEO Sam Bankman-Fried to fly to US today, escorted by FBI agents

Sam Bankman-Fried signed his surrender documents on Tuesday, he will sign a separate set of papers finalising his waiver of rights to fight extradition

Zippo targets 50% sales growth in 2023, expects strong double-digit growth

Iconic windproof lighter maker Zippo Manufacturing Company is targeting nearly 50 per cent growth in sales in India for 2023 and expects to continue strong double-digit growth over the next five years, said a company official. The company gets around 60-70 per cent of sales from e-commerce channels in India and is also expanding its presence in offline channels, where it expects faster growth in 2023, said Zippo Global Marketing Associate Vice President Lucas Johnson. The company has done successful tests with very big retail partners such as Reliance and has plans to roll out lighters at more retail stores as it senses a "huge opportunity" there, he added. The company, as per its retail strategy prioritises online sales with its own channel besides several key e-commerce channel partners such as TATA Cliq Luxury, Amazon and Flipkart. It is also present in high-end gift shops or places like Cafe Coffee Day, Beer Cafe etc. Based on our success in the Indian market this year, consume

Microsoft prepares to go to battle with FTC over Activision deal

The company has also said it expects the industry to get more competitive in the future with the rise of cloud gaming

Deloittee CEO to focus on India, climate crisis solutions after retirement

Top Indian-American business executive Punit Renjen, who recently announced his retirement as Deloitte Global CEO, has said that his future endeavours would include India in particular on nature-based solutions to the climate crisis. My future endeavours are going to involve India. I'm very passionate about India, and the journey that India is on. I firmly believe that this is India's century, Renjen told PTI in a recent interview. Renjen, 61, announced his retirement from Deloitte last month. As Deloitte Global CEO since 2015, Renjen developed and executed a global strategy that resulted in Deloitte revenue growing from USD35 billion to more than USD59 billion in just seven years. Noting that India took on the presidency of the G-20, he said this is a great opportunity for India now to lead the rest of the world. My focus in India will be around climate, particularly nature-based solutions to the climate crisis that we face around sustainability and skilling and education, ...

Zetwerk set for over $1-billion revenue in FY23 on China Plus One

Zetwerk's acquisition of Unimacts will provide the company with immediate access to marquee solar and wind-power customers

Elon Musk's 'hardcore' management style: A case study in what not to do

Musk, the world's richest man, appears in a hurry to make Twitter into a money-spinner, but it takes time to understand the requirements for successful organisational change

Elon Musk blames 'activists' for his Twitter moderation council lie

After reinstating accounts back onto Twitter even after promising that decisions would be taken by a content moderation council, CEO Elon Musk blamed "activists" for his moderation council lie

Elizabeth Holmes sentenced to 11 years in prison for Theranos Fraud

"I am devastated by my failings," Holmes said. "Looking back there are so many things I'd do differently if I had the chance. I tried to realize my dream too quickly."

'Difficult decision': Amazon CEO says more layoffs will happen in 2023

The mass layoffs that began in Amazon's corporate ranks this week will extend into next year, CEO Andy Jassy said on Thursday. In a note sent to employees, Jassy said the company told workers in its devices and books divisions about layoffs on Wednesday. He said it also offered some other employees a voluntary buyout offer. "I have been in this role now for about a year and a half, and without a doubt, this is the most difficult decision we have made during that time (and, we have had to make some very tough calls over the past couple of years, particularly during the heart of the pandemic)," Jassy wrote in the memo. Seattle-based Amazon, which has been cutting costs in various areas of its business in the past few months, is undergoing an annual review process to figure out where it can save more money. Jassy said this year's review is "more difficult" due to the economic landscape and the company's rapid hiring in the last several years. Other tech companies -- many of which had

Poor quarterly show by US tech giants triggers $380 bn wipe off in m-cap

Disappointing quarterly updates from the Google parent, as well as Microsoft Corp. and semiconductor giant Texas Instruments Inc., triggered a selloff threatening to wipe more than $380 billion

Apple's industrial design chief Evans Hankey to leave 3 yrs after Jony Ive

Hankey was named to the post in 2019 to replace Jony Ive, Apple's iconic design chief for two decades

Musk plans to cut Twitter workforce by 75% in a matter of months: Report

Elon Musk's plans for Twitter Inc. involve slashing its staff by nearly 75% in a matter of months, according to documents obtained by the Washington Post

Meta's corporate development head Zoufonoun to step down after 12 years

Meta's top executive Amin Zoufonoun, who led Facebook's acquisitions of Instagram, WhatsApp, and Oculus, has confirmed that he is leaving the tech giant after 12 years

More US companies charging employees for job training if they quit

Nearly 10 per cent of American workers surveyed in 2020 were covered by a training repayment agreement, said the Cornell Survey Research Institute.

This CEO wants people to be happy that he laid off 500 employees

US exercise and fitness equipment company Peloton CEO Barry McCarthy has announced to cut 12 per cent of the workforce (nearly 500 employees) in a latest lay-off round

Peloton planning to cut additional 500 jobs to reverse losses: Report

To cut costs, the company cut hundreds of jobs, shuttered stores and outsourced delivery to third parties this year

Apple made illegal anti-union threats in Oklahoma, alleges complaint

Apple is violating federal labor law by engaging in surveillance and interrogation of employees, according to the CWA's claim

Supply chains aren't broken, have evolved for the better in some places

The dismal state of American manufacturing combined with resilient Asian supply chains has brought into focus the crucial global role of industrial giants like South Korea, China and Japan