Neowin News Feed for: Economy

Larry Page leaves California to protect $12.5 billion from proposed wealth tax

Paul Hill — Wed, 07 Jan 2026 09:46:01 +0000

Google's co-founder has preemptively moved his multi-billion-dollar entities to Delaware. Is this the start of a major billionaire capital flight? Read more...

Metaverse reported to contribute up to 2.4% of US GDP by 2035

Steve Bennett — Wed, 10 May 2023 09:30:01 +0000

A study commissioned by Meta has found that the metaverse could contribute up to $760 billion, or 2.4% of the US GDP by 2035, covering sectors such as augmented and virtual reality technologies. Read more...

Lyft announces another round of layoffs, cutting 1,200 jobs

Paul Hill — Sat, 22 Apr 2023 01:02:01 +0000

Lyft is preparing to lay off more than 1,000 employees in a mission to cut costs and become profitable. This represents a 30% cut in staff numbers. Employees will hear more next Thursday. Read more...

PC monitor shipments hit a record low in Q4'22, recovery due in 2024

Paul Hill — Fri, 17 Mar 2023 17:38:01 +0000

IDC has said that monitor shipments in the fourth quarter of 2022 were at their lowest level since 2008 when the company first began tracking them. A slight recovery is expected to start in 2024. Read more...

Microsoft's Satya Nadella confirms the elimination of 10,000 jobs

Paul Hill — Wed, 18 Jan 2023 18:52:37 +0000

Microsoft CEO Satya Nadella has confirmed that the company is laying off a massive 10,000 employees starting today. The company will be offering support to those affected by the job cuts. Read more...

Amazon to lay off thousands of employees amid economic turmoil

Karthik Mudaliar — Mon, 14 Nov 2022 17:42:01 +0000

E-commerce giant Amazon is planning to lay off around 10,000 employees in corporate and technology jobs as soon as this week. The job cuts will affect people in Amazon's devices org, including Alexa. Read more...

Twitter CEO Elon Musk warns company is at risk of bankruptcy

Paul Hill — Fri, 11 Nov 2022 03:32:01 +0000

Twitter could face bankruptcy soon, depending on whether it can start to make money and based on how long the downturn lasts. As a first step, Elon Musk has been pushing for an $8 subscription model. Read more...

Salesforce let go of hundreds of employees on Monday

Paul Hill — Wed, 09 Nov 2022 05:46:01 +0000

Salesforce decided to make less than 1,000 employees redundant earlier this week after it saw a decline in custom from small and medium-sized businesses, predominantly in North America and Europe. Read more...

Mark Zuckerberg says Meta will begin laying people off on Wednesday morning

Paul Hill — Tue, 08 Nov 2022 23:38:27 +0000

Mark Zuckerberg has told executives in a meeting on Tuesday that layoffs will begin on Wednesday morning. Thousands of jobs are expected to go. Four months of salary will be paid as severance. Read more...

Amazon decides to freeze corporate hires for several months due to the economy

Paul Hill — Thu, 03 Nov 2022 20:28:02 +0000

Amazon has said it'll be pausing incremental hiring to its corporate workforce for the next few months due to the state of the economy. Teams at Amazon will have to be more productive, too. Read more...

Storage company Seagate set to cut 3,000 jobs

Paul Hill — Wed, 26 Oct 2022 19:38:01 +0000

The storage company Seagate has announced that it's cutting 8% of its workforce to meet the demands of the current economic downturn. This translates to 3,000 job losses globally by mid-2023. Read more...

Pichai tells Google employees to “pull together” as travel and swag budgets get slashed

Paul Hill — Fri, 23 Sep 2022 16:36:02 +0000

Sundar Pichai and other Google execs have been answering employees' questions at an internal meeting. Various expenses are being targeted for cuts as the firm tries to weather the economic storm. Read more...

Personalized communications company, Twilio, is the latest firm to cut employees

Paul Hill — Wed, 14 Sep 2022 16:44:02 +0000

Twilio has become the latest tech company to lay off employees. It's cutting around 866 jobs as it seeks to narrow down its focus. By concentrating its efforts, it hopes that it can be profitable. Read more...

Microsoft announces that 36,000 new data centre jobs are coming to Qatar

Paul Hill — Wed, 31 Aug 2022 23:24:01 +0000

Microsoft has launched a new data centre in Qatar. The company said it will help the country diversify its economy. It will create 36,000 new jobs and inject $18 billion in the country's economy. Read more...

Microsoft: We have no plans to raise Xbox prices at this time

Usama Jawad — Thu, 25 Aug 2022 21:18:01 +0000

Sony announced earlier today that it is increasing the price of PlayStation 5 across pretty much all regions except the U.S. Microsoft says it has no plans to hike Xbox prices at this time at all. Read more...

Facebook contractors told they would soon have their work taken away from them

Fiza Ali — Thu, 18 Aug 2022 22:16:02 +0000

Anonymous Accenture representatives have told Facebook contractors that they will have to let go of their work on the 2nd of September, with the option to reapply and no guarantee of being rehired. Read more...

Samsung's Vice Chairman gets presidential pardon to help fix South Korea's economic crisis

Fiza Ali — Fri, 12 Aug 2022 09:26:01 +0000

Among the people who received a presidential pardon ahead of the annual Liberation Day this year is Samsung's Vice President, Jay Y. Lee. The pardon was allegedly given to help the economy. Read more...

Oracle starts laying off U.S. employees, will other companies follow?

Paul Hill — Mon, 01 Aug 2022 18:34:01 +0000

Oracle is laying off staff in the United States. It's also planning to cut jobs in Canada, India, and Europe as it struggles to deal with a worse economy. Employees in SF Bay Area were affected. Read more...

Google not looking at lay-offs yet but tells employees to pull their finger out

Paul Hill — Mon, 01 Aug 2022 02:06:51 +0000

Google has launched a Simplicity Sprint where it will attempt to boost productivity. The bad economy means that sales have dampened, and now it needs to be more productive with its resources. Read more...

UK government outlines ambitions to become a tech superpower

Paul Hill — Tue, 14 Jun 2022 00:10:01 +0000

The UK has unveiled a new Digital Strategy to ensure it becomes a tech superpower in the coming years. It emphasises a low regulation regime and closing the digital skills gaps that exist. Read more...

Vodafone report urges EU to embrace digitalisation for GDP boost

Paul Hill — Thu, 25 Feb 2021 15:52:01 +0000

Vodafone has released a new report which suggests that the European Union could boost its GDP by 7.2% per capita by 2027 if member states further embrace digitalisation in their economies. Read more...

Virgin Media study calls for more tech investment in the UK

Paul Hill — Mon, 15 Feb 2021 15:58:01 +0000

Virgin Media and the Centre for Economics and Business Research have published a report which calls on the UK to invest more in technology to see a £232 billion boost to the economy by 2040. Read more...

UK: £20 million fund for tech to build country's virus resilience

Paul Hill — Fri, 03 Apr 2020 15:14:01 +0000

The UK government has announced £20 million in funding for technology that will help make the country more resilient against outbreaks of diseases such as COVID-19. Each project can get up to £50,000. Read more...

Mexico's economy ministry suffers a cyber attack

Usman Khan Lodhi — Tue, 25 Feb 2020 10:42:02 +0000

Mexico's economy ministry detected a cyber attack on Sunday. It has since increased its security measures, the company said in a statement. It believes that no sensitive information was compromised. Read more...

Apple announces major U.S. expansion, plans to build a $1 billion campus in Austin

Jay Bonggolto — Thu, 13 Dec 2018 10:20:01 +0000

Apple has announced today a major expansion in the U.S., including a new campus in Austin in addition to its existing site in the area. The expansion is expected to create thousands of jobs. Read more...

Samsung joins partnership to input on AI best practices

Paul Hill — Fri, 09 Nov 2018 14:44:01 +0000

Samsung has announced that it has joined the Partnership on AI, an industry consortium that looks at various aspects of AI. Samsung wants to focus on AI's impacts on safety, societies, and economies. Read more...

Facebook is sharing Americans' data with researchers to study income inequality

Paul Hill — Tue, 20 Feb 2018 21:14:01 +0000

Stanford researchers led by Raj Chetty have been given access to data that Facebook holds on U.S. users. The fact that Facebook is sharing the data is raising questions about user privacy. Read more...

Apple vows to contribute $350 billion to U.S. economy, create 20,000 jobs

Muhammad Jarir Kanji — Wed, 17 Jan 2018 22:14:02 +0000

The Cupertino giant today announced it will be making a contribution of $350 billion to the U.S. economy over the next five years, creating 20,000 jobs and pay $38 billion in taxes to repatriate Read more...

Windows Store apps to cost more starting April

Shreyas Gandhe — Mon, 23 Mar 2015 02:48:01 +0000

Due to the strengthening of the US dollar, Microsoft has updated its pricing tiers for Windows Store apps and in-app purchases. Unfortunately this means prices in other currencies will be hiked. Read more...

Amazon shocks with net loss for quarter

Paul Ferson — Fri, 26 Jul 2013 15:26:22 +0000

Despite being a massive global retailer, Amazon has shocked with the announcement that they have recorded a loss for the quarter, due to increased spending on their own infrastructure. Read more...

PayPal to stop conversions of Argentine pesos to USD

Paul Ferson — Tue, 18 Sep 2012 21:03:30 +0000

After the government in Argentina passed a ruling to limit dependency on the US dollar, PayPal became the easiest method of converting. As a result, the functionality is to be pulled in Argentina. Read more...

Facebook shares reach all-time low

Paul Ferson — Wed, 01 Aug 2012 14:54:27 +0000

Facebook's stock prices reached an all-time low on Tuesday's trading, having declined 43% since their initial availability in May. Stocks were trading at just over $20 on the markets during the day. Read more...

Rough first quarter puts PS3 in sales lead

Paul Ferson — Thu, 10 May 2012 17:51:54 +0000

The result of the weakened global economy is being seen among console manufacturers, as sales figures decline during the first quarter of 2012. Read more...

Potential RIM sale permitted by Canadian government

Paul Ferson — Mon, 02 Apr 2012 23:30:52 +0000

Research in Motion could be sold in the near future; with the Canadian government having approved it, could an investor simply swoop in and buy them out? Read more...

Analysts believe Oracle could be having problems

Paul Ferson — Fri, 16 Mar 2012 16:56:58 +0000

The world's third-largest software maker could be having more internal issues than previously thought, with a previous explanation being questioned. Read more...

Best Buy UK to close after only a year

Paul Ferson — Mon, 07 Nov 2011 00:40:08 +0000

After only a year, the UK branch of Best Buy is to close. The company cites 'unprofitable operation', and the British-based Carphone Warehouse intends to close all eleven branches. Read more...

Oracle paying almost $200 million for bad sales practices

Paul Ferson — Fri, 07 Oct 2011 14:42:26 +0000

Oracle has been ordered to pay out in a settlement after supposedly lying in a contract dating back to 1998, by the General Services Administration. Read more...

Do we really want NFC payments?

Tzvi Friedman — Fri, 08 Apr 2011 16:35:05 +0000

I guess it all started with currency. It used to be that stuff had value, and if you wanted something that wasn’t yours, you’d have to give up some of you own stuff that had value... Read more...

US virtual economy to make billions

Matthew Hopson — Wed, 30 Dec 2009 10:48:13 +0000

The sale of virtual goods for social games, such as Farmville and Mafia Wars, are set to become worth $5 billion in the next 5 years according to industry experts. Sales of virtual goods are... Read more...

Apple unfazed by Windows 7 launch, says Analyst

Mon, 12 Oct 2009 23:08:48 +0000

The launch of Windows 7 on October 22 is unlikely to cause any significant damage to Mac sales, according to Wall Street analyst Brian Marshall of Broadpoint AmTech. Marshall came to this conclusion by analysing... Read more...