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Tag: Financial

Microsoft to cut 3% of its global workforce despite substantial profits

Microsoft is cutting 3% of its workforce, impacting over 6,500 roles, despite substantial profits and recent growth across the company.

iPhone 16E helps Apple top the global smartphone market in early 2025

Apple tops the smartphone market in Q1 2025 with iPhone 16E, beating Samsung and showing growth across emerging markets.

Apple earned over US$10 billion from U.S. App Store commissions in 2024

Apple made over US$10B in 2024 from U.S. App Store commissions, as a court ruling forced rule changes and sparked further legal debate.

Financial sector outages cost US$2.2 million per hour, says New Relic report

Financial firms face US$2.2M/hour in outage costs; New Relic report shows AI-led observability as key to resilience and digital success.

Spotify sees record operating income and adds 5 million new premium users

Spotify adds 5M new premium users and hits record income as AI playlists and podcasts drive continued growth.

Tesla profits drop sharply as sales weaken and Musk backlash grows

Tesla’s profits fall 71% as sales dip, political backlash grows, and hopes turn to cheaper EVs and robotaxi plans.

Intel prepares for major layoffs ahead of Q1 earnings

Intel plans to cut over 21,000 jobs this week, aiming to rebuild its focus and engineering culture under new CEO Lip-Bu Tan.

GenAI investment could unlock ‘co-working’ future in financial services, says Moody’s

Moody’s sees GenAI transforming finance with AI co-workers, helping firms grow, automate decisions, and lower access barriers.

Shoppers rush to Apple Stores as price fears grow

US iPhone buyers rush to stores as tariffs rise; Apple flies in stock to avoid price hikes, while Singapore braces for possible increases.

Airwallex reports strong revenue growth in Singapore and reveals SME trends for 2025

Airwallex reports 153% revenue growth in Singapore for 2024 and unveils SME trends shaping business outlook in 2025.

Qualcomm expands AI research with MovianAI acquisition

Qualcomm has acquired Vietnamese AI research firm MovianAI to boost its AI development in smartphones, PCs, and software-defined vehicles.

Huawei reports 38% revenue surge as smartphone sales soar

Despite US sanctions, Huawei’s consumer business revenue surged 38% in 2024, driven by strong smartphone sales and home-grown chip production.