 |
|
|
|||||
Apple said on Monday it is cutting jobs across its sales teams to strengthen its customer engagement efforts, noting that only a small number of roles will be impacted by the layoffs. An Apple spokesperson told Reuters that the company is continuing to hire and the affected employees can apply for new roles. The impacted employees include account managers serving major businesses, schools and government agencies, according to Bloomberg News, which had reported the news earlier in the day. Staff who operate Apple’s briefing centers for institutional meetings and product demonstrations for prospective customers were also affected, Bloomberg said. One of the major targets of the layoffs was a government sales team working with agencies, including the U.S. Defense Department and Justice Department, per the report. The team had already been facing tough conditions after the 43-day government shutdown and cutbacks imposed by the Department of Government Efficiency, or DOGE, Bloomberg added. In the past few weeks, companies including Verizon, Synopsys and IBM have announced job cuts. Juby Babu and Stephen Nellis, Reuters
Category:
E-Commerce
Only a week after experiencing a dreaded death cross, and subsequently seeing its value fall to less than $81,000, Bitcoin is showing some signs of recovering. On Monday, BTC’s price topped $89,000, and as of early Tuesday, are hovering around $87,500. To be clear, the slump is far from overthe coin saw its price top $124,000 just last monthand no one can predict what will happen next, but it’s a clear upswing in momentum. All told, when Bitcoin bottomed out at $81,000, it had fallen around 35% off its high. There were several reasons for the selloff, including outflows from large institutional investors and broader economic uncertainty, among other things. It was a wipeout of around $1 trillion in market value. Sentiment may be on the upswing As for this week, its anyone’s guess how much momentum the cryptocurrency will have, but investors appear to be felling a little better. The Crypto Fear and Greed Index from CoinMarketCap, a sentiment indicator for the crypto market, was at 15 on Tuesday. Thats still in the extreme fear portion of the spectrum, but it’s up from low pint of 10, where the index was on November 21. For context, the index hit a high point for 2025 back in May, tallying a 76 and putting it in the greed spectrum. At the time, BTC was trading for around $111,000. So there has been a wild swing in both momentum and sentiment within the past six months. And though Bitcoin has regained its footing a bit over the past week, the question is whether that momentum can be sustained and if values can start pushing back toward all-time highs. What’s next for crypto? Perhaps the next catalyzing moment for the crypto market will come after the Federal Reserve’s December meeting next month. The Fed will meet on December 9 and decide whether to cut interest rates further or hold steadya decision that has been made more difficult by a lack of economic data (such as jobs reports) in recent months due to the government shutdown. The Fed and its chair, Jerome Powell, have been trying to balance concerns about persistent inflation and a weakening labor marketand doing so without data has it flying blind. Despite that, the odds of a rate cut appear to be the rise, and another cut could spur investors to put more money in stocks and the crypto markets. This story is developing…
Category:
E-Commerce
European and Asian shares mostly gained on Tuesday after U.S. stocks rallied on hopes the Federal Reserve will cut interest rates soon.The futures for the S&P 500 and the Dow Jones Industrial Average slipped 0.1%.Germany’s DAX edged 0.1% lower to 23,216.76 and the CAC 40 in Paris added 0.1% to 7,965.77. Britain’s FTSE 100 likewise gained 0.1%, to 9,542.55.In Asian trading, Tokyo’s Nikkei 225 picked up 0.1% to 48,659.52 as a plunge in technology giant SoftBank’s shares weighed on the market. It fell 10.3% on concerns that returns from its heavy investments in OpenAI may be threatened by the next generation Gemini artificial intelligence model that Google launched last week.In South Korea, the Kospi gained 0.3% to 3,857.78. Taiwan’s Taiex jumped 1.5%.Chinese markets also advanced. In Hong Kong, the Hang Seng climbed 0.7% to 25,894.55, while the Shanghai Composite index jumped 0.9% to 3,870.02.E-commerce giant Alibaba, which was due to report its earnings late Tuesday, gained 2.1% in Hong Kong.Australia’s S&P/ASX rebounded to edge 0.1% higher, closing at 8,537.00.U.S. markets will be closed on Thursday for the Thanksgiving holiday. A day later, it’s on to the rush of Black Friday and Cyber Monday.The U.S. stock market rallied on Monday, at the start of a week with shortened trading because of the Thanksgiving holiday.The S&P 500 climbed 1.5% in one of its best days since the summer. The Dow Jones Industrial Average rose 0.4%, and the Nasdaq composite jumped 2.7%.Stocks got a lift from rising hopes that the Fed will cut its main interest rate again at its next meeting in December, a move that could boost the economy and investment prices.The market also benefited from strength for stocks caught up in the artificial-intelligence frenzy. Alphabet, which has been getting praise for its Gemini AI model, rallied 6.3% and was one of the strongest forces lifting the S&P 500. Nvidia rose 2.1%.Monday’s gains followed sharp swings in recent weeks, not just day to day but also hour to hour, caused by uncertainty about what the Fed will do with interest rates and whether too much money is pouring into AI and creating a bubble. All the worries are creating the biggest test for investors since an April sell-off, when President Donald Trump shocked the world with his “Liberation Day” tariffs.Despite all the recent fear, the S&P 500 remains within 2.7% of its record set last month.Several tests for the market lie ahead this week. One of the biggest will arrive Tuesday when the U.S. government will deliver data on inflation at the wholesale level in September.Economists expect it to show a 2.6% rise in prices from a year earlier, the same as in August. A higher-than-expected reading could deter the Fed from cutting its main interest rate in December for a third time this year, because lower rates can worsen inflation. Some Fed officials have already argued against a December cut in part because inflation has stubbornly remained above their 2% target.Traders are nevertheless betting on a nearly 85% probability that the Fed will cut rates next month, up from 71% on Friday and from less than a coin flip’s chance seen a week ago, according to data from CME Group.In other dealings early Tuesday, U.S. benchmark crude oil lost 47 cents to $58.37 per barrel. Brent crude, the international standard, shed 49 cents to $62.23 per barrel.The dollar fell to 156.30 Japanese yen from 156.91 yen. The euro rose to $1.1534 from $1.1521.Bitcoin rose 1.6% to $86,836. It was near $125,000 last month. Elaine Kurtenbach, AP Business Writer
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||