News
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Robinhood lays off 23% staff, blaming crypto meltdown, inflation
The announcement followed closely on the heels of cuts in April, when Robinhood laid off 340 workers, or about 9% of its employees at the time. CEO Vlad Tenev cited further worsening of the economy, including inflation and the crash of the crypto market, which has "reduced customer trading activity and assets under custody"
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What Twitter's subpoenas say about its plan to fight Elon Musk in court
The subpoenas are part of efforts to help determine whether Musk had quietly abandoned his deal to acquire Twitter even before he told it of his plans to do so, which would breach his contract with the company, said two people familiar with Twitter's thinking
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Uber reports $2.6 billion loss, but revenue spike cushions blow
Uber primarily attributed the loss to the falling value of its investments in financially strapped companies such as Singapore's VTC Grab, US self-driving vehicle start-up Aurora and Indian food delivery service Zomato
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US sanctions Putin 'girlfriend,' more oligarchs for 'complicity' in Ukraine war
Also hit with US business bans were several other oligarchs believed to be close to Putin, four officials Russia has named to administer occupied territories in Ukraine, and around two dozen high technology institutes and companies, including key state-backed electronics entities
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Most households did not save more over pandemic
For savers, coronavirus restrictions and "fear of infection" were the most important drivers, the study said by the European Central Bank said. Those who saved less cited an "unexpected income loss" as the most important reason why
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Why war is spurring Ukrainian efforts to legalise same-sex marriages
Under Ukrainian Ministry of Defense regulations, the military must inform the parents and spouse or other close relatives of a soldier who is killed. But in a country that does not recognize gay marriage or even civil unions, none of that applies to a same-sex partner
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Pixar's ousted founder returns with Apple and 'Luck'
He built Pixar from scratch, the "Toy Story" and "Cars" franchises, revived a moribund Walt Disney Animation, won Oscars but almost overnight his achievements became a footnote. Now, John Lasseter, who was toppled by allegations about his behavior in the workplace, is back with Apple and his latest release on its streaming platform
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India's richest go head-to-head in 5G auction
Mukesh Ambani's Jio swept up the lion's share, as the market leader bid Rs 881 billion for more than a third of the available spectrum, while rival Bharti Airtel, led by Sunil Mittal, bid Rs 431 billion for just over a quarter of the spectrum
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Richer childhood friends boost future income, Facebook data shows
An analysis of 21 billion Facebook friendships shows that children from poorer homes are likely to earn more later in life if they grow up in areas where they can become friends with wealthier kids
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China population to begin shrinking by 2025
The world's most-populous country has been grappling with a looming demographic crisis as it faces a rapidly ageing workforce, slowing economy and its weakest population growth in decades
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For India's efforts to ban disposable plastic, one state offers a playbook
Tamil Nadu was not the first state in India to try to curtail plastic pollution, but unlike others, it was relentless in enforcing the law. It's far from an outright success but the state's experience offers lessons for the rest of India, where an ambitious countrywide ban on making, importing, and selling and using some single-use plastic took effect this month