Bill Winters told investors in Hong Kong that the bank’s HR, risk and compliance functions will shrink by more than 15% over five years, with the headcount efficiency aimed at lifting income-per-employee 20% by 2028. Standard Chartered will cut more than 15% of its back-office roles by 2030, chief executive Bill Winters told investors at […]
The two have formed a joint venture to build a US-based AI compute-as-a-service business on Google’s TPUs, with $5bn of Blackstone equity, $25bn total deal value including leverage, and 500 MW of capacity targeted for 2027. Blackstone and Google have formed a joint venture to build a US-based AI compute-as-a-service business on Google’s tensor processing […]
SpaceX has raised the price of every consumer Starlink plan in the United States, adding $5 to $10 per month across its residential and mobile tiers while doubling the cost of its budget Standby Mode from $5 to $10. The increases, which took effect immediately for new subscribers and will apply to existing customers from […]
Meta will begin cutting approximately 8,000 jobs on 20 May, the largest single round of layoffs the company has undertaken since its 2023 restructuring, in a move that lays bare the scale of Mark Zuckerberg’s bet that artificial intelligence infrastructure is worth more than the people it replaces. The company is also cancelling 6,000 open […]
Coursera has announced a $500 million share repurchase programme, its first buyback since going public in 2021 and one that arrives exactly one week after the online learning company completed its merger with Udemy. The board approved the programme on Sunday 18 May 2026, funding it from existing cash balances and cash flow from […]
AI companies are not just changing the way people work. They are changing the kinds of roles that exist. Org charts are morphing as an entirely new class of jobs emerges, some with titles that did not exist two years ago, others that represent old professions reborn inside the technology industry. The hiring sprees stand […]
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Gemini Space Station shares surged more than 20% in premarket on Friday after the Winklevoss Capital Fund bought $100m of stock at $14, well above Thursday’s $5.26 close, and the exchange reported a smaller Q1 loss than expected. The Winklevoss twins have written a $100m cheque to their own company. Winklevoss Capital Fund, the family […]
