Grubhub lays off 15% of corporate workforce, or about 400 employees
Food delivery company Grubhub said it would lay off 15% of its corporate workforce, or 400 employees, citing a need to maintain competitiveness.
JPMorgan prepared to pay $290 million in settlement with Jeffrey Epstein victims
Other suits in the Epstein matter remain open, however, including the U.S. Virgin Islands’ suit and a case against former executive Jes Staley.
HSBC builds innovation division from the bones of collapsed SVB UK
HSBC unveiled its new HSBC Innovation Banking unit Monday, following its eleventh-hour rescue of the U.K. subsidiary of SVB in March.
Nio cuts prices for its cars — and delays business expansion plans
Chinese electric car brand Nio cut prices for its cars by the equivalent of $4,200 and ended free battery swaps for new buyers.
Goldman Sachs slashes oil price forecast by nearly 10% as Russian supply recovers
Russia’s oil production has remained resilient even in the face of Western sanctions.
A subsection of tech is set to be worth $1 trillion. But taboos are holding it back
The FemTech sector is set to be worth $1 trillion by 2027, but the “taboo” nature of women’s health is one factor preventing the industry from getting funding.
UBS says it has completed the takeover of stricken rival Credit Suisse
Swiss bank UBS released an open letter Monday saying that it had formally completed the takeover of its rival Credit Suisse.
Saudi Arabia signs $5.6 billion deal with Chinese parent of high-end EV brand HiPhi
Part of the Saudi plan is to develop a domestic electric vehicle manufacturing industry. Human Horizons manufactures EVs under the HiPhi brand in China.
Crypto prices stabilize after plunging on SEC crackdown jitters
Crypto prices are showing signs of stabilization after a market sell-off.
Ahead of Blinken’s Beijing visit, Singapore urges the U.S. and China to stave off conflict
Confrontation and conflict between China and the U.S. is “not an inevitability,” Singapore Deputy Prime Minister Heng Swee Kiat said.
