Microsoft announced a major reorganization on Wednesday that will include thousands of layoffs, largely in sales. The job cuts amount to less that 10 percent of the company’s total sales force, and most will be outside the U.S., the company said. Reports from last week suggested this was going to happen, and that Microsoft was […]
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Active managers, after years of suffering through a low-volatility stock market that has made their lives miserable, are finally showing signs of life. The first half of 2017 saw 54 percent of large-cap managers beat their benchmarks. That number may not sound remarkable on its face but is actually the first time a majority achieved […]
Read moreAn important moment in the self-diving car debate came on May 7, 2016, when Joshua Brown lost his life after his Tesla vehicle crashed into a semi-truck trailer. Brown had engaged Tesla’s Autopilot feature, and the software didn’t detect the white side of the trailer against the daytime sky. The car slammed into the truck […]
Read moreAmid the turmoil at Uber that resulted in Travis Kalanick’s stepping down as chief executive, the company announced a series of changes in late June aimed at improving its drivers’ work experience, including a new tipping option in its passenger app. But even as Uber makes a concerted effort to win over drivers, it has […]
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The opioid crisis has major costs for the U.S. economy, including the labor market, David Mericle, senior U.S. economist at Goldman Sachs, said in a Wednesday note. The report is one of the first from a major Wall Street bank focused on the growing epidemic killing more than 90 Americans every day. “The opioid epidemic […]
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HE WAS back in favour, or so it appeared. After spending several months under house arrest in late 2014, Vladimir Yevtushenkov, a Russian oligarch, relinquished control of Bashneft, a midsized oil firm, to the state. “If you like another company tomorrow and want to take it, you are welcome,” he told Vladimir Putin at the […]
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OUTSIDE a squat grey building in Santa Monica, the California sun melts the tar. Inside, in a dark room roughly the size of a small shipping container, two men are exploring the world by means of virtual reality (VR). They squash spiders in an abandoned temple, hit a home run at Yankee Stadium and float […]
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NIKLAS OSTBERG spent much of his youth as a competitive cross-country skier in Sweden. Then he ditched his skis for a less healthy cause. A decade ago he founded a firm that matched online pizza orders to restaurants. It grew into Delivery Hero, a Berlin-based service that last year dispatched nearly 200m takeaway dinners to […]
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THE European Commission celebrated 25 years of the EU’s internal aviation market in June. The liberalisation of European aviation, which allowed EU carriers to fly between any airport within the bloc, opened the skies to the masses. Greater choice of airlines has cut fares—by as much as 96% between Paris and Milan since 1992, for […]
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JUSTIN WILLIAMS takes off a virtual-reality (VR) headset and wobbles away from a demo area at E3, the world’s largest gaming convention, in Los Angeles. The bottoms of his feet and calves are “on fire,” he says. Mr Williams, a 32-year-old former marine, was playing “Sprint Vector”, a VR running game: players swing hand-held controllers […]
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