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Amazon reportedly plans to lay off 10,000 workers this week 00:00 00:0004:16GO LIVE Facebook Twitter Email Embed SpeedNormal Autoplay Amazon’s workforce reduction – the largest in its history – will begin Wednesday. Earlier this month, Amazon CEO Andy Jassy told employees in a blog post that the company was laying off about 18,000 people as it seeks to cut costs and would begin contacting impacted employees on Jan. 18. "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," Jassy said in the Jan. 4 post. "These changes will help us pursue our long-term opportunities with a stronger cost structure." Amazon declined to comment beyond the blog post. Ticker Security Last Change Change % AMZN AMAZON.COM INC. 98.12 +2.85 +2.99% Powered By The layoffs , which are just a fraction of its 1.5 million global workforce and part of the company’s ongoing annual operative review, will mostly impact the company’s Amazon Stores division — which encompasses its e-commerce business as well as company’s brick-and-mortar stores — and its PXT organizations, which handle human resources and other functions. Amazon’s workforce reduction – the largest in its history – will begin Wednesday. Jassy first […]

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Chronic delays and billions in overruns have set back the company’s space programs while nimbler rivals pose a longer-term threat. F or embattled Boeing, one thing that went right last year was NASA’s Artemis I mission. The aerospace giant’s Space Launch System, the most powerful rocket yet to fly, propelled a mannequin-filled crew vehicle to the moon and back in a dry run for a return of Americans to the lunar surface. Sure, the Space Launch System was four years behind schedule and came in at a 30% higher cost than the $9 billion initially budgeted to develop it. But Jim Chilton claims it as a win for Boeing’s space division, which he’s headed since 2016. “Last year we tasted a lot of success,” he told Forbes . His highlights include an unmanned test flight of Boeing’s Starliner capsule, which docked at the International Space Station as Boeing seeks to prove it can fulfill a NASA contract to ferry astronauts and cargo back and forth to the outpost, and the launch of the first two of a new class of software-defined commercial communications satellites that Boeing developed. But like the Space Launch System, Chilton’s successes come with asterisks: they […]

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The FBI building in Washington, DC. The following is an excerpt from "SPYFAIL: Foreign Spies, Moles, Saboteurs, and the Collapse of America’s Counterintelligence" by James Bamford. An alleged spy within the FBI may be largely responsible for unraveling the CIA’s Chinese spy network. Top editors give you the stories you want — delivered right to your inbox each weekday. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . The FBI’s website carries a stark warning. "The counterintelligence and economic espionage efforts emanating from the government of China," it says, "are a grave threat to the economic well-being and democratic values of the United States. Confronting this threat is the FBI’s top counterintelligence priority." But far worse is the threat to the lives of scores of courageous Chinese agents who have volunteered to spy for the U.S. within their own country. Over the past decade, more than a dozen agents recruited by the CIA have been killed or imprisoned. […]

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Lee and Penny Anderson on Tuesday pledged $75 million toward a new basketball and hockey arena at the University of St. Thomas. In the early 1960s, Lee Anderson was on his way to a military career with a civil engineering degree from West Point. But when his father, Reuben, had a heart attack in 1964, he returned to the Twin Cities to take over the family’s plumbing supply business in New Brighton. At the time, the successful small business had $1 million in annual revenue, he said in 2019. Five years later, Anderson acquired a fire sprinkler supply business — the first of many companies to be added to what would eventually become APi Group. By the time Anderson sold APi — a conglomerate of construction and fire-protection businesses —for $3.5 billion in 2019, its annual revenue was nearly $4 billion. On Tuesday, Anderson and his wife, Penny, pledged $75 million toward building a new basketball and hockey arena at the University of St. Thomas. In 2005, the Andersons gave $60 million to the university for the Anderson Athletic and Recreation Complex. University of St. Thomas President Rob Vischer said the couple "have been very generous benefactors of the […]

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BUFFALO, N.Y. — The price hikes on eggs continue to hit Western New Yorkers, leaving shoppers worrying whether grocery stores are price gouging those items. The Better Business Bureau says before you buy a carton of eggs, try comparing prices at other local grocery stores. You may have noticed that eggs are averaging $4.20 for a dozen – much higher than the $1.51 price tag in 2020. According to the U.S. Labor Statistics, the price of eggs has increased by 49% in the last two years. The Better Business Bureau is also offering some advice if you suspect any price gouging. The BBB says it happens during shortages or emergencies. But there are no recent reports of price-gouging eggs, but is investigating any reports of it. If you believe you’re being scammed, you can file a report on The Better Business Bureau website . They ask to take pictures of the items and compare them to other stores. And before you file a claim, they recommend rectifying the issue with the business owner. If unsatisfied, the Better Business Bureau will accept your complaint through their scam tracker and investigate the situation. If the business decides to respond, you will […]

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The Taliban took over Afghanistan in the summer of 2021 but governments around the world are still grappling on whether to recognize the hardline Islamist regime. The Twitter accounts of at least two Taliban officials were sporting blue ticks on Monday, per the BBC. That sparked an outrage and by Tuesday, the ticks appear to have been removed. Governments around the world the world are still grappling with whether to recognize the hardline Islamist regime. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Top Taliban officials and their supporters — who sported Twitter’s $8 a month blue verified badges up until Monday — appear to no longer be Twitter verified after a BBC report sparked outrage . The BBC reported Monday that the Twitter accounts of at least two Taliban officials and four well-known supporters of the regime were […]

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From tangible projects and collaborations to historic initiatives and breakthroughs. Unsplash By Sarita Nayyar, Managing Director, World Economic Forum Following the global upheaval of COVID-19, the continuing far-reaching effects of the war in Ukraine, and mounting climate-change related problems, the coming 12 months will be marked by unpredictability, further elevating the need for agile decision-making and responses. Business leaders not only have to manage the day-to-day challenges and risks to operations in their industry, but also navigate the fall-out from several on-going crises – cost-of-living crunch, global economic slowdown, soaring energy prices and climate disasters. And these are just the headline challenges. Shifting business models post-pandemic, as well as changing customer preferences and expectations add to the strategic demands. At the Forum, our work is, as it has been throughout our 53-year history, about impact. We strive to effect change to help improve the state of the world through all that we do. This has involved thousands of tangible projects and collaborations; breakthroughs that brought into being the likes of GAVI, the vaccine alliance; and many historic initiatives, including the Davos Declaration signed in 1988 by Greece and Turkey, which brought the two countries back from the brink of […]

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The massive increase in cyberattacks and the rapid evolution of advanced criminal techniques requires every single business in any sector to take protective measures to strengthen its cyber perimeter and minimize risk. To deal with this peril, businesses must incorporate security measures and comply with security standards and regulations to improve their cybersecurity defenses for their assets, revenue, and reputation. These are all proactive steps that a business must take as part of the initial lineup in the cybersecurity arena. Along with these protective measures, part of any sound cybersecurity practice must include crisis planning. Crisis Management Fundamentals A company is considered resilient if it can manage crises. To ensure resilience, effective crisis management must be understood, developed, deployed, and validated in the context of a range of disciplines, including business continuity and security management. This requires a forward-thinking, methodical strategy that builds structures, teaches people to operate within them, and is continuously, purposefully, and rigorously assessed and modified. The development of a crisis management capability must be a regular and continuous effort, proportional to the size and capabilities of an organization. Crisis management in cybersecurity must not be confused with risk management . Risk management is the defensive […]

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Photo Illustration: Jonathan Hurtarte/Bloomberg Tax; Photos: Getty Images Proposal calls on public companies to reveal segment expenses Limited plan doesn’t tackle complaints about dearth of segments It’s billed as the most significant change to segment reporting in financial statements since 1997, but to the investors and analysts waiting years for improvements to the way companies report their major business lines, it falls far short. The Financial Accounting Standards Board’s proposal calls on companies to break out new details about significant expenses in their operating segments—but it tinkers with existing rules rather than overhauling them. It also injects extra flexibility into an already judgment-laden set of rules, analysts and investors are telling the US accounting rulemaker. “It’s not something that I think is a game changer or something investors are going to be excited about in its current structure,” said David Gonzales, senior accounting analyst at Moody’s Investors Service. “We can’t say it will provide better information to investors.” The October proposal calls on public companies to break out the significant expenses in their operating segments—units within a company that earn money and incur expenses. The proposal does not define what “significant” means, another area of heartburn for analysts, as […]

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Before we discuss the sustainability trends shaping the business agenda in 2023, we wanted to reflect and take stock on the events of the past year. Every year has its defining events, but the last 12 months seemed to produce moments and issues of decadal if not generational consequence. Foremost among these, Russia’s invasion of Ukraine transformed geopolitics, economics, and sustainability, with the implications still playing out. In many ways, global societal interconnections and dependencies like social media and supply chains amplified the impacts of the invasion, particularly those relating to energy, food security, and migration inside Ukraine and beyond. Economic disruptions wrought by the war coupled with the highest inflation levels in decades further challenged government and business leaders. As 2023 begins, recession threatens, and societies are bracing for financial hardship after years of strong growth and low unemployment in many regions. Global and local corporations have been deeply affected by the war in Ukraine, its market impacts, and wider economic headwinds. This has forced the private sector to decide whether to fall back on fundamentals and lessen corporate sustainability efforts or whether ESG efforts should be maintained. While some companies have reduced sustainability activity and investment, more […]

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