Business - Page 9

Atlassian Cuts 1,600 Jobs in Major AI Pivot and Replaces CTO With Two AI-Focused Leaders Business

Atlassian Cuts 1,600 Jobs in Major AI Pivot and Replaces CTO With Two AI-Focused Leaders

Atlassian eliminates 1,600 positions and replaces its CTO with two AI-focused technology leaders as part of a sweeping restructuring to fund artificial intelligence investment.

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Federal Reserve Holds Interest Rates Steady as Oil Crisis Clouds Inflation Outlook Business

Federal Reserve Holds Interest Rates Steady as Oil Crisis Clouds Inflation Outlook

The Federal Reserve kept its benchmark interest rate unchanged at the 3.5%-3.75% range following the March FOMC meeting, with officials signaling only one rate cut for 2026 amid rising inflation concerns driven by the Middle East oil crisis.

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Global Oil Crisis Deepens as Iran War Disrupts Strait of Hormuz and UAE Energy Infrastructure Comes Under Attack Business

Global Oil Crisis Deepens as Iran War Disrupts Strait of Hormuz and UAE Energy Infrastructure Comes Under Attack

Oil prices surge past 100 dollars per barrel as Iran partially blocks the Strait of Hormuz, the US strikes Kharg Island, and UAE energy infrastructure comes under attack in the largest supply disruption in global oil market history.

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US GDP Growth Revised Sharply Down to 0.7% as Inflation Pressures Persist Business

US GDP Growth Revised Sharply Down to 0.7% as Inflation Pressures Persist

The Commerce Department revised US fourth-quarter GDP growth down to just 0.7 percent, about half the original 1.4 percent estimate, as the government shutdown, weak consumer spending, and persistent inflation weigh on the economy.

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Oracle Surges on Record AI Cloud Earnings as Meta Acquires AI Social Network Moltbook Business

Oracle Surges on Record AI Cloud Earnings as Meta Acquires AI Social Network Moltbook

Oracle shares jumped 9-15% on record AI cloud earnings with 243% AI infrastructure revenue growth, while Meta confirmed its acquisition of viral AI social network Moltbook.

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Oil Prices Crash 13% as Markets Rebound and IEA Proposes Largest-Ever Reserve Release Business

Oil Prices Crash 13% as Markets Rebound and IEA Proposes Largest-Ever Reserve Release

Crude oil plunged nearly 12% while U.S. stock markets rebounded, as the International Energy Agency proposed its largest-ever strategic reserve release to stabilize global energy markets.

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Global Markets Crash as Oil Soars Above $116 Amid Iran War Crisis Business

Global Markets Crash as Oil Soars Above $116 Amid Iran War Crisis

Oil prices surge over 27% in the largest single-day gain since 1988 as Iran closes the Strait of Hormuz, triggering a global market rout and raising fears of stagflation.

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Block Slashes 4,000 Jobs as Jack Dorsey Bets on AI to Replace Nearly Half the Workforce Business

Block Slashes 4,000 Jobs as Jack Dorsey Bets on AI to Replace Nearly Half the Workforce

The payments company behind Square and Cash App announced one of the largest AI-driven layoffs in corporate history, with CEO Jack Dorsey predicting most companies will follow suit within a year.

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Trump Raises Global Tariffs to 15 Percent After Supreme Court Strikes Down Previous Levies Business

Trump Raises Global Tariffs to 15 Percent After Supreme Court Strikes Down Previous Levies

President Trump escalates his trade war by raising a new global tariff to 15 percent under a different legal authority, just days after the Supreme Court ruled his earlier tariffs unconstitutional.

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US Supreme Court Strikes Down Trump Tariffs as President Imposes New 10 Percent Global Levy Business

US Supreme Court Strikes Down Trump Tariffs as President Imposes New 10 Percent Global Levy

The Supreme Court ruled 6-3 that Trump exceeded his authority under the IEEPA to impose sweeping tariffs, but the president responded hours later by signing a new 10 percent global levy under the Trade Act of 1974.

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UK Unemployment Hits Five-Year High at 5.2 Percent as Youth Joblessness Soars to 14 Percent Business

UK Unemployment Hits Five-Year High at 5.2 Percent as Youth Joblessness Soars to 14 Percent

Official figures show UK unemployment has risen to 5.2 percent, the highest in five years, with 1.883 million people out of work and youth unemployment reaching 14 percent amid weakening hiring activity.

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Heineken to Cut 6,000 Jobs as Global Beer Demand Weakens Business

Heineken to Cut 6,000 Jobs as Global Beer Demand Weakens

Heineken announces plans to cut up to 6,000 jobs over two years as beer volumes decline and the brewer accelerates AI-driven cost savings under its EverGreen 2030 strategy.

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