The most important news from last week
EA will launch Marvel’s superhero games
Electronic Arts will release an Iron Man game as well as at least two more action-adventure titles cantered on characters from the Marvel world. The Iron Man game will have an original narrative focused on the life of fictitious billionaire Tony Stark, who is represented in the iconic superhero film franchise by Hollywood actor Robert Downey Jr. According to EA, the new games will be accessible on both consoles and PC.
Movement of EA stock price in the last five years. (Source: Trading Economics) *
Twitter sued for massive firing
Elon Musk’s takeover of Twitter is raising a lot of dust. First, the CEO was fire, then they announced that 8 USD monthly subscription will be needed to keep the blue icon for verified account. Twitter was also sued over Elon Musk's intention to fire off almost half of its workers, citing a class-action complaint filed in a San Francisco federal court. Twitter employees claim that the firm is firing employees without providing adequate notice, which is a violation of federal and California law.
Microsoft will continue to provide free tech support to Ukraine
As Russia's invasion of Ukraine continues, Microsoft said that it will provide free technological assistance to Ukraine until 2023. Microsoft announced an extra 100 million USD in technological assistance, increasing its total support for Ukraine to more than 400 million USD since the crisis began. Microsoft President said that the company's help will guarantee that government agencies, key infrastructure, and other sectors in Ukraine to continue to run their digital infrastructure.
Lyft firing, Amazon freezing hiring
Lyft said that it will lay off 13% of its staff, or around 683 individuals, in the ride-hailing company's latest cost-cutting measure in response to the failing economy. Companies across industries are slashing employment and shrinking operations to protect profits as decades-high inflation hurts consumer spending and drives up expenses for corporations. Amazon also announced to freeze hiring in its corporate workforce.
Goldman Sachs cut credit exposure
Goldman Sachs Group cut its credit exposure to Russia by 9% in the third quarter, to 205 million USD. Following Russia's invasion of Ukraine earlier this year, US banks have reduced their exposure to the country. Citigroup said in August that it will terminate its consumer and commercial banking operations in Russia beginning in the third quarter, with a 170 million USD charge estimated over the next 18 months.
Sources: Investing, Reuters, Bloomberg, Trading Economics
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