Behind the wave of white-collar layoffs: Old-school cost cutting, tariffs and, yes, AI
Amazon, Target and UPS are laying off thousands of employees, but the reasons behind the cuts go a lot deeper than AI.
Economic news
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Gunvor warns on fuel supplies as it rushes to seal $22bn Lukoil deal
Swiss trader’s audacious swoop on Russian group’s overseas assets revives industry speculation over Kremlin ties
Gunvor warns of fuel shock as $22bn Lukoil deal prompts concern over Russia ties
Swiss trader’s audacious swoop on Russian group’s overseas assets revives industry speculation over Kremlin links
Why Europe’s electrification push remains ‘stagnant’
The EU is missing an opportunity to save on energy costs and reduce its reliance on foreign countries
BP reports better than expected quarterly profits
Chief Murray Auchincloss refocuses BP on core oil and gas business
BP boss says lower oil prices will not derail oil major’s turnaround efforts
UK company posts second successive quarter of better than expected profits