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Samsung To Cut Chip Production By 25%

Samsung To Cut Chip Production By 25%

Nathan Jolly May 1, 2023 No Comments

Samsung is expected to cut production of memory chips by as much as a quarter, after remarking on its inventory glut in last week’s earnings call. This comes after Samsung’s…

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Medibank Won’t Release Cyber Attack Report, Citing Security Risks

Medibank Won’t Release Cyber Attack Report, Citing Security Risks

Nathan Jolly April 28, 2023 No Comments

Medibank has commissioned a report into its cyber attack, but won’t be making it public, citing security risks. Australia’s largest health insurer said it has already implemented recommendations from the…

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LG Bucks TV Slowdown With $1.7 Billion First-Quarter Profit

LG Bucks TV Slowdown With $1.7 Billion First-Quarter Profit

Nathan Jolly April 28, 2023 No Comments

LG Electronics has posted its second highest first-quarter revenue in the company’s history, bringing in $22.9 billion. The Korean company posted operating profits of $1.69 billion, its third-highest for the…

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Australia Post To Cut 400 Jobs

Australia Post To Cut 400 Jobs

Nathan Jolly April 28, 2023 No Comments

Australia Post will cut 400 workers after posting a first-half loss of $189 million. Addressing the American Chamber of Commerce in Melbourne yesterday, Paul Graham said the government needed to…

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PC Slump Continues As Intel Posts $4.16 Billion Loss

PC Slump Continues As Intel Posts $4.16 Billion Loss

Nathan Jolly April 28, 2023 No Comments

Intel has posted its largest-ever quarterly decline, with revenue falling by 36 per cent. The PC giant posted revenue of A$17.64 billion for the first quarter, with sales falling to…

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Dropbox To Axe 16% of Workforce

Dropbox To Axe 16% of Workforce

Nathan Jolly April 28, 2023 No Comments

Dropbox is the latest tech giant to slash its employee numbers, with the CEO signalling a pivot towards AI. Dropbox will cut 500 jobs, roughly 16 per cent of its…

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Sony Expected To Post 36% Drop In Net Profit

Sony Expected To Post 36% Drop In Net Profit

Nathan Jolly April 28, 2023 No Comments

Sony Group is expected to post a 36 per cent drop in net profit when it posts its quarterly financials tomorrow. This is according to a poll of analysts by…

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Amazon Shares Up 10% As Sales Rebound

Amazon Shares Up 10% As Sales Rebound

Nathan Jolly April 28, 2023 No Comments

Amazon shares rose more than 10 per cent after the company smashed Wall Street sales projections in its first-quarter financials. The e-commerce giant posted sales of A$192.25 billion, an increase…

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Amazon Begins New Rounds Of Mass Layoffs

Amazon Begins New Rounds Of Mass Layoffs

Nathan Jolly April 27, 2023 No Comments

Amazon has started its latest round of layoffs, informing Amazon Web Services personnel in numerous territories their roles were eliminated. This round will see 9,000 employees sacked, mainly from AWS.…

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Disney Sues Ron DeSantis Over ‘Don’t Say Gay’ Retaliation.

Disney Sues Ron DeSantis Over ‘Don’t Say Gay’ Retaliation.

Nathan Jolly April 27, 2023 No Comments

The Walt Disney company has filed a lawsuit against Florida governor Ron DeSantis and other high-levels officials, claiming a crusade against the company for its stance on the state’s “Don’t…

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