Microsoft to lay off more employees months after letting 10,000 workers go

Microsoft confirmed Monday that it’s eliminating additional jobs, a week after the start of its 2024 fiscal year. The cuts are in addition to the downsizing announced in January that resulted in 10,000 layoffs. The software maker also disclosed a small number of cuts this time last year. GeekWire reported on the latest cuts earlier Monday. Amazon, Google and other large technology companies have also scaled back this year after adding headcount rapidly to meet rising demand during the Covid pandemic. Microsoft has said in recent months that clients are looking for ways to save money on their cloud computing […]

Businesses expect slowing prices, wage increases: BoC survey – Business News

Photo: The Canadian Press Businesses continue to expect wage and price increases to be larger than normal, but they are shifting to closer to what they were before the pandemic, a new survey by the Bank of Canada suggests. In its business outlook survey released Friday, the central bank said for the first time since the beginning of the pandemic businesses on balance expected slower wage growth over the next year. Firms on balance also expected their input and output prices to grow at a slower rate over the next 12 months. “Although firms still see cost pressures and labor […]

Here’s why the PGA Tour just merged with LIV Golf

The PGA Tour announced Tuesday it would merge with LIV Golf, a Saudi-backed men’s golf organization that formed last year to compete with the PGA. News of the merger sent shock waves through the sports world and even reached the highest echelons of the US government, after a reporter sought comment from the Biden administration about the Saudi government’s taking such a large stake in men’s golf. Biden spokeswoman Karine Jean-Pierre declined to comment. Here’s what it all means. What is LIV Golf? LIV was created in 2022 by Saudi Arabia’s Public Investment Fund (PIF) alongside two of the world’s […]

AbCellera draws $300 million in government funding – Business News

Photo: Nelson Bennett. Francois-Philippe Champagne, Canadian minister of Innovation, Science and Industry, was in Vancouver Wednesday announcing $225 million in federal funding for AbCellera. Federal and provincial officials announced $300 million in funding today for the new $700 million biotech campus built by AbCellera (Nasdaq:ABCL )in Mount Pleasant. AbCellera has emerged as one of BC’s most successful biotech companies. The company’s prospects are worried during the COVID-19 pandemic because it makes the therapeutic antibodies used in the development of drugs used to treat COVID-19. Its antibodies have been used to treat more than 2.5 million patients. The company landed a […]

Canada must lead the way on expelling Russia from the UN

Article content Canada has not been punched above its weight on the world stage since the Liberals came to power in 2015, but could vindicate itself by leading a movement to immediately expel Russia from the United Nations and its Security Council. Article content It’s unacceptable that Russia remains on the United Nations Security Council and keeps a veto that has basically deadlocked the body over the years and prevented it from taking action against the invasion of Ukraine. Article content Russia and four other countries — China, the United States, France and Britain — have permanent seats on the […]