Snap is laying off roughly 16 percent of its global workforce in a cost-cutting effort to chase improved profitability with the help of AI. The cuts will impact around 1,000 full-time employees, according to a memo sent to staffers from Snap CEO Evan Spiegel. An additional 300 open roles are also being closed. "While these changes are necessary to realize Snap's long-term potential, we believe tha...
Snap is laying off roughly 16 percent of its global workforce in a cost-cutting effort to chase improved profitability with the help of AI. The cuts will impact around 1,000 full-time employees, according to a memo sent to staffers from Snap CEO Evan Spiegel. An additional 300 open roles are also being closed. "While these changes are necessary to realize Snap's long-term potential, we believe that rapid advancements in artificial intelligence enable our teams to reduce repetitive work, increase velocity, and better support our community, partners, and advertisers," Spiegel wrote in the memo, which was included in the company's 8-K filing . … Read the full story at The Verge.
Parsons ( PSN ) said that its joint venture with GSI Americas was awarded a $25M contract by the United States Coast Guard to provide program management services. The contract includes a one-year base period with four additional one-year options. The work will focus on overseeing and coordinating projects aimed at upgrading Coast Guard assets, modernizing technology and training centers, and impro...
Parsons ( PSN ) said that its joint venture with GSI Americas was awarded a $25M contract by the United States Coast Guard to provide program management services. The contract includes a one-year base period with four additional one-year options. The work will focus on overseeing and coordinating projects aimed at upgrading Coast Guard assets, modernizing technology and training centers, and improving shore infrastructure and operational capabilities. PSN ( PSN ) stock price traded about 2% lower on Wednesday during pre-market trade. More on Parsons Parsons: A More Balanced Situation Here Parsons Corporation (PSN) Presents at Barclays 43rd Annual Industrial Select Conference Transcript Parsons Corporation (PSN) Q4 2025 Earnings Call Transcript Parsons selected for 16-year, 3.25-mile NYC's Newtown Creek Tunnel project Baird turns cautious on engineering firms ahead of earnings, downgrades Parsons
Luis Alvarez/DigitalVision via Getty Images Introduction: Deutsche Telekom In The U.S. Wireless Major League Since Five Years Through T-Mobile U.S. When I last wrote an article about Deutsche Telekom ( DTEGF )( DTEGY ), titled " The Case For Deutsche Telekom Next To AT&T and Verizon ", it was the start of 2021 and the merger between Sprint and T-mobile US ( TMUS ) had just concluded. Deutsche Tele...
Luis Alvarez/DigitalVision via Getty Images Introduction: Deutsche Telekom In The U.S. Wireless Major League Since Five Years Through T-Mobile U.S. When I last wrote an article about Deutsche Telekom ( DTEGF )( DTEGY ), titled " The Case For Deutsche Telekom Next To AT&T and Verizon ", it was the start of 2021 and the merger between Sprint and T-mobile US ( TMUS ) had just concluded. Deutsche Telekom had obtained actual majority ownership of the merged U.S. entity through shares and call options. There was plenty to write about then, because the Sprint-T-mobile merger had significant consequences for both Deutsche Telekom ánd the U.S. wireless competitive landscape. As an introduction, I'd like to quickly recap the impact of the events from five years ago, because it's still very relevant context for this article. In my opinion, Deutsche Telekom's business can't be properly understood without going into the Sprint - T-mobile U.S. merger. Prior to the merger, the Deutsche Telekom's business was equally split over the U.S. and Germany/Europe with revenue from both regions being just over $40B. The merger with Sprint resulted in an enlarged T-mobile U.S. and this meant that Deutsche Telekom, as the owner, became primarily a U.S. telco. A major part of the total company revenue was suddenly U.S. generated. The German home market and some other European countries, jointly generated only a smaller part of the total revenue. The image below with the revenue split per region in 2025 illustrates the importance of the U.S. market for Deutsche Telekom. It shows that $90.3B in revenue of the group total of 120.9B euro and $73.3B of the total 101.1B euro service revenue came from the U.S. So, from a revenue perspective, Deutsche Telekom is now primarily an American company with roots in Germany. Deutsche Telekom revenue split 2025 (2025 Earnings presentation) The merger with Sprint also had a major impact on the competitive landscape in wireless communications in the U.S.: the p...
Solaria Energía y Medio Ambiente SA is in talks to join a state-backed consortium seeking to develop a €4 billion ($4.7 billion) data center hub in Spain, part of broader European efforts to expand digital infrastructure, according to people familiar with the matter. The company is discussing an equity investment in the group, which is led by Telefónica SA and ACS SA , the people said. No decision...
Solaria Energía y Medio Ambiente SA is in talks to join a state-backed consortium seeking to develop a €4 billion ($4.7 billion) data center hub in Spain, part of broader European efforts to expand digital infrastructure, according to people familiar with the matter. The company is discussing an equity investment in the group, which is led by Telefónica SA and ACS SA , the people said. No decision has been made and Solaria could still decide not to join the group. The venture’s shareholder and financing structure is still under discussion, the people said. Funding is expected to include equity contributions from partners, as well as debt and significant public support from the EU. The consortium is among dozens competing for one of five so-called gigafactory projects the European Union is expected to award as soon as May. These large-scale computing hubs form part of a broader €200 billion EU plan to boost artificial intelligence development and triple processing capacity over the next five to seven years. Spain has made securing one of the projects a priority, viewing it as key to advancing its technology sector. The state-owned digital investment holding company SETT has joined Telefónica and ACS in the consortium. Spokespeople for Solaria, Telefónica and ACS declined to comment. The gigafactory’s total enterprise value could be around €4 billion, according to two of the people. The facility is expected to launch with an initial capacity of 150 megawatts, with plans to scale up to one gigawatt over time, they said. Originally a renewable energy producer, Solaria has in recent years expanded into data centers and battery storage as part of a push to reposition itself as a provider of critical infrastructure. The company has set up a dedicated data center unit and earlier this year announced several agreements to supply power to one of Spain’s largest data center developers.
Gabon ’s dollar bonds sold off the most in more than a year after the International Monetary Fund ’s latest report indicated the country is facing worse budget pressures than expected. The central African nation’s three dollar-denominated bonds were the worst performers across emerging markets on Wednesday, bucking positive sentiment spurred elsewhere by hopes of a peace deal in the Middle East. I...
Gabon ’s dollar bonds sold off the most in more than a year after the International Monetary Fund ’s latest report indicated the country is facing worse budget pressures than expected. The central African nation’s three dollar-denominated bonds were the worst performers across emerging markets on Wednesday, bucking positive sentiment spurred elsewhere by hopes of a peace deal in the Middle East. Its notes due February 2031 fell more than three cents to trade at 84.97 cents on the dollar as of 12:15 a.m. in London, according to CBBT composite pricing. The yield jumped to 10.7%, having fallen into the single digits earlier this week for the first time since late 2024. Securities maturing July 2031 and in 2029 shed more than 2.5 cents, while Gabon’s yield spread over Treasuries widened by 86 basis points to 760 basis points, according to indicative intraday data from a JPMorgan Chase & Co index . The selloff follows the release of the IMF’s World Economic Outlook report which showed a worsening financial position in Gabon. While Gabon — a member of the Organization of the Petroleum Exporting Countries — benefits from higher oil prices, the report projected the country’s deficit at 10% this year, compared to last year’s 8.5%. The gap is expected to widen further to 11.2% in 2027 and to 12% in 2028, according to the IMF. These projections are wider than what Gabon had previously revealed, said Leo Morawiecki , an emerging markets analyst at Abrdn Investments Ltd. He noted that the new projections come shortly after Gabon formally requested an IMF program, and confirm investors’ fears it had been underclubbing its budget woes. “I always thought they were under reporting their fiscal and debt numbers,” Morawiecki said. “Gabon is now being transparent in the hope it will get them an IMF deal.” Read: Gabon’s Dollar Bonds Rally After Country Seeks New IMF Program Gabon is due to hold discussions about its financing program at this week’s IMF/World Bank Spring Meetings. Presid...
Hong Kong’s sole legal betting operator had earmarked HK$1 billion (US$127.7 million) and hired 180 people to develop a basketball wagering system, but will now take a financial hit after the government announced this week it was halting plans for its roll-out, a source has said. The source close to the Hong Kong Jockey Club told the South China Morning Post on Wednesday that it had already invest...
Hong Kong’s sole legal betting operator had earmarked HK$1 billion (US$127.7 million) and hired 180 people to develop a basketball wagering system, but will now take a financial hit after the government announced this week it was halting plans for its roll-out, a source has said. The source close to the Hong Kong Jockey Club told the South China Morning Post on Wednesday that it had already invested HK$400 million for preparatory work, including setting up a dedicated basketball betting system,...
MBA Mortgage Applications Composite Index: +1.8% to 281.0, compared to -0.8% to 276.0 in the prior week. Purchase Index: -1.0% to 159.5, vs. +1.1% to 161.1 a week ago. Refinance Index: +5.1% to 966.8, vs. -2.8% to 919.9 in the prior week. 30-year fixed-rate mortgages came in at 6.42%, compared to 6.51% last week. "Given the evolving situation in the Middle East and its impact on energy and commodi...
MBA Mortgage Applications Composite Index: +1.8% to 281.0, compared to -0.8% to 276.0 in the prior week. Purchase Index: -1.0% to 159.5, vs. +1.1% to 161.1 a week ago. Refinance Index: +5.1% to 966.8, vs. -2.8% to 919.9 in the prior week. 30-year fixed-rate mortgages came in at 6.42%, compared to 6.51% last week. "Given the evolving situation in the Middle East and its impact on energy and commodity prices, mortgage rates declined last week," said Mortgage Bankers Association Economist Joel Kan. "Purchase activity remained subdued as potential homebuyers remained hesitant given the current economic uncertainty, which kept purchase applications below last year's level for the second consecutive week," said Kan.
Traverse theatre, Edinburgh Jess Brodie’s monologue about life on the brink of parenthood is both witty and gripping There are few transitions in life more profound than becoming a parent. Out go late nights and long lie-ins. In comes responsibility. It is an experience that demands redefinition, turning you from cared-for to carer, solo player to team captain. Even as it approaches, you know it w...
Traverse theatre, Edinburgh Jess Brodie’s monologue about life on the brink of parenthood is both witty and gripping There are few transitions in life more profound than becoming a parent. Out go late nights and long lie-ins. In comes responsibility. It is an experience that demands redefinition, turning you from cared-for to carer, solo player to team captain. Even as it approaches, you know it will change you. This is the still point of the turning world that playwright Jess Brodie identifies: not the birth, but the moment before. A time to look back, reflect and reappraise as much as to speculate on the unknown path ahead. Continue reading...
Kazyaka/iStock via Getty Images Aurora Cannabis ( ACB ) has acquired Safari Flower Company for about C$26.5M, including up to C$2M in contingent cash payments. As consideration on closing, Aurora issued the selling shareholder 2,417,180 common shares and paid the selling shareholder C$15M in cash, subject to customary adjustments post-closing. Safari Flower’s 59,000-square-foot EU GMP-certified in...
Kazyaka/iStock via Getty Images Aurora Cannabis ( ACB ) has acquired Safari Flower Company for about C$26.5M, including up to C$2M in contingent cash payments. As consideration on closing, Aurora issued the selling shareholder 2,417,180 common shares and paid the selling shareholder C$15M in cash, subject to customary adjustments post-closing. Safari Flower’s 59,000-square-foot EU GMP-certified indoor cultivation and manufacturing facility in Ontario, Canada, will provide Aurora Cannabis ( ACB ) with incremental capacity that is closely aligned with its existing cultivation and manufacturing sites. The increased capacity will be used to supply EU GMP flower to Aurora's key international markets, including Germany, Australia, Poland, and the UK, and support further market expansion. This transaction is expected to deliver positive adjusted EBITDA contributions in fiscal year 2027, with incremental benefits in fiscal year 2028 and beyond. Source: Press Release More on Aurora Cannabis Inc. Aurora Cannabis Inc. 2026 Q3 - Results - Earnings Call Presentation Aurora Cannabis Reports Increased Revenue And Free Cash Flow For Q3 2026 Aurora Cannabis Inc. (ACB:CA) Q3 2026 Earnings Call Transcript Aurora Cannabis drops as quarterly adjusted net income falls Aurora Cannabis reports Q3 results