https://www.scmp.com/rss/518128/feed The latest news, analysis and opinion on Salesforce. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Vincent Chow Vincent Chow China’s artificial intelligence model companies are unlikely to “eat up” the domestic software market because they lack the deep industry know-how and experience to meet enterprise needs, according to an HSBC analyst. Unlike the US, China’s less developed software-as-a-service (SaaS) market stands to gain even as AI models continue to improve, with the most likely outcome being a collaborative approach where model companies and legacy software firms serve enterprises in tandem, said Yiran Liu,... https://www.scmp.com/tech/tech-trends/article/3350586/ai-not-eating-chinas-software-market-turbocharging-it-hsbc-analyst?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3350586/ai-not-eating-chinas-software-market-turbocharging-it-hsbc-analyst?utm_source=rss_feed Sun, 19 Apr 2026 01:00:19 +0000 Agence France-Presse Agence France-Presse US President Donald Trump stole the show at the World Economic Forum in Davos, but he may have also made the annual gabfest of the global elite relevant again – at least for a week. The relevance of the gathering of CEOs and political leaders in the Swiss Alps is regularly questioned by critics who deride it as an out-of-touch echo chamber where little gets done. But all eyes were on this year’s Davos as Trump barrelled into town with a geopolitical storm hanging over the picturesque ski resort,... https://www.scmp.com/news/world/europe/article/3341046/how-trump-stole-show-davos-and-revived-wef-never-been-more-relevant?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3341046/how-trump-stole-show-davos-and-revived-wef-never-been-more-relevant?utm_source=rss_feed Fri, 23 Jan 2026 12:42:10 +0000 Bloomberg Bloomberg A bystander who rushed towards and disarmed one of the Bondi Beach attackers has won praise from leaders around the world. Extraordinary footage of the civilian’s actions began circulating on social media on Sunday, shortly after two men, later identified as a father and son, started shooting into a crowd gathered to celebrate the first day of Hanukkah. The massacre has left at least 16 people dead in the worst terrorist attack in Australia’s history. Officials have described the shooting on... https://www.scmp.com/news/asia/australasia/article/3336417/bondi-shooting-bystander-who-tackled-gunman-hailed-genuine-hero?utm_source=rss_feed https://www.scmp.com/news/asia/australasia/article/3336417/bondi-shooting-bystander-who-tackled-gunman-hailed-genuine-hero?utm_source=rss_feed Mon, 15 Dec 2025 00:50:03 +0000 Associated Press Associated Press OpenAI said Tuesday it has picked Slack CEO Denise Dresser as its first chief of revenue, a message to wary investors that the ChatGPT maker is serious about making a profit from its artificial intelligence technology. OpenAI said Dresser will oversee global revenue strategy and “help more businesses put AI to work in their day-to-day operations”. Dresser had already spent more than a decade at Salesforce when the software pioneer announced in 2020 it was buying work-chatting service Slack for... https://www.scmp.com/tech/big-tech/article/3335831/openai-names-slack-ceo-first-chief-revenue-chatgpt-maker-aims-make-profit?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3335831/openai-names-slack-ceo-first-chief-revenue-chatgpt-maker-aims-make-profit?utm_source=rss_feed Wed, 10 Dec 2025 02:45:41 +0000 Frank Chen,Mandy Zuo Frank Chen,Mandy Zuo Less than a week after a high-profile summit between President Xi Jinping and US President Donald Trump – a meeting that cooled the trade conflict between Beijing and Washington after months of heated recriminations – American exhibitors are expected to be more visible at this year’s China International Import Expo (CIIE). More than a dozen agricultural producers from US breadbasket regions will display their wares at a special pavilion at the high-profile trade show, and several of the... https://www.scmp.com/economy/global-economy/article/3331499/after-xi-trump-summit-us-firms-seize-window-opportunity-china-import-expo?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3331499/after-xi-trump-summit-us-firms-seize-window-opportunity-china-import-expo?utm_source=rss_feed Tue, 04 Nov 2025 23:00:09 +0000 Reuters Reuters More than 40 per cent of agentic artificial intelligence (AI) projects will be cancelled by the end of 2027 because of escalating costs and unclear business value, according to a report by Gartner. Tech giants such as Salesforce and Oracle have embraced AI agents, systems that can autonomously complete goals and take action, pouring billions into the technology in the hopes of boosting margins and optimising costs. Many vendors were engaging in “agent washing” – the rebranding of products such... https://www.scmp.com/tech/tech-trends/article/3316025/over-40-agentic-ai-projects-forecast-be-scrapped-2027-due-lack-value?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3316025/over-40-agentic-ai-projects-forecast-be-scrapped-2027-due-lack-value?utm_source=rss_feed Fri, 27 Jun 2025 03:30:13 +0000 Bloomberg Bloomberg Microsoft cut hundreds more jobs just weeks after its largest lay-off in years, underscoring the tech industry’s efforts to trim costs even as it ploughs billions of dollars into artificial intelligence (AI). More than 300 employees were told their positions had been eliminated on Monday, according to a Washington state notice reviewed by Bloomberg. A Microsoft representative said the latest headcount reduction was in addition to the 6,000 job cuts announced last month. “We continue to implement... https://www.scmp.com/tech/big-tech/article/3312814/microsoft-cuts-hundreds-more-jobs-after-firing-6000-last-month?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3312814/microsoft-cuts-hundreds-more-jobs-after-firing-6000-last-month?utm_source=rss_feed Tue, 03 Jun 2025 01:54:23 +0000 Alice Li Alice Li China and the United States have agreed to a temporary, partial truce in their unprecedented trade war, but their heated rivalry is far from over. As the dust settles in the wake of April’s frenzied tariff battle and Monday’s deal that saw import duties drop 115 per cent on both sides, the world’s two largest economies are actively courting emerging markets to gain the upper hand in the event tensions flare up again. As US President Donald Trump travelled to the Middle East for the first... https://www.scmp.com/economy/global-economy/article/3310341/china-us-sign-duelling-deals-after-agreeing-trade-war-truce?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3310341/china-us-sign-duelling-deals-after-agreeing-trade-war-truce?utm_source=rss_feed Wed, 14 May 2025 14:00:10 +0000 Technology is so pervasive and invasive that it’s polarising people, producing feelings of love and loathing for its devices, online services and the would-be visionaries behind them, according to a long-time Silicon Valley reporter. Kara Swisher unwraps how we got to this point in her incendiary memoir, Burn Book, an exposé that also seeks to avert technological calamity on the perilous road ahead. Swisher skewers many of the once-idealistic tech moguls who, when she met them as entrepreneurs... https://www.scmp.com/lifestyle/article/3253669/elon-musk-mark-zuckerberg-and-other-silicon-valley-ceos-blasted-veteran-tech-reporters-memoir-burn?utm_source=rss_feed https://www.scmp.com/lifestyle/article/3253669/elon-musk-mark-zuckerberg-and-other-silicon-valley-ceos-blasted-veteran-tech-reporters-memoir-burn?utm_source=rss_feed Sun, 03 Mar 2024 11:15:11 +0000 The tech industry has started 2024 with another wave of job cuts, paring back even further after widespread lay-offs last year. So far, some 32,000 tech workers have lost their jobs this year, according to Layoffs.fyi, a start-up that has been tracking job cuts in the industry since the pandemic. Snap became the latest example, announcing on Monday that it was reducing its workforce by about 10 per cent, or around 540 employees. Earlier this month, software company Okta said it would eliminate 7... https://www.scmp.com/tech/tech-trends/article/3251057/tech-industry-cuts-32000-jobs-january-aggressively-hiring-ai-roles?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3251057/tech-industry-cuts-32000-jobs-january-aggressively-hiring-ai-roles?utm_source=rss_feed Tue, 06 Feb 2024 03:12:53 +0000 Marc Benioff, the Salesforce chief executive who also owns Time magazine, said artificial intelligence (AI) companies ripped off intellectual property to build their technology. “All the training data has been stolen,” Benioff said on Tuesday in an interview at Bloomberg House at the World Economic Forum in Davos. Content from media outlets including Time and The New York Times surfaces in results from AI companies, he said. There is increasing scrutiny on the makers of large language models... https://www.scmp.com/tech/tech-trends/article/3248702/davos-2024-openai-ceo-altman-time-owner-benioff-disagree-ais-use-copyrighted-content?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3248702/davos-2024-openai-ceo-altman-time-owner-benioff-disagree-ais-use-copyrighted-content?utm_source=rss_feed Wed, 17 Jan 2024 03:45:11 +0000 Microsoft Corp-backed OpenAI is in early discussions to raise a fresh round of funding at a valuation at or above US$100 billion, people with knowledge of the matter said, a deal that would cement the creator of ChatGPT as one of the world’s most valuable start-ups. Investors potentially involved in the fundraising round have been included in preliminary discussions, according to the people, who asked not to be identified to discuss private matters. Details like the terms, valuation and timing... https://www.scmp.com/tech/tech-trends/article/3246159/openai-talks-raise-new-funding-us100-billion-valuation-making-chatgpt-creator-one-worlds-most?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3246159/openai-talks-raise-new-funding-us100-billion-valuation-making-chatgpt-creator-one-worlds-most?utm_source=rss_feed Sun, 24 Dec 2023 08:26:21 +0000 Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world. Sign up now! In the year between Joe Biden and Xi Jinping’s most recent face-to-face meetings – from the G20 in Indonesia to the Asia-Pacific Economic Cooperation (Apec) leaders’ week in San Francisco – history is neither repeating nor rhyming. It seems, rather, to be accelerating to the point where deep analysis is all but impossible. In... https://www.scmp.com/economy/global-economy/article/3242889/global-impact-xi-biden-apec-meeting-creates-more-questions-answers-many-contentious-issues-still?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3242889/global-impact-xi-biden-apec-meeting-creates-more-questions-answers-many-contentious-issues-still?utm_source=rss_feed Mon, 27 Nov 2023 06:00:35 +0000 OpenAI will bring back Sam Altman and appoint new board members, after nearly all of its employees threatened to quit over his surprise ousting. Altman is returning to his role as CEO and the new board will be chaired by former Salesforce co-CEO Bret Taylor and include former US Treasury Secretary Larry Summers and Quora CEO Adam D’Angelo, the company said in a post on X, formerly Twitter. It is working “to figure out the details”, the message said. OpenAI is nothing without its people... https://www.scmp.com/tech/big-tech/article/3242394/microsoft-pushes-changes-openai-after-board-start-sought-merger-rival-anthropic?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3242394/microsoft-pushes-changes-openai-after-board-start-sought-merger-rival-anthropic?utm_source=rss_feed Wed, 22 Nov 2023 02:30:54 +0000 Nearly all of OpenAI’s employees have threatened to quit and follow ousted leader Sam Altman to work at the company’s biggest investor, Microsoft, unless the current board resigns, leaving the future of the high-profile artificial intelligence (AI) start-up increasingly uncertain. More than 700 of OpenAI’s roughly 770 employees signed a letter on Monday addressed to the company's board, stating that the signatories are “unable to work for or with people that lack competence, judgment and care... https://www.scmp.com/tech/tech-trends/article/3242258/nearly-all-openai-staff-threaten-go-microsoft-unless-board-quits-investors-try-bring-back-altman?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3242258/nearly-all-openai-staff-threaten-go-microsoft-unless-board-quits-investors-try-bring-back-altman?utm_source=rss_feed Tue, 21 Nov 2023 02:55:25 +0000 Chinese President Xi Jinping is courting big American businesses in China in San Francisco this week, but analysts and investors say structural tensions continue to cloud the Sino-US economic relationship as companies look to diversify supply chains to other Asian countries. At a gala dinner in San Francisco on Wednesday, Xi aimed to reassure American business leaders, including Apple CEO Tim Cook and Salesforce CEO Marc Benioff, that China’s business environment is favourable. The dinner came... https://www.scmp.com/news/china/article/3241893/san-francisco-chinese-president-xi-woos-us-business-investment-welcome-mat-not-enough-say-analysts?utm_source=rss_feed https://www.scmp.com/news/china/article/3241893/san-francisco-chinese-president-xi-woos-us-business-investment-welcome-mat-not-enough-say-analysts?utm_source=rss_feed Fri, 17 Nov 2023 09:00:20 +0000 The “hope of the China-US relationship lies in our peoples”, Chinese President Xi Jinping told American business leaders during a dinner in San Francisco on Wednesday, as he offered assurances to foreign investors over worries about China’s tightened business oversight and bilateral tensions. Xi told the audience of about 400 people that, “[it was] the reaching out to each other by our peoples that have, time and again, brought China-US relations from a low back onto the right track” during the... https://www.scmp.com/news/china/diplomacy/article/3241778/chinese-president-offers-cooperation-reassurance-during-us-business-dinner-detente-menu?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3241778/chinese-president-offers-cooperation-reassurance-during-us-business-dinner-detente-menu?utm_source=rss_feed Thu, 16 Nov 2023 09:12:58 +0000 Cloud Software Group, the parent of cloud computing company Citrix, has announced it would stop all new commercial transactions in China, becoming one of the latest American technology companies to pull back from the market. The decision would extend to customers, either directly or through partners, in China, including Hong Kong and Macau, effective December 3, a spokesman said in a statement to the Post on Wednesday. The business decision was made due to the “increasing cost” of operating in... https://www.scmp.com/tech/article/3240901/citrix-owner-cloud-software-becomes-latest-us-software-company-quit-china-economy-weakens?utm_source=rss_feed https://www.scmp.com/tech/article/3240901/citrix-owner-cloud-software-becomes-latest-us-software-company-quit-china-economy-weakens?utm_source=rss_feed Thu, 09 Nov 2023 09:00:12 +0000 Sun Valley, Idaho, is an unlikely spot for a catwalk. But that’s exactly what the paths around town became as billionaire and CEO guests strolled and biked between conference sessions at this year’s Allen & Co. event. The fashion choices of the business elite seemed to evoke the luxury style seen on the hit HBO TV show Succession, with a focus on muted tones and casual wear. Many attendees stayed committed to the colour and texture choices long favoured by tech and finance titans. Read: plenty... https://www.scmp.com/magazines/style/luxury/article/3228114/how-rock-billionaire-style-sun-valley-conference-stealth-wealth-fashion-popularised-hbos-succession?utm_source=rss_feed https://www.scmp.com/magazines/style/luxury/article/3228114/how-rock-billionaire-style-sun-valley-conference-stealth-wealth-fashion-popularised-hbos-succession?utm_source=rss_feed Tue, 18 Jul 2023 10:25:47 +0000 Microsoft is likely to face a European Union antitrust investigation in the coming months after remedy discussions with the EU watchdog to avert such a move appear to have hit a roadblock, people familiar with the matter said. Microsoft, which has been fined 2.2 billion euros (US$2.4 billion) in the previous decade for practices in breach of EU competition rules, including tying or bundling two or more products together, found itself in the EU cross hairs after a complaint by Salesforce-owned... https://www.scmp.com/tech/policy/article/3226458/microsoft-faces-eu-antitrust-probe-after-remedies-fall-short-sources-say?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3226458/microsoft-faces-eu-antitrust-probe-after-remedies-fall-short-sources-say?utm_source=rss_feed Tue, 04 Jul 2023 02:55:10 +0000 Students can now use generative artificial intelligence (AI) tools such as ChatGPT to complete their assignments, from essays and presentation slides to computing codes and maths problems. I cannot help but wonder if my days as an educator are numbered. I am shocked and awed by the ease of use and capability of these generative AI tools, which use large language models to understand and respond to questions, generating humanlike responses in natural language. ChatGPT took the world by storm with... https://www.scmp.com/comment/opinion/article/3221589/dont-ban-tools-chatgpt-students-when-they-will-have-work-ai?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3221589/dont-ban-tools-chatgpt-students-when-they-will-have-work-ai?utm_source=rss_feed Wed, 24 May 2023 19:30:16 +0000 Ever since Elon Musk bought Twitter in an epic US$44 billion deal last year, it’s been a bumpy ride, from mass lay-offs to impersonation of brands and public figures on the social media platform that sent advertisers running. Twitter is currently valued at less than half of what it was originally: just US$20 billion. In December 2022, Musk created a Twitter poll asking, “Should I step down as head of Twitter?” with “yes” emerging as the winning response. The poll received over 17.5 million... https://www.scmp.com/magazines/style/celebrity/article/3220748/who-twitters-new-ceo-linda-yaccarino-replacing-elon-musk-nbcu-ad-titan-once-told-billionaire-stop?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3220748/who-twitters-new-ceo-linda-yaccarino-replacing-elon-musk-nbcu-ad-titan-once-told-billionaire-stop?utm_source=rss_feed Tue, 16 May 2023 09:53:24 +0000 Tech executive Bob Lee, who founded the mobile payment service Cash App, was killed in a stabbing in San Francisco, according to authorities and media reports. Police responded at about 2.35am (local time) on Tuesday to a report of a stabbing on Main Street in the Rincon Hill neighbourhood, near the San Francisco-Oakland Bay Bridge, the San Francisco Police Department said in a news release. Officers found a 43-year-old man suffering from stab wounds and administered aid. After paramedics were... https://www.scmp.com/news/world/united-states-canada/article/3216125/cash-app-founder-bob-lee-stabbed-death-san-francisco?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3216125/cash-app-founder-bob-lee-stabbed-death-san-francisco?utm_source=rss_feed Thu, 06 Apr 2023 00:57:56 +0000 Ping An Insurance (Group), China’s largest insurer, has increased its investments in rental income property while cutting exposure to developers after taking a massive hit on China Fortune Land Development. Of the insurer’s 4.37 trillion yuan (US$633.9 billion) investment portfolio, real estate now accounts for 4.7 per cent, or 205.4 billion yuan, with 60 per cent invested in physical buildings, an increase of 10 percentage points from two years ago. The rest is in equities or bonds issued by... https://www.scmp.com/business/banking-finance/article/3213697/ping-adds-property-assets-investment-portfolio-steers-clear-developers-after-painful-china-fortune?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3213697/ping-adds-property-assets-investment-portfolio-steers-clear-developers-after-painful-china-fortune?utm_source=rss_feed Thu, 16 Mar 2023 03:15:46 +0000 The end of pandemic restrictions in Hong Kong and mainland China is reviving policy sales and improving the 2023 outlook for major insurance companies Prudential and Ping An, after both companies reported profit declines for 2022. Sales of new policies at Prudential grew 15 per cent in Asia in the first two months of the year, with the insurer crediting the strong growth to the scrapping of Covid-19 restrictions across the region and the reopening of borders between Hong Kong and mainland... https://www.scmp.com/business/companies/article/3213589/prudential-reports-strong-policy-sales-first-two-months-2023-border-reopening-puts-it-back-growth?utm_source=rss_feed https://www.scmp.com/business/companies/article/3213589/prudential-reports-strong-policy-sales-first-two-months-2023-border-reopening-puts-it-back-growth?utm_source=rss_feed Wed, 15 Mar 2023 07:48:21 +0000 Google employees staged protests on both US coasts this week to call attention to labour conditions for subcontracted workers and support thousands of co-workers who were recently laid off. Rallies, one held on Wednesday at Google headquarters in Mountain View, California, and another Thursday near Google’s corporate offices in New York City, came after the company announced the largest reduction in its history – 12,000 positions, or 6 per cent of its global workforce. Other major tech firms... https://www.scmp.com/tech/big-tech/article/3208941/google-workers-stage-rallies-against-job-cuts-low-wages?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3208941/google-workers-stage-rallies-against-job-cuts-low-wages?utm_source=rss_feed Fri, 03 Feb 2023 02:32:01 +0000 November 9 would have been just another normal work day at Meta Platforms for Wang, if Mark Zuckerberg had not dropped a bombshell announcement. In a 1,182-word letter, the tech billionaire and CEO revealed that the Menlo Park, California-based company was slashing 11,000 positions – about 13 per cent of the workforce supporting the largest social media network on the planet. “I want to take accountability for these decisions and for how we got here,” Zuckerberg wrote. “I know this is tough for... https://www.scmp.com/tech/big-tech/article/3207590/chinese-tech-workers-visas-us-struggle-under-massive-lay-offs-silicon-valley?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3207590/chinese-tech-workers-visas-us-struggle-under-massive-lay-offs-silicon-valley?utm_source=rss_feed Tue, 24 Jan 2023 00:30:12 +0000 Amazon.com has started its biggest-ever round of jobs cuts – a culling that will ultimately affect 18,000 workers around the globe. Amazon began notifying employees by email early Wednesday, Doug Herrington, the company’s worldwide retail chief, said in a memo. He said the company aimed to communicate with all laid-off workers in the US, Canada and Costa Rica by the end of the day. Notifications in China will be sent after the Lunar New Year, and in other regions the company must consult with... https://www.scmp.com/tech/big-tech/article/3207336/amazon-starts-planned-cuts-18000-workers-across-us-canada-and-costa-rica?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3207336/amazon-starts-planned-cuts-18000-workers-across-us-canada-and-costa-rica?utm_source=rss_feed Thu, 19 Jan 2023 03:00:17 +0000 Microsoft is cutting 10,000 workers, almost 5 per cent of its workforce, in response to what it described as “macroeconomic conditions and changing customer priorities”. The company said in a regulatory filing on Wednesday that it had just notified employees of the lay-offs, some of which will begin immediately. The company said it will also be making changes to its hardware portfolio and consolidating its leased office locations. The lay-offs represent “less than 5 per cent of our total... https://www.scmp.com/news/world/united-states-canada/article/3207314/microsoft-lays-10000-job-cuts-tech-sector-spread?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3207314/microsoft-lays-10000-job-cuts-tech-sector-spread?utm_source=rss_feed Wed, 18 Jan 2023 15:48:37 +0000 Amazon is laying off more than 18,000 employees – a significantly bigger number than previously planned – in the latest sign that a technology slump is deepening. Chief Executive Officer Andy Jassy announced the move in a memo to staff on Wednesday, saying it followed the company’s annual planning process. The cuts, which began last year, were previously expected to affect about 10,000 people. The reduction is concentrated in the firm’s corporate ranks, mostly Amazon’s retail division and human... https://www.scmp.com/news/world/united-states-canada/article/3205631/amazon-slash-more-18000-jobs-ceo-says?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3205631/amazon-slash-more-18000-jobs-ceo-says?utm_source=rss_feed Thu, 05 Jan 2023 03:04:36 +0000 What will the workplace look like a year from now? The snow globe of work has been undeniably shaken to its core since the arrival of Covid-19. And the swirling mist is far from settled. But one thing is clear: the working assumption that office life can “go back” to what it was before 2020 is just wrong. Three out of every four workers say that working hybrid is now non-negotiable for them. In Hong Kong, a recent survey conducted by Lingnan University found that more than 80 per cent of... https://www.scmp.com/lifestyle/health-wellness/article/3205275/2023-workplace-trends-how-yours-will-be-healthier-happier-and-more-productive-3-expert-predictions?utm_source=rss_feed https://www.scmp.com/lifestyle/health-wellness/article/3205275/2023-workplace-trends-how-yours-will-be-healthier-happier-and-more-productive-3-expert-predictions?utm_source=rss_feed Mon, 02 Jan 2023 08:15:11 +0000 Amazon CEO Andy Jassy said the e-commerce giant will be cutting jobs into 2023 as it adjusts to business conditions, his first public comments about the cost-reduction plans roiling Amazon since reports that it planned to wipe out about 10,000 jobs. “Leaders across the company are working with their teams and looking at their workforce levels, investments they want to make in the future, and prioritising what matters most to customers and the long-term health of our businesses,” Jassy said... https://www.scmp.com/tech/article/3200054/amazon-ceo-says-job-cuts-will-continue-2023?utm_source=rss_feed https://www.scmp.com/tech/article/3200054/amazon-ceo-says-job-cuts-will-continue-2023?utm_source=rss_feed Fri, 18 Nov 2022 03:30:12 +0000 Less affluent luxury shoppers are curtailing their once-frenzied purchases of entry-level products such as Gucci slippers and Balenciaga belts – a sign that the cooling of the global economy is extending to an industry that defied the tumult of the past couple of years. Among the “entry level or aspirational consumer, we’re certainly starting to see what I would say is a slowdown in the growth”, Marc Metrick, chief executive officer of department store Saks Fifth Avenue’s online operations,... https://www.scmp.com/lifestyle/fashion-beauty/article/3199136/i-could-buy-flight-money-entry-level-luxury-shoppers-have-other-priorities-us500-gucci-or-balenciaga?utm_source=rss_feed https://www.scmp.com/lifestyle/fashion-beauty/article/3199136/i-could-buy-flight-money-entry-level-luxury-shoppers-have-other-priorities-us500-gucci-or-balenciaga?utm_source=rss_feed Fri, 11 Nov 2022 08:15:11 +0000 Meta Platforms Chief Executive Officer Mark Zuckerberg said the company will cut more than 11,000 jobs in the first major round of lay-offs in the social media giant’s history. The reductions, equal to about 13 per cent of the workforce, were disclosed on Wednesday in a statement. The company will also extend its hiring freeze through the first quarter of 2023. “I want to take accountability for these decisions and for how we got here,” Zuckerberg said in the statement. “I know this is tough for... https://www.scmp.com/news/world/united-states-canada/article/3199042/mark-zuckerberg-says-sorry-meta-begins-slashing-over-11000-jobs?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3199042/mark-zuckerberg-says-sorry-meta-begins-slashing-over-11000-jobs?utm_source=rss_feed Wed, 09 Nov 2022 12:29:52 +0000 Much like the titans of the world who wear his clothes, Brunello Cucinelli – the Italian designer, entrepreneur and renaissance man who helms the brand of the same name – is a company founder. It is a rarity to meet a successful founder in any field, let alone in fashion, an industry dominated by heritage labels helmed by so-called creative directors who change jobs every five years or so. When Cucinelli started his company in 1978 in Solomeo, a hamlet in the Umbria region of Italy where he was... https://www.scmp.com/lifestyle/fashion-beauty/article/3195996/jeff-bezos-angelina-jolie-are-fans-meet-brunello-cucinelli?utm_source=rss_feed https://www.scmp.com/lifestyle/fashion-beauty/article/3195996/jeff-bezos-angelina-jolie-are-fans-meet-brunello-cucinelli?utm_source=rss_feed Sun, 16 Oct 2022 23:15:07 +0000 Alibaba Cloud, which runs the digital technology and intelligence backbone of Alibaba Group Holding, has committed a US$1 billion investment to upgrade its global partner ecosystem, as China’s faltering economy prompts the company to ratchet up its international expansion. That investment, according to Alibaba, will consist of both financial and non-financial incentives, such as funding, rebates and go-to-market initiatives, to support partners’ technology innovation and market expansion during... https://www.scmp.com/tech/big-tech/article/3193429/alibaba-commits-us1-billion-global-cloud-services-partner-ecosystem?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3193429/alibaba-commits-us1-billion-global-cloud-services-partner-ecosystem?utm_source=rss_feed Thu, 22 Sep 2022 10:30:52 +0000 Fourteen US companies including Amazon and Visa each pledged to provide at least 500,000 digital training and education opportunities for women and girls in the Indo-Pacific region as part of a Biden administration initiative. The programme, undertaken within the broader 14-nation Indo-Pacific Economic Framework for Prosperity, is focused on Brunei, Fiji, India, Indonesia, Malaysia, the Philippines, Thailand and Vietnam. The IPEF Upskilling Initiative, which will provide 7 million training... https://www.scmp.com/news/asia/article/3191983/amazon-apple-and-google-pledge-training-women-indo-pacific-under-biden?utm_source=rss_feed https://www.scmp.com/news/asia/article/3191983/amazon-apple-and-google-pledge-training-women-indo-pacific-under-biden?utm_source=rss_feed Fri, 09 Sep 2022 10:29:44 +0000 TikTok, the globally popular short video app owned by China’s ByteDance with over 1 billion users worldwide, is facing fresh challenges in its global expansion push amid the departure of key executives and renewed scrutiny over its data collection practices. David Ortiz, the New York-based leader of TikTok’s monetisation product, wrote on LinkedIn on Tuesday that his role was “being eliminated in a much larger reorganisation effort”. Ortiz, an alumnus of cloud-based software company Salesforce... https://www.scmp.com/tech/tech-war/article/3185943/tiktoks-global-expansion-stumbles-executives-leave-and-concerns-flare?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3185943/tiktoks-global-expansion-stumbles-executives-leave-and-concerns-flare?utm_source=rss_feed Wed, 20 Jul 2022 13:00:31 +0000 Summer is nearly here, which means it’s prime holiday season! But for the wealthy and powerful, holidays look a little different. Take Meta’s Mark Zuckerberg, for instance: he spends time surfing near his nearly 607 hectares (1,500 acres) in Hawaii and at his super-private retreat on Lake Tahoe. Or there’s Tim Cook, Apple’s billionaire CEO, who spends his time away from running the iPhone-maker exploring national parks. Take a look at how some of the US’ most high-powered billionaire execs spend... https://www.scmp.com/magazines/style/celebrity/article/3182966/where-do-billionaires-go-holiday-how-amazon-founder-jeff?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3182966/where-do-billionaires-go-holiday-how-amazon-founder-jeff?utm_source=rss_feed Sat, 25 Jun 2022 19:00:10 +0000 Soaring inflation, Russia’s war in Ukraine, squeezed supply chains, the threat of food insecurity around the world, the lingering Covid-19 pandemic: the risks to the global economy are many. They’ve lead to an increasingly gloomy view of the months ahead for corporate leaders, government officials and other VIPs at the World Economic Forum’s annual meeting in Davos, Switzerland. The war has been a thread, setting back the global economic recovery from the pandemic, economists say. The managing... https://www.scmp.com/news/world/article/3179162/davos-gathering-overshadowed-global-economic-worries-and-tough-year?utm_source=rss_feed https://www.scmp.com/news/world/article/3179162/davos-gathering-overshadowed-global-economic-worries-and-tough-year?utm_source=rss_feed Wed, 25 May 2022 15:06:47 +0000 Hong Kong’s fearsome fifth wave of Covid-19 has not been bad for every business sector. Some of the city’s biggest insurers have enjoyed surging sales thanks to their digital offerings and a heightened public awareness of the need for medical cover. HSBC Life experienced a 38 per cent year-on-year increase in the value of new business in the first three months of 2022, even though its parent bank had to temporarily close most of its branches in early March as the pandemic peaked. “The fifth wave... https://www.scmp.com/business/banking-finance/article/3177809/hsbc-life-aia-among-major-hong-kong-insurers-seeing-strong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3177809/hsbc-life-aia-among-major-hong-kong-insurers-seeing-strong?utm_source=rss_feed Sun, 15 May 2022 04:30:14 +0000 Life insurance sales in Hong Kong jumped 25 per cent last year, the highest since 2016, after insurance firms bolstered staff numbers by recruiting flight attendants laid off amid the Covid-19 pandemic. Total sales of new policies stood at HK$166.8 billion (US$21.38 billion), according to data from the Insurance Authority on Friday. It was the biggest annual growth after 39.8 per cent five years ago and a sharp reversal from a 23 per cent slump in 2020. “The Hong Kong life insurance industry is... https://www.scmp.com/business/companies/article/3170171/flight-attendants-turned-insurance-agents-boost-new-policy-sales?utm_source=rss_feed https://www.scmp.com/business/companies/article/3170171/flight-attendants-turned-insurance-agents-boost-new-policy-sales?utm_source=rss_feed Fri, 11 Mar 2022 10:45:02 +0000 The highest flying of Wall Street’s stock-market darlings are now taking a major beating. Tesla, Netflix, Nvidia and Facebook-owner Meta Platforms have all lost over 10 per cent in the past few weeks. That wiped several hundreds of billions from their market values, with Meta alone losing some US$224 billion since its shares hit a September record. The sell-off gained force Friday, leaving the so-called NYSE FANG+ Index of the tech-industry’s giants bordering on correction territory, or a 10 per... https://www.scmp.com/business/banking-finance/article/3158454/tesla-nvidia-wall-streets-favourites-keep-tumbling?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3158454/tesla-nvidia-wall-streets-favourites-keep-tumbling?utm_source=rss_feed Sat, 04 Dec 2021 05:00:19 +0000 Newly named Twitter CEO Parag Agrawal has emerged from behind the scenes to take over one of Silicon Valley’s highest-profile and politically volatile jobs. But his prior lack of name recognition coupled with a solid technical background appears to be what some big company backers were looking for to lead Twitter out of its current morass. A 37-year-old immigrant from India, Agrawal comes from outside the ranks of celebrity CEOs, which include the man he’s replacing, Jack Dorsey, Facebook’s Mark... https://www.scmp.com/news/asia/south-asia/article/3157827/who-parag-agrawal-indian-american-twitter-ceo-replacing-jack?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3157827/who-parag-agrawal-indian-american-twitter-ceo-replacing-jack?utm_source=rss_feed Tue, 30 Nov 2021 02:48:43 +0000 [Sponsored Article] Festivals and celebrations take place in all cultures and all over the globe for many reasons. Religion, changing seasons, agriculture, arts, food – all these and more have inspired cross-border retailing.  Festive shopping is an important driver for sales, with consumers shopping for gifts and treats for themselves. In addition, the festive ambience, as well as deals and discounts usually available around holidays, also make impulse buying more likely. Christmas is probably... https://www.scmp.com/presented/business/topics/great-global-pivot-e-commerce-heats/article/3154155/tips-catch-festive?utm_source=rss_feed https://www.scmp.com/presented/business/topics/great-global-pivot-e-commerce-heats/article/3154155/tips-catch-festive?utm_source=rss_feed Fri, 29 Oct 2021 08:10:15 +0000 Draft EU rules to curb the power of Amazon, Apple, Alphabet unit Google and Facebook should also tackle providers of cloud computing services for possible anticompetitive practices, a study said on Tuesday. The report comes amid concerns that some EU lawmakers who are reviewing the Digital Markets Act (DMA) proposed by EU antitrust chief Margrethe Vestager may be lenient towards cloud computing companies. Amazon’s Amazon Web Services was the leading provider in the second quarter, followed by... https://www.scmp.com/tech/article/3153811/eu-tech-rules-should-also-curb-anticompetitive-practices-cloud-computing?utm_source=rss_feed https://www.scmp.com/tech/article/3153811/eu-tech-rules-should-also-curb-anticompetitive-practices-cloud-computing?utm_source=rss_feed Wed, 27 Oct 2021 02:30:58 +0000 [Sponsored Article] The fourth quarter is typically the busiest time of the year for retailers. From October to the end of December, there are popular holidays worldwide, such as Halloween, Thanksgiving, and Christmas, as well as more recent festive events like Singles’ Day, Black Friday, and Cyber Monday. The holiday season is prime time for merchants to boost sales. Covid-19 lockdowns have laid the foundation for new consumer behaviour and helped drive online sales to new heights. Online... https://www.scmp.com/presented/business/topics/great-global-pivot-e-commerce-heats/article/3151927/five-ways-prepare?utm_source=rss_feed https://www.scmp.com/presented/business/topics/great-global-pivot-e-commerce-heats/article/3151927/five-ways-prepare?utm_source=rss_feed Tue, 12 Oct 2021 03:56:14 +0000 [Sponsored Article] The largest fully integrated telecommunications company in the Philippines PLDT, through its B2B arm PLDT Enterprise, has officially opened the country’s most prestigious digital thought leadership event, the Philippine Digital Convention 2021 (PH Digicon 2021), where global industry experts, thought leaders, and pioneers in technology would gather to drive technological empowerment among enterprises across the country. With the theme “REVOLUTION,” this year’s convention... https://www.scmp.com/presented/business/topics/pldt-opens-ph-digicon-2021/article/3151327/ph-telco-pldt-gathers-global?utm_source=rss_feed https://www.scmp.com/presented/business/topics/pldt-opens-ph-digicon-2021/article/3151327/ph-telco-pldt-gathers-global?utm_source=rss_feed Mon, 11 Oct 2021 16:00:20 +0000 Airwallex, the fintech unicorn backed by Tencent Holdings and tycoon Li Ka-shing’s Horizons Ventures, said its valuation has soared to US$4 billion following its latest round of fundraising led by Lone Pine Capital. The company raised US$200 million in its Series E funding, which included investments from G Squared, Vetamer Capital Management, 1835i Ventures, DST Global, Salesforce Ventures and Sequoia Capital China. It has raised more than US$700 million to date. “From the start, our vision has... https://www.scmp.com/business/banking-finance/article/3149464/airwallexs-valuation-soars-54-cent-over-six-months-us4?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3149464/airwallexs-valuation-soars-54-cent-over-six-months-us4?utm_source=rss_feed Mon, 20 Sep 2021 13:30:16 +0000 Microsoft Corp’s Windows 11, the latest iteration of its 35-year-old personal computer operating system, boasts loads of new of features meant to position the software giant as the polite child in a classroom full of big bad technology bullies. The update also has at least one change that hearkens back to the days of Microsoft’s own anticompetitive behaviour. At the software’s Thursday debut, Microsoft touted developers’ choices to avoid app commissions, emphasised the ability to use outside app... https://www.scmp.com/tech/big-tech/article/3138703/windows-11-microsoft-touts-more-open-platform-relies-familiar?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3138703/windows-11-microsoft-touts-more-open-platform-relies-familiar?utm_source=rss_feed Fri, 25 Jun 2021 04:18:24 +0000