Latest Microsoft Corp News

PayPal to cut 2,000 jobs in latest tech company cost-cutting

Jan. 31, 2023 16:34 PM EST

SAN JOSE, Calif. (AP) — PayPal said Tuesday it will trim about 7% of its total workforce, or about 2,000 full-time workers, as the digital payments company contends with what it calls “the challenging macro-economic environment.” PayPal said it will make the cuts over several...

Russian millionaire on trial in hack, insider trade scheme

Jan. 30, 2023 17:11 PM EST

BOSTON (AP) — A wealthy Russian businessman and associates made tens of millions of dollars by cheating the stock market in an elaborate scheme that involved hacking into U.S. computer networks to steal insider information about companies such as Microsoft and Tesla, a prosecutor told jurors on...

US company gets $120 million boost to make 'green steel'

Jan. 26, 2023 23:57 PM EST

The manufacture of "green steel" moved one step closer to reality Friday as Massachusetts-based Boston Metal announced a $120 million investment from the world's second-largest steelmaker, ArcelorMittal. Boston Metal will use the injection of funds to expand production at a pilot...

How major US stock indexes fared Thursday 1/26/2023

Jan. 26, 2023 16:54 PM EST

Stocks climbed Thursday to send Wall Street to its highest level in nearly eight weeks following reports suggesting the economy and corporate profits may be doing better than feared. The S&P 500 rose 1.1% Thursday after briefly dipping lower in late morning trading. More swings...

SAP to cut up to 3,000 jobs worldwide, mulls Qualtrics sale

Jan. 26, 2023 04:11 AM EST

BERLIN (AP) — SAP said Thursday that it is cutting up to 3,000 jobs worldwide, or about 2.5% of its workforce, after a sharp drop in profits at Europe’s biggest software company. It comes amid a broader wave of job cuts in the technology industry, including mass layoffs at...

Microsoft reports outage for Teams, Outlook, other services

Jan. 25, 2023 08:39 AM EST

LONDON (AP) — Microsoft said it's seeing some improvement to problems with its online services including the Teams messaging platform and Outlook email system after users around the world reported outages Wednesday. In a status update, the tech company reported “service...

Microsoft, amid layoffs, says quarterly profit declined 12%

Jan. 24, 2023 17:17 PM EST

REDMOND, Wash. (AP) — Microsoft on Tuesday reported a 12% drop in profit for the October-December quarter, reflecting the economic uncertainty it said led to its decision to cut 10,000 workers. The company reported quarterly profit of $16.43 billion, or $2.20 per share. ...

Asian shares rise, track Wall St gains as earnings ramp up

Jan. 24, 2023 00:40 AM EST

BANGKOK (AP) — Stocks were higher in Asia on Tuesday after a tech-led rally on Wall Street as investors bet the Federal Reserve will trim its rate hikes to tamp down inflation. Many markets in the region were closed for Lunar New Year holidays. A preliminary reading...

How major US stock indexes fared Monday 1/23/2023

Jan. 23, 2023 16:45 PM EST

Stocks closed higher on Wall Street as investors grow more convinced the Federal Reserve will keep downshifting the size of its rate hikes and as several major companies prepare to report their latest results. This week Microsoft, Tesla and Boeing are among the companies that will...

Spotify, Salesforce.com, Ford rise; Xylem falls

Jan. 23, 2023 16:29 PM EST

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Monday: Spotify Inc., up $2.03 to $99.94. The music streaming service is cutting 6% of its workforce, the latest tech company to retrench as the economic outlook worsens. ...