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Spotify Shall Cut Jobs to Reduce Cost

Spotify Technology is considering layoffs as soon as this week in an effort to reduce costs, joining companies like Alphabet, Amazon, and Microsoft that have recently eliminated thousands of jobs.

Jobs were lost by tech companies last year as a demand boom brought on by the pandemic quickly subsided, and layoffs have continued this year as businesses try to contain costs to weather the downturn.


The Indian government will borrow a record 16 trillion rupees ($198 billion) in the fiscal year ending in March 2024, according to a Reuters poll of economists. These economists said infrastructure spending and fiscal responsibility should be the government's top budget priorities. The gross national debt of the United States has more than doubled over the last four years as a result of Prime Minister Narendra Modi's administration's extensive spending to aid the underprivileged and protect the economy from the COVID-19 pandemic.

The European Central Bank (ECB) will be more aggressive in its tightening campaign, adding another 50 basis points to its deposit rate on February 2nd as it fights rampant inflation, a Reuters poll found. Despite the eurozone's central bank raising rates at the fastest rate on record, inflation has yet to reach the 2% target. According to official data released last week, prices increased 9.2% year on year in December.


The euro reached a nine-month high against the dollar on Monday morning as more pessimistic remarks about European interest rates contrasted with market expectations for a more restrained Federal Reserve.

The recent peak of $1.08875 was broken by the euro, which rose as high as $1.0903, while the dollar index which measures the value of the greenback against a basket of six other currencies slipped by 0.09% to 101.743.


Gold prices edged lower after trading near a nine-month high on Monday morning as markets awaited additional U.S. data this week to determine whether the biggest economy in the world might experience a recession in 2023. Gold futures fell by 0.20% to $1,924 per ounce.


Oil prices started to decline in Monday’s early trading session after a recent rally as traders awaited more information on China's economic recovery and a possible U.S. recession. However, Asian trading volumes were low due to a number of market holidays in the region. Brent crude futures slipped by 0.15% to $87.50 a barrel, while the West Texas Intermediate slid by 0.13% to $81.53 a barrel.


USA: S&P500 +1.89%, Dow Jones Industrial Average +1.00%, Nasdaq Composite +2.86%

Europe: FTSE 100 +0.30%, DAX +0.76%, CAC 40 +0.63%

Asia: Nikkei 225 +1.33%, Hang Seng +1.82%, CSI 300 +0.61%, Nifty 50 +0.50%


Intel "Historic Collapse" Slashes $8 billion in Market Value

About $8 billion of Intel’s market value was lost on Friday as a result of the American chipmaker's gloomy earnings forecasts, which stoked concerns about a downturn in the personal computer market.

The business also struggled with slowing growth in the data center industry, which contributed to its first-quarter surprise loss forecast and $3 billion below-estimated revenue forecast.

Morgan Stanley Fines Employees For Messaging Breaches

Morgan Stanley has fined employees who use messaging apps like WhatsApp and others for work-related communications, the Financial Times reported on Thursday. The fines, which ranged from a few thousand dollars to over $1 million per employee, were established by taking into account various elements, including the quantity of messages sent, seniority, and whether or not they had previously been warned.

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