Articles by Jacob J

Email : editor@ibtimes.sg

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Peloton CEO Barry McCarthy Blames Media After Firing More Than 4,500 Employees in 9 Months

The first major layoff was in February, when the newly installed CEO eliminated more than 2,800 positions.

Oct 9, 2022

Pentagon to Resume F-35 Fighter Jet Deliveries After Probe Into Chinese Alloy in Engine Part

Though Lockheed Martin is the primary contractor for the F-35 warplane, the part in question was built by Honeywell.

Oct 8, 2022

US Aims to Cripple China's Supercomputing Systems Through Latest Chip Crackdown

A report said last month that chip manufacturing in China is slumping even as the US and India are boosting the key industry.

Oct 8, 2022

Credit Suisse Offers $3 Billion Debt Buyback to Shore Up Confidence, Shares Rise 7%

Credit Suisse said the buyback will allow it to take advantage of market conditions to repurchase debt at attractive prices.

Oct 7, 2022

Maverick Investor Carl Icahn Makes $250 Million Windfall Gain on Twitter Shares; Here's How

According to WSJ's estimates, Icahn purchased around 14 million shares of Twitter, which amounts to close to 2 percent of the company.

Oct 6, 2022

Elon musk

Thailand Mass Shooting: Gunman Kills 38 People at Day-care Center, Dozens of Children Among the Dead

The gunman has been identified as 34-year-old Panya Kamrab, a former police officer.

Oct 6, 2022

US Grapples With Spiraling National Debt; At $31 Trillion, It Works Out to $93,000 Per Each American

Right now, as much as $965 million is spent every single day on interest on national debt, according to the Peterson Foundation.

Oct 6, 2022

What are Kamikaze Drones? Russia Strikes Near Kyiv Using Iranian-Made Shahed-136 Drones

Kamikaze Drones or suicide drones are different from regular drones in that they carry their own warhead and and blows themselves up after hitting the target.

Oct 5, 2022

North Korea tests rail-borne missile system

US-South Korea Military Drill Goes Awry as One Hyunmoo-2 Crashes Near Military Base at North Korea Border

Footage circulating online showed a large fire at the air base where the missile crashed.

Oct 5, 2022

Elon Musk Agrees to Buy Twitter at $54.2 Per Share; Deal Could be Completed by Friday

Twitter shares jumped on the news, surging as much as 22 percent to close at $52.The shares in Tesla, Musk's flagship company also rose by 2.4 percent.

Oct 5, 2022

Elon musk

Challenging China: Shipment of India Manufactured Apple iPhones to Hit $2.5 Billion This Fiscal, Says Report

Apple could end up making one out of four iPhones in India by 2025, a projection by JP Morgan analysts had shown earlier.

Oct 4, 2022

Trump Sues CNN for Leading a Sustained 'Campaign of Libel and Slander'; Seeks $475 Million in Damages

The lawsuit filed in US District Court in Fort Lauderdale, Florida, on Monday seeks $475 million in punitive damages.

Oct 4, 2022

Credit Suisse Inches Closer to Triggering Another Global Financial Meltdown?

The worst-case scenario is for the bank to file for bankruptcy, but Credit Suisse is digging in and fighting it out.

Oct 4, 2022

North Korea's Hwasong-12 Missile Travels Over Japan in Longest Test Flight; Tokyo Issues Alert

Japanese Prime Minister Fumio Kishida said the North Korean missile launch was a barbaric act.

Oct 4, 2022

Duma Formally Approves Annexation of Ukrainian Regions; Lavrov Says Russia Defending 'Language, Culture and Borders'

The annexation of Donetsk, Lugansk, Kherson and Zaporizhzhia is hotly contested by Ukraine and the West, which have termed it illegal.

Oct 3, 2022

Opec+ to Slash Output by 1 Million Barrel Per Day; US Gasoline Prices to Climb Back to $% a Gallon

It will be interesting to see how the US and the big European energy consuming nations respond to the pressure tactic of the Opec+ cartel, in which Russia is wielding an outsize influence.

Oct 3, 2022

Credit Suisse Lehman Brothers Moment: Bankruptcy, Merger or a Difficult Turnaround?

Credit Suisse had a market capitalization of $22.3 billion just a year ago. This has crashed to just $10.4 billion as of now, even as shares have plunged 56%.

Oct 3, 2022

Brazil Election Results: Surprise Surge for Bolsonaro as Left's Lula Fails to Post First Round Win

With nearly all votes counted, Left's Lula da Silva secured nearly 48 percent of the votes while President Bolsonaro received close to 44 percent. The runoff election will be held on October 30.

Oct 3, 2022

Crypto Eco-System Thriving Despite Price Headwinds, Analyst Says; Bitcoin Reports Modest Quarterly Gain

The analysis says that though the gains are marginal, it compares much favorably with the previous quarter, in which the BTC had lost almost 60 percent.

Oct 2, 2022

Cybersecurity

Indonesia Football Riot: 129 People Die in Stampede After Rival Fans Clash With Police

The deadly riot happened after hooligans supporting Arema FC and Persebaya Surabaya clashed against each other after a match held in Malang in East Java.

Oct 2, 2022

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