February, 2023

• 18 February

  The extraordinary exit of women of Silicon Valley!

  

    Bloomberg The resignation of YouTube chief Susan Wojcicki after 25 years at Google is another example of an unsettling trend in Silicon Valley: High profile women are heading for the exits. Just this week, Meta Platforms Inc Chief Business Officer Marne Levine stepped down after 12 years at the social media juggernaut. Last year, Sheryl Sandberg left her role ...

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• 18 February

  Elon Musk shuts 2 of 3 Twitter India offices

  

  Bloomberg Twitter Inc has shut two of its three India offices and told its staff to work from home, underscoring Elon Musk’s mission to slash costs and get the struggling social media service in the black. Twitter, which fired more than 90% of its roughly 200-plus staff in India late last year, closed its offices in the political centre New ...

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• 18 February

  Mercedes cars become ‘elusive’ after price jump

    Bloomberg Driving a shiny new Mercedes-Benz may soon become a distant dream for many but the most affluent. The average price of a Mercedes reached some$76,590 last year — a 43% increase over 2019 levels. That chimes with the carmaker’s push even further upmarket by focusing on top-end models like the S-Class sedan to bolster profits. The company has ...

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• 18 February

  AutoNation expecting used-car prices to drop as volumes recover

  

    Bloomberg AutoNation Inc, one of the biggest car dealership chains in the US, expects prices for new and used cars to decline this year as manufacturers crank up volumes and offer more incentives to price-sensitive buyers. The company said that fourth-quarter earnings rose to $6.37 a share, a record for the period and easily beating the $5.82 average forecast ...

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• 18 February

  UK’s Purplebricks puts up for sale

    Bloomberg Purplebricks Group Plc, the UK estate agent that has seen its market capitalisation shrink from a peak of £1.4 billion in 2017 to a mere £26 million, is putting out the “For Sale” sign. The property broker has started a review that may result in a sale of the company or some of its assets after undertaking a ...

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• 18 February

  DoorDash forecasts profit growth over pricey takeout demand

  

    Bloomberg DoorDash Inc shares jumped after an optimistic earnings report that showed resilient demand for pricey takeout even amid a cost-of-living squeeze. The company also said its president would be stepping down as part of a slate of executive changes. DoorDash is anticipating adjusted earnings before interest, tax, depreciation and amortisation of $120 million to $170 million in the ...

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• 18 February

  Biden intends to speak with Xi to defuse tensions over balloon

  

  Bloomberg President Joe Biden expects to speak with Xi Jinping about the Chinese balloon shot down by the US earlier this month, signalling a desire to end a dispute that has highlighted the fragility of relations between the world’s biggest economies. Biden disclosed plans for the call as part of his most extensive remarks yet about the balloon saga, which ...

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• 18 February

  British embassy guard who spied for Russia jailed in UK

  

    Bloomberg A British security guard who spied for Russia at the country’s Embassy in Berlin in exchange for money was sentenced to more than 13 years in prison on Friday. David Smith, 58, who collected a range of highly sensitive information from and about the embassy with the intention of supplying it to Russia, pleaded guilty to multiple breaches ...

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• 18 February

  US to send Pentagon official to Taiwan soon

  

    Bloomberg The US is sending its top China defense official to Taiwan, according to the Financial Times — though it’s unclear how Beijing will respond given the softer tone it has adopted in its diplomacy with the US and allies recently. The deputy assistant secretary of defense for China, Michael Chase, will make the trip “in the coming days,” ...

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• 18 February

  Turkey decides how Nato expansion happens: Niinisto

  

  Bloomberg Finland’s President Sauli Niinisto said it’s up to Turkey to decide whether Finland and Sweden join Nato together or not. “We have an understanding with Sweden: both of us should become members as soon as possible. Turkey has its own understanding of the situation and the way forward —that’s entirely in Turkish hands,” Niinisto told reporters at the Munich ...

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