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July 1st - According to Business Insider, sources familiar with the matter revealed that Microsoft (MSFT.O) is planning to announce layoffs soon to continue controlling costs. These layoffs will affect thousands of positions, including sales and consulting roles, as well as positions in the Xbox gaming division. It is understood that the scale of this round of layoffs will be smaller than a similar one last year. Sources indicated that the layoffs will be less than 2.5% of the companys total workforce of 220,000. One source stated that the company plans to announce the layoffs next week, but the exact timing may change. Some affected employees will immediately receive new job offers. In previous years, Microsoft has sometimes laid off employees at the start of the new fiscal year on July 1st. Last May, the company cut 6,000 jobs, and in July, it cut another 9,000 employees. These plans highlight Microsofts efforts to control costs while increasing its investment in artificial intelligence.According to Business Insider, Microsoft (MSFT.O) will lay off less than 2.5% of its total workforce.According to Business Insider, Microsoft (MSFT.O) plans to announce layoffs next week.Market news: Microsoft (MSFT.O) plans a new round of layoffs, affecting thousands of jobs.July 1st - According to the Financial Times, Apple CEO Tim Cook and EU technology chief Hena Virkkunen held "constructive" talks on Tuesday, aiming to ease the heated dispute surrounding Apples newly launched "Siri AI" technology. An EU spokesperson stated that the online meeting involved "constructive exchanges on issues of common concern, and related work is ongoing." Two people familiar with the negotiations said the meeting discussed how Apple could launch the revamped Siri in Europe while avoiding millions of dollars in fines for violating the EUs main competition rules.

Owning Government Officials From Working on Regulation

Cory Russell

Jul 07, 2022 16:31

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Government personnel who actively engage in cryptocurrencies or are discovered to be in possession of any are prohibited from taking part in the creation of legislation and policies pertaining to cryptocurrencies, according to a recent directive from the US Office of Government Ethics.

With Some Exceptions

Additionally, the advisory notice made clear that even if the restriction is in effect, it only does so with a de minimis exception.


Owners are still able to invest in cryptocurrencies via publicly listed shares and mutual funds of businesses offering cryptocurrency and blockchain services because to this exception. Stablecoins and all other forms of cryptocurrency are included.


Government personnel are still permitted to acquire cryptocurrencies; but, doing so will prevent them from contributing to the development of crypto-related regulations.


They may still work on such initiatives, however, provided they divert their cryptocurrency holdings into other financial opportunities.


The notification went on to further describe the situation, saying "An employee may not engage in a specific topic if the employee understands that particular item might have a direct and predictable influence on the value of their cryptocurrency or stablecoins."


However, even for those who are permitted to invest in cryptocurrency-related stock index listings, a $50k threshold has been imposed over which the de minimis exemption is no longer applicable.

Crypto investors suffer a loss

The cryptocurrency market isn't in the greatest of health right now, even if the Biden administration is concentrating on creating laws for cryptocurrencies after the POTUS issued an executive order for the same.


The continued bearishness is having an impact on cryptocurrency firms as the overall market value of all cryptocurrencies is struggling to reach $1 trillion.


Voyager Digital has filed for Chapter 11 bankruptcy a week after stopping the platform's withdrawal, trading, and deposit services after Harmony almost went bankrupt a while back.


Thus, even without the US GOE's decision, it would only have taken these investors a little longer to leave the market, similar to how many other investors are already doing.

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