Microsoft exit package<\/p>\n
Tesla, Nvidia, Apple and Microsoft were all trading higher.<\/p>\n
Microsoft is offering voluntary buyouts to about 60,000 employees, the company said on Tuesday NZT, roughly a quarter of its workforce, as the tech giant seeks to cut costs while pouring money into artificial intelligence.<\/p>\n
Staff on select teams in the United States, Canada, India and Britain at vice president level and below will be eligible, a Microsoft spokesperson said, while some groups of employees, including some working on data centres, sales and marketing, are excluded.<\/p>\n
It\u2019s the second voluntary buyout offer that Microsoft has offered employees this year.<\/p>\n
In April, the company reportedly offered around 7% of its US workforce the option to retire early.<\/p>\n
Around 30% of those eligible took the voluntary retirement plan, according to CNBC.<\/p>\n
FTSE dragged down by HSBC<\/p>\n
In London, the benchmark FTSE 100 index was dragged down by HSBC, whose share price fell 5.4% after its bumper profits undershot market expectations.<\/p>\n
Mercedes-Benz shed 3.8% in Frankfurt after the German carmaker cut its full-year outlook, underperforming the DAX index which slightly rose overall in afternoon trading. Paris also rose.<\/p>\n
Earlier, equities rose in Japan and Korea, also boosted by Anthropic\u2019s IPO filing.<\/p>\n
The sale is seen as a crucial test of whether the AI boom can deliver profits, and a disappointing reception could dent enthusiasm further, with traders questioning the vast sums invested in the sector as well as several companies\u2019 financial positions.<\/p>\n
The filing lays out risks for the AI industry, which has faced a string of damaging reports in recent months.<\/p>\n
Seoul\u2019s stock market briefly jumped more than 4% Tuesday thanks to strong gains in chipmakers SK hynix and Samsung.<\/p>\n
Tokyo added 1.8% on spikes in Tokyo Electron, Advantest and SoftBank.<\/p>\n
\u201cSentiment towards technology has improved as investors assess Anthropic\u2019s IPO filing at the start of a week packed with corporate earnings and the Federal Reserve\u2019s rate decision,\u201d Fiona Cincotta, at FOREX.com, said.<\/p>\n
IG analyst Chris Beauchamp said, \u201cThere remains hope that this is a more durable rally than those we saw last week, with the caveat that there is still an abundance of macro risk to navigate this week\u201d.<\/p>\n
Investors are awaiting earnings this week from Magnificent Seven members Microsoft, Alphabet and Amazon as well as SK hynix and Samsung.<\/p>\n
Facebook parent Meta on Monday said it plans to raise $35 billion through a stock offering to fund artificial intelligence development.<\/p>\n
Google parent Alphabet recently raised $85 billion through equity offerings to fund its AI data centre expansion.<\/p>\n
The Fed is expected to keep interest rates on hold in a decision on Wednesday, though CME Group\u2019s FedWatch tool says there is a 70% chance of a hike when it meets in December as inflation rises.<\/p>\n
Those expectations have boosted the dollar.<\/p>\n
The European Central Bank and Bank of Japan are also expected to hold tight in announcements on Thursday and Friday.<\/p>\n
Oil prices fell amid renewed diplomatic efforts to resolve the Middle East conflict and as Israelis went to the polls in parliamentary elections.<\/p>\n
Key figures around 3.30pm GMT<\/p>\n
New York \u2013 Dow: FLAT at 52,382.94 points<\/p>\n
New York \u2013 S&P 500: UP 0.7% at 7,726.34<\/p>\n
New York \u2013 Nasdaq: UP 1.3% at 26,504.59<\/p>\n
London \u2013 FTSE 100: DOWN 0.8% at 10,686.54 (close)<\/p>\n
Paris \u2013 CAC 40: UP 0.7% at 7,887.14 (close)<\/p>\n
Frankfurt \u2013 DAX: UP 0.7% at 25,590.77 (close)<\/p>\n
Tokyo \u2013 Nikkei 225: UP 1.7% at 63,268.37 (close)<\/p>\n
Seoul \u2013 Kospi: UP 3.1% at 5638.34 (close)<\/p>\n
Hong Kong \u2013 Hang Seng Index: DOWN 0.7% at 23,041.32 (close)<\/p>\n
Shanghai \u2013 Composite: DOWN 1.3% at 3650.47 (close)<\/p>\n
Brent North Sea crude: DOWN 1.5% at $114.08 per barrel<\/p>\n
West Texas Intermediate: DOWN 1.6% at $100.09 per barrel<\/p>\n
Pound\/dollar: DOWN at $1.3308 from $1.3349<\/p>\n
Dollar\/yen: UP at 157.87 yen from 157.45 yen<\/p>\n
Euro\/pound: DOWN at 83.77 pence from 83.78 pence<\/p>\n
– AFP<\/p>\n","protected":false},"excerpt":{"rendered":"Microsoft exit package Tesla, Nvidia, Apple and Microsoft were all trading higher. Microsoft is offering voluntary buyouts to…\n","protected":false},"author":2,"featured_media":643350,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[132,6166,167362,138,35702,26675,25337,2082,3014,4322,609,111,139,69,90,29432,1523,22367,47670,12000,8466,12975,1516,370,17918,14578],"class_list":["post-643349","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-132","tag-anthropic","tag-anthropics","tag-business","tag-exit","tag-filing","tag-firms","tag-for","tag-gain","tag-ipo","tag-microsoft","tag-new-zealand","tag-newzealand","tag-nz","tag-on","tag-optimism","tag-over","tag-package","tag-revived","tag-rose","tag-second","tag-sector","tag-staff","tag-tech","tag-titan","tag-tuesday"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/643349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=643349"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/643349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/643350"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=643349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=643349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=643349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}