August 2, 2025

Atlassian's AI-Driven Layoffs: 150 Employees Let Go

Atlassian announced the layoff of 150 employees as part of a shift towards AI-driven efficiencies, prompting backlash amid the tech industry's growing reliance on artificial intelligence for customer service roles. CEO Mike Cannon-Brookes faced criticism for personal investments even as the company commits to supporting affected employees financially for six months.

August 2, 2025

US Job Growth Slows Down Significantly in July

In July, the U.S. added just 73,000 jobs while the unemployment rate rose to 4.2%. Previous job gains were revised downward by 258,000 jobs, highlighting a weakening labor market and potential implications for Federal Reserve interest rates.

August 2, 2025

Amazon Share Price Declines as AWS Struggles Against Competitors

Amazon.com's share price fell 7% due to concerns over AWS's slow growth compared to Microsoft and Google Cloud. Despite beating Wall Street estimates, AWS's performance raised fears among investors as it grapples with increased competition in AI. Analysts express cautious optimism about Amazon's retail sector, though the focus remains on AWS's future challenges.

August 2, 2025

Kosovo Abolishes Tariffs on US Goods Amid Trump's Global Tariff Strategy

Kosovo has removed tariffs on all US goods, a decision coinciding with President Trump's global tariff announcement. This move aims to boost trade and investment between Kosovo and the United States, reflecting a pro-American sentiment in the region.

August 2, 2025

U.S. Tariff Cut on Bangladeshi Goods Squeezes Indian Textile Stocks

Indian textile stocks, including Kitex and KPR Mill, dropped up to 7% as the U.S. slashed import duties on Bangladeshi goods, raising concerns over margin pressures and competitiveness against Vietnam and Bangladesh in the apparel market.