Issue link: https://maltatoday.uberflip.com/i/1483841
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,037.49 -344.03 -2.57 13511.75 13533.78 13032.17 13381.52 EUROPEAN MARKETS FTSE 7,251.31 -246.87 -3.29 7498.18 7498.18 7243.44 7498.18 CAC 6,451.79 -328.88 -4.85 6496.25 6617.09 6433.51 6780.67 DAX 13,854.52 -776.84 -5.31 13989.41 14221.71 13826.70 14631.36 ASIAN MARKETS SGX Nifty 16,141.00 -109.00 -0.67 17052.50 17115.00 15500.50 17063.00 Nikkei 225 25,970.82 -478.79 -1.81 26281.35 26357.58 25775.64 26449.61 Straits Times 3,276.06 -116.94 -3.45 3351.24 3363.17 3248.93 3393.00 Hang Seng 22,901.56 -758.72 -3.21 23268.03 23376.37 22786.39 23660.28 Taiwan Weighted 17,594.55 -461.18 -2.55 17939.53 17939.53 17561.07 18055.73 KOSPI 2,648.80 -70.73 -2.60 2689.28 2694.55 2642.63 2719.53 SET Composite 1,662.72 -33.73 -1.99 1683.92 1690.50 1656.62 1696.45 Jakarta Composite 6,817.82 -102.24 -1.48 6912.48 6929.91 6758.86 6920.06 Shanghai Composite 3,429.96 -59.19 -1.70 3474.37 3486.98 3400.21 3489.15 10.11.2022 7 MARKETS International Markets Global Indices Trading Date: 9 Nov 2022 Facebook owner Meta slashes 11,000 jobs FACEBOOK and Instagram owner Meta has announced 11,000 job cuts as founder Mark Zuckerberg apologised for "getting it wrong" on the company's outlook. The redundancies equate to about 13% of the social network's headcount, higher than the 10% expected, and are the first large-scale lay-offs since Facebook launched in 2004. It is thought about 400 of those leaving are based in Ireland where the company employs 3,000 staff. In a message to its 87,000 Facebook employees, chief executive Mr Zuckerberg said revenue had been "much lower than I'd expected. I got this wrong, and I take responsibility for that." He said the company would focus on "high priority growth areas" such as its AI discovery engine, ads and business platforms, as well as its metaverse project. Those leaving the company, which includes the mes- saging service WhatsApp, will be entitled to 16 weeks of base pay plus two additional weeks for every year of service as a part of the severance package and all re- maining paid time off. They will also get cost of health- care for six months. Meta, whose profits halved during the third quarter, said it also plans to cut discretionary spending and ex- tend its hiring freeze through the first quarter. The company's shares, which have lost more than two-thirds of their value, were up about 3% in pre-mar- ket trading on Wall Street. Cuts have also taken place at other major consumer technology companies including Twitter and Microsoft as the lockdown boom has gone into reverse and adver- tising has declined. Twitter's new owner Elon Musk laid off about half its employees – 3,750 – as he restructures the business. TikTok has slashed about $2 billion (€2 billion) off its target for 2022 ad revenue, underscoring the fallout of a global downturn that has also hammered fellow inter- net giants Google and Amazon. TikTok chief executive Shou Zi Chew told a small group of employees that the China-based app has slashed its ad forecast for 2022 to $10 billion from at least $12 billion previously. Mark Zuckerberg, the chief executive of Meta, has pledged to "get more done with fewer resources"