The Central Bank of Zimbabwe announces a reduction in its policy rate from 35% to 30%.
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Oracle's AI ledger makes two simultaneous subtractions: 13% layoffs implemented, founder cancels over $7.5 billion stock selling plan
Oracle has initiated a new round of layoffs, with some teams experiencing double-digit percentage cuts. The total number of employees for fiscal year 2026 is expected to decrease by about 21,000 compared to the previous year, a reduction of approximately 13%. The company is reducing labor costs to finance expansion of AI infrastructure. The news triggered a sharp drop in the stock price of more than 5%, with a cumulative decline of about 25% since the beginning of the year. Wall Street remains cautious about its investment returns; Morgan Stanley maintains a "neutral" rating, pointing out that profit margin conversion is key to valuation reassessment.
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