DOJ Grand Jury Investigates UAW President Shawn Fain Ahead of Union Election 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
ASML Raises 2026 Outlook as AI Chip Demand Lifts Q2 Earnings 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
SEB Q2 Profit Rises on Strong Lending, Record Fee Income, Announces New Share Buyback 
BHP Faces Major Port Hedland Strike as Labor Talks Stall Ahead of Production Report 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
DeepSeek Eyes China IPO as AI Startup Seeks $71 Billion Valuation in New Funding Round 
Stellantis Q2 Vehicle Shipments Rise 10% as North America Drives Growth 
SK Hynix Soars 13% in Nasdaq Debut After Record $26.5 Billion IPO 
Stripe, Advent Offer $53 Billion Deal to Acquire PayPal: Reuters 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Victoria's Secret & Co announced on Tuesday this week that it will slash management roles in the company, and around 160 workers are affected. This is said to be equivalent to five percent of the company's workers, including the home office staff and a former Amazon executive that was previously hired.
The job layoffs are necessary as the firm merges its three businesses to form just one organization. The three divisions affected by the reorganization are PINK, Victoria's Secret, and Pink Beauty.
As per Reuters, along with the announcement of job cuts, Victoria's Secret also revealed it has appointed three executives for key leadership roles. They will be directly reporting to the company's chief executive officer, Martin Waters.
The PINK brand has been led by Amy Hauk since 2018, and she is set to take on an additional role in the company as Victoria's Secret unit's chief executive officer. The firm said via an email that its Beauty division would then be integrated into her organization.
Christine Rupp has been given the role of chief customer officer. Prior to becoming part of Victoria's Secret, she worked for Albertsons Cos Inc., Microsoft Corp., and Amazon.com Inc. At Amazon, Rupp was responsible for the launch of Amazon Prime Day and led the e-commerce firm's Fulfillment by Amazon.
The third executive to be appointed in Victoria's Secret restructuring is Greg Unis. He is now the new chief growth officer, but he has been with the company since 2016 as part of PINK Beauty and VS.
"Over the last year, we have progressed a thoughtful revolution of our business by redefining the VS brand and rebuilding our strategy for growth. We can now better connect with and represent our millions of customers around the globe," Victoria's Secret & Co.'s CEO said in a press release regarding the reorganization. "As a result, we have more relevant brand positioning, more compelling merchandise assortments, and a more inclusive culture that celebrates our people."
He added, "With our brand revolution well underway and gaining momentum, now is the time to reimagine our leadership structure to better align with a shifting consumer landscape and become more efficient as an organization."
