Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Amazon in Talks to Invest $10 Billion in OpenAI as AI Firm Eyes $1 Trillion IPO Valuation 
MetaX IPO Soars as China’s AI Chip Stocks Ignite Investor Frenzy 
OpenAI Explores Massive Funding Round at $750 Billion Valuation 
Union-Aligned Investors Question Amazon, Walmart and Alphabet on Trump Immigration Policies 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
Oil Prices Slip in Asia as 2026 Supply Glut Fears and Russia-Ukraine Talks Weigh on Markets 
Apple Explores India for iPhone Chip Assembly as Manufacturing Push Accelerates 
Treasury Wine Estates Shares Plunge on Earnings Warning Amid U.S. and China Weakness 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Instacart Inc., an American firm that operates a grocery delivery and pick-up service in the United States and Canada through its website and mobile app, is reportedly getting rid of its staff as it moves closer to its initial public offering.
According to Reuters, Instacart is also reducing its hiring and holding down other expenses ahead of its IPO. These moves were shared by people who are familiar with the matter last weekend.
The sources further said that the company got rid of at least three employees already, and they hold senior-level job roles. The firings were said to have been taking place in recent weeks, however, it was clarified that the job cuts do not include the elimination of executives with top management posts.
Instacart also slowed down its hiring, and currently, the job recruitments are on pause for all positions. On top of this, company managers were also instructed by the Instacart bosses to limit spending on team gatherings, company travels, and other areas.
It was in May when it was first reported that Instacart had secretly filed for IPO with the U.S. securities regulator. The news came not long after the company trimmed down its valuation by 40% to about $24 billion after going through market turbulence.
At any rate, Instacart has already fired about 3,000 employees in the last two months. This happened after it held its mid-year performance reviews. The company’s founder Apoorva Mehta is also said to be stepping down as its chairman and exit once it goes public.
Meanwhile, it was reported by the Wall Street Journal that Instacart would focus on the sale of its workers’ shares in its U.S. IPO, and it stated that it has no plans of raising much capital for the firm. It was noted that only a few companies would go public in the present stock market situation, and yet, Instacart is still pushing with its plans.
Axios reported that it may actually work for Instacart because it is a profitable company and already raised about $39 billion valuation in 2021. Moreover, it has $1 billion of cash in the bank.
