Asian Stocks Steady as Iran War Concerns Persist Ahead of Trump-Xi Summit 
U.S. Urges China to Help Curb Iran’s Actions in Gulf, Rubio Says 
S&P Global Revises Mexico Credit Outlook to Negative Amid Rising Debt Concerns 
SpaceX IPO Faces Backlash Over Elon Musk’s Control and Governance Structure 
FTC Antitrust Probe Targets Arm Holdings Over Chip Licensing Practices 
Telefónica Q1 2026 Earnings Beat Expectations as Debt Declines and Cash Flow Improves 
OpenAI Finds No Evidence of User Data Breach in TanStack npm Supply-Chain Attack 
Asian Currencies Steady as Trump-Xi Summit, Inflation Concerns Boost Dollar 
US-China Trade Talks Sideline Chip Export Controls as Nvidia China Sales Draw Attention 
New Zealand Budget 2026 Focuses on Fiscal Discipline and Infrastructure Investment 
Amazon Faces Class-Action Lawsuit Over Trump Tariff Price Hikes 
Trump Says Iran Ceasefire ‘On Life Support’ as Oil Prices Surge Above $104 
US, Japan Reaffirm Strong Currency Coordination Amid Yen Volatility 
Rubio Discusses Iran Crisis and Strait of Hormuz Disruptions With UK and Australia 
SK Hynix Nears $1 Trillion Market Value Amid South Korea’s AI-Driven Stock Market Surge 
Gold Prices Steady Ahead of Trump-Xi Meeting as Inflation and Oil Concerns Persist 
Wall Street Futures Rise Ahead of Trump-Xi Summit as Tech Stocks Lead Market Rally 
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."
