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Recent Editions
Human Times
North America
Epic Games, the developer of “Fortnite,” is laying off over 1,000 employees and cutting costs by $500m. Chief Executive Tim Sweeney announced the layoffs, attributing them to a decline in “Fortnite” engagement last year. “Despite Fortnite remaining one of the most successful games in the world, we've had challenges delivering consistent Fortnite magic with every season,” he said. The company has faced industry-wide challenges, including slower growth and tougher cost economics. The State of the Game Industry Report from the Game Developers Conference revealed that about one-third of U.S. video game industry workers were laid off in the past two years. Sweeney aims to focus on enhancing “awesome Fortnite experiences” and improving developer tools moving forward.
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Human Times
UK
The Co-op has announced that chief executive Shirine Khoury-Haq will step down at the end of March. The BBC says the news comes weeks after it reported on claims of a "toxic culture" at the top of the food and services group. A letter sent to Co-op board members had complained of "fear and alienation" among even senior staff who felt scared to raise concerns about the direction of the business in front of the leadership team - claims which the Co-op said it didn't recognise at the time. The retailer yesterday revealed higher-than-expected financial impacts from a major cyber attack in April 2025 which forced the shutdown of systems, causing disruption across its 2,300 UK stores and contributing to a £285m hit to 2025 revenues and a £107m impact on profitability, alongside £21m of additional one-off costs. The group said the leadership change reflects the need for long-term direction as it executes a multi-year recovery and growth strategy. Board member Kate Allum has been appointed as interim CEO while a successor is sought.
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Human Times
Europe
Germany’s Finance Minister Lars Klingbeil says he wants to force foreign companies to form joint ventures with local businesses to operate within Europe, in a bid to obtain greater scrutiny of cross-border takeovers. The proposals aim to protect German firms in sectors where they “have fallen behind technologically,” according to a finance ministry document. Bloomberg notes the idea would mirror a method already employed in China. “I know these are tough measures and tough demands,” Klingbeil said. “But they are necessary if we are to safeguard technologies and jobs here in Europe.” Klingbeil also called for changes in income tax that he said would deliver several hundred euros a year in relief to 95% of employees. "Anyone who works hard and works more will finally have more money in their pocket as a result of this reform," he said, adding that higher earners and wealthy asset holders should shoulder more of the burden. The new proposals also seek the abolition of the current income splitting system for married couples, which lowers taxes for partners with unequal earnings.
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Human Times
Middle East
BlackRock chief executive Larry Fink has said people's perception of skilled trades must change. The boss of the world's largest asset manager observed that the average plumber had been portrayed on television as being overweight and having their pants hanging below their waistline, while investment bankers are idolised in drama series like Industry. "I think what we did [was] wrong," he said. "We really put judgment on so many jobs and so many people who probably should not have gone into banking or media or law, probably should have been a great worker with their hands, and we need to now rebalance that approach." He told the BBC that, in the US after World War Two, "we built the foundation of education, and we said to all the young people, go to college, go to college, go to college. And we probably overdid it." He added: "We need to balance that out, and we need to be proud that . . . a career can be just as strong in these fields of plumbing and electricians."
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