Amazon’s fresh job cuts hit retail division; under 1,000 white collar staff affected, source says

The Business Times - Oct 8, 2026

Founder Jeff Bezos says continued layoffs have been necessary as the firm overhired during Covid

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Oct 8, 2026

East Hampton Land Purchase: town eyes $36.3m Wainscott mine buy; most acres set as open space

East Hampton Town plans to acquire 38.3 acres of a former sand mine in Wainscott for $36.3 million. The purchase aims to preserve the land for parks and open space, reserving a smaller section for municipal needs. This decision marks a significant change from prior contentious commercial development proposals in the area. A public hearing is set for October 15 to allow residents to voice their opinions.

Oct 8, 2026

Nevada's 700-acre Shakespeare Ranch, listed for $188 million in 2024, now asks $125 million

Nevada’s historic Shakespeare Ranch, first listed for $188 million in 2024, is now asking $125 million after failing to find a buyer. The 700-acre Lake Tahoe estate features multiple homes, a 465-foot private pier and a barn built in 1873. Despite strong demand for luxury waterfront properties in the region, the ranch remains unsold.

Oct 8, 2026

Russia warns of 'false' information as second plague case reported

MOSCOW — Russia warned Wednesday against "false" information as reports emerged of a second suspected case of plague in Siberia, with Washington and Brussels calling for transparency and neighbouring Mongolia tightening health surveillance. Russian news outlet People of Baikal reported last Friday that a 28-year-old woman employed at a plague research institute in Siberia's Irkutsk region had died of the disease, possibly after contracting it from a broken test tube. International concern has meanwhile grown over the death and suspicions that a second employee at the institute fell ill. The United States, the European Union and the World Health Organization have all called on Russia to be transparent about the situation. Mongolia's government said Wednesday that "health surveillance and monitoring measures (were) being implemented at the border" with Russia. WHO chief Tedros Adhanom Ghebreyesus also urged Moscow to clarify "media reports of a second employee with pneumonia of undetermined cause" at the Irkutsk institute. Russian authorities have played down the reports, determining the w

Oct 8, 2026

Vance points to S. Korea's 'political dynamics' amid uncertainty over Alaska LNG project

WASHINGTON — U.S. Vice President JD Vance has pointed to "political dynamics" in South Korea amid uncertainty over Seoul's participation in a proposed liquefied natural gas (LNG) project in Alaska, according to a U.S. media report Wednesday. "I think you have some political dynamics, frankly, in South Korea, but we're going to get this done, whether the current government or the next government in South Korea, or frankly, whether we have to work with the Japanese and other nations, to get it done," Vance told Alaska's News Source in an interview on Tuesday while traveling the state. Vance did not elaborate on what he meant by "political dynamics" in South Korea. "People are desperate for the gas that comes out of the state. It's cheaper, it's higher quality, it's more reliable because it's coming from Alaska as opposed to some tin-pot dictatorship," he said. U.S. President Donald Trump last week announced South Korea's U.S. investment projects under last year's bilateral trade agreement: the construction of a gas-fired power plant in Texas, eight large-scale nuclear power plants and th

Oct 8, 2026

The status of Iran's uranium enrichment programme

VIENNA — U.S. Vice President JD Vance told Reuters on Tuesday Iran must make a "meaningful" reduction in its uranium enrichment capacity to satisfy U.S. demands and end the countries' seven-month war. While it is not clear what exactly he meant, below is a summary of what is known, and not, about the current status of Iran's uranium enrichment programme, which is at the heart of its nuclear infrastructure. What did Iran have before the U.S. and Israel bombed? Israel launched airstrikes on Iran's nuclear facilities on June 13 of last year, soon followed by the United States. In a 12-day campaign, they destroyed or badly damaged the three uranium-enrichment facilities that were known to be operating in Iran at the time. They argued that Iran was getting too close to being able to produce a nuclear weapon, but the UN nuclear watchdog, the International Atomic Energy Agency, said it had no credible indication of a coordinated weapons programme. Iran was, however, enriching uranium to up to 60 percent purity, a short step from the roughly 90 percent of weapons grade. The IAEA, which had acces

Oct 8, 2026

WHO says cannot conduct full risk assessment on Russia plague

GENEVA — The World Health Organization said Wednesday it could not produce a full risk assessment as it did not yet have the whole picture from Russia on the suspected plague death of a laboratory technician. The WHO, the United States and the European Union have urged Moscow to provide more information following the death of the 28-year-old woman in Irkutsk in Siberia. "We don't yet have the full picture of this event and we're not able to conduct a full risk assessment," WHO chief Tedros Adhanom Ghebreyesus told a press conference. "Timely, complete and transparent information sharing under the international regulations is essential to clarify conflicting reports and enable an accurate assessment of potential public and risks." Tedros said the anti-plague laboratory worker died after being hospitalised with severe pneumonia, with initial media reports suggesting pneumonia plague following an accidental lab exposure. "WHO is aware that the Russian government held a meeting on October 2 because they suspected a resident of the Irkutsk oblast had contracted a dangerous infection," he add

Oct 8, 2026

Wall Street retreats from its record as stocks fall worldwide

NEW YORK — U.S. stocks are pulling back from their record on Wednesday. The S&P 500 fell 0.2 percent, a day after topping its prior all-time high set in August. The Dow Jones Industrial Average was down 302 points, or 0.6 percent, as of 1:54 p.m. Eastern time, and the Nasdaq composite was 0.4 percent lower. Stocks felt pressure as yields swung in the bond market. The yield on the 10-year Treasury climbed as high as 5.36 percent in the morning, up from 5.27 percent late Tuesday. Higher yields put downward pressure on prices for stocks and other investments. They can also slow the economy by making it more expensive for everyone to borrow money. But the 10-year yield eased back to 5.29 percent later in the day after the U.S. Treasury sold $39 billion of 10-year Treasurys at an auction, where the median yield was less than 5.26 percent. Yields also swung with oil prices, which continue to yo-yo amid uncertainty about when the war with Iran will allow the industry to return to normal. The International Energy Agency said Wednesday its members support accelerating the release of oil from in

Oct 8, 2026

Trump administration proposes $70,000 fee for int'l students to work in US

WASHINGTON — The Department of Homeland Security on Wednesday proposed a $70,000 fee for international students seeking to work in the United States, the latest effort from the Trump administration to crack down on foreign enrollment. A proposed rule would require schools to pay the fee for every student who participates in the optional practice training program, known as OPT, which allows students to work in jobs related to their major during or after their time in school. Students are generally eligible for one year of work post-graduation, though certain science, technology, engineering and math majors are eligible for an additional two years. Schools would be required to pay the $70,000 for each new student's initial application to the program, and a $30,000 fee for each renewal. The change would represent a blow to American colleges and universities that heavily recruit students from overseas as a source of tuition revenue, as well as tech companies and other industries that hire many international students for technical roles. The OPT program allows international students to gain

Oct 8, 2026

Japanese brands, factories gain traction in Vietnam despite Korean competition

HANOI — About a 30-minute drive northwest of downtown Hanoi on Friday, the entrance to Thang Long Industrial Park came into view after crossing Nhat Tan Bridge, which connects Hanoi with Noi Bai International Airport. At factories throughout the industrial complex, Vietnam’s red flag with a yellow star flew alongside Japan’s flag. Developed by Japanese trading house Sumitomo Corp., the industrial park is, in effect, a cradle of Japanese manufacturing. Beyond the entrance, signs for more than 100 Japanese companies, including Panasonic, Canon and Fujitsu, stretched across a 2.73-million-square-meter site. Some 60,000 Vietnamese workers stream into the complex every day. A female worker at Panasonic said Japanese companies were regarded as more stable, even though Chinese and Korean firms paid higher wages, adding that many employees stayed for years. “Many skilled workers have been here for more than 10 years, and new employees join every month, so the atmosphere is good,” she said. Nguyen Thanh, 32, a management employee at the industrial park, said it had reached full occupancy

Oct 8, 2026

Fed policymakers divided over rate-hike logic in September, minutes show

WASHINGTON — Federal Reserve policymakers were divided last month over the rationale for raising interest rates, with "some participants" seeing a hike as needed to keep the impact of energy and other price shocks at bay, but a more hawkish core viewing it as necessary to guard against emerging demand-driven inflation. The competing arguments were outlined in the minutes of the US central bank's September 15-16 meeting, at which the Fed voted unanimously to raise the policy rate by a quarter of a percentage point even as officials disagreed about whether the move was largely precautionary or represented a shift towards significantly tighter monetary policy meant to curb investment and spending. The split, and the varying interpretations of where the economy stands right now, set up a likely vigorous debate at the October 27-28 policy meeting over whether inflation has taken on a broader, demand-driven dimension that warrants further Fed action now. The alternative would be to wait on further rate hikes to see if incoming data shows energy, tariff and other price shocks receding and i

Oct 8, 2026

What to know about fears of pneumonic plague in Russia

GENEVA — The death of a pathogen researcher in Siberia has raised concerns about the pneumonic plague, as Russian authorities provide little information publicly. The severe disease is less common than the better-known bubonic plague linked to the Black Death in the Middle Ages. Pneumonic plague spreads from person to person, causing a severe form of pneumonia, but recovery rates are high if it is detected and treated in time. The World Health Organization says it has yet to determine the cause of death for the 28-year-old woman, who worked at an anti-plague research institute, and has asked Russia to provide more information. The U.N. health agency has cited initial, unconfirmed reports suggesting pneumonic plague. Russian authorities say the lab worker died of what initially presented as a “typical” acute respiratory viral infection and that no recent cases of plague have been detected, according to the WHO. A local mayor said the hospital where the woman died was placed under quarantine. The case has revived memories of the COVID-19 pandemic and allegations the coronavirus may h

Oct 8, 2026

Trump says 'we don't think' Russian plague is bio-weapon

WASHINGTON — U.S. President Donald Trump said Wednesday that the death of a Russian plague laboratory worker did not appear to be linked to a biological weapon. "We don't think so. We're going to find out soon enough, but we don't think so," Trump told reporters in the Oval Office when asked if a "bio-weapon" was involved. Russia warned earlier against "false" information as reports emerged of a second suspected case. The U.S. and UN have urged Russia to be more transparent. Trump said Russia insisted it had the situation under control, but added that not much information was coming out. "If you listen to them, it's under control. But you know, people have said that before about other things," Trump said of Moscow's response. Referring to China's initial response to the Covid pandemic, Trump added: "Well, China didn't say much, and Russia is not saying much either. But they do say they have it very much under control." Trump reiterated that he has a phone call scheduled with Russian President Vladimir Putin on the issue, but would not say when. "Today is Vladimir Putin's birthday," Trump

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