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Sony Announces Layoffs: 900 Workers Cut from PlayStation Division, 8% of Global Workforce Affected

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Thiago Prudencio | Lightrocket | Getty Images

Sony Interactive Entertainment revealed on Tuesday its decision to lay off approximately 900 employees within its PlayStation division, constituting 8% of its global workforce. This move marks the latest in a series of headcount reductions seen across the technology sector.

Jim Ryan, President and CEO of the PlayStation unit, conveyed the decision to employees via email, emphasizing the necessity for organizational changes to sustain business growth and development. The layoffs will impact staff members across all regions, with the complete closure of PlayStation’s London studio and several other studios facing closures or reductions.

This announcement follows Sony’s downward revision of sales projections for its flagship PlayStation 5 console on February 14, citing decreased demand. Previously forecasting sales of 25 million units for the fiscal year ending in March, the company now anticipates selling 21 million units. The revision led to a notable decline in Sony’s stock value.

Industry analysts had speculated that Sony might introduce a refreshed version of the PlayStation 5 this year to stimulate consumer interest in the console amidst competitive pressures.

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Where to Trade Gold: A Beginner’s Guide to Vantage and Exness

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Starting your trading journey can be both exciting and overwhelming, especially when choosing the right platform to trade assets like gold. With numerous trading platforms available, selecting one that caters to your needs as a beginner is crucial. Today, I’ll compare two popular platforms, Vantage and Exness, to help you decide which one suits you best.

I’ve personally traded on both platforms and found that while both offer strong features, Vantage stands out for beginners. Let’s break down the differences between Vantage and Exness, focusing on key areas such as tradable assets, regulation, deposit methods, and more.

Key Areas of Comparison

Tradable Assets

Regulation

Minimum Deposit

Deposit Options

Account Support

Copy Trading

By the end of this comparison, you’ll have a clearer understanding of which platform is a better fit for your trading goals.

Tradable Assets: A Broader Market with Vantage

Both Vantage and Exness provide access to trading gold and other popular assets, but Vantage offers a broader range. With over 1,000 CFD products, including Forex, cryptocurrencies, commodities, indices, and stocks, Vantage gives traders more variety to diversify their portfolios. Exness, though comprehensive, has a slightly smaller selection of assets.

Additionally, Vantage has a significantly larger user base, with over 5 million global traders compared to Exness’s 800,000. A larger community often translates into better market conditions, deeper liquidity, and a more robust trading environment, which is beneficial for beginners who want smoother trade executions.

Regulation: Vantage’s Stronger Oversight

When choosing a platform, especially as a beginner, regulation should be a top priority. Vantage is regulated by Tier 1 authorities such as the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA). These top-tier regulators ensure transparency and protection of your funds.

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Exness is regulated by Tier 2 and Tier 3 authorities like the Financial Services Authority (FSA) and CySEC. While these regulators are reliable, the level of scrutiny and protection they offer isn’t as stringent as Tier 1 authorities. For beginners who prioritize security, Vantage’s regulatory standing is a significant advantage.

Minimum Deposit: A Small Investment for Bigger Potential

One of the first things beginners look at is the minimum deposit requirement. Exness offers a low entry point with a minimum deposit of just USD 20, making it more accessible for new traders. Vantage requires a minimum deposit of USD 50, which might seem higher, but the platform also provides a welcome bonus that can increase your trading capital significantly.

For example, Vantage offers up to USD 20,000 in bonus credits, depending on your initial deposit. This bonus feature can be a game-changer for beginners looking to start with more capital without the risk of their own funds. In comparison, Exness does not provide a similar bonus for new traders.

Deposit Methods: Convenience with Vantage

Vantage excels when it comes to deposit options, offering over 50 methods, including popular payment systems like UPI, Google Pay, and PayTM. This flexibility is particularly useful for traders in regions like India, where digital payment methods are preferred.

 

Exness, while offering secure payment methods, supports only around 10 options, which could limit traders who rely on specific local payment systems. If convenience and flexibility in funding your account are important, Vantage has the upper hand here.

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Account Support: Personal Assistance for Beginners

Having access to good customer support can make or break a trading experience, especially for those new to the market. Both Vantage and Exness provide 24/7 live chat support. However, Vantage goes a step further by offering each trader a personal account manager. This feature is a huge advantage for beginners, as it provides individualized guidance and troubleshooting for any issues that arise.

 

Whether it’s a question about your account or advice on improving your trading strategies, having a dedicated account manager can be a confidence booster, helping you get the most out of the platform.

 

Copy Trading: Seamless Integration with Vantage

Copy trading allows beginners to replicate the trades of experienced traders. Both Vantage and Exness offer copy trading, but Vantage’s system is more integrated and beginner-friendly. With Vantage, you can easily access copy trading through their main platform, while Exness requires navigating through a separate environment, which can be inconvenient.

 

Vantage also offers a large pool of experienced traders to follow, with over 70,000 signal providers. Additionally, the app includes customization features like filters and copy modes, allowing traders to tailor their copy trading experience to match their preferences.

 

Vantage’s Welcome Bonus: A Boost for New Traders

One of Vantage’s standout features is its generous welcome bonus. When you sign up and make your first deposit, you can receive up to USD 20,000 in bonus credits. For instance, depositing USD 200 gives you an additional USD 100 in credits, boosting your starting capital without increasing your financial risk.

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To claim your bonus:

 

Open the Vantage app and navigate to the [Promo] page.

Tap the ‘Receive Your Extra 50% Credits’ button.

Make your first deposit and enjoy the extra bonus credits to enhance your trades.

Unfortunately, Exness doesn’t offer a similar bonus, which gives Vantage a distinct advantage for those who are just starting out.

 

Final Thoughts: Why Vantage Stands Out

While both Vantage and Exness are strong platforms, Vantage is more beginner-friendly due to its wider range of assets, stronger regulatory oversight, flexible deposit options, and helpful account management services. The integration of copy trading and a substantial welcome bonus further solidifies Vantage as the ideal choice for new traders looking to enter the world of gold trading and beyond.

 

Ready to Trade? Take advantage of Vantage’s welcome bonus and start trading with confidence today. Download the Vantage app, sign up, and use promo code COPYGET10 to receive an extra USD 10 credit when you deposit USD 50.

 

Caption: Get started with the Vantage app today and explore gold trading along with 1,000+ CFD products. Enjoy up to USD 20,000 in welcome bonuses to give your trading journey a head start!

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Standard Chartered CEO Defends ESG Investing Amid U.S. Backlash

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  • Standard Chartered chief executive Bill Winters defends environmentally conscious investing, dismissing U.S. backlash against ESG.
  • Winters emphasizes the importance of sustainable practices for both the planet and business profitability.
  • Despite political tensions, Winters highlights ongoing engagement with net-zero objectives and business growth.

Standard Chartered CEO, Bill Winters, asserts that environmentally conscious investing remains beneficial for businesses, despite the political backlash against ESG (environmental, social, and governance) initiatives in the United States.

In an interview with CNBC’s “Squawk Box Europe,” Winters addressed concerns surrounding the perception of ESG as “woke capitalism,” emphasizing the importance of prioritizing sustainable practices. He stated, “I mean, I do want to wake up one day and have a planet so if that makes me woke, shoot me.”

Acknowledging the politically charged environment in the U.S., Winters pointed out the irony of Texas, a leading state in renewable power, opposing pension fund managers with ESG agendas. However, he remains committed to sustainable efforts, citing Standard Chartered’s dual-track objectives of achieving net-zero carbon emissions by 2025 and 2050 for its own firm and financed emissions, respectively.

Winters emphasized the alignment of sustainable initiatives with business profitability, noting the continued engagement of clients in pursuing net-zero goals. He highlighted the growth of Standard Chartered’s business supporting sustainable practices, indicating a positive outlook for both environmental impact and financial returns.

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Despite challenges and political tensions, Winters reaffirmed the company’s dedication to sustainability, emphasizing that it is “not philanthropy” but a commitment to “do the right thing for the planet” while ensuring business success.

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Europe’s GRANOLAS: Powering Stock Markets to New Highs Amid Magnificent Seven Comparisons

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Staff | Reuters

In a remarkable feat, just 11 stocks have been the driving force behind half of the gains propelling Europe’s pan-European Stoxx 600 stock index to record highs. Termed the “GRANOLAS” by Goldman Sachs in 2020, these stocks represent a group of “internationally exposed quality growth compounders” with substantial market caps, akin to the Magnificent Seven U.S. tech giants.

Comprising GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L’Oreal, LVMH, AstraZeneca, SAP, and Sanofi, the GRANOLAS collectively account for approximately a quarter of the Stoxx 600’s total market cap. Goldman Sachs analysts underscore their solid earnings growth, high margins, and robust balance sheets as key drivers of this group’s momentum.

Despite trading at high price-to-earnings ratios, typical of growth companies, the GRANOLAS offer significant value compared to their U.S. counterparts. They exhibit lower volatility, contributing to an enhanced Sharpe ratio and making them an attractive investment proposition.

Goldman Sachs forecasts continued strong growth for the GRANOLAS, with a projected 7% compound annual growth rate in revenue through 2025, outpacing the wider market. Moreover, these stocks offer dividend yields in the 2-2.5% range, further enhancing their appeal to investors.

While concerns about concentration risk loom, analysts point out the diversity of sectors represented within the GRANOLAS group, potentially mitigating such risks. However, caution is warranted, as prolonged market complacency could leave equities vulnerable to negative surprises, underscoring the need for prudent risk management strategies.

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As Europe’s GRANOLAS continue to dominate stock market gains, investors are closely monitoring their performance amid comparisons to their U.S. tech counterparts and the potential implications for broader market dynamics.

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