Samsung Electronics anticipates a significant surge in profits, an increase of approximately 1,800%, driven by robust global demand for artificial intelligence (AI) memory chips.

• The company forecasts operating profits of 89.4tn won (£43.6bn; $58.4bn) for the April-June quarter.
• Samsung, a major South Korean technology firm, is a leading global semiconductor manufacturer.
• This projection follows two previous record quarterly operating profits and highlights the ongoing impact of the AI boom on the semiconductor industry.

Microsoft announced on Monday that it will eliminate approximately 4,800 jobs globally, representing about 2.1 percent of its total workforce, as part of a company-wide restructuring.

• The layoffs will primarily impact the commercial sales division and the Xbox gaming business.
• Key decision-maker: Amy Coleman, Executive Vice President and Chief People Officer at Microsoft.
• The company stated these cuts are a response to the rapidly evolving technology industry and changing customer demands, assuring that AI is not the direct cause of these layoffs.

Shareholders of Old Mutual Holdings PLC have approved a significant balance sheet restructuring worth Sh4.67 billion. This financial manoeuvre aims to clear accumulated losses and pave the way for dividend payments to resume.

• Sh4.67 billion will be transferred from the share premium account to offset accumulated retained losses.
• Key individuals include Old Mutual Group Chief Executive Officer Arthur Oginga.
• The restructuring, approved at the 18th Annual General Meeting on June 30, is non-cash and will not impact daily operations or share ownership.