CNBC

Google Shares Plans to Boost Productivity Amid Uncertainty; Don’t rule out layoffs

• alphabet inc WELL Google Google launched a new initiative called “Simplicity Sprint” to increase efficiency and improve employee focus amid macro uncertainties.
• CEO Sundar Pichai asked for input from employees during his regular all-hands last Wednesday. By August 15, he wanted to use an internal survey to collect ideas for faster product development.
• Pichai acknowledged that Google’s productivity was nowhere near matched, although headcount reflects a challenging macro environment with even greater uncertainty.

Reuters

Lufthansa pilots opt for industrial action instead of payment

• With 97.6% yes votes for industrial action, the pilots of the flagship of Germany, German Lufthansa AG DLAKYthreatened with additional disruption during the busy summer travel season.
• According to Marcel Groels, board member of the Vereinigung Cockpit (VC) pilots’ union, the vote does not necessarily mean a strike. Still, it signaled to the employer that constructive steps needed to be taken.
• “We’re showing that we’re ready to talk,” he added.

HSBC aims to return the quarterly dividend to pre-COVID-19 levels as soon as possible

• HSBC Holdings plc HSBC Revenue for the second quarter increased 2% to $12.8 billion, primarily reflecting interest rate hikes partially offset by an adverse development in the market impact in insurance manufacturing in WPB, currency translation effects and losses on proposed divestitures.
• Customer loans decreased $27 billion in Q2 22 due to currency translation effects. The net interest margin of 1.35% increased by nine basis points from 1Q22.
• HSBC has pushed back a proposal by top Chinese shareholder Ping An Insurance Group Co to split the company, Reuters reported, citing huge one-time execution costs, higher taxes and ongoing running costs.

Facebook has one week to comply with hate speech norms in Kenya; The country rules out the termination of services

• Kenya not…