Microsoft has announced it has cut 4,800 jobs – roughly 2.1% of its workforce – with Xbox to bear a large number of its latest layoffs.

Amy Coleman, executive vice president at Microsoft, told employees in a memo that the tech giant needed to focus on areas that can deliver for customers amid a “fast-changing industry”.

The sweeping layoffs will see more than 1,600 roles immediately axed at Xbox.

Asha Sharma, who recently took over as Xbox’s chief executive, said in a note to staff it was “beginning the most significant restructure in Xbox history”.

Another 1,600 jobs will be lost in the coming year, Sharma said in the note, shared on X, external.

Four Xbox game development studios – Compulsion Games, Double Fine Productions, Ninja Theory and Undead Lab – would also be spun off as part of the changes, she added.

“These changes are about a bigger future for Xbox, not a smaller one,” Sharma said.

“History is full of companies that mistake longevity for inevitability. We will not be one of them.”

Coleman meanwhile pointed to a changing customer needs in announcing Microsoft’s company-wide cuts.

“Companies don’t get to choose whether their industry changes; they only get to choose whether they change with it,” she said.

She noted that while the company would not replace the lost roles with AI, “what is true is that AI is changing how work gets done”.

Leaked documents reveal that Chinese surveillance firm Geedge Networks, in collaboration with government-backed researchers, has been developing AI technology designed to predict political dissent by analyzing vast amounts of citizen data. The system aims to assign “risk scores” to individuals based on their digital footprint, including communication records, internet usage, location data, and social associations.

Key Points

• The surveillance system integrates diverse data points—such as VPN usage, foreign news consumption, travel history, and activist associations—to calculate the probability of a citizen engaging in anti-government activities.
• Geedge Networks, led by “father of China’s internet censorship” Fang Binxing, uses deep packet inspection and mobile monitoring to consolidate real-time user data for predictive profiling.
• Researchers and security organs intended to use the AI to manage “data overload,” allowing authorities to identify and suppress dissent without the need for manual, mass-scale monitoring.
• Legal experts and international observers warn that this technology could lead to the blacklisting of innocent citizens based on algorithmic errors, mirroring concerns about predictive policing.
• Development of the most ambitious versions of this technology has been significantly slowed by U.S. sanctions, which restrict China’s access to the advanced GPUs required to process population-wide behavior data.

Geedge Networks integrates a wide range of personal data to calculate the “political risk score” of Chinese citizens by aggregating and merging information from various digital and physical spaces.

The specific categories of personal data being integrated include:

• Communication Data:
  • Real-name mobile phone numbers.
  • Messenger account links.
  • Call records.
  • Wiretap audio from phone calls.
• Digital Footprints and Online Activity:
  • Internet browsing history (specifically monitoring viewing habits, such as visiting foreign news sites).
  • Social media activity.
  • VPN usage history (to track attempts to circumvent censorship).
  • Unique device identifiers and IP addresses.
• Physical Movement and Interaction Tracking:
  • GPS signals.
  • Base station records.
  • Surveillance video data.
  • Time-series trajectories used to map when an individual passes by a protest site and identifying which activists they have had contact with.
• Miscellaneous Personal Consumption/Behavioral Data:
  • Records of books purchased.
  • Records of movie theater attendance.

The system functions by linking these disparate data points to create a comprehensive user profile, which is then analyzed to determine the probability that an individual will engage in political dissent or anti-government protests.

While this initiative raises significant concerns regarding human rights and the potential for preemptive blacklisting, experts suggest that U.S.-led semiconductor export controls have currently hindered China’s ability to acquire the high-performance computing power necessary to fully deploy such a massive, real-time predictive model.

Other People are Reading

MEXICO CITY — England midfielder Jordan Henderson was taken to a hospital with what manager Thomas Tuchel described as a serious wrist injury after slipping over an advertising hoarding during the team’s postgame celebrations following England’s 3-2 Round of 16 win over co-host Mexico on Sunday night.

The incident occurred after England’s players headed toward their traveling supporters behind one of the goals at Estadio Azteca for the team’s now-traditional postgame rendition of Oasis’ “Wonderwall.” According to multiple reports, Henderson attempted to jump over an advertising board during the celebration and slipped while climbing back toward the pitch, landing awkwardly on his elbow and wrist. Medical staff attended to him on the field, with reports indicating he was given oxygen before being transported to a local medical facility. The 36-year-old was later stretchered off and taken to hospital for further treatment.

Speaking to media after the match, Tuchel confirmed the severity of the injury. “He injured his wrist, he is at the moment in the hospital,” Tuchel said. “It is a quite serious injury. It just doesn’t fit to the evening that Jordan is now not with us. I don’t know the procedure which is going on. I just did the press and the doctor told me he’s in the hospital.” Speaking separately to ITV, Tuchel added, “Not good, not good. Jordan fell over and injured his wrist.”

Tuchel also reflected on the mixed emotions of the night, saying, “It’s a very special night for us. Mixed feelings because I am exhausted and emotional but also sad because Jordan got injured, he injured his wrist and is at the hospital at the moment.” He noted that he had not received a detailed update on the medical procedure Henderson was undergoing at the time of his postgame media availability.

Henderson remained in Mexico City on Sunday night accompanied by a member of England’s medical staff, while the rest of the squad flew back to the team’s training base in Kansas City, Missouri, ahead of the team’s upcoming quarterfinal match. According to reporting from Goal, medical assessments were expected to continue over the following 24 hours to determine the full extent of the damage to Henderson’s arm and wrist.

The injury came at the end of what was otherwise a historic night for England, which secured a 3-2 win over Mexico to reach the World Cup quarterfinals, marking the best win by an England men’s team on foreign soil in the program’s history, according to ESPN. The match itself was eventful, with Jarell Quansah shown a red card following a VAR review, forcing England to play most of the second half a man down. Jude Bellingham scored twice in a dominant first-half showing, while Harry Kane converted a second-half penalty to help see the Three Lions through to the next round.

Henderson’s involvement in this year’s tournament had already been limited heading into Sunday’s match. The Brentford midfielder made history earlier in the tournament by becoming the first England men’s player to appear at four separate World Cups when he came on as a substitute against Panama during the team’s final group-stage match, a brief six-minute cameo that marked his only playing time of the tournament to that point. Despite his reduced on-field role under Tuchel, Henderson has continued to serve as a senior figure within the squad, with his leadership and experience regarded as valuable components of the team’s dynamic even in a limited playing capacity.

Following the match, England captain Harry Kane offered a brief update on his teammate’s condition, telling reporters that he believed Henderson was going to be okay, though he described the injury as an arm injury without providing further specifics at the time. Kane’s comments came shortly after his own second-half penalty helped secure England’s win, extending his tournament tally as he continues to push for the World Cup’s Golden Boot award.

Teammate Jude Bellingham, who scored twice in the win, addressed the broader mood of the squad following the match, saying, “We’ve done something incredible tonight, no doubt about it, and we’ll enjoy it. And we’ll sing songs until we lose our voices on the plane and whatnot, but we’ll have a couple of days recovering, then it’s straight back to business in terms of facing Norway.”

England is scheduled to face Norway in the World Cup quarterfinals on Saturday in Miami Gardens, Florida, a matchup set up after Norway eliminated five-time champion Brazil in a stunning 2-1 upset earlier the same day, led by a brace from striker Erling Haaland. Henderson’s injury adds an element of uncertainty to England’s preparations for that match, with the team’s medical staff continuing to evaluate his condition in the days leading up to the quarterfinal.

As of the latest available reporting, England had not issued a formal statement on Henderson’s specific diagnosis, prognosis, or expected recovery timeline beyond Tuchel’s initial comments describing the injury as serious. The team’s coaching staff and medical personnel were expected to provide further updates on his status as the squad continues preparations in Kansas City ahead of traveling to Florida for Saturday’s quarterfinal.

The injury has cast a shadow over what was otherwise one of the most celebrated victories of England’s tournament so far, with players and staff processing what Tuchel described as a mix of exhaustion, emotion and concern in the immediate aftermath of the win. Henderson’s status for the remainder of the tournament remains unclear, and it is not yet known whether the injury will require surgery or an extended recovery period that could rule him out for the rest of England’s World Cup campaign.

Gloucestershire and Cumbria firms among Ranger’s 25 brands

A private equity-backed fire and security business has made two more acquisitions and now has more than 25 firms under its umbrella.

Ranger Fire and Security has been buying “local hero” businesses across the UK to become a nationwide fire and security group.

It has now acquired Cirencester’s CIA Fire and Security and its three businesses to strengthen its Southern operations. Meanwhile, the group has boosted its Northern business with the takeover of AKD Fire and Security in Cumbria.

Ranger and its acquisition strategy are backed by mid-market firm Inflexion and by Hyperion Equity Partners, which has made a “significant reinvestment” in the group. The latest deals mean the Ranger group includes 25 businesses and has more than 500 employees as it aims to become “the leading one-stop provider for fire and security services across the UK and Ireland”.

CIA Fire and Security includes three businesses – CIA, PFS, and Pioneer Automated Controls – all of which will join Ranger along with their 80 staff.

CIA was founded in 1982 to offer services including fire alarms, intruder alarms, CCTV, extinguishers and keyholding. It went on to acquire fire and security maintenance led business PFS, and Gloucester-based fire and security maintenance firm Pioneer Automated Controls.

Matthew Harrison, managing director of CIA Fire and Security said: “Becoming part of the Ranger Group marks a significant moment for our team, enabling us to extend our services to new customers across the local region and beyond.

“Working alongside Ranger’s group of industry experts will give us a greater opportunity to cross-sell and we look forward to bringing our own experience and skill set to the Group, including strengthening the business’s service delivery and expanding their fire and security offering.”

Cumbria fire and security specialist AKD has a customer base spanning commercial, hospitality, public sector and residential property. Ranger says the group strengthens its North West operations, “bridging the gap between its North West hub, Syncro, and its Scottish hub, Secureshield, in Motherwell”.

Mark Bridges, CEO of Ranger Fire and Security, said: “Our two latest acquisitions, CIA Fire and Security and AKD Fire and Security, bring decades of industry experience to the Ranger Group and will help extend our presence across the North West and South of England. With existing Ranger businesses already well-established in both regions, our two new companies will be able to bring their experience and knowledge to the team, helping Ranger meet more of the fire and security needs of local businesses.

“With backing from Inflexion we will continue to step up our acquisition strategy, bringing on board the UK and Ireland’s best fire and security experts to fulfil our mission of becoming the one-stop shop for all customer’s fire and security needs.”

Shares of Space Exploration Technologies Corp. continued to trade higher Monday morning as investors positioned ahead of the company’s addition to the Nasdaq-100 index, a milestone scheduled to take effect before markets open Tuesday and one that will mark the fastest index inclusion in the benchmark’s history.

SPCX shares stood at $163.79, up $1.79, or 1.10 percent, as of 10:19 a.m. Eastern time, according to Google Finance data. The move comes just 15 trading days after SpaceX’s initial public offering, which priced shares at $135 on June 12 and raised between roughly $75 billion and $85.7 billion, depending on the reporting source, making it the largest IPO in market history and valuing the company at approximately $1.77 trillion at the time of its debut.

SpaceX’s rapid path to inclusion in the Nasdaq-100 was made possible by a relatively new exchange rule that fast-tracks large initial public offerings into the index after just 15 trading days, a significant reduction from the longer waiting period previously required of newly listed companies. Nasdaq confirmed the inclusion on June 27, setting the stage for the company’s shares to become part of a benchmark that underpins more than $800 billion in tracked assets, including the widely held Invesco QQQ Trust and numerous retirement and 401(k) funds.

The stock’s performance since its debut has been volatile. Shares initially surged to an intraday high of $225.64 in the days following the IPO before retreating sharply, falling as much as 28 percent from that peak. Last week alone, SPCX shares dropped 16.4 percent after analysts at KeyBanc adopted a more cautious stance, arguing that the stock’s valuation had become increasingly stretched following its post-IPO rally. Shares closed Friday at $153.23, just above the IPO price, before climbing again in Monday’s trading session.

Analysts have offered a range of estimates for how much buying activity the Nasdaq-100 inclusion could generate as passive funds adjust their portfolios to reflect the index’s updated composition. Some projections suggest the Invesco QQQ Trust alone could purchase as much as $4.3 billion worth of SpaceX shares, while broader estimates across Nasdaq-100 and Russell index-tracking funds have ranged from approximately $7.3 billion to as much as $27 billion. That wave of anticipated demand is notable given how limited SpaceX’s public float remains: the company has roughly 13 billion shares outstanding, but only an estimated 3 to 5 percent are currently available for public trading, with Musk’s approximately 42 percent ownership stake locked up until June 2027.

That tight supply-demand dynamic is expected to persist for some time. According to reporting from TradingKey, SpaceX insiders are not expected to become eligible to sell meaningful portions of their holdings until around August 6, when the company is scheduled to report its first quarterly earnings as a public company. At that point, insiders could sell up to 20 percent of their holdings, with an additional 10 percent becoming saleable if shares trade at least 30 percent above the $135 IPO price for five of any 10 consecutive trading days. The remainder of locked shares are set to become available on a staggered basis through December 2026.

Some market analysts have cautioned against assuming the Nasdaq-100 inclusion will necessarily provide a sustained boost to the stock. Historical examples cited by market observers include Palantir and Strategy, both of which joined the index in December 2024 and saw their share prices peak around or shortly before their respective inclusion dates, with Strategy shares later falling roughly 80 percent from their peak in the months that followed. Given SpaceX’s own sharp post-IPO volatility, some analysts have suggested the stock could face similar pressure once the immediate index-driven buying subsides.

Beyond the technical dynamics surrounding the index addition, attention has also turned to SpaceX’s broader corporate strategy. Following the completion of the IPO, analysts at Baird said they believed investor focus could increasingly shift toward the possibility of a merger between SpaceX and Tesla, the electric vehicle maker also led by Musk. “We see the strategic rationale for a merger as clear and compelling with both companies benefitting from greater scale,” the firm wrote in a note, adding that it did not anticipate significant regulatory scrutiny given the limited overlap between the companies’ respective end markets. Baird noted that the timing of any such transaction remained difficult to predict, suggesting a period of integration was more likely in the near term as SpaceX works to absorb its recent merger with Musk’s artificial intelligence company, xAI, while also adjusting to its new status as a publicly traded company.

That merger with xAI, completed earlier this year, has reshaped SpaceX’s underlying business structure into three primary segments. The Connectivity division, anchored by the Starlink satellite internet business, generated roughly 61 percent of the company’s total revenue in 2025. The Space segment includes the company’s Falcon 9 and Starship launch operations, while the newly integrated AI division encompasses the Grok large language model, the X social media platform, and broader AI computing infrastructure. Starlink’s subscriber base has continued to expand rapidly, surpassing 10 million subscribers globally, more than double the 5.5 million subscribers the service had at the time of SpaceX’s June IPO.

Financially, SpaceX reported $4.7 billion in revenue during the first quarter of 2026 and disclosed cash and cash equivalents of approximately $100.8 billion as of June 19, following a senior unsecured notes offering used in part to repay bridge financing tied to earlier stages of the company’s growth. Even so, some valuation metrics have raised concerns among analysts, with the stock’s price-to-sales ratio estimated at various points between roughly 79 and 112 times trailing sales, a level that remains elevated even compared with other high-growth technology companies.

With Tuesday’s Nasdaq-100 inclusion set to bring SpaceX into the portfolios of millions of index-fund investors who never directly chose to own the stock, market attention in the coming weeks is expected to focus on how the company’s limited public float absorbs the anticipated wave of passive buying, as well as on SpaceX’s first earnings report as a public company, expected in early August, which analysts have identified as the next significant test of the stock’s long-term valuation and growth trajectory following one of the most closely watched public debuts in recent market history.