Business & Markets — June 23, 2026

Oracle cuts 21,000 jobs, citing AI adoption. Oracle disclosed it eliminated 21,000 roles over the past year, That makes it one of the largest AI-attributed workforce reductions at a major tech company.

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Senate passes bipartisan housing supply bill. The Senate overwhelmingly approved the 21st Century Road to Housing Act, aimed at lowering home prices and expanding supply, sending the bill to the House.

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Apollo caps redemptions in private credit fund. Apollo is limiting investor withdrawals after exit requests reached 17% in its retail-focused private credit fund, reigniting liquidity concerns across the private credit market.

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South Korea's KOSPI falls nearly 10% in a single session. South Korea's benchmark index posted its steepest drop in months after regulators warned the chip sector's rally was overextended, triggering heavy overseas selling.

Reuters · Read more →