Trump to be deposed, Microsoft asks employees to cut back costs, Deliveroo losses beat estimates

Yahoo Finance's Julie Hyman breaks down leading headlines on Trump's deposition, Microsoft's cost-cutting measures, and Deliveroo quarterly results.

Video Transcript


JULIE HYMAN: Now some other headlines we're watching today, former president Donald Trump will sit down as part of the New York Attorney General Letitia James's civil investigation into the Trump organization. That's according to multiple reports. He is said to be grilled on what James has alleged is a decade long pattern of financial misstatements that were used to gain major tax breaks and bank loans.

It's unclear whether Trump will answer questions or assert his Fifth Amendment right against self-incrimination. We believe this deposition is happening right now. It comes after the FBI searched Trump's Mar-a-Lago residence in what appears to be an unrelated case.

Microsoft is asking its employees to cut back on expenses for things like travel, training, and company events in an effort to better manage costs. That's according to "The Wall Street Journal." Microsoft chief financial officer Amy Hood had reportedly told employees in a company meeting to keep an eye on those expenses and think twice before submitting them. This comes a few days after the company laid off some workers as part of its plan to eventually lay off about 1% of its 180,000-person workforce.

British mail and grocery delivery service Deliveroo posted a core loss of about $82 million in the first half of the year. That was better than analysts had anticipated. It comes after the company slashed its projections in July for order growth this year due to higher energy bills and inflation. The company generated sales from its new ad platform and raised customer fees. And it's increasing its efforts to generate more cash. It also said it's going to exit from the Netherlands because of the presence of its rival there, Just Eat Takeaway.