International News 06 May 2026
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Coinbase to Lay Off 700 Employees, Prepares Transition to the AI Era
Coinbase plans to cut about 14% of its global workforce, equivalent to roughly 700 employees. The move is part of a restructuring strategy aimed at reducing costs while repositioning the business for the era of artificial intelligence (AI). According to Reuters on Tuesday (May 5, 2026), management expects the layoffs to be completed by the second quarter of 2026. Alongside this decision, Coinbase estimates it will incur restructuring costs of around US$50 million to US$60 million. These expenses are primarily related to employee severance and other termination benefits, most of which will be recognized in the second quarter of 2026.
https://internasional.kontan.co.id/news/coinbase-phk-700-pegawai-siapkan-transformasi-ke-era-ai
Oil Supply Tightens, Chevron CEO Warns of Potential Impact مشابه the 1970s Energy Crisis
Mike Wirth, CEO of Chevron, warned that signs of a physical oil supply shortage are beginning to emerge globally following the closure of the Strait of Hormuz. The Strait of Hormuz is a critical chokepoint that handles roughly 20% of global crude oil flows. Its closure, driven by escalating conflict between the United States and Iran, has significantly disrupted energy distribution. Speaking at an event hosted by the Milken Institute, Wirth noted that the impact of supply disruptions is becoming increasingly evident as commercial inventories, tanker supplies from the so-called “shadow fleet,” and national strategic reserves begin to decline. “We will start to see physical shortages. Demand will have to adjust to supply, and the economy will slow,” he said, as reported by Reuters
The rupiah touched Rp17,400 on Tuesday (May 5), joining the Malaysian ringgit in leading the decline among Asian currencies.
Asian currencies showed mixed movements in Tuesday’s (May 5, 2026) trading session, with the Indonesian rupiah and Malaysian ringgit leading the declines against the US dollar. According to Reuters trading data, the rupiah weakened by around 0.22% to Rp17,403 per US dollar, compared to Rp17,365 in the previous session. Meanwhile, the Malaysian ringgit fell 0.25% to 3.96 per US dollar, and the Philippine peso also depreciated by 0.23% to 61.707 per US dollar.