Reuters

Which recession? AmEx shares ambitious hiring plans as colleagues lay off staff

• American Express Co AXP shared plans to hire 1,500 people for tech roles to allay concerns about the slowdown as his colleagues cut jobs and cut spending.
• The new hires would fill positions such as data scientist, software engineer, and others by the end of the year.
• AmEx had already hired 3,600 tech workers this year.

PepsiCo ends production of Pepsi, 7UP in Russia

• beverage giant PepsiCo Inc PEP stopped production of Pepsi, 7UP and Mountain Dew in Russia.
• The end of production comes six months after the company halted its sales and production in the country in response to the Russian invasion of Ukraine.
• Supermarkets and retailers in Russia are said to have stocks with July and August production dates.

Exxon undecided on auction bid for Guyana Oil Assets despite ramping up production

• ExxonMobil Corp XOM has not yet decided whether it will bid for new offshore areas in Guyana as the company is ramping up production faster than expected.
• Exxon has told the government that it will await economic conditions before deciding whether to expand its acreage.
• An Exxon-led consortium discovered oil in the deep waters off the coast of Guyana, started its first production in 2019, and now controls all production.

Chevron is considering divesting minority interests in three Alaska-based oil fields

• Chevron Corporation CVX intends to divest its interest in over 2,000 oil and gas wells in Alaska, marking its second exit from oil production in the state in 30 years.
• Bids are due this month and the sale could fetch about $450 million to $550 million.
• The company is offering stakes in three oil fields. It holds about 10% of the Endicott Field in Alaska, 5% of the Kuparuk Field and 1.2% of Prudhoe Bay.

Kia Mulls EV production by Hyundai in USA

• Hyundai Motor Co.,Ltd. HYMTF own automobile manufacturer Kia Corp. is expected to introduce electric vehicles in the US from 2024.
• The news first…