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Monthly Archives: April 2023

Latest cuts start, focused on technical employees

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., left, arrives at federal court in San Jose, California, US, on Tuesday, Dec. 20, 2022.  David Paul Morris | Bloomberg | Getty Images As part of Meta’s latest round of job cuts announced in March, the company on Wednesday started laying …

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Europe approves its $47 billion answer to Biden’s CHIPS Act

Semiconductors have been dragged in the middle of the U.S.-China rivalry. Washington has been trying to convince allies to back its chip export restrictions to China. Wong Yu Liang | Moment | Getty Images The European Union has agreed a landmark plan to boost its chip industry. The initiative, dubbed …

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Crypto falls as investors weigh persistent inflation and rate hikes

Bitcoin has been closely correlated with stock indexes, in particular the Nasdaq, which rose on Wednesday after the U.S. Federal Reserve hiked interest rates by 0.75 percentage point. That’s one reason why bitcoin rose slightly on Thursday. STR | NurPhoto via Getty Images Bitcoin slid toward $29,000 on Wednesday as …

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India’s population is on the brink of overtaking China’s, UN says

People visit the Kartavya Path in the early evening in New Delhi, India, on Tuesday, April 18, 2023. India has overtaken China as the world’s most populous nation, according to UN data released on April 19. Photographer: Prashanth Vishwanathan/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images The United …

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Germany, Poland and others are pushing for new sanctions on Russia’s nuclear energy

Russian President Vladimir Putin. Germany and other EU countries are looking to sanction Russian nuclear energy. Contributor | Getty Images News | Getty Images Germany, Poland and a few other EU nations are pushing for sanctions on Russian nuclear energy, as the bloc looks at new ways to hurt the …

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Goldman Sachs changes call on European Central Bank rate hikes

Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images Goldman Sachs changed its expectations for European Central Bank policy, arguing that recent data, comments from board members, and fewer concerns over the banking sector has allowed for further hawkish action. The investment bank had …

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Finance leaders warn rising rates are squeezing low-income countries

ACCRA, Ghana – Nov. 5, 2022: Ghanaians march during the ‘Ku Me Preko’ demonstration to protest against the soaring cost of living, aggravated since the Russian invasion of Ukraine. Some expressed opposition to the government’s pursuit of IMF assistance. Ernest Ankomah/Getty Images Leaders of several global financial bodies warned that …

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UK inflation rate surprises again with March figure holding above 10%

City workers in Paternoster Square, where the headquarters of the London Stock Exchange is based, in the City of London, UK, on Thursday, March 2, 2023. Bloomberg | Bloomberg | Getty Images U.K. inflation unexpectedly remained in double-digits in March as households continued to grapple with soaring food and energy …

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How tech will transform factories

A robotic arm gets to work at German manufacturer Rittal’s smart factory in Haiger, to the west of Hesse, Germany. Rittal Conversational artificial intelligence that can be used to communicate with equipment and generate machine parts. Digital versions of vehicles and planes that can be modified to fine-tune their physical …

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JPMorgan, Citi raise full-year forecasts for China’s economy

China’s economy grew 4.5% in the first quarter of 2023, beating expectations. Steven Han | Moment | Getty Images Analysts at JPMorgan and Citi raised their full-year forecasts for China’s economy after it delivered an impressive first-quarter gross domestic product growth of 4.5% on Tuesday. JPMorgan raised its 2023 growth …

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