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Monthly Archives: June 2023

China decoupling would be ‘suicide’ for Europe: Hungary’s Péter Szijjártó

European leaders have struggled to formulate a unified Sino-European strategy, with some states echoing U.S. calls for a complete disassociation — or decoupling — while others have preferred a softer, derisking approach. Thomas Trutschel | Photothek | Getty Images Hungary’s foreign minister said Tuesday that any move to decouple, or …

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Remote workers who flocked to Zoom towns are fighting to stay WFH

Fully remote jobs are getting harder to come by, but the competition for work-from-home jobs is especially fierce in some parts of the country. In Bend, Ore., nearly 3 in 4 job applications are to roles that are remote, according to LinkedIn’s latest Workforce Insights Report, which analyzed more than …

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central banks will have to hold rates high for much longer

Major central banks will have to keep interest rates high for much longer than some investors expect, Gita Gopinath, first deputy managing director of the International Monetary Fund, told CNBC Tuesday. “We also have to recognize that central banks have done quite a bit … But that said, we do …

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Global economies are out of sync; 2024 will be a ‘year of contraction’

Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty Images The U.S. will enter a downturn in the fourth quarter, followed by a “year of contraction and a European recession in 2024,” according to …

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Baidu claims its Ernie Bot beats OpenAI’s ChatGPT on key A.I. tests

Chinese technology giant Baidu has launched its own ChatGPT rival, Ernie bot. CFOTO | Future Publishing | Getty Images Baidu said Tuesday the artificial intelligence model underpinning its chatbot outperformed OpenAI’s ChatGPT in several key areas. The Chinese search engine has been publicly testing the Ernie Bot in China since …

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Lagarde says inflation still too high in euro area, cannot declare victory yet

Christine Lagarde, president of the European Central Bank (ECB). Bloomberg | Bloomberg | Getty Images European Central Bank President Christine Lagarde said Tuesday that inflation is still too high and it’s still too early for her organization to declare victory over consumer price rises. Speaking at the Sintra central banking …

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Malaysia’s sovereign wealth fund seeks greater portfolio resilience in volatile markets

Malaysia’s sovereign wealth fund Khazanah Nasional is rebalancing its investment portfolio for greater resilience against market volatility, according to its managing director. Khazanah’s net asset value declined 5% to 81 billion ringgit ($17.4 billion) in 2022 from a year ago, hit by global market downtrends, the fund said in March. …

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China on track to hit its growth target, Li Qiang says at WEF Tianjin

Chinese Premier Li Qiang attends a meeting on June 26, 2023, with the Director-General of the World Trade Organization ahead of the World Economic Forum New Champions meeting in Tianjin, China. Pool | Getty Images News | Getty Images BEIJING — Chinese Premier Li Qiang said Tuesday his country was …

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Microsoft CEO Nadella said revenue would reach $500 billion by 2030

Satya Nadella, chief executive officer of Microsoft Corp., during an event with senior officials and chief executive officers in the East Room of the White House in Washington, DC, US, on Thursday, June 22, 2023. Chris Kleponis | CNP | Bloomberg | Getty Images Microsoft CEO Satya Nadella told fellow …

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Google execs hope new search feature will help amid Reddit blackouts

Alphabet CEO Sundar Pichai delivers the keynote address at the Google I/O developers conference at Shoreline Amphitheatre in Mountain View, California, May 10, 2023. Justin Sullivan | Getty Images News | Getty Images Google users have long been able to append their search queries with the term “Reddit” to find …

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