The latest layoffs at the search giant Google began on Tuesday, when the Alphabet-owned corporation announced that hundreds of workers in its advertising sales team will be let go. The action adds to indications that businesses intend to use automation and artificial intelligence technologies to reduce labour costs this year. Google announced last week that…
BMW’s chief financial officer stated in a media roundtable that the company has passed the turning point for sales of combustion engine vehicles and that electric cars are now responsible for the majority of sales growth. “The tipping point for the combustion engine is already there,” CFO Walter Mertl said, adding that in his view…
Microsoft has surpassed Apple and is now the world’s largest corporation by market capitalization, spurred by its substantial concentration on generative artificial intelligence (AI), an area that has attracted increasing investor favour. The IT behemoth has seen notable market increases over the past year, and it, along with Nvidia and Amazon, placed a great deal…
Even though its quarterly earnings decreased, JPMorgan Chase announced its highest-ever annual profit and projected higher-than-expected interest income for 2024. In addition, the biggest US lender paid about $3 billion to top up a government fund that insures deposits. After purchasing the bankrupt First Republic Bank in May, JPMorgan was able to increase its net…
In posts on social networking site X on Friday, EU antitrust commissioner Margrethe Vestager claimed she met with CEOs of Qualcomm, Apple, and Alphabet to talk about compliance with regulations and competition policies. Vestager’s communications advisor said last week that she would address US CEOs of Apple, Alphabet, Broadcom, and Nvidia on European digital legislation,…
With prices rising over 200% last year—the greatest level in three decades—Argentina has unsulliedly surpassed Venezuela to become the Latin American nation with the highest inflation rate in 2023. The South American grain producer said on Thursday that prices had increased by 25.5% in December alone, for an annual inflation rate of 211.4%. The Venezuelan…
For the first time since 2021, Microsoft momentarily surpassed Apple (AAPL.O) as the most valuable corporation in the world after the latter’s stock had a poor start to the year due to mounting demand fears. Because Microsoft invested in ChatGPT producer OpenAI and took an early lead in generative artificial intelligence, the company’s shares have…
China’s Ministry of Commerce claims that the United States is weaponizing export regulations and utilising them as a tactic. ”We are highly concerned about the United States’ direct intervention and interference in the issue of high-tech exports by Dutch companies to China,” spokesperson Shu Jueting said at the ministry’s first press conference in 2024, according…
Experts believe that China and India’s rising economies would continue to drive coal demand even as they establish ambitious renewable energy targets. While China is the world’s greatest energy consumer, India is rated third, and both countries rely heavily on coal to fuel economic growth. According to forecasts by energy watchdog International Energy Agency, China’s…
The fintech industry suffered even more in 2023, with worldwide investment plummeting by half as rising interest rates and worsening macroeconomic conditions forced investors to tighten their belts, according to global investment estimates provided exclusively with CNBC. According to data from Innovate Finance, a financial technology industry association, investment in fintechs fell by 48% last…
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