China’s factory output increased 6.6 percent in November, year on year, beating economists’ forecasts. Retail sales jumped 10.1 percent on an annual basis, although they fell short of analysts’ expectations.
Author: admin (Kendrick Williams)
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SPOTLIGHT: OFFICE BUILDING BUST
Hedge funds have become short sellers—investors betting an asset’s value will fall—in commercial real estate.
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LUXURY RETAILERS INDITEX, FARFETCH SEE A BLEAKER FUTURE
Inditex, a Spanish upscale clothier and fast-fashion company that owns the Massimo Dutti and Pull & Bear brands, reported a sales increase of 6.6 percent in the three months ending 31 October, less than analysts had expected and falling by nearly half of the more than 10-percent gain the company had averaged over the past two years.
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ARGENTINA DEVALUES PESO, SLASHES BUREAUCRACY AND GOVERNMENT SPENDING
Javier Milei, Argentina’s chainsaw-wielding new president, has announced a series of sweeping measures that will begin to make good on his pledges to take drastic steps to right the country’s economy.
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IRISH FACTORY OUTPUT SLIPS IN OCTOBER
Ireland’s factory output sank 0.7 percent in October, more than twice the 0.3-percent decline analysts had forecast.
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OPEN-SOURCE CHIPS: AN OLD TECHNOLOGY FOR NEW AIs
In the scramble to get hold of enough chips to serve the exploding AI market, companies are falling back on a technology created more than a decade ago.
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IN BREAKTHROUGH AGREEMENT, OpenAI WILL PAY PUBLISHER TO USE CONTENT
In a precedent-setting agreement, Open AI, parent of ChatGPT, will pay publisher Axel Springer to use the news company’s content to train its AI models and to draw on the content to respond to users’ prompts and queries.
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NEW YORK TIMES HIRES ITS FIRST AI EDITOR
The New York Times has hired Zach Seward, co-founder of the tech, business, and lifestyle website Quartz, as its first editorial director for artificial intelligence.
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THE EV NARRATIVE IS BREAKING DOWN ON A HIGHWAY NEAR YOU
Americans aren’t buying EVs at anywhere near the rates that can sustain an industry.
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‘ZIONIST ENEMIES’ LAUNCH CYBERATTACK ON IRAN GAS STATIONS
Iran blamed a “software problem” for the major interruption on Monday that knocked about 70 percent of the country’s 33,000 gas stations out of service, but an Israeli-linked hacker group claimed responsibility.