We have previously reported on the sudden surge in electricity demand among the data centers where artificial intelligence (AI) requests are processed. The trend will have far-reaching impacts on U.S. economic development, energy use, climate considerations, and regulatory structures. We will continue to follow these developments.
JPMorgan Chase’s investment banking fees rocketed up 50 percent in this year’s second quarter compared to the same period last year, the bank said.
China’s car companies are squeezing out Western competitors faster than expected.
An abrupt slowdown in electric vehicle (EV) sales cut battery giant LG Energy’s profit by 58 percent, year on year, in this year’s second quarter, the company reported last week.
In the four weeks ending 7 July, Russia shipped 3.27 million barrels of crude oil, the least since it invaded Ukraine in February 2022.
The economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, increased minimum wage, looming fears of a recession, and a tangible decrease in revenues for many sectors…
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
German auto companies BMW, Mercedes-Benz, and Volkswagen reported fewer sales in this year’s second quarter than during the same period last year. The drop was due significantly to decreased sales in China, which has become a key market for the companies in recent years.
The International Energy Agency (IEA) has cut its forecast for growth in oil demand next year from 1 million barrels a day to 980,000, “reinforcing its expectations of a major glut this decade,” The Wall Street Journal reported.
The U.K. and France both elected new parliaments this month and the new governments already face seemingly impossible tasks: fulfilling their mandates for dramatic changes while struggling with massive public debt, which has metastasized far beyond pre-COVID levels.