U.S. chip maker Wolfspeed has suspended plans to build a €3-billion, cutting-edge semiconductor factory in Germany, damaging chancellor Olaf Scholz’s plan to transform the country into a high-tech hotbed as its flagship auto industry continues to decline.
Volkswagen plans to shut down at least three of its assembly plants in Germany, downsize its other plants in the country, and lay off tens of thousands of workers, Daniela Cavallo, chief of the company’s works council, told Reuters.
The BRICS trading bloc of emerging economies have not created and are not creating an alternative to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), which enables smooth transfer and settlement of international l payments among governments, banks, and businesses.
China will account for 22 percent of global economic growth over the next five years and India 15 percent, according to the International Monetary Fund’s (IMF’s) new economic outlook report.
The economic landscape has presented an array of challenges that have profoundly affected the business community.
The retail, restaurant, manufacturing, and tech industries continue to be hit hard as prices increase and demand slows.
Sales of spirits in the U.S. this year through July fell 3 percent below last year’s volume, according to industry data service IWSR.
The weaponization of the U.S. led international financial system to punish political adversaries came home to roost in a big way this past week, in the form of the BRICS summit in Kazan.
The White House has ordered military and national security agencies to speed their adoption of the most powerful cutting-edge AI systems, including for use in lethal force, according to a new memo sketching out national security plans, Bloomberg reported.
Just ahead of this year’s election, a federal judge in California has quashed that state’s new law banning digitally created deepfake images and videos that include falsehoods about candidates for public office.