The city of Hong Kong, facing a fifth budget deficit in the last six consecutive years, plans to chop 10,000 government workers from its payroll and embrace artificial intelligence (AI) to boost its economy.
Tag: Economy
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COVID WAR PERMANENTLY REDUCED BUSINESS TRAVEL
Confirming our forecast made in “Bid Farewell to the Business Travel Economy,” (29 Sep 2020), the owner of British Airways said last week that business travel will never return to its pre-COVID volumes.
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CANADIAN BUSINESSES LOSE CONFIDENCE AS TARIFFS LOOM
Confidence in Canada’s economy among small business owners sank for the third month in a row in the newest survey by the Canadian Federation of Independent Businesses (CFIB).
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CHINA WILL INFUSE THREE MAJOR BANKS WITH $55 BILLION IN CASH
Following up on a broad stimulus commitment made last year to revive its torpid economy, China’s government plans to recapitalize three of its largest state-run banks in the months ahead, people familiar told Bloomberg.
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GOING OUT OF BUSINESS TRENDS
The economic landscape has presented an array of challenges that will profoundly affect the business community this year.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Nearly one hundred companies are expected to lay off employees in March, according to a report in the Economic Times.
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CHINA’S TECHNOLOGY EXTENDS ITS GLOBAL REACH
China’s battery and electric vehicle (EV) companies have been forming collaborations with Western and other Asian countries, but two new deals signal another forward step in China’s worldwide technological advance.
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SPOTLIGHT: BIGS GETTING BIGGER
After sitting out much of the past two years and making minimal distributions to investors, private equity firms are back in action, according to the industry’s newest earnings reports.
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NIKOLA FILES FOR BANKRUPTCY
Nikola, a highly touted start-up that made hydrogen-fueled semi trucks powered by fuel cells, has filed for Chapter 11 bankruptcy, listing $98 million in debt and other financial obligations.
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SPOTLIGHT: BIGS GETTER BIGGER
Drug colossus Novartis will pay as much as $3.075 billion to buy out private equity firm Blackstone’s majority share of Anthos Therapeutics.
