China’s new restrictions on exports of rare earth elements crucial in products from smartphones to radar systems and medical devices will lead to “broken” supply chains and hike prices around the world for tech products, industry leaders have warned.
The world’s economy will grow by 3.2 percent this year, the International Monetary Fund (IMF) said in a new forecast, raising its expectations slightly from the 3 percent it projected in July. Global GDP will expand by 3.1 percent in 2026, the agency now expects.
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
As AI continues to take over human jobs, Salesforce laid off 4,000 employees as it switched to an AI-powered workplace management system.
After pressuring Chinese tech companies to use only domestically made computer chips, Beijing in mid-September ordered a halt to all purchases of chips made in the U.S.
A 5-percent gain in North American sales was not enough to offset a sharp 26-percent drop in purchases in China, resulting in Porsche posting a 6-percent decline in sales worldwide this year through September.
After Beijing tightened restrictions on exports of minerals and refining technologies crucial to U.S. high-tech industries, Donald Trump announced the U.S. will impose a 100-percent tariff on Chinese imports beginning 1 November and will place more stringent export controls on "any and all critical software".
The economic landscape has presented an array of challenges that have profoundly affected the business community this year.
The U.S. government shutdown has resulted in 4,000 federal workers losing their jobs. Many of the layoffs took place at the Treasury Department and the Department of Health and Human Services, where approximately 1,600 were laid off. The Department of Education laid off 460 employees including most of the staff at the Office of Special Education and Rehabilitative Services.
Coty, the 121-year-old beauty products brand, is investigating the pros and cons of “partnerships, divestitures, and spin-offs” as it looks to unload its consumer beauty product line, the company has announced.