Author: Daniel snow
Dollar slumps after Moody's downgrade; euro. sterling appreciate Source link
Cristiano Amon, CEO & President, Qualcomm, on Centre Stage during day one of Web Summit 2024 at the MEO Arena in Lisbon, Portugal. Shauna Clinton | Sportsfile | Getty ImagesQualcomm on Monday said it plans to launch processors designed for data centers to power artificial intelligence, which will link to Nvidia’s chips.Nvidia’s graphics processing units (GPUs) have become a critical component in data centers used to train huge AI models that power applications like chatbots. They are often paired with a central processing unit (CPU) — a market dominated by Intel and AMD.Qualcomm said it is planning to launch a…
U.S. joint military exercise with South Korea in Yeoncheon-gun, South Korea.Getty ImagesSharing the costs of hosting U.S. troops in allied countries has been a favorite topic of U.S. President Donald Trump since his first term in the White House.But as more countries try to eke out a deal to escape the spectre of tariffs in his second term, Trump is making his own moves: bundling negotiations on trade, tariffs, and defense cost-sharing into a single comprehensive deal, which he called “one-stop shopping.”One such country in his sights is South Korea, which is home to about 28,500 U.S. troops known as…
Young professionals are in the office more than other generations, a recent study by real estate firm JLL found.Whitebalance.space | E+ | Getty ImagesSome ambitious Gen Z professionals are leading the return-to-office trend, eager to climb the corporate ladder, learn from their older peers and upend stereotypes about their generation.Born between 1997 and 2012, many members of Gen Z started their first jobs in the midst of the pandemic. As remote and hybrid work became the new norm, the youngest generation at work were often scapegoated for the rise in empty offices, facing a flurry of criticism for being lazy…
Britain’s Prime Minister Keir Starmer and European Commission president Ursula Von der Leyen at the European Political Community summit, in Tirana on May 16, 2025. Leon Neal | Afp | Getty ImagesHopes are high that the U.K. and European Union could finally agree to reset relations Monday, after Britain’s acrimonious exit from the EU in 2020.U.K. Prime Minister Keir Starmer is hosting European Commission President Ursula von der Leyen and other senior officials in London for a much-anticipated summit which is taking place against a backdrop of unpredictable global dynamics — led by the U.S.Talks between both sides intensified in…
Mohamed El-Erian, the former chief executive of bond giant Pimco and Allianz’s chief economic adviser, said the era of U.S. exceptionalism isn’t conclusively over. Source link
An H&M store in New York City on Nov. 19, 2024.Charly Triballeau | AFP | Getty ImagesWhen Gilberto Loureiro spent summers working in a textile factory as a teenager growing up in Portugal, he discovered that he felt “hate and love” for how clothes were produced.The work was tough: Loureiro’s job was to spend long days standing and watching for flaws in woven fabric as it ran through machines at a rate of about 15 to 20 meters per minute.”I really love the textile industry and problem solving, but I hate this … inspection working and inefficiencies and the waste.…
China’s trajectory couldn’t be more different.It already leads global production in multiple industries — steel, aluminum, shipbuilding, batteries, solar power, electric vehicles, wind turbines, drones, 5G equipment, consumer electronics, active pharmaceutical ingredients and bullet trains. It is projected to account for 45 percent — nearly half — of global manufacturing by 2030. Beijing is also laser-focused on winning the future: In March it announced a $138 billion national venture capital fund that will make long-term investments in cutting-edge technologies such as quantum computing and robotics, and increased its budget for public research and development.The results of China’s approach have been…
Asia FX, dollar subdued on Moody's US downgrade; mixed China data in focus Source link
Citizens are shopping at a supermarket in Nanjing, East China’s Jiangsu province, on March 9, 2024. Costfoto | Nurphoto | Getty ImagesChina’s retail sales growth slowed in April, data from the National Bureau of Statistics showed Monday, signaling that consumption remains a worry for the world’s second-largest economy. Retail sales rose 5.1% from a year earlier in April, missing analysts’ estimates of 5.5% growth, according to a Reuters poll. Sales had grown by 5.9% in the previous month.Industrial output grew 6.1% year on year in April, stronger than analysts’ expectations for a 5.5% rise.Fixed-asset investment for the first four months this…