FOX Business’ Lydia Hu reports that workforce worries are growing as more office tasks can be done with artificial intelligence and automation. Over the next five years, hundreds of millions of white-collar workers around the world will see their jobs replaced by the tech industry’s premier innovation: AI. But a tech expert has warned the … Read more
WASHINGTON, March 30 (Reuters) – Technology ethics group Center for Artificial Intelligence and Digital Policy is calling on the U.S. Federal Trade Commission to stop OpenAI from releasing new commercial versions of GPT-4, which has appealed to some users and caused distress to others with its quick and human responses to queries. In a complaint … Read more
Manufacturing PMI 51.9 in March vs. 52.6 in February Non-manufacturing PMI rises at fastest pace in nearly 12 years BEIJING, March 31 (Reuters) – Chinese manufacturing activity expanded at a slower pace in March, official data showed on Friday, raising doubts about the strength of a post-COVID factory recovery amid decline in global demand and … Read more
Huawei reported net profit for 2022 of 35.6 billion yuan ($5.18 billion), down 69% year-on-year. That’s the biggest annual drop since 2011, according to CNBC’s calculations. Huawei blamed rising commodity prices, tight pandemic controls in China last year and a one-time gain from the sale of Honor last year as reasons for the profit slump. … Read more
The main reason for the 1.6 percentage point decline was lower energy costs. These figures are not enough proof that the European Central Bank could consider pausing its rate hike cycle, which began in July. The ECB raised rates by 50 basis points in March, bringing its main benchmark rate to 3%. However, he gave … Read more
March 30 (Reuters) – E-commerce company JD.com Inc (9618.HK) plans to divest its real estate and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion dollars each, two people with direct knowledge said Friday. The plan marks the latest overhaul of China’s tech sector after a sweeping regulatory … Read more
Gold traded up double digits today. The gains are the result of two factors and tomorrow’s PCE inflation report. Currently, the April 2023 gold futures contract is trading up $14.20 and set at $1981.10. Meanwhile, the June 2023 gold futures contract is set at $1998 up $13.50. Today, the June contract hit an intraday high … Read more
The average long-term mortgage rate in the United States fell slightly this week to its lowest level in six weeks, just as the spring buying season begins. Mortgage buyer Freddie Mac today announced that the benchmark 30-year average fell for the third week in a row, to 6.32%, from 6.42% last week. A year ago, … Read more
By Annabelle Liang business journalist 3 hours ago source of images, pristine orbit Legend, Sir Richard Branson British billionaire Sir Richard Branson’s rocket company Virgin Orbit has announced it will lay off 85% of its staff after failing to secure new investment. The company will also cease operations for the foreseeable future, according to media … Read more
TOKYO, March 31 (Reuters) – Japan said on Friday it would restrict exports of 23 types of semiconductor manufacturing equipment, aligning its trade controls on the technology with U.S. pressure to limit China’s capacity to manufacture advanced chips. Japan, home to the world’s major chip-equipment makers such as Nikon Corp (7731.T) and Tokyo Electron Ltd … Read more
