Month: September 2024
British competition regulator objects to Google’s ad tech practices
The entrance to Google’s U.K. offices in London. Olly Curtis | Future Publishing | via Getty Images LONDON — Britain’s competition watchdog on Friday issued a statement of objections over Google’s ad tech practices, which the regulator provisionally found are impacting competition in the U.K. In a statement, the Competition and Markets Authority alleged that […]
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Nobel winner Joseph Stiglitz says Fed raised rates ‘too far, too fast’ — and now needs to cut big
Nobel Prize-winning economist Joseph Stiglitz says the Federal Reserve should deliver a half-point interest rate cut at its forthcoming meeting, accusing the U.S. central bank of going “too far, too fast” with monetary policy tightening and making the inflation problem worse. His comments come ahead of Friday’s pivotal release of U.S. jobs data, with investors […]
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Netherlands expands export curbs on chip tools with more ASML equipment impacted
An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background. Nurphoto | Nurphoto | Getty Images The Dutch government on Friday announced it is expanding export restrictions on advanced semiconductor manufacturing equipment, bringing more of ASML‘s machines under curbs. More types of chipmaking tools are now subject to […]
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China should focus on fighting deflationary pressure, former central bank governor says
Key Points China’s policymakers need to focus on boosting domestic demand, Yi Gang, former head of the People’s Bank of China, said Friday at the Bund Summit in Shanghai. Yi said he expected the consumer price index to “converge above zero by the end of the year.” “Central banks should avoid prolonged deflation even if […]
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Once the envy of the world, Germany’s car brands now weigh heavily on its struggling economy
Various vehicles and special parts are displayed at Mercedes-Benz Museum, an automobile museum, welcoming its visitors in Stuttgart, Germany on June 28, 2024.. Gokhan Balci | Anadolu | Getty Images Germany’s car industry was once recognized around the world for its high-quality, innovative combustion engine cars. Owning a German car was a luxury and status […]
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The world just sweltered through its hottest summer on record for the second year running
A man uses an umbrella for shade in Seoul on August 14, 2024, during a prolonged heatwave which has gripped much of the country. Anthony Wallace | Afp | Getty Images The summer of 2024 was the hottest on record, according to the European Union’s climate monitor, extending an alarming run of temperature records that […]
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Deep divisions in battleground Pennsylvania over proposed sale of U.S. Steel to Japanese company
A water tower at the United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, US, on Wednesday, Sept. 4, 2024. Justin Merriman | Bloomberg | Getty Images WEST MIFFLIN, Pa. — It’s one the few things Vice President Kamala Harris and former President Donald Trump agree on: opposing the sale of U.S. Steel to the Japanese […]
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Lion King director says AI is a ‘Wild West,’ but has the potential to democratize filmmaking
Lion King directors Roger Allers (L) and Rob Minkoff. Kevin Winter | Getty Images Artificial intelligence is a “Wild West” with “very few rules” — but it has the potential to democratize the film industry in the long term, according to the director of “The Lion King.” Rob Minkoff, who co-directed the classic 1994 animated […]
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Japanese chip equipment firms count on China sales amid U.S. moves to block high-end exports to Beijing
This picture taken on May 1, 2024 shows professors and students looking at a Minimal Fab, a small-scale semiconductor factory that does not require a clean room, at Tokyo University in Tokyo. (Photo by Yuichi YAMAZAKI / AFP) (Photo by YUICHI YAMAZAKI/AFP via Getty Images) Yuichi Yamazaki | Afp | Getty Images Japanese semiconductor equipment […]
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U.S. rolls out new chip-related export controls as China makes industry advances
Digitally Generated Images Wong Yu Liang | Moment | Getty Images The Biden administration is rolling out new export controls on critical technologies, including quantum computing and semiconductor goods, as China makes advances in the global chips industry. Released by the U.S. Department of Commerce on Friday, the rules cover quantum computers and components; advanced […]
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