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Microsoft Faces Financial Fallout from Global Azure Outage

Microsoft is experiencing a significant disruption in its Azure cloud services, causing global outages that have affected various sectors including airlines, banks, and emergency services. The disruption has been traced back to CrowdStrike’s security software, which is causing widespread Blue Screen of Death (BSOD) errors on Windows devices. The financial implications for Microsoft are substantial, including potential revenue losses, compensation claims, and damage to its reputation. Businesses relying…

19 July 2024
Gold Price Hits New Record Amid Federal Reserve Rate Cut Expectations

The price of gold has reached a new all-time high, driven by expectations that the U.S. Federal Reserve will lower interest rates. This development is significant as lower interest rates typically lead to higher gold prices. Recently, the price of gold surged to over $2,460 per troy ounce (approximately 31.1 grams), surpassing the previous record set in late May. Gold traders are currently anticipating two rate cuts by…

17 July 2024
Japan Set to Approve $3.3 Billion Aid Package for Ukraine

Japan is poised to approve a $3.3 billion aid package for Ukraine, utilizing interest accrued from frozen Russian assets. This decision, as reported by diplomatic sources to the Japanese news agency Kyodo, underscores Japan’s commitment to supporting Ukraine amid its ongoing conflict with Russia. This contribution forms part of a more extensive $50 billion aid package orchestrated by the G7 nations. Japan’s share, amounting to 6% of the…

17 July 2024
Chinese Economy Grows Slower Than Expected in Q2 2024

China’s economy grew at a slower pace than economists had anticipated in the second quarter of 2024. The world’s second-largest economy continues to grapple with trade tensions with the US and Europe. The United States and the European Union are trying to restrict China’s access to critical technologies to protect their markets from cheap, subsidized Chinese goods. These countries have imposed high import tariffs on China, which is…

16 July 2024
Tesla to Hire Nearly 800 New Employees After Recent Layoffs

Tesla is set to hire nearly 800 new employees, a surprising move given that CEO Elon Musk announced the largest round of layoffs in the company’s history just three months ago. The job openings, analyzed by Bloomberg, span various roles from AI specialists to battery pack installers, across multiple cities in California where Tesla develops and produces batteries. This hiring spree comes despite the company cutting thousands of…

16 July 2024

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