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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…
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…
Unilever has announced plans to cut one-third of its office jobs across Europe, significantly impacting its London and Rotterdam offices the most. According to an internal video message reported by the Financial Times, the cuts will result in the loss of approximately 3,200 jobs out of the 10,000 to 11,000 employees currently working in Unilever’s European offices. This drastic move is part of a broader global restructuring effort…
France’s budget deficit is expected to increase significantly in the coming years, prompting the government to tighten its belt, warned the president of the French central bank. François Villeroy de Galhau expressed his concerns in an interview with the French radio station Franceinfo, citing the results of the parliamentary elections as a particular worry. The victorious left-wing alliance is expected to substantially increase public spending. This increased spending…
Competitors of Apple will soon be able to use the technology in iPhones for contactless payments. The European Commission has made legally binding agreements with the tech company to facilitate this change. Previously, Apple Pay was the only ‘mobile wallet’ allowed to use the NFC chip in iPhones. This NFC technology enables contactless payments in stores via smartphones. Apple had not granted access to this NFC chip to…
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