U.S.’s assault on China’s chip industry will not affect Samsung or SK Hynix
Insiders revealed the Biden administration intends to exempt SK Hynix (005930.KS) & Samsung (005930.KS) from the impact of new Chinese memory chipmaker limitations intended to impede Beijing’s technology ambitions and hinder its military development.According to the sources, requests from American suppliers to send equipment to Chinese companies like Yangtze Memory Technologies Co Ltd (YMTC) as […]
U.S. employment postings drastically decrease; the labour market begins to relax
The number of job vacancies in the United States decreased in August by the greatest in over 2-1/2 years, indicating that the labour market was beginning to cool as the economy struggled with rising interest rates intended to stifle demand and control inflation.Vacancies remained over 10 million for the 14th consecutive month, even though the […]
Despite a sluggish market, Grab expects no significant layoffs
The largest ride-hailing & food delivery company in Southeast Asia, Grab, is selectively hiring while restraining its ambitions to enter the financial services industry.Grab does not anticipate needing to implement mass layoffs, as some competitors have done.According to Grab’s chief operating officer, Alex Hungate, early in the year, the company was concerned about a worldwide […]
Chinese homebuyers reside in their incomplete, “rotting,” Properties
Ms. Xu has lived in a room in a high-rise condominium in the southern Chinese metropolis of Guilin for the past six months. She purchased the apartment three years ago after being drawn to it by advertisements praising the riverfront views as well as the city’s pure air.Her living circumstances, however, fall far short of […]
Nestle adjusts as hoarding trends in Asia
Inflation has everyone dealing with it differently. Seyda Bal, an Istanbul bank employee, has fallen back into a pandemic-era behaviour of hoarding packaged products like toilet paper and coffee because she is so concerned about the rising cost of food.Bal, 27, claimed that she frequently purchases staples like molasses, tahini, pasta, rice, oil, and pasta […]
Glimpse of U.S. gas suppliers’ straining to satisfy demand
In response to Russia’s invasion of Ukraine, consumers in Europe and Asia are trying to find substitute supplies, while U.S. shale drillers are finding it challenging to supply the high demand for gasoline from domestic generators.Information from the U.S. Energy Information Administration revealed working inventories in below-ground storage tanks reached 2,771 billion cubic feet on […]
China’s mortgage embargo discreetly regroups as building is halted
Despite assurances from officials, a lack of development at more sites threatens to worsen the boycott two months after many Chinese purchasers stopped paying mortgages to oppose the halted building of their residences.The mortgage protest, which was promoted on social media in late June and turned into a rare instance of civil disobedience in China, […]
FedEx reduces its projection & cautions of a worsening economy; shares fall 16%
A global demand slump began at the end of August and was expected to get worse in the November quarter, according to FedEx Corp., which revoked the financial projection it had released just three months earlier on Thursday.Shares of the international delivery company fell more than 16% after it revealed first-quarter sales and profit that […]
China bags energy windfall as Russian supplies fail to attract the West
This year, China has been purchasing fuel supplies from Russia at a steadily decreasing cost, benefiting from a decline in European demand at a time when Beijing most needs it as the Ukraine conflict forces Moscow to look for new markets.Both nations benefit from the expanding partnership, which will further develop when Russian President Vladimir […]
Canada battles with retirement haste, not the lack of employment
Canada is battling its own, older, greyer version of the Great Resignation, The Great Retirement, more than a year since it took root in the United States.The labour force in Canada increased in August but decreased in the two preceding months and is still lower than it was before the summer due to tens of […]