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16 Apr IMF upgrades global growth forecast as economy proves ‘surprisingly resilient’ despite downside risks

Posted at 15:01h in Europe

Crowds walk below neon signs on Nanjing Road. The street is the main shopping district of the city and one of the world's busiest shopping districts.Nikada | E+ | Getty ImagesThe International Monetary Fund on Tuesday slightly raised its global growth forecast, saying the economy...

16 Apr Lagarde says ECB will cut rates soon, barring any major surprises

Posted at 14:01h in Europe

Christine Lagarde, president of the European Central Bank (ECB), at a rates decision news conference in Frankfurt, Germany, on Thursday, April 11, 2024.Bloomberg | Bloomberg | Getty ImagesEuropean Central Bank President Christine Lagarde on Tuesday said the central bank remains on course to cut interest...

16 Apr China’s semiconductor output jumps 40% in first quarter amid growing dominance in legacy chips

Posted at 13:30h in Asia

China’s total integrated circuit (IC) output surged 40 per cent to 98.1 billion units in the first quarter, a sign that the country is expanding its production of older-generation chips while being constrained by US trade restrictions on advanced chip-making equipment.National IC output jumped 28.4...

16 Apr Inflation up slightly to 2.9% in March, thanks to gasoline and shelter prices

Posted at 12:42h in Canada

BusinessThe consumer price index shows inflation was at 2.9% in March compared to the year before, a slight increased compared to February.Year-over-year inflation up slightly, compared to 2.8% gain in FebruaryCBC News · Posted: Apr 16, 2024 8:42 AM EDT | Last Updated: 33...

16 Apr Baidu claims 200 million users for Ernie chatbot, in sign that generative AI investments are paying off

Posted at 12:30h in Asia

Baidu’s artificial intelligence (AI) chatbot Ernie Bot has attracted over 200 million users, according to company co-founder and chief executive Robin Li Yanhong, as the race to commercialise AI heats up in China.Ernie Bot reached the milestone just 13 months after its launch, with enterprise...

16 Apr VW workers to vote on joining UAW union in Tennessee

Posted at 12:02h in Europe

A Volkswagen automobile assembly plant is seen on March 20, 2024 in Chattanooga, Tennessee.Elijah Nouvelage | Getty ImagesDETROIT — Volkswagen workers in Chattanooga, Tennessee, will vote this week on whether to organize with the United Auto Workers in a key test of the union's sway.A...

16 Apr Alibaba strengthens commitment to open-source development of AI models amid debate over this strategy

Posted at 11:30h in Asia

The e-commerce giant could have been “more aggressive in open-source [development]” over the past year based on the gains made by Tongyi Qianwen, according to Alibaba’s Lin Junyang, who is in charge of the model’s open-source buildout, in a WeChat post published on Monday. Alibaba...

16 Apr Fitch cuts outlook for China’s state-owned banks from stable to negative citing Beijing’s limited capacity to support them

Posted at 11:00h in Asia

Regarding the adjustment for the banks’ outlook, Fitch said on Tuesday that the current size of China’s banking system is an important factor limiting the amount of support the central government could give to its biggest lenders.“The Chinese banking system has grown rapidly since 2008,...

16 Apr Hong Kong’s bitcoin, ether ETFs seen as attractive to Asian buyers, but ‘child’s play’ compared with scale of US market

Posted at 10:30h in Asia

“We can expect a healthy level of interest, especially with other Asian jurisdictions staying away from domestic spot bitcoin ETF issuance for now,” said Angela Ang, senior policy adviser at blockchain analytics firm TRM Labs.Spot bitcoin ETFs in the US, which were approved in January,...

16 Apr Fire breaks out at Denmark’s historic Stock Exchange building

Posted at 09:42h in Europe

The tower of the historic Boersen stock exchange collapses as the building is on fire in central Copenhagen, Denmark on April 16, 2024.Ida Marie Odgaard | Afp | Getty ImagesA fire broke out on Tuesday at Denmark's 400-year-old historic stock exchange building, engulfing its iconic...

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