Social media platform LinkedIn cuts 700 jobs, shuts China app
Job cuts are the latest layoffs to hit the tech sector in recent months, following losses at Google, Meta and Amazon.
Category Archives: Economy
China probes Capvision in latest raid on foreign company
Investigation into Capvision comes after recent police raids on Bain & Company and Mintz Group.
Hong Kongers fleeing China’s crackdown denied pension savings
Activist group estimates Hong Kongers in the UK are unable to access $2.8bn in retirement savings.
Australian govt pledges $10bn to ease cost of living pressures
Treasurer Jim Chalmers insists measures will not add to country's already high inflation.
HSBC faces shareholder vote on splitting bank
Chinese shareholder Ping An argues split necessary as bank lags behind international peers.
Indonesia’s economy beats forecasts on consumer, gov’t spending
GDP expands by 5.03 percent in the January-March period despite slowing exports.
UK, New Zealand, Australia tout trade before Charles’s coronation
UK's free trade deals with Australia and New Zealand will enter force on May 31.
White House tells tech CEOs they have ‘moral duty’ on AI
US President Joe Biden tells CEOs their work on AI has 'enormous potential and enormous danger'.
UAE real estate firm Aldar to hold off from Egypt investments
UAE firms hold majority shares of Egypt's SODIC, but Aldar says it won't put any more money in for now.
First Republic rescue fails to calm market turmoil
Regional bank shares suffer double-digit losses despite JPMorgan Chase's acquisition of troubled lender.
IBM to freeze hiring as CEO expects AI to replace 7,800 jobs
CEO Arvind Krishna says 30 percent of non-customer-facing roles could be axed in the next five years.
IMF raises Asia’s economic forecast on China recovery
International lender raises 2023 growth outlook for region to 4.6 percent, up from 4.3 percent in October.
Australia’s Qantas picks first female CEO as Joyce prepares to go
CEO Alan Joyce to depart flagship carrier after 15 years in the job.
Australia set for budget rebound, signals fiscal restraint
Treasurer Jim Chalmers expected to announce cautious budget as central bank fights high inflation.
Dozens of flights cancelled at Manila airport after power outage
About 40 domestic Cebu Pacific flights cancelled in Philippines after second power outage at main gateway this year.
Chinese police question staff of US consulting firm Bain
Incident comes after police last month raided Beijing office of US due diligence firm Mintz Group and detained staff.
South Korea’s Yoon meets Elon Musk in pitch for investment
Yoon touts South Korea as an ideal country for Tesla to build a gigafactory, report says.
ChatGPT is giving therapy. A mental health revolution may be next
The prospect of AI treating mental illness is raising a myriad of ethical and practical concerns.
Indigenous Australians file rights complaint over gas projects
Traditional landowners say pension funds have obligation to prevent 'adverse human rights impacts' from energy projects.
South Korea’s economy barely avoids recession amid rocky outlook
Asia's fourth-largest economy grows 0.3 percent during first quarter amid improvements in exports and consumption.