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Lifestyle

Pocket wallets vs. smartphones: Can we replace cash with digital currencies?

Pocket wallets vs. smartphones: Can we replace cash with digital currencies?
The more than a decade-long history of cryptocurrency has clearly demonstrated that the world is keen on the new form of money. The crypto frenzy has even prompted leading central banks to work on...

Researchers Suggest Previous Studies On Smartphone Addiction May Be Flawed

Researchers Suggest Previous Studies On Smartphone Addiction May Be Flawed
Researchers are now suggesting the there are some serious flaws in a large majority of studies and surveys that have been conducted in recent times which examines the impact on the psychological...

Myth Of Positive Health Impact Of Moderate Drinking Debunked In New Study

Myth Of Positive Health Impact Of Moderate Drinking Debunked In New Study
Earlier studies which had given rise to the notion that one or two drinks a day might protect against stroke have been negated in the results of a major genetic study which has also claimed a very...
Most Popular

Following US And Swiss Bank Rescues, The ECB Watchdog Predicts No Spread To Europe

GameStop Stock Rises As Cost Reductions Result In A Surprise Profit

Write-Off Of Credit Suisse AT1 Bonds Results In $340 Mln Loss For PIMCO

Amazon Adds 9,000 More Job Cuts, Furthering The Gloom In The Global Tech Industry

Days After Issuance, UBS Purchases Bonds To Bolster Investor Confidence

Boeing Finance Chief Says Company Will Take Charges Over A KC-46 Tanker Quality Issue

More Than $1 Billion Lost On A Credit Suisse Investment By Saudi National Bank

Virgin Orbit Fights To Stay Afloat As Negotiations For A Deal Continue

SVB Financial Files For Bankruptcy As The Banking Crisis Continues

Accenture Lowers Expectations And Will Eliminate 19,000 Employees As IT Investment Slows

OpenAI CEO Acknowledges That A Glitch Permitted Certain ChatGPT Users To View The Titles Of Other Conversations

Toshiba Board Approves $15.2 Billion Takeover Offer From Japan Industrial Partners

Latest News

Accenture Lowers Expectations And Will Eliminate 19,000 Employees As IT Investment Slows

Toshiba Board Approves $15.2 Billion Takeover Offer From Japan Industrial Partners

Reader's Pick

Foxconn Is In A Rush To Join The EV Field 06/03/2023

Ford Is Examining Ways To Increase Production Of The Gas-Powered F-150 04/03/2023

Tesla Seeks Asian Partnerships To Tackle Concerns About The 4680 Battery 10/03/2023

IndiGo Ignites Competition Between Boeing And Airbus For Record-Breaking Jet Orders 04/03/2023

Tesla Reduces Prices Of Model S And Model X In The US By 4% To 9% 06/03/2023

Latest Business News
Accenture Lowers Expectations And Will Eliminate 19,000 Employees As IT Investment Slows

Accenture Lowers Expectations And Will Eliminate 19,000 Employees As IT Investment Slows

Companies

Accenture Plc, the latest indication that the deteriorating global economic picture was sapping corporate spending on IT services, decreased its annual revenue and profit estimates and made the decision to eliminate around 2.5% of its staff, or 19,000 jobs.   Accenture announced on Thursday that more than half of the positions to be eliminated will be in non-billable corporate tasks, which...
Toshiba Board Approves $15.2 Billion Takeover Offer From Japan Industrial Partners

Toshiba Board Approves $15.2 Billion Takeover Offer From Japan Industrial Partners

Companies

The business said on Thursday that the board of Toshiba Corp. has accepted a $15.2 billion takeover offer from a group led by private equity firm Japan Industrial Partners, potentially putting an end to years of turmoil at the conglomerate.   After much conflict with foreign activist shareholders, a successful purchase would see the scandal-plagued company taken private and securely in...
OpenAI CEO Acknowledges That A Glitch Permitted Certain ChatGPT Users To View The Titles Of Other Conversations

OpenAI CEO Acknowledges That A Glitch Permitted Certain ChatGPT Users To View The Titles Of Other Conversations

Companies

Sam Altman, the CEO of OpenAI, has revealed a problem that allowed some users of the well-known AI chatbot ChatGPT to see messages from other users.   “We had a significant issue in ChatGPT due to a bug in an open source library, for which a fix has now been released and we have just finished validating,” Altman tweeted.   “A small percentage of users were able to see the titles of...
Days After Issuance, UBS Purchases Bonds To Bolster Investor Confidence

Days After Issuance, UBS Purchases Bonds To Bolster Investor Confidence

Companies

In an effort to reassure bondholders shaken by its $3 billion rescue of rival Credit Suisse, UBS Group announced on Wednesday that it would buy back 2.75 billion euros ($2.96 billion) in debt that it had just days earlier sold.   The bonds were sold on March 9, and UBS's decision to buy them back highlights the lender's efforts to boost confidence following Sunday's government-supported...
Boeing Finance Chief Says Company Will Take Charges Over A KC-46 Tanker Quality Issue

Boeing Finance Chief Says Company Will Take Charges Over A KC-46 Tanker Quality Issue

Companies

According to the company's finance chief, Boeing Co. will incur additional costs for the KC-46 tanker program as a result of a center fuel tank supplier quality issue.   The precise amount of the additional charges, which will be disclosed along with the company's first quarter earnings, was not disclosed by Boeing Chief Financial Officer Brian West, but as a result, margins at Boeing's...
GameStop Stock Rises As Cost Reductions Result In A Surprise Profit

GameStop Stock Rises As Cost Reductions Result In A Surprise Profit

Companies

As lower costs and job cuts padded the videogame retailer's bottom line, GameStop Corp. unexpectedly reported a profit for the fourth quarter, its first since early 2021. This news sent its shares nearly 50% higher in extended trading.   In an effort to strengthen its digital presence and diversify from its current mainstay of brick and mortar stores as competition from larger retailers...
More Than $1 Billion Lost On A Credit Suisse Investment By Saudi National Bank

More Than $1 Billion Lost On A Credit Suisse Investment By Saudi National Bank

Companies

Saudi National Bank is suffering significant losses as a result of UBS's forced acquisition of Credit Suisse for $3.2 billion.   The largest shareholder of Credit Suisse, Saudi National Bank, informed the media on Monday that it had suffered an investment loss of about 80%.   The bank with headquarters in Riyadh currently owns 9.9% of Credit Suisse after investing $1.5 billion (1.4...
Virgin Orbit Fights To Stay Afloat As Negotiations For A Deal Continue

Virgin Orbit Fights To Stay Afloat As Negotiations For A Deal Continue

Companies

According to reports, Virgin Orbit is attempting to find a funding lifeline in order to prevent bankruptcy, which could happen as soon as this week if no agreement is reached.   As CNBC first reported, the rocket manufacturer halted operations last week and laid off the majority of its employees while it looked for new funding or a potential acquisition. Dan Hart, the CEO of Virgin Orbit,...
Write-Off Of Credit Suisse AT1 Bonds Results In $340 Mln Loss For PIMCO

Write-Off Of Credit Suisse AT1 Bonds Results In $340 Mln Loss For PIMCO

Companies

According to a source with knowledge of the matter, bond king PIMCO lost about $340 million on a class of Credit Suisse bonds that were destroyed by the UBS acquisition, with the American investment manager's overall exposure to the Swiss lender amounting to billions.   In a deal that saw shareholders receive $3.23 billion, Swiss authorities on Sunday decided to forgive about $17 billion...
Amazon Adds 9,000 More Job Cuts, Furthering The Gloom In The Global Tech Industry

Amazon Adds 9,000 More Job Cuts, Furthering The Gloom In The Global Tech Industry

Companies

Amazon.com Inc. announced on Monday that it would eliminate an additional 9,000 positions, adding to a wave of job cuts that have hit the technology industry as a result of the uncertain economic climate.   In an astonishing turn of events for a business that has long bragged about creating jobs, Amazon will have cut 27,000 jobs recently, or 9% of its roughly 300,000-person corporate...
SVB Financial Files For Bankruptcy As The Banking Crisis Continues

SVB Financial Files For Bankruptcy As The Banking Crisis Continues

Companies

Days after its former subsidiary Silicon Valley Bank was taken over by American regulators, SVB Financial Group announced on Friday that it had filed for a court-supervised reorganization under Chapter 11 bankruptcy protection to seek buyers for its assets.   The decision to start bankruptcy proceedings was made as a result of the failure of immediate measures to boost confidence to allay...
Following US And Swiss Bank Rescues, The ECB Watchdog Predicts No Spread To Europe

Following US And Swiss Bank Rescues, The ECB Watchdog Predicts No Spread To Europe

Markets

According to a source on Friday, after U.S. lenders gave First Republic Bank a $30 billion lifeline and drew record amounts from the Federal Reserve, supervisors at the European Central Bank do not see any spillover effects from recent sector turmoil for euro zone banks.   The San Francisco-based lender was caught up in market turbulence brought on by the failure of two other mid-size US...

World

IMF's Chief Says Ukraine Is Just "Weeks" Away From Receiving Full Support Program

IMF's Chief Says Ukraine Is Just "Weeks" Away From Receiving Full Support Program
According to Kristalina Georgieva, managing director of the IMF, a comprehensive program of support for Ukraine is still several weeks away from being finalized.   This comes hours after the...

UN Concerned About Not Much Time Being Left With Surge In Greenhouse Gases

UN Concerned About Not Much Time Being Left With Surge In Greenhouse Gases
Greenhouse gas concentrations rose at above-average rates to new highs last year, according to the United Nations weather agency, which warned that time is running out for people to make the...

With Extensive New Export Regulations, US Hopes To Cripple China's Chip Industry

With Extensive New Export Regulations, US Hopes To Cripple China's Chip Industry
The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. equipment,...

Experts Urge WHO And Governments To Take Stronger Action Against Monkeypox

Experts Urge WHO And Governments To Take Stronger Action Against Monkeypox
A huge monkeypox outbreak has expanded to at least 20 nations, prompting some notable infectious disease experts to call for speedier action from global health authorities to contain it.  ...

Many More Cases Of Monkeypox Likely To Emerge Worldwide, Expects WHO

Many More Cases Of Monkeypox Likely To Emerge Worldwide, Expects WHO
The World Health Organization expects to find more instances of monkeypox when surveillance is expanded in places where the disease is uncommon.   According to the United Nations, 92 confirmed...

People

The Way Bankman-Fried Of FTX Obtained A $250 Mln Bail

The Way Bankman-Fried Of FTX Obtained A $250 Mln Bail
On Thursday, FTX founder Sam Bankman-Fried agreed to a bail deal that would see him released on a $250 million bond secured against his parents' property, with movement restrictions.  ...

Majority Of Elon Musk’s Twitter Followers Do Not Want Him As Twitter Chief, Shows A Musk-Conducted Pool

Majority Of Elon Musk’s Twitter Followers Do Not Want Him As Twitter Chief, Shows A Musk-Conducted Pool
Less than two months after taking over as CEO of the social media platform, Elon Musk faced backlash from Twitter users who voted in a poll for him to resign.   According to the poll the...

Elon Musk Looses Position As The World's Richest Individual

Elon Musk Looses Position As The World's Richest Individual
Tesla CEO Elon Musk is no longer the world's richest person. According to Forbes, he handed over that title to LVMH chairman and CEO Bernard Arnault at the end of the day on Monday.   Tesla...

Reasons Why One Should Use A New Login, Passwords Quickly Following Microsoft’s Latest Data On Hacks

Reasons Why One Should Use A New Login, Passwords Quickly Following Microsoft’s Latest Data On Hacks
If your password has recently been compromised, you are not alone.   The number of password attacks has risen to an estimated 921 per second. According to the most recent Microsoft Digital...

Lee Newman, Dean of IE Business School

Lee Newman, Dean of IE Business School
“Education is about growth”