Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic.. "Amazon has weathered uncertain and difficult economies in the past, and we will continue to do so," Jassy said.
The annual CES consumer electronics extravaganza throws open its doors in Las Vegas on Thursday as the industry looks to the latest innovations to help cure the pain from an ailing global economy.. Technology, thanks to increased productivity, "is a deflationary force in the global economy," underlined Gary Shapiro, president and CEO of CTA. - Homes and cars - Spreading out from the Las Vegas convention center to ballrooms in an array of hotels on the famous Sin City strip, CES will have televisions, electric roller skates, self-piloting baby strollers and more aimed at wowing showgoers.
The top-selling tuna at Tokyo's traditional New Year auction sold for more than $270,000 on Thursday, nearly double last year's price, breaking a pandemic trend of slumping demand.. Last year's top-selling tuna, bought by the same pair of bidders, went for just 16.88 million yen, with observers blaming subdued demand as a Covid wave ripped through Japan in early 2022.
US central bankers do not expect it will be "appropriate" to start cutting interest rates this year with inflation remaining high, according to minutes of the latest Federal Reserve policy meeting released Wednesday.. "No participants anticipated that it would be appropriate to begin reducing the federal funds rate target in 2023," the meeting minutes added.
Global automaker Stellantis will produce electric "air taxis" developed by US aviation company Archer, it announced Wednesday at the major Consumer Electronics Show (CES) in Las Vegas.. This time, Stellantis is expected to mass produce Archer's aircraft as the exclusive contract manufacturer in Covington, Georgia, in the eastern United States.
General Motors overtook Japanese carmaker Toyota in US automobile sales last year, according to company figures released Wednesday, reclaiming the top spot on strong demand after earlier supply difficulties.. Nearly half of GM's sales last year were of full-size pickup trucks and big SUVs, as the company turned to higher margin vehicles while supply problems spilled over into 2022.
The European Union is on a mission to get US tech giants to stop avoiding tax, stifling competition, profiting from news content without paying and serving as platforms for disinformation and hate.. - Stifling competition - The digital giants are regularly criticised for dominating markets by elbowing out rivals.
US social media giant Meta was slapped Wednesday with fines totalling 390 million euros ($413 million) for breaching EU personal data laws on Facebook and Instagram, Ireland's data regulator said.. The watchdog reached "final decisions" to fine Meta Ireland 210 million euros in relation to Facebook and 180 million euros in relation to Instagram, for violating Europe's landmark General Data Protection Regulation (GDPR).
US manufacturing activity contracted for a second month in December, remaining at the lowest levels since May 2020 as new orders and production slipped, survey data showed Wednesday.. The new orders index remains weak, data showed, and the production index fell into contraction.
Tunisia faces a year of low economic growth and runaway inflation, and urgently needs a bailout deal with the International Monetary Fund, its central bank chief said Wednesday.. Economists have noted that the main sources of inflation in Tunisia are external, particularly spiralling international commodity prices.
