People walk past a PCCW sign in Hong Kong.Mike Clarke | AFP | Getty Images Regulators in the U.S. have moved to block one of Hong Kong’s largest telecommunications companies from accessing domestic networks, citing national security concerns.The U.S. Federal Communications Commission announced on Wednesday that it had initiated proceedings to potentially bar HKT Trust and HKT Ltd and its subsidiaries from interconnecting with American networks, escalating concerns over its ties to China. The government agency asked HKT, which is a subsidiary of information and communication technology giant PCCW, to justify why its authorizations should not be revoked. HKT’s current hold…
Author: usaeverydaylife
Jars of Nescafe Instant coffee, part of food giant Nestle’s portfolio, sit on a supermarket shelf in Encinitas, California, U.S., September 2, 2025. Mike Blake | ReutersNestle said Thursday it will cut 16,000 jobs as the firm’s new CEO Philipp Navratil looks to accelerate a turnaround at the consumer goods giant.In a bid to improve operational efficiency, the firm said it will cut 12,000 white-collar jobs and a further 4,000 roles will be reduced over the next two years.Shares opened 6.4% higher on Thursday.Under its former CEO Laurent Freixe, Nestle had already announced a cost-savings programme worth 2.5 billion Swiss…
File: Meta President Global Affairs Nick Clegg speaks during a press conference at the Meta showroom in Brussels on December 07, 2022.Kenzo Tribouillard | Afp | Getty ImagesThe chance of a market correction in the artificial intelligence sector is “pretty high,” former Meta executive and British politician Nick Clegg warned on Wednesday, as he pushed back on the concept of artificial superintelligence. Clegg, the former deputy prime minister of the U.K. who went on to guide policy decisions at U.S. tech giant Meta, said the AI boom has resulted in “unbelievable, crazy valuations.” “There’s just absolute spasm of almost daily, hourly,…
U.S. Treasury Secretary Scott Bessent adjusts his glasses during a meeting with U.S. President Donald Trump and President of Argentina Javier Milei in the Cabinet Room at the White House on Oct. 14, 2025 in Washington, DC.Kevin Dietsch | Getty Images China has been using its dominance in the rare earth industry to slash prices, driving foreign competitors out, U.S. Treasury Secretary Scott Bessent told CNBC on Wednesday stateside in an exclusive interview. He characterized the country as having “a nonmarket economy.”In response, the Trump administration will “exercise industrial policy” to set price floors in a range of industries. Price…
European stocks are expected to open in negative territory on Thursday as regional markets continue to see-saw this week. Source link
Millennium Wheel And Skyline At Sunset. London, England. Design Pics Editorial | Universal Images Group | Getty ImagesThe British economy expanded by a lackluster 0.1% in August, according to the latest figures from the Office for National Statistics.Economists polled by Reuters had expected month-on-month growth of 0.1%. The ONS revised its growth data for July, which initially showed the economy flatlining, saying it now assessed that the economy had shrunk by 0.1%. That followed a 0.4% expansion in June.The economy grew by a better-than-expected 0.3% in the second quarter, down from 0.7% seen in the first quarter, which was boosted by the front loading…
The TSMC logo is displayed on a building in Hsinchu, Taiwan April 15, 2025. Ann Wang | ReutersTaiwan Semiconductor Manufacturing Company on Thursday reported a 39.1% increase in third-quarter profit from last year, beating estimates and hitting a fresh record as demand for artificial intelligence chips stayed strong.Here are the company’s results versus LSEG SmartEstimates:Revenue: NT$989.92 billion new Taiwan dollars, vs. NT$977.46 billion expectedNet income: NT$452.3 billion, vs. NT$417.69 billion TSMC’s revenue in the September quarter rose 30.3% from a year ago to NT$989.92 billion, also beating estimates.Quarter over quarter, net income increased 13.6%, marking its second consecutive quarter of profit…
Once viewed with fear and skepticism, airport biometric screenings are now preferred and even expected by global travelers, according to a report by the air transport technology company Sita.”The more passengers use it, the more they like it,” the report stated.Globally, the number of people who haven’t used biometric technology at airports dropped to 31% this year from 41% in 2024, the report said.Comfort levels are rising as consumers use biometric identification to access everything, from their mobile phones to their workplaces, said Sarah Samuel, senior vice president of airport and airline operations in Asia-Pacific at the travel technology company…
Shoppers in Walnut Creek, California, US, on Tuesday, Oct. 7, 2025. David Paul Morris | Bloomberg | Getty ImagesPresident Donald Trump’s tariffs are pushing inflation generally higher as companies are caught between absorbing the costs or passing them onto customers, according to a Federal Reserve report Wednesday.The central bank’s periodic Beige Book report, published eight times a year generally at about six-week intervals, categorized overall economic growth as having “changed little” since the last report on Sept. 3. Labor markets “were largely stable” as demand was “muted” for most of the Fed’s 12 districts.When it came to prices, though, Trump’s…
Liquid cooled servers in an installation at the Global Switch Docklands data centre campus in London, UK, on Monday, June 16, 2025.Bloomberg | Bloomberg | Getty ImagesEurope’s ambitious artificial intelligence strategy is at risk of colliding with an often overlooked but critically important environmental issue: water scarcity.The European Union has big plans for data center expansion, announcing in April that it intends to at least triple its capacity over the next five to seven years as part of a push to become a world-class AI hub.The rapid rollout of data centers, which power all aspects of the digital economy, from…
