Business
The world's third-largest contract chipmaker GlobalFoundries opened a $4 billion manufacturing plant in Singapore on Tuesday as part of a global expansion to help ease an industry supply crunch.
Sep 12, 2023
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Business
Telecom equipment maker Ericsson said Friday it would slash 8,500 jobs worldwide, part of a cost-cutting program as financial headwinds push operators to rein in spending.
Feb 24, 2023
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Business
The world's second-largest memory chip maker SK Hynix said Wednesday it would reduce investments after reporting its biggest ever operating loss as it was hammered by an industry-wide downturn.
Feb 1, 2023
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Business
Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales.
Jan 31, 2023
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Business
Alibaba founder Jack Ma has been living in Tokyo for almost six months after disappearing from public view following China's crackdown on the tech sector, the Financial Times reported Wednesday, citing multiple unnamed sources.
Nov 30, 2022
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Business
Chinese internet giant Baidu reported on Tuesday third-quarter revenues of 32.5 billion yuan ($4.6 billion), representing a year-on-year increase of 2 percent.
Nov 22, 2022
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Business
The mass layoffs that began in Amazon's corporate ranks this week will extend into next year, CEO Andy Jassy said Thursday.
Nov 18, 2022
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Business
China's biggest online shopping festival, known as Singles' Day, is typically an extravagant affair as Chinese e-commerce firms like Alibaba and JD.com ramp up marketing campaigns and engage top livestreamers to hawk everything ...
Nov 11, 2022
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Business
Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday.
Nov 9, 2022
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Automotive
British luxury carmaker Aston Martin Lagonda on Wednesday revealed its third-quarter net losses more than doubled on supply-chain disruptions, offsetting accelerating sales.
Nov 2, 2022
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In economics, a recession is a general slowdown in economic activity over a sustained period of time, or a business cycle contraction. During recessions, many macroeconomic indicators vary in a similar way. Production as measured by Gross Domestic Product (GDP), employment, investment spending, capacity utilization, household incomes and business profits all fall during recessions.
Governments usually respond to recessions by adopting expansionary macroeconomic policies, such as increasing money supply, increasing government spending and decreasing taxation.
This text uses material from Wikipedia, licensed under CC BY-SA
