Inflation – pressnews

From AI and inflation to Elon Musk and Taylor Swift, the business stories that dominated 2023

20Dec

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Technology

From AI and inflation to Elon Musk and Taylor Swift, the business stories that dominated 2023

[ad_1] The tide turned against inflation.Artificial intelligence went mainstream — for good or ill. Labor unions capitalized on their growing might to win more generous pay and benefits. Elon Musk renamed and rebranded the social media platform Twitter, removed guardrails against phony or obscene posts and ranted profanely when advertisers fled in droves.The American housing market, straining under the weight of heavy mortgage rates, took a wallop.And Taylor Swift's concert tour scaled such stratospheric heights that she invigorated some regional economies and drew a mention in Federal Reserve proceedings.A look back at 10 top business stories in 2023:RAGING AGAINST INFLATIONThe Fed and most other major central banks spent most of the year deploying their interest-rate weapons against t...

23May

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Technology

China Is Jumping at Digital Shadows

[ad_1] “Survival is an infinite capacity for suspicion,” goes the line from John Le Carre's classic Cold War-era novel Tinker, Tailor, Soldier, Spy. And right now, in the technology realm, China is fighting hard just to stay in the game.Three brief paragraphs posted by the Cyberspace Administration of China to its website on Sunday night outlined the latest round of digital paranoia between Beijing and Washington, with Boise-based Micron Technology Inc. the most-recent victim. “Micron products have relatively serious potential network security issues,” the CAC said without elaborating. “Operators of national critical information infrastructure should stop purchasing Micron products.” We ought not to make too much of Beijing's decision to keep details of its security review under wraps; ...

Bitcoin surges above $21000 amid optimism around inflation, FTX

14Jan

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Technology

Bitcoin surges above $21000 amid optimism around inflation, FTX

[ad_1] Bitcoin rose as much as 7.5% to $21,299. It hadn’t been above $20,000 since Nov. 8, and Saturday marked its 11th straight day advancing. Bitcoin surged over $21,000 on Saturday amid optimism that it may have bottomed and inflation may have peaked. The largest cryptocurrency rose as much as 7.5% to $21,299. It hadn't been above $20,000 since Nov. 8, and Saturday marked its 11th straight day advancing. Second-largest Ether surged as much as 9.7%, and other tokens like Cardano and Dogecoin also notched solid gains. The overall market cap of the crypto universe rose above $1 trillion for the first time since early November, according to data from CoinGecko. The gains came amid a report on consumer prices last week that showed inflation declining in January from December levels. ...

Tesla Delivers Record 405,278 Cars in Quarter But Misses Target

3Jan

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Technology

Tesla Delivers Record 405,278 Cars in Quarter But Misses Target

[ad_1] Tesla Inc. delivered 405,278 cars worldwide in the fourth quarter, eking out a record despite rising interest rates, inflation and crimped production in China. Tesla Inc. delivered 405,278 cars worldwide in the fourth quarter, eking out a record despite rising interest rates, inflation and crimped production in China. The results, posted Monday, missed expectations. In an effort to clear inventory, Tesla dangled discounts of $7,500 to consumers in the US who took delivery in the last days of December. Analysts had expected the company would ship 420,760 vehicles — the average of estimates compiled by Bloomberg. Tesla delivered more than 1.31 million cars for the year, falling short of the 50% year-over-year growth that the company has aimed for. In 2022, vehicle deliveries gr...

Microsoft CEO Satya Nadella Is Confident About Activision Deal

23Sep

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Technology

Microsoft CEO Satya Nadella Is Confident About Activision Deal

[ad_1] Microsoft CEO Satya Nadella says the company will be more ‘deliberate’ in hiring as it weathers downturn. Microsoft Corp. Chief Executive Officer Satya Nadella said he's confident the company can gain regulatory approval for its $69 billion purchase of Activision Blizzard Inc. even in the face of an in-depth regulatory probe in the UK. “Of course, any acquisition of this size will go through scrutiny, but we feel very, very confident that we'll come out,” he said in an interview with Bloomberg Television. Nadella's prediction puts him at odds with investors' skepticism about the deal. While Activision rose Thursday, outperforming a slump in tech stocks, Wednesday's close of $75.32 still left the company more than ...

Opinion: Monetary Policy Alone Inadequate To Tame Inflation

10Sep

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Latest

Opinion: Monetary Policy Alone Inadequate To Tame Inflation

[ad_1] At a time when Consumer Price Index (CPI) inflation has remained above RBI's upper tolerance level of 6% for seven consecutive months and the WPI inflation rates are at the highest levels since January 2007, it is good that the issue was finally discussed in parliament and the RBI's recent rate hike signals recognition of the concern. However, during the debate in the parliament, the Treasury bench largely took a view that there is no inflation in the country. If we are asking the top 1% of the country who possess 73% of all wealth, then of course it is not going to affect them. Inflation disproportionately affects the poor, middle class and rural areas.The demand in rural economy was undergoing stress even before the pandemic due to lockdowns and disruptions at the global level. ...