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Alibaba’s shares jump 15% in Hong Kong Following Major Restructuring

News

China’s e-commerce giant Alibaba Group’s shares rose by 15% in morning trading on the Hong Kong stock exchange, following the announcement of a major business restructuring. The company has divided itself into six business groups, each with its own management, as part of a plan to increase shareholder value and intensify competition in the market. …

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South Korean Consumer Confidence Reaches 9 month High as Inflation Fears Ease

News

The Bank of Korea (BOK) reported on Tuesday that consumer sentiment in South Korea has hit a nine-month high in March, rising from last month’s 90.2 to 92.0, the highest level since June 2022. The increase in consumer sentiment can largely be attributed to the decrease in consumer concerns over inflation. The consumer sentiment index, …

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Australian Inflation Below Expectations, Supports RBA Pause on Interest Rate Hikes

Markets, News

The Australian Bureau of Statistics reported on Tuesday that the country’s Consumer Price Index (CPI) increased less than expected in February. The February CPI rose 6.8% year on year, slower than January’s 7.4% and below the market’s anticipated 7.1% rise. The slowdown in holiday travel contributed to the lower-than-expected rise. On a month-on-month basis, February’s …

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World Today: Today’s Hot Topic-Apple Launches Apple Pay Latter’in the US

Markets, News

Tech giant Apple has launched a new service in the United States called “Apple Pay Later”, allowing users to pay for purchases in four interest-free installments over a period of six weeks. The new service is only available for online or in-app purchases via Apple devices such as iPhones and iPads, and at present, only …

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World News Summary: Retail Sales Slowdown in Australia, BOJ Governor Calls for CBDC, and North Korea’s Kim Jong Un Ready to Use Nuclear Weapons

Markets, News

In today’s news, Federal Reserve Board Governor Philip Jefferson expressed concern over the devastating impact on small businesses that largely rely on small and regional banks for credit approval, as depositors move their deposits from small banks to big banks. Meanwhile, the Australian Bureau of Statistics reported a slowdown in retail sales in February, as …

World News Summary: Retail Sales Slowdown in Australia, BOJ Governor Calls for CBDC, and North Korea’s Kim Jong Un Ready to Use Nuclear Weapons Read More »

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About 300 Million US-European Populations Are Likely to Lose Their Jobs After the Rise of “Generative AI”

News

A new report by Goldman Sachs warns that generative AI technologies such as ChatGPT could replace one in four jobs in the United States and the Eurozone, putting 300 million full-time workers at risk of losing their jobs. The report states that lawyers and executives are among the most vulnerable. According to the authors of …

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