– India’s steel-to-energy JSW Group is in early talks with Chinese automaker Leapmotor to license technology to build electric vehicles in India, according to people familiar with the discussions. Under the technology licensing agreement, JSW would use Leapmotor’s platform – the structural underpinnings of a car on which it is built – to manufacture EVs in […]
Speak, an artificial intelligence (AI)-backed English language learning platform, said on Thursday that it has raised $16 million in fresh funding led by venture capitalist Lachy Groom. The funding round, in which existing investor OpenAI Startup Fund and new investors like Dropbox founders Drew Houston and Arash Ferdowsi also participated, brings the total amount of […]
Even a robot invasion can’t beat a slowing economy. Companies in North America sharply cut orders for the high-tech machines in the second quarter, according to data compiled by the Association for Advancing Automation, an industry group. The slowdown in orders began at the end of last year, as rising interest rates and sagging economic […]
The Biden administration “has not blocked chip sales to the Middle East,” a U.S. Department of Commerce spokesperson said on Thursday, after disclosures that Washington had expanded export license requirements for Nvidia and Advanced Micro Devices artificial-intelligence chips. Nvidia revealed the new rules in a regulatory filing earlier this week. A person familiar with the matter confirmed on Wednesday […]
The U.S. expanded the restriction of exports of sophisticated Nvidia (NVDA.O) and Advanced Micro Devices (AMD.O) artificial-intelligence chips beyond China to other regions including some countries in the Middle East. Nvidia said in a regulatory filing this week that the curbs, which affect its A100 and H100 chips designed to speed up machine-learning tasks, would not have an “immediate […]
UBS embarked on a more than $10 billion cost cutting plan on Thursday, saying it will axe 3,000 jobs in Switzerland alone after swallowing up its stricken rival Credit Suisse. The plan to cut around one in 12 Swiss jobs at the newly forged bank giant gives a glimpse of the scale of the shake-up as […]
At the World Bank, and with partners, we have been tracking the learning losses from COVID-19 for the past three years. At the start of the pandemic in 2020, we predicted learning losses and then in 2021 we reported on actual losses from several countries. But our latest analysis published in the journal Economics Letters shows that the losses are broader […]
SDG 7 aims to ensure access to affordable, reliable, and sustainable energy for all. Globally, about 90 percent of people across the world had access to electricity in 2020—but in some countries the access rate was as low as 19 percent or even lower. As shown in the above chart, progress towards achieving universal access to […]
Does internet help you to stay in touch with family and friends? If you answered yes, you could claim that internet is benefiting your health! Scientific research has demonstrated that social isolation – often correlated with age – is a risk factor for premature death comparable to smoking, obesity, and physical inactivity. According to the […]
A successful green transition will require a major reallocation of resources away from emissions-intensive to emissions-light activities. This column assesses whether climate transition risk is priced in Europe’s equity market by analysing relative equity returns of high versus low CO2-emitting firms over the period 2005 to 2019. The authors employ several econometric models to assess […]
