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 […]
New Zealand said on Tuesday it would introduce legislation for a digital services tax on large multinational companies from 2025 after talks for a global rollout did not reach consensus at the Organization for Economic Cooperation and Development (OECD). More than 140 countries were supposed to start implementing next year a 2021 deal overhauling decades-old […]
Artificial intelligence leader OpenAI said on Monday it is releasing a version of ChatGPT targeted to large businesses, increasing the overlap in what OpenAI and its financial backer Microsoft offer to customers. ChatGPT Enterprise offers more security, privacy and higher-speed access to OpenAI’s technology, the company said. Early customers include Block, Carlyle and Estee Lauder Companies. […]
China will extend preferential tax policies for foreign nationals working in the country through to the end of 2027, the finance ministry said on Tuesday, in a boon to foreign firms struggling to attract talent post-COVID. The government proposed scrapping the provision of non-taxable allowances for foreign workers in 2022, but decided to extend the […]
Wall Street ended higher on Monday, with gains in 3M and Goldman Sachs ahead of key inflation and jobs data this week that will offer more clues on the Federal Reserve’s interest rate path. All three major stock indexes rose as investors digested last Friday’s comments from Fed Chair Jerome Powell that the U.S. central […]
