IMF cuts global growth forecasts for 2019 and 2020
The International Monetary Fund (IMF) lowered its global growth forecasts for 2019 and 2020 amid heightened trade and technology tensions.
According to its 'World...
Microsoft announces $1bn investment in OpenAI
Microsoft has announced a $1 billion investment in the artificial intelligence (AI) startup OpenAI.
Microsoft said in a news release that the two companies will...
No-deal Brexit could cost the UK economy £30 billion, OBR says
A no-deal Brexit could cost the UK economy £30 billion, according to a report by the Office for Budget Responsibility (OBR).
In its most recent...
Netflix added fewer subscribers than it projected in Q2, shares dropped 10%
Netflix added far fewer new subscribers than it projected it would add in the second quarter of 2019.
The streaming giant only added 2.7 million...
Spending habits infer psychological traits
A person's spending habits can infer certain psychological traits, according to new research published in Psychological Science.
Researchers looked at more than 2 million spending...
China’s economy grows at slowest pace in 27 years
The Chinese economy expanded at its slowest pace in 27 years in the second quarter of 2019.
According to data released by the Chinese government,...
Huawei reportedly planning on axing hundreds of jobs at its US operations
Chinese tech giant Huawei is reportedly planning on axing hundreds of jobs at its US operations.
People familiar with the matter told the WSJ that...
Facebook facing $5bn fine by regulators
Facebook will probably have to pay a $5bn fine to settle a probe into data privacy violations. The FTC has approved the amount. FTC...
Thomas Cook Group in £750m rescue deal talks with Fosun and banks
Thomas Cook Group plc announced that it is in discussions with Fosun Tourism Group, its largest shareholder, and core lenders regarding a significant new...
Industrial production grew 0.9% in euro area in May
Industrial production increased by 0.9% in the euro area in May 2019 compared to the previous month, according to an estimate from Eurostat. Eurostat...