jobloss
In the age of artificial intelligence (AI), change is inevitable. From people's personal to professional lives, AI is continually finding ways to integrate itself into routines, sometimes creating disruptions and at other times offering significant improvements. The rise of generative AI, especially following the launch of ChatGPT in November 2022, has sparked numerous discussions about its potential impact. Among the most pressing concerns is the anticipated jobs displacement due to AI's adoption in the labour market. Almost 40% of jobs around the world will be impacted by AI, IMF chief says"...
Euronews (English)
The French company Alstom, owner of Britain's largest train factory, intends to raise €1.75 billion to alleviate its debt burden. This effort includes the sale of shares and bonds, along with €700 million from planned sales, and is aimed at safeguarding the credit rating of the Litchurch Lane plant owner in Derby. "Alstom is now set on stronger foundations to deliver sustainable profit and cash generation," Alstom Chief Executive Officer Henri Poupart-Lafarge said in a statement. Alstom recorded €11.3 billion in orders in Europe during the fiscal year 2023/24, down from €12.8 billion the previ...
Euronews (English)
Apple is laying off more than 600 workers in California, marking the company's first big wave of post-pandemic job cuts amid a broader wave of tech industry consolidation. The iPhone maker notified 614 workers in multiple offices on March 28 that they were losing their jobs, with the layoffs becoming effective on May 27, according to reports to regional authorities. The workers were cut from eight offices in Santa Clara, according to the filings under the state's Worker Adjustment and Retraining Notification Act, also known as WARN. But it's not clear which departments or projects the employee...
Euronews (English)
Congress last approved coronavirus stimulus checks in March of this year. These payments proved to be a life line for millions of Americans who were struggling to pay for their basic needs. Now, the impact of those payments appears to be fading after four months, but many are still struggling financially. This is why many are still pushing for another round of coronavirus stimulus checks to be approved before August. Q2 2021 hedge fund letters, conferences and more Is there need for more stimulus payments?After the IRS started sending the third stimulus checks of up to $1,400, there were repor...
ValueWalk
Senator Bernie Sanders has aggressively made the case for a $15 minimum wage. This morning’s new Congressional Budget Office report shows that, contrary to Sanders’ rhetoric, a $15 minimum wage will have a devastating impact on the country’s employers and employees. Q4 2020 hedge fund letters, conferences and more Specifically, the higher minimum wage would eliminate 1.4 million jobs. In fact, the policy would leave 500,000 more people jobless than it would pull out of poverty. Below are some key takeaways from the CBO's new report, which updates its 2019 analysis for new economic projections ...
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