Written by 10:33 am Latest news

### China Cuts Institutional Reserves to Boost Growth Amid Investor Pessimism

Also in today’s newsletter, Russia blames Ukraine for deadly military plane crash and US urges Chin…

The White House Office of Science and Technology Policy’s representative, Arati Prabhakar, disclosed to the Financial Times that the United States and China might collaborate in the coming weeks to mitigate the risks linked with the rapidly advancing technology.

In her statement to the Financial Times, Prabhakar emphasized, “Everyone now acknowledges that AI represents the most powerful systems. Each nation is preparing to leverage it to shape a future that aligns with its principles.”

She further added, “I am of the opinion that the common ground we can all find is the aspiration for a technology hub that prioritizes security and efficiency.”

These comments highlight a rare instance of cooperation amidst the business tensions between the two global powers. The entire article is available for review.

Upcoming Highlights:

  • Future Employment Trends: The Financial Times has initiated a series exploring the anticipated job demands over the next decade and how businesses are gearing up for them as AI advancements pose challenges to employment worldwide.
  • Next week, the Financial Times will host a live online and offline dialogue on fostering AI partnerships with startups, non-profits, academic institutions, and think tanks. Register now.

Other current areas of focus include:

  • Economic Insights: The US government is set to release the initial reading of the fourth-quarter gross domestic product. Additionally, Treasury Secretary Janet Yellen will deliver a speech at the Chicago Economic Club.
  • Corporate Updates: Blackstone is among the latest financial service providers to unveil quarterly outcomes. Alongside Comcast, Northrop Grumman, and Intel, several airline companies like American Airlines and Southwest Airlines will also present their reports.
  • The European Central Bank is expected to maintain interest rates in its imminent decision. Premium subscribers can subscribe to our Central Banks newsletter by Chris Giles for detailed insights on the rate-setters’ battle against inflation. Alternatively, you can upgrade your membership now.

Five More Noteworthy Stories:

  1. Following Tesla’s warning of a potentially significant slowdown in sales growth in 2024, Tesla’s stocks are under pressure in pre-market trading. CEO Elon Musk plans to introduce a new, more affordable vehicle in the second quarter of 2025. This development reflects the decelerating global demand for electric vehicles amid escalating competition post years of rapid expansion.

  2. Boeing’s stocks are trading lower following the Federal Aviation Administration’s restriction on increasing production of the popular 737 Max aircraft. The FAA’s Michael Whitaker emphasized that Boeing cannot resume business as usual. Previously, Boeing aimed to ramp up 737 Max production to 38 per month by the end of 2023 and potentially to 50 by 2025 or 2026.

  3. Former President Donald Trump has cautioned donors against supporting Nikki Haley’s initiatives, labeling her as “Birdbrain” on his Truth Social platform. Trump declared that supporters of Haley will be permanently banned from the “MAGA camp.” Haley’s response is awaited.

  4. According to FT’s investigation, a Signa Group entity transferred over €300 million to entities linked to its Hungarian founder René Benko before the real estate giant’s collapse. Signa’s downfall, including stakes in properties like Selfridges and Chrysler buildings, signals the strain on Western commercial real estate due to rising interest rates.

  5. Amid Brussels’ efforts to align the agriculture sector with green policies, far-right-backed international farmers have staged protests, including spreading manure outside government offices. Ursula von der Leyen, the European Commission’s president, has engaged with various stakeholders as these protests gain momentum ahead of June elections.

For the full versions of these stories and more, please refer to the Financial Times platform.

Entertainment and Lifestyle:

According to blogger Samantha Cole, there are reports of a manipulated image of Gal Gadot circulating online. Samantha Cole, known for her work on deepfakes, explores the implications of such technologies. Tim Harford delves into the evolving landscape of audio and video technologies in a pivotal year for global affairs.

Bank of America has reportedly issued “letters of education” to employees who have been absent from work, warning them of potential disciplinary measures. This move reflects the company’s efforts to address absenteeism. Share your views on the bank’s enforcement actions and the return-to-office directives in our recent survey.

Lifestyle Feature:

FT drinks expert Alice Lascelles suggests that a distinctive chef’s snack menu is essential for success in the hospitality industry today. Discover new culinary experiences at martini bars with innovative offerings like Tokyo Confidential, featuring high-low bar snacks curated by Michelin-starred chef Millie Tang within a vibrant “rowdy house party” ambiance.

Stay tuned for more contributions from Benjamin Wilhelm and Tee Zhuo.

Visited 2 times, 1 visit(s) today
Last modified: January 25, 2024
Close Search Window
Close