UK to suffer slowest growth of all rich nations next year, OECD says
The U.K.’s “sluggish” growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to the OECD.
The downbeat prediction comes as the global economy shows signs of recovery, with growth forecast to remain steady at 3.1% in 2024, before rising modestly to 3.2% in 2025.
Alvaro Pereira, director of the OECD’s policy studies branch, told CNBC the forecasts indicated that c... moreUK to suffer slowest growth of all rich nations next year, OECD says
The U.K.’s “sluggish” growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to the OECD.
The downbeat prediction comes as the global economy shows signs of recovery, with growth forecast to remain steady at 3.1% in 2024, before rising modestly to 3.2% in 2025.
Alvaro Pereira, director of the OECD’s policy studies branch, told CNBC the forecasts indicated that central banks’ efforts to quell inflation were working.
World’s first major act to regulate AI passed by European lawmakers
The European Union’s parliament on Wednesday approved the world’s first major set of regulatory ground rules to govern the mediatized artificial intelligence at the forefront of tech investment.
The US economy expanded 4.9% in the third quarter, slightly weaker than previously estimated
US economic growth was slightly lower in the third quarter than previously reported, but still robust, underscoring the sheer strength of America’s economy during the summer.
Gross domestic product, the broadest measure of economic output, expanded at an annualized 4.9% rate from July through September, the Commerce Department reported Thursday. That’s a slower pace of growth than the 5.2% reported in ... moreThe US economy expanded 4.9% in the third quarter, slightly weaker than previously estimated
US economic growth was slightly lower in the third quarter than previously reported, but still robust, underscoring the sheer strength of America’s economy during the summer.
Gross domestic product, the broadest measure of economic output, expanded at an annualized 4.9% rate from July through September, the Commerce Department reported Thursday. That’s a slower pace of growth than the 5.2% reported in the second estimate.
Silicon Valley Boardroom Coup Leads to Ouster of an AI Champion
OpenAI, the pioneer of widely used tools that generate specialized digital content from simple prompts, ousted its co-founder and Chief Executive Officer Sam Altman and lost another senior executive after a series of escalating disagreements over fundamental questions at the heart of artificial intelligence: How to keep the technology safe while also making money from it.
OpenAI, the pioneer of widely used tools that generate specialized digital content from simple prompts, ousted its co-founder and Chief Executive Officer Sam Altman and lost another senior executive after a series of escalating disagreements over fundamental questions at the heart of artificial intelligence: How to keep the technology safe while also making money from it.
Amazon launches first internet satellite prototypes
Amazon’s first pair of prototypes for its Project Kuiper satellite internet system launched on Friday.
“We’ve done extensive testing here in our lab and have a high degree of confidence in our satellite design, but there’s no substitute for on-orbit testing,” a Project Kuiper executive said.
Project Kuiper is Amazon’s plan to build a network of 3,236 satellites in low Earth orbit, to provide high-speed internet access anywhere in the world.
... moreAmazon launches first internet satellite prototypes
Amazon’s first pair of prototypes for its Project Kuiper satellite internet system launched on Friday.
“We’ve done extensive testing here in our lab and have a high degree of confidence in our satellite design, but there’s no substitute for on-orbit testing,” a Project Kuiper executive said.
Project Kuiper is Amazon’s plan to build a network of 3,236 satellites in low Earth orbit, to provide high-speed internet access anywhere in the world.
Fears over access to credit hit highest level in more than a decade, New York Fed survey shows
Respondents indicating that the ability to get credit is harder now than it was a year ago rose to nearly 60%, the New York Fed’s Survey of Consumer Expectations for August showed.
The survey showed that the mean expectation of losing one’s job in the next year rose by 2 percentage points to 13.8%, the highest since April 2021.
Respondents indicating that the ability to get credit is harder now than it was a year ago rose to nearly 60%, the New York Fed’s Survey of Consumer Expectations for August showed.
The survey showed that the mean expectation of losing one’s job in the next year rose by 2 percentage points to 13.8%, the highest since April 2021.
