HIROSHIMA, JAPAN – MAY 17: People walk beneath a banner promoting the Group of 7 (G7) summit at a shopping street on May 17, 2023 in Hiroshima, Japan. The G7 summit will be held in Hiroshima from 19-22 May. (Photo by Tomohiro Ohsumi/Getty Images) Tomohiro Ohsumi | Getty Images News […]
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British telecom giant BT to cut up to 55,000 jobs by 2030
The BT Group logo is displayed on a smartphone. Sopa Images | Lightrocket | Getty Images LONDON — U.K. telecommunications giant BT Group said Thursday it will cut between 40,000 to 55,000 of its workforce between 2028 and 2030. The layoffs, which will include both direct BT employees and third-party […]
Ripple CEO says more crypto firms may leave U.S. due to ‘confusing’ rules
“Confusing” regulations in the U.S. will push more crypto companies to leave the U.S. as firms like Ripple look to hire and invest outside the country, the CEO of blockchain services company Ripple told CNBC in an exclusive interview. “Europe really has provided leadership and countries like UAE … the […]
‘It’s a no-brainer’: U.S. beats UK investment scene, says British MP, calling for radical overhaul
Rachel Reeves, Britain’s shadow Finance Minister, has said that the current U.K. business landscape pales in comparison to that of the U.S. Chartered Management Institute Britain’s shadow finance minister on Tuesday lambasted the country’s business environment under the current Conservative government, saying that companies currently deciding whether to invest in […]
How the U.S. and South Africa ended up in a dispute over Russian gunrunning allegations
WASHINGTON, D.C – Sep. 16, 2022: U.S. President Joe Biden meets with South African President Cyril Ramaphosa (L) in the Oval Office of the White House. SAUL LOEB/AFP via Getty Images Relations between the U.S. and South Africa frayed last week, when U.S. Ambassador Reuben Brigety openly accused Pretoria of […]
Bank of England governor says the UK is facing a wage-price spiral
A sign displays the price in pound sterling of food goods, including cucumbers, at a a fruit and vegetable market in stall east London on March 31, 2023. Susannah Ireland | Afp | Getty Images LONDON — After more than a year of warnings, Bank of England Governor Andrew Bailey […]
China walks a tightrope, searching for a Ukraine peace deal that doesn’t hurt its ally Russia
Russian President Vladimir Putin and Chinese President Xi Jinping at a signing ceremony after their talks at the Kremlin in Moscow on March 21, 2023. Vladimir Astapkovich | AFP | Getty Images China faces a “daunting” challenge when it comes to attempting to broker a peace deal between Ukraine and […]
Walmart will report earnings before the bell. Here’s what to watch
A Walmart in Atlanta, Georgia, on Sunday, Feb. 19, 2023. Dustin Chambers | Bloomberg | Getty Images Walmart will report fiscal first-quarter earnings before the bell on Thursday, after Home Depot and Target said shoppers have pulled back on big-ticket items and discretionary purchases. Here’s what Wall Street expects for […]
Goldman Sachs says A.I. could push S&P 500 profits up by 30% in the next decade
Over the next 10 years, AI could increase productivity by 1.5 percent per year. And that could increase S&P500 profits by 30 percent or more over the next decade, Goldman Sachs says. Nurphoto | Nurphoto | Getty Images Goldman Sachs is bullish about artificial intelligence and believes the technology could […]
Deutsche Bank agrees to pay $75 million to Jeffrey Epstein victims to settle lawsuit
Jonathan Raa | Nurphoto | Getty Images Deutsche Bank agreed to pay $75 million to victims of sex predator Jeffrey Epstein to settle a federal lawsuit accusing the bank of enabling and benefitting from its customer’s sex trafficking of young women, sources told CNBC on Wednesday night. The bombshell deal […]