economy

China’s telecom sector registers stable growth in Jan-Oct

Visitors try out 5G-enabled games during an expo in Guangzhou, Guangdong province. [Photo by Li Zhihao/for China Daily] BEIJING – China”s telecommunications industry maintained steady expansion in revenue in the first 10 months of 2022, with emerging businesses such as cloud computing posting rapid growth, official data showed. The combined operating revenue of the sector …

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US bans Chinese telecom devices, citing ‘national security’ | Telecommunications News

US Federal Communications Commission decision includes devices from Huawei, ZTE and other manufacturers. The United States Federal Communications Commission (FCC) has announced it is banning telecommunications and video surveillance equipment from prominent Chinese brands, including Huawei and ZTE, citing an “unacceptable risk to national security”. The five-member FCC said on Friday it had voted unanimously …

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Inflation hovers over shoppers seeking deals on Black Friday

NEW YORK (AP) — Shoppers hunted for the best deals at stores and online as retailers offered new Black Friday discounts to entice consumers eager to start buying holiday gifts but weighed down by inflation. Due to elevated prices for food, rent, gasoline and other essentials, many people were reluctant to spend unless there was …

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Inflation is coming down. Here’s what that means for annual pay raises

Fizkes | Istock | Getty Images Inflation and annual pay are not in a one-to-one relationship. That became clear to many workers last year when their annual merit increases in salary and wages were not anywhere near the four-decade highs for inflation. Many employees griped, even if pay was increased by more than what had …

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Recession will be an inch deep but a mile wide, says UBS strategist

Global economic conditions will shift next year and that’s going to flip which markets and sectors underperform, according to the chief strategist of UBS Investment Bank. Bhanu Baweja told CNBC’s “Squawk Box Europe” on Wednesday that between one-third and half of the countries the bank covers globally are facing a recession. “It’s an inch deep …

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How To Navigate Credit And Financial Risk In An Unstable Economy

Burning US five and one dollar bills, London, 8th August 2011. (Photo by Tom Stoddart/Getty Images) Getty Images I recently interviewed Sundeep Yerapotina, Chief Risk Officer (CROCRO ) for Rewards Branded Cards at Citi, who is an expert in the field of personal finance and credit risk management on how people can navigate credit and …

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Wefox CEO ‘disgusted’ by mass tech layoffs: ‘These are humans’

Wefox CEO Julian Teicke. Wefox HELSINKI, Finland — The boss of European digital insurance startup Wefox offered a damning response to tech companies that have laid off workers en masse. The likes of Meta, Amazon and Twitter have laid off tens of thousands of employees in response to pressure from investors, who want to see …

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Global economy slows, but seems set to avoid recession

Business surveys released Wednesday pointed to declines in output across Europe’s largest economies in November, cementing expectations that high energy prices are likely to push them into contraction during the final quarter of this year and the first quarter of next. Some economists think it is possible the US economy will also suffer two straight …

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