By Rozanna Latiff KUALA LUMPUR (Reuters) – China’s ByteDance, the parent of social media platform TikTok, has laid off more than 700 workers from its Malaysian unit as the company shifts focus towards greater use of AI in content moderation, two sources familiar with the matter told Reuters. The employees, most of whom were involved in the firm’s content moderation operations, were informed of their dismissal by email late Wednesday, the sources said, requesting anonymity as they were not authorized to speak to media. In response to Reuters’ queries, TikTok confirmed the layoffs on Friday, but said it was unable…
Author: user
Airports are looking to private wireless networks to improve operations, execs said at MWC Las Vegas.Passengers could see benefits like smoother baggage claim and check-ins, the panelists said.This article is part of “5G and Connectivity Playbook,” a series exploring one of our time’s most important tech innovations. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the…
Pedestrians crossing a road in front of the Bank of Korea headquarters in Seoul on July 13, 2022. South Korean economic growth unexpectedly picked up in the second quarter as strong consumption on eased Covid-19 restrictions offset poor exports, supporting the case for further central bank interest rate hikes.Jung Yeon-je | Afp | Getty ImagesSouth Korea’s central bank has cut its benchmark interest rate by 25 basis points to 3.25%, the first rate cut from the BOK since the Federal Reserve started tightening its monetary policy in March 2022.This was in line with a poll of economists from Reuters, who…
By Yuka Obayashi TOKYO (Reuters) – Oil eased on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. futures fell 39 cents, or 0.5%, to $79.01 a barrel by 0152 GMT. U.S. West Texas Intermediate crude futures dropped 32 cents, or 0.4%, to $75.53 per barrel. For the week, both benchmarks were headed for a 1%-2% gain. In the United States, Hurricane Milton plowed into the Atlantic Ocean on Thursday…
(Bloomberg) — Chinese stocks fell in early trade, underperforming their Asian peers as caution grows ahead of a key weekend briefing that may shed more light on Beijing’s fiscal stimulus.Most Read from BloombergThe CSI 300 Index slid as much as 1.6%, reversing Thursday’s gains. Elsewhere in Asia, shares rose in Japan and South Korea, sidestepping losses on Wall Street following hotter-than-expected core inflation that heightened the focus on the Federal Reserve’s next move. Equities slipped in Australia.All eyes are on a Saturday briefing, where China’s finance minister will likely announce more support measures to revive a slowing economy. Investors and…
(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway (NYSE:) unloaded more Bank of America stock this week that takes its stake in the U.S. banking giant below 10%. Berkshire sold 9.5 million shares worth $382.4 million for this week, according to a regulatory filing on Thursday. The U.S. Securities and Exchange Commission requires shareholders that own more than 10% of a company to disclose stock purchases and sales within two business days. Now investors at Bank of America must likely wait for Berkshire’s quarterly financial reports or quarterly stock holdings disclosures to learn if the Omaha, Nebraska-based company sold more. It…
The United Nations body responsible for formulating guidelines for a global carbon market under Article 6.4 of the Paris Agreement has agreed on standards for project methodologies and carbon removals. This decision has been described as “significant” and unprecedented by industry sources and analysts, marking a major advancement for voluntary carbon markets. The decision, adopted during the most recent meeting in Baku on October 9, allows developers to begin submitting methodologies to the Supervisory Body (SBM). Unlike the initial recommendations intended for the Paris Agreement signatories (CMA) at the 29th Conference of the Parties (COP29), the SBM chose to create…
1stdibs.com, Inc. (NASDAQ:DIBS), a leading online marketplace for luxury goods, has reported a series of stock sales by Chief Financial Officer Thomas J. Etergino. According to the latest filings, Etergino sold a total of $20,614 worth of company stock over a span of three days. The transactions took place between October 8 and October 10, with share prices ranging from $4.50 to $4.5031. On the first day, Etergino sold 270 shares at $4.5011 each. The following day, he sold 1,493 shares at a consistent price of $4.50. The final sale involved 2,816 shares at $4.5031 per share. After these transactions,…
With all eyes on China right now, one fund manager is bullish on the country regardless of any “bazooka” stimulus measures, saying investors should be getting involved. Steven Glass, managing director and analyst at the Sydney-headquartered Pella Funds Management, said Chinese markets will continue to improve regardless of any huge stimulus announcements. Starting on Sept. 24, China announced a string of stimulus measures aimed at boosting China’s economy . Investors were underwhelmed Tuesday, however, when a National Development and Reform Commission briefing failed to announce any major new measures when markets reopened after the Golden Week holiday. After the stimulus…
(Bloomberg) — The way Jeff deGraaf sees it, hedge funds that sold a record amount of Chinese shares earlier this week toward the end of the CSI 300’s 10-day, 35% surge are in for a world of regret.Most Read from BloombergIn fact, says the co-founder and chief executive officer of Renaissance Macro Research, rarely in his more than three-decade Wall Street career have the stars aligned so perfectly for a lengthy rally.“Skepticism, valuation, stimulus, momentum and a trend change,” they’re all there, he said in an interview.It’s because of that backdrop that the Lehman Brothers and Merrill Lynch veteran is…