Economy

China Orders Government, State Firms to Dump Foreign PCs

China Orders Government, State Firms to Dump Foreign PCs

(Bloomberg) — China has ordered central government agencies and state-backed corporations to replace foreign-branded personal computers with domestic alternatives within two years, marking one of Beijing’s most aggressive efforts so far to eradicate key overseas technology from within its most sensitive organs. . Most Read from Bloomberg Staff were asked after the week-long May break …

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Ukraine officials say Russia is stealing grain, which could worsen food crisis

Ukraine officials say Russia is stealing grain, which could worsen food crisis

Placeholder while article actions load Ukrainian officials say Russian forces have taken vast stores of grain from Ukraine and exported them to Russia, exacerbating the risk of shortages and hunger in areas under Russian control. Farmers in Ukrainian territory occupied by Russian forces reported that the Russians were “stealing their grain en masse,” according to …

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US companies added 247,000 jobs in April, sharply missing expectations: ADP

US economy likely added jobs at healthy clip in April despite worsening labor shortage

Slatestone Wealth chief management strategist Kenny Polcari discusses inflation and the March jobs report, arguing if inflation continues to ‘get strong its going to put pressure on the market.’ US job growth likely continued at a brisk clip in April, suggesting the labor market is still strong despite headwinds from the highest inflation in four …

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UN plans third evacuation from Azovstal steelworks as battle continues to rage | Ukraine

A third United Nations operation was under way on Friday morning to evacuate Ukrainian civilians from the Russian-besieged Azovstal steel plant in Mariupol, which the UN secretary general has described as a series of “hellscapes”. An estimated 200 civilians, along with Ukrainian resistance fighters, remained trapped in underground refuges at the huge industrial complex. The …

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ECB member pushes for quick move to raise rates

ECB member pushes for quick move to raise rates

The European Central Bank should move quickly to raise interest rates in order to tackle soaring inflation, according to Finland’s central bank chief. His comments come as the US Federal Reserve and the Bank of England’s tightening cycle intensifies pressure on the ECB to follow suit. “We have a conflict in pressures in monetary policy,” …

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Asian shares hit 7-week low as China doubles down on zero-COVID By Reuters

Asian shares hit 7-week low as China doubles down on zero-COVID By Reuters

©Reuters. FILE PHOTO: An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter By Alun John HONG KONG (Reuters) – Asian shares tumbled to their lowest in seven weeks on Friday and the dollar stood tall as investors globally shunned riskier assets …

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New Orleans launches pilot guaranteed income program: $350 monthly for young people |  Local Politics

New Orleans launches pilot guaranteed income program: $350 monthly for young people | Local Politics

Mayor LaToya Cantrell’s administration has launched a new, privately funded program to provide monthly cash payments to a small group of New Orleans teenagers and young adults, part of a national pilot aimed at building a case for a guaranteed income. The program selected 125 residents ages 16 to 24, and at the end of …

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Making an entry

India begins the privatization of its huge life-insurance company

IN 1956, ACE part of its experiment with embracing socialism, India created the Life Insurance Company of India (SCI) by nationalizing and lumping together 245 firms. The experiment took a while to conclude. In 2000 India allowed private firms to sell life insurance again. Two decades later it is selling at 3.5% sliver of SCI …

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