- April 25, 2024
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US Treasury Secretary Janet Yellen said on the 25th that the US economic growth rate in the first quarter fell to its lowest level in almost two years, but could be revised upwards. Photograph taken in February (2024 Reuters / Carla Carniel)
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that the U.S. economic growth rate fell to its lowest level in nearly two years in the first quarter, but that it could be revised upwards. He also said that inflation would fall to more normal levels.
The preliminary gross domestic product (GDP) for the first quarter of 2024, published by the US Department of Commerce on the 25th, was an annual increase of 1.6% compared to the previous quarter. Growth slowed significantly from the 3.4% increase in the previous quarter, and was the slowest for almost two years. See more
In response, Yellen said in an interview with Reuters that GDP growth fell short of the 2.4% growth expected by the market,
Perception Of Poverty In Colombia Fell 3.3% In…
The National Administrative Department of Statistics (DANE) released the results of the 2023 Quality of Life Survey (ECV), comparing key indicators since 2019.
One of the most significant data is the reduction in the perception of poverty among heads of household, which has decreased from 50.6% in 2022 to 47.3% in 2023, marking a substantial change in the growing trend of previous years. Although the proportions remain high, especially in rural areas where it reaches 70.5%, this decrease is a positive sign.
“Although the proportions of heads or spouses who consider themselves poor remain high, particularly in rural areas (70.5%), this reduction constitutes a break in the growing trend that the indicator has been registering in recent years,” the report highlights.
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Regarding affiliation to the General Health Social Security System, the national total It has reached 95.9% in 2023, with an increase of 1.2 percentage points compared to the previous year. This increase is mainly attributed to the greater insurance of people in the subsidized regime, which represents 55.6% of the total number of affiliates.
Navigating Metas AI Spending: Zuckerbergs Struggle To Soothe…
Meta Stock Plummets as Zuckerberg Pours Cash into AI
Shares of Meta (META) took a nosedive, dropping over 10% following CEO Mark Zuckerberg’s announcement of increased investment in artificial intelligence, causing concern among investors.
Zuckerberg’s Reassurance Amidst Stock Volatility
During an earnings call, Zuckerberg attempted to alleviate worries about the company’s expenditure by highlighting Meta’s history of similar strategic shifts in the past when adopting new technologies.
Long-Term Profitability Challenges
Despite Zuckerberg’s optimism, he acknowledged that it may take several years before Meta sees returns on its AI ventures. In a January Instagram post, he disclosed Meta’s plan to acquire 350,000 Nvidia H100 AI chips by year-end, with estimated costs running into billions.
Financial Implications and Future Projections
Meta’s CFO Susan Li echoed Zuckerberg’s sentiments, revising the company’s annual expense forecast upwards due to escalating infrastructure and legal outlays. Li emphasized the necessity of continued investments in the coming years.
Expert Opinions on Meta’s AI Strategy
Industry experts believe that Meta’s AI focus, while overshadowing its metaverse ambitions, holds promise for long-term gains. Analysts stress the importance of Meta’s prudent spending and strategic positioning in the AI landscape.
Meta’s Diverse AI Investments
Meta’s AI initiatives span consumer-oriented applications like the Meta AI chatbot for general queries and advertiser-centric tools for AI-driven campaign creation on social platforms.
The French Are Shopping In Italy In The…
EdflexFrench market leader in the sector of corporate training content, buys OfCourseMe, Italian technology start-up specialized in corporate education. For the French, Italy offers unexpressed potential in a rapidly growing sector, which could reach a turnover of 20 billion. «We have identified OfCourseMe as a springboard for growth», explains Philippe Riveron, president of Edflex.
Edflex has over 100 employees distributed across offices between Paris, Nantes and Milan, for more than 1.5 million workers/users trained and active on the global market, distributed across 250 companies customers, belonging to the most diverse industrial and commercial sectors, including Total, Generali France, Bulgari, Air France and UniCredit.
France has allocated significant resources to encourage professional development for all workers. The Macron government has invested approx 1 billion euros to accelerate the digital transition. Analysts at the Polytechnic University of Milan estimate a turnover close to 20 billion euros. «We have over 20 million workers in Italy who need personalized upskilling and reskilling paths», explains Davide Conforti, Founder & CEO of OfCourseMe. «Until now these operations have mostly been characterized by spot initiatives, managed based on the sensitivity of individual HR and learning managers within companies. Today, continuous training is an integral part of the strategies of companies of all sizes and supply chains.”
#French #shopping #Italy #field #training #companies
2024-04-25 20:55:35
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Japan Ready To Support The ODOF Project
Warm handshakes between Minister Razafindravahy and Ambassador Abe Koji.
Minister Edgard Razafindravahy and Japanese Ambassador Abe Koji met yesterday in Ambohidahy. The ODOF project was at the center of discussions between the two men.
Economic cooperation between Japan and the Big Island continues and expands towards new horizons. Abe Koji, Japanese ambassador, was received in audience in Ambohidahy yesterday by the Minister of Industrialization and Trade, Edgard Razafindravahy. Several topics were discussed during this interview, but the two men mainly discussed the One District, One Factory project. Minister Edgard Razafindravahy presented the progress made by the Big Island since the launch of the project. “Fifty-one districts currently have machines that allow products to be locally processed so that they meet the daily needs of the population,” says Edgard Razafindravahy. It is the grassroots producers who directly benefit from this initiative of the Ministry of Industrialization. This is also what is continually reminded to entrepreneurs chosen to manage an ODOF unit: “Be careful that farmers and producers are not harmed,” insists the Minister of Industrialization and Trade.
It also emerged from the discussions that the two countries share a common vision regarding grassroots development. According to Abe Koji,
Saudi Arabia Launches The Investment Enablers Program In…
The Kingdom of Saudi Arabia launched the Investment Enablers Program in the tourism sector, which aims to facilitate doing business and raise the attractiveness of investment, for both local and international investors, according to the Saudi Press Agency.
The Ministry of Tourism in the Kingdom announced the Investment Enablers Initiative in the hospitality sector, in cooperation with the Ministry of Investment, which aims to increase and diversify tourism offers and raise the capacity of tourism hospitality facilities in targeted tourist destinations across the Kingdom.
The initiative seeks to attract private investments in the hospitality sector, amounting to about 42 billion riyals ($11 billion), with revenues estimated at about 16 billion riyals ($4 billion) on the Kingdom’s gross domestic product by 2030.
The initiative includes a package of strategic capabilities specifically designed to improve the cost and ease of business, and this includes facilitating access to government lands on favorable terms, simplifying project development processes, and finding solutions to the challenges that investors may face, in addition to developing a number of regulations that are part of the efforts made by The Ministry of Tourism, with the aim of reducing operating costs and encouraging the growth of the tourism industry.
No More Gas From Russia. Is This A…
#gas #Russia #sign #problems #stations
In December 2023, another package of EU sanctions against Russia entered into force, including an embargo on the import of Russian LPG. According to the assumptions, the implementation was to include a one-year transition period and allow the import of Russian LPG on the basis of previously concluded agreements. After December 20, 2024, the embargo will apply in its full form. However, this may mean big problems for Poland.
It is no secret that our domestic liquid fuel market is strongly dependent on imports. In this way, we satisfy almost 90 percent of our needs. demand for this fuel. What’s more, almost half of its import comes from Russia. As noted by the Polish Press Agency, the introduction of a full embargo may result in noticeable turbulence on our market. These concerns are also confirmed by the words of Adam Sikorski – president of Unimot, one of the largest LPG sellers in Poland.
In practice, imports of Russian LPG will end around October this year. We are preparing for this situation,
US Economic Activity Grew Slightly In Recent Weeks:…
U.S. economic activity expanded slightly from late February to early April and there were fears among businesses that progress in reducing inflation would stall, a Federal Reserve (Fed) survey showed Wednesday, continuing with recent trends that have prevented the central bank from cutting interest rates.
The U.S. central bank released its latest view on the health of the economy a day after Fed Chair Jerome Powell backed away from earlier guidance on when its benchmark interest rate could be cut and, Instead, he said monetary policy needs to be tight for longer due to a series of stronger-than-expected inflation readings.
“General economic activity expanded slightly. “Ten of the twelve districts experienced slight or modest economic growth,” the Fed reported in the survey known as “Beige Book,” which polled business contacts across the central bank’s 12 districts through April 8. “The economic outlook among contacts was cautiously optimistic, on balance.”
Until the turn of the year, Powell and his colleagues had been encouraged by data showing inflation, which in 2022 soared to a 40-year high, was drifting toward the Fed’s 2 percent target rate, even amid strong economic growth and a low unemployment rate.
However,
Elon Musk In Austin, Texas: Employee Barracks Like…
The residential buildings in the existing part of Snailbrook are small, more reminiscent of barracks, but are still larger and, with their small front gardens, more comfortable than what Musk is planning 500 meters to the northeast. Here, plans submitted to local authorities under the name “Project Amazing” show that he wants to build 110 residential buildings for employees in a very small space. The streets are named after Boring drilling technology and are called Cutterhead Crossing, Waterjet Way and Porpoise Place.
Also read: Tesla’s business is doing wors e than expected. Nevertheless, the stock market reacts euphorically.
In addition, a new school that works according to the Montessori principle is to be built on one of the adjacent plots. In 2014, because he was dissatisfied with his sons’ school, the billionaire quickly founded his own – under the name Ad Astra. What initially started as face-to-face classes for eight students is now, according to the local newspaper “Austin Statesman,” Astra Nova a purely online school for 185 children, especially children whose parents work for the space company SpaceX. Musk is also said to be planning to open his own university nearby.