After predicting the global chip shortage would last until 2023, Intel Corporation CEO Pat Gelsinger is now suggesting the shortage could last until at least 2024. Gelsinger thinks that the industry can meet the demand for new products being built on new lines, not just existing ones; hence, the chip shortage will stretch into 2024. Talking about Intel’s…
Here’s Why Intel CEO Believes Chip Shortage to Last Until 2024
May 3, 2022
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Business & Economychip shortageCompanieseconomyIntelInternationalsupply chainTechTech NewsUSUS NewsWorld
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US Treasury 10-year Yield Hits 3 Percent for First Time in More Than 3 Years
NEW YORK—The U.S. benchmark 10-year Treasury yield on Monday hit 3 percent for the first time since December 2018, a psychological milestone that could have major implications for other financial markets. The 10-year yield is an important barometer for mortgage rates and other financial instruments. It has surged the last two months as the bond…
US Treasury to Pay Down $26 Billion in Debt in Q2
NEW YORK—The U.S. Treasury said on Monday it expects to pay down $26 billion in debt the second quarter, down from a January borrowing estimate of $66 billion, primarily because of an increase in receipts. The second-quarter estimate assumes an end-of-June cash balance of $800 billion. The Treasury has been paring back debt auction sizes…
‘I’m Not Anti-Elon,’ Vitalik Buterin Says as the Ethereum Founder Offers His Take on Twitter Takeover
May 3, 2022
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Business & EconomyCompaniescryptocurrencyeconomyElon MuskMarketsSocial MediaTechTwitterUSUS NewsVitalik Buterin
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Ethereum founder Vitalik Buterin has for the first time commented on the Twitter, Inc. takeover sage after the company agreed to be taken over by Elon Musk. What Happened The largest consequence of Musk taking over Twitter may not be the specific policy decisions the Tesla, Inc. CEO would make, Buterin said in a tweet….
Purdue Urges Appeals Court to Revive Sackler Opioid Lawsuit Shield
Judges on a U.S. appeals court appeared hesitant on Friday to revive a legal shield that would protect members of the Sackler family who own Purdue Pharma from lawsuits related to the prescription opioid OxyContin, a key to ending the company’s bankruptcy. During oral arguments, a three-judge panel on the 2nd U.S. Circuit Court of…
China’s April New Home Prices See Slower Gains: Private Survey
BEIJING—China’s April new home prices grew at a slightly slower pace compared with March gains, a private survey showed on Sunday, with policy-easing moves by local authorities yet to significantly revive buying sentiment. New home prices in 100 cities rose 0.02 percent from a month earlier, easing from the 0.03 percent gain in March, according…
Australia Hikes Official Interest Rate for First Time in Over a Decade
May 3, 2022
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anthony albaneseAustraliaAustralian Cash rateAustralian inflationBusiness & EconomyBusinesses in COVID-19economic policieseconomyinflationInternationalInvestmentpersonal financeRBAScott MorrisonWorld
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The Reserve Bank of Australia (RBA) has raised the cash rate for the first time in over a decade, up 0.25 percentage points to 0.35 percent. The decision came earlier than what was initially indicated in response to March quarter inflation figures, released on April 27, that showed annual inflation had surged to 5.1 percent,…
Wikipedia Organization Ceases Accepting Cryptocurrency Donations
May 3, 2022
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Big Tech, Censorship, and SocialismBusiness & EconomyCompaniescryptocurrencyFeatured TopicsMarketsMedia & Big TechTechTech NewsUSUS NewsWikipedia
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The Wikimedia Foundation, a non-profit organization that runs Wikipedia and several other “Wiki”-branded online reference tools, announced on May 1 that it would no longer accept donations in the form of cryptocurrency, citing ethical and environmental concerns about the payments using blockchain currencies. The decision follows from a proposal by longtime Wikipedia editor Molly White,…
Australian Election Reveals the Weakness of ‘Centrist Politics’
May 2, 2022
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Australiaaustralian federal electionAustralian federal election 2022Business & Economycentristeconomic policiesglobalizationInternationalOpinionViewpointsWorld
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Commentary The Australian federal election has so far demonstrated just how much the political centre is weakening as voters shift further right and left. It is all part of a worldwide trend that has seen growing discontent at the status quo from voters in the United States, United Kingdom, France, and Canada. At the heart…
Amazon Workers Reject Unionization at Second Staten Island Warehouse Election
Workers at a Staten Island Amazon Warehouse rejected a motion for unionization on Monday, just one month after a neighboring Amazon warehouse in Staten Island became the first in the United States to form a workers’ union. In the recent union election at Amazon’s LDJ5 sort center in Staten Island, workers voted 680 to 318…
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