Microsoft co-founder Bill Gates has issued his first public remarks in response to a proposal endorsed by Elon Musk and scores of artificial intelligence experts who demanded an urgent pause to the development of advanced forms of AI due to “profound risks to society and humanity.” Gates told Reuters in an interview that calls to…
Volvo Car’s Sales up 8 Percent in March
COPENHAGEN—Sweden-based Volvo Car AB said on Wednesday its sales increased by 8 percent year-on-year in March to 63,132 cars, helped mainly by the company’s fully electric cars. Volvo Car said in a statement its fully electric models made up 41 percent of all its cars sold globally in the first three months of this year….
Small Businesses File for Bankruptcy at Record Pace, Surpassing COVID Crash
Small businesses across the United States are experiencing a surge in bankruptcies, surpassing levels not seen since 2020. According to a UBS note reviewed by The Epoch Times, conditions could become worse as the knock-on effects from the recent banking crises begin to manifest. The note from UBS Evidence Lab shows private bankruptcy filings in…
FedEx to Combine Delivery Units as Part of $4 Billion Cost-Cut Push
LOS ANGELES—FedEx Corp. said on Wednesday it will consolidate its separate delivery companies into a single entity, as the group slims its bloated infrastructure to compete better with United Parcel Service and Amazon. The move to integrate FedEx Ground, its outsourced package delivery arm, with the FedEx Express overnight air delivery business was announced almost…
As ESG Consulting Booms, Consultants Push Small Business to Get on Board
News Analysis The business of ensuring compliance with environmental, social, and governance (ESG) factors is booming, and a study by the Business Development Bank of Canada (BDC), a government agency that works with entrepreneurs and smaller businesses, suggests that its clients get on board the ESG train or be left in its dust. However, ESG…
Morgan Stanley Warns of Something ‘Worse Than Great Financial Crisis’ for Commercial Real Estate Market
Morgan Stanley analysts have issued a stark warning regarding the commercial real estate market in the wake of banking turmoil after the collapse of Silicon Valley Bank (SVB) and Signature Bank last month. In a weekly Global Investment Committee note published on April 3, Lisa Shalett, chief investment officer for Morgan Stanley Wealth Management, noted that the commercial real estate sector faces…
Walmart Aims for Automation in 65 Percent of Its Stores by 2026
Walmart Inc. said in a press release on Tuesday that it aims for 65 percent of its stores to be served by automation by 2026. The letter said that an “omnichannel” network will be used, which includes greater use of data, more intelligent software, and automation. “Walmart showcased its supply-chain innovation Tuesday at its Brooksville,…
Former CEO of Frank Charged With Fraud Over $175 Million Deal With JPMorgan
Charlie Javice, the founder of failed student loan assistance platform Frank, has been charged with defrauding banking giant JPMorgan Chase (JPMC) out of $175 million, the Department of Justice (DOJ) announced. Javice, 31, was arrested in New Jersey on April 3 and appeared before U.S. Magistrate Judge Barbara Moses on Tuesday, according to the DOJ. Janice was released on a…
Cash App Founder Stabbed to Death in San Francisco
April 5, 2023
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Bob Lee, the creator of the mobile payment service Cash App and the former chief technology officer of Square, has been stabbed to death in San Francisco. The 43-year-old tech executive was found by officers in the early hours of April 4, after suffering multiple stab wounds. The San Francisco Police Department (SFPD) said there had…
Stocks Falter as Economic Worries Nag, Big Rate Hike Lifts Kiwi Dollar
April 5, 2023
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LONDON—World stock markets stumbled on Wednesday as signs that the economic outlook is weakening spurred caution, while a bigger-than-expected interest-rate hike from New Zealand lifted the kiwi dollar. European stocks fell with the broad STOXX 600 index pulling away from Tuesday’s one-month highs. U.S. equity futures dipped and Japan’s Nikkei fell 1.6 percent in its…
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