Bain’s Shanghai office raided by Chinese police
U.S. consultancy firm Bain has Shanghai office raided as relations between Beijing and Washington sour
As relations between Beijing and Washington continue to deteriorate, U.S. consultancy giant Bain says Chinese police have visited its office in Shanghai.
The firm says it is cooperating with authorities where appropriate.
Officers reportedly took away computers and phones.
Just last month, fellow U.S. company ‘Mintz’ was also raided and five local employees were detained.
Bain’s Shanghai office was opened in the city’s central business district in 2004 and it has additional offices in both Beijing and Hong Kong.
The global firm provides advice to public, private, and non-profit organisations.
U.S. businesses are becoming increasingly concerned about their prospects in China given current geopolitical tensions.
Tensions have heightened since former President Donald Trump triggered a trade war between the two nations in 2018.
They were recently frayed even further when the U.S. shot down an alleged Chinese spy balloon, which Beijing insisted was a weather monitoring device. #trending #featured
When will airfares begin to fall?
As the global aviation market rebounds, airlines are changing their service offerings
Over 46 million workers in the global aviation sector lost their jobs as global aviation came to a grinding halt at the onset of the pandemic.
However, Geoffrey Thomas from AirlineRatings.com said passengers have returned to airport terminals and boarded flights in droves.
“When travelled returned, many of us wondered what sort of low airfares will we have to be charged to entice people back onto airplanes.”
In February 2023, total traffic (measured in revenue passenger kilometres) rose 55.5 per cent when compared to February 2022.
Globally, traffic is at 84.9 per cent of February 2019 levels.
“It was a stampede, the likes of which we have never seen before,” Mr Thomas said.
The worst of inflation could be behind us
The unprecedented nature of the pandemic continue to shape international fiscal policy
As reserve banks and federal reserves continue to battle the impacts of Covid-19, inflation has become a dominate issue.
In some parts of the world, rising household costs have slowed consumer spending by more than expected.
It means the end of aggressive rate hikes could come to an end in a matter of months.
In Australia, recent data from the Australian Bureau of Statistics confirmed inflation has passed its peak and is beginning to moderate.
The numbers show annual inflation peaked in December 2022 but will still remain higher for longer than anticipated.
Matt Grudnoff is a Senior Economist at The Australia Institute, who said these are uncharted waters.
“I don’t think they should be fully blamed.
“The pandemic was an entirely different kind of recession, one that we have never seen before.
“The world went into recession because the world shut down for very good health reasons.
“But the economy rebounded extremely quickly, simply because there was no underlying problem with the economy,” he said.
“I think there is a great risk”: will AI steal our jobs?
Artificial Intelligence has become an increasingly powerful and pervasive force in our modern world.
Artificial intelligence is not a new concept. However, the growing advancements have the potential to revolutionise industries, improve efficiency, and enhance the quality of life.
Along with its promising advancements, artificial intelligence also brings certain risks and challenges that must be acknowledged and addressed.
It has become the focus of lawmakers, who are working towards greater regulation of the sector.
U.S. and European Union officials recently met in Sweden to weigh up the benefits and challenges of artificial intelligence, and other emerging technologies.
“The AI process is creeping up on us,” said Dr Keith Suter, who is a global futurist.
“You’ve got competition between companies.”
It’s almost like some of us can see this raft that’s heading towards the rapids and a disappearance towards the waterfall, and we’re giving a warning but it’s not being heeded because everybody’s in this race to get down to the river,” Dr Suter said.
Is President Biden securing a ‘made in America’ supply chain for critical minerals?
Accelerating cybersecurity skills in the workforce
Is the West too reliant on Chinese rare earth exports?
Crypto.com accidentally transfers $10.5m to woman instead of $100
What is happening between SHIB and Vitalik? | TICKER VIEWS
Russia has cancelled itself. But the world should beware of poking the Russian bear￼
Insight1 week ago
Girls powering STEM
Insight6 days ago
The impacts of bad money mindsets
Originals1 week ago
From Zero to Hero: Behind the scenes at the Australian Formula 1 Grand Prix
Insight1 week ago
How food can be linked to diabetes diagnosis
Business1 week ago
Debt limit dispute: will America default?
World2 days ago
Ukraine prepares for a summer of violence
World1 week ago
Is the West suffering from Ukraine fatigue?
Insight1 week ago
How insurance brokers have a happy-knack of doing better in uncertain times