ByteDance set to lay off hundreds of staff

Published

3 years ago

August 6, 2021

Ticker

Beijing-based online giant, ByteDance has laid off hundreds of employees as it struggles to cope with China’s latest round of big-tech regulations.

The owner of TikTok, ByteDance had to shut down a significant portion of its online education sector in order to comply with the nation’s new laws.

Another company called GoGo Kid will be forced to shut down completely as China’s government moves in on the $100 billion industry.

The new regulations include a ban on private companies from teaching children how to earn profits and even raise capital.

In addition to this, the industry is not allowed to hire foreigners or teach school content to children.

The newly imposed regulations sparked widespread market concerns and triggered a $1 trillion wipeout from Chinese equities.

Fed’s signal a “No landing” scenario for the U.S. economy

Published

12 hours ago

October 7, 2024

ticker NEWS

A “No landing” scenario for the US economy has become more plausible following a significant jobs surge in September.

U.S. job market surged in September with over 254,000 jobs added, surpassing the 150,000 forecasts July and August job numbers revised upward by a combined 72,000 positions.

Money

Biden is “discussing” support for Israel over Iran oil strike

Published

4 days ago

October 4, 2024

ticker NEWS

The Biden administration believes it’s still “appropriate” for Israel to continue its ground and air attacks on Hezbollah.

The Middle East is a tinder box as Israel retaliates to Iran’s bombing earlier this week as well as fighting Hamas, Hezbollah and the Houthis in Gaza, Lebanon and Yemen. But what are the economic and geo-political implications? #featured #trending

Money

Defence shares rise to record high following Middle East attacks

Published

6 days ago

October 2, 2024

ticker NEWS

Stocks retreated Tuesday, with rising tensions in the Middle East cooling investor momentum after a strong quarter.

Oil prices eased and stocks recovered some ground after initial reports, as hopes grew that damage from the attack and any Israeli response would remain limited.

This market drop underscores the delicate balance between geopolitical risk and economic optimism. #featured #trending