Economy

Economy Latest News

In just one year, Google turns AI setbacks into dominance
In just one year, Google turns AI setbacks into dominance
by  AFP

Caught off guard by ChatGPT and mocked for early blunders with its own generative artificial intelligence efforts, Google has pulled off a dramatic turnaround in just one year, becoming a major player in consumer-facing AI. "The market had written off Alphabet in the AI race," Matt Britzman, analyst at Hargreaves Lansdown, said of Google's parent company.

New York's finance sector faces risks from Trump visa crackdown
New York's finance sector faces risks from Trump visa crackdown
by  AFP

On a bright September morning, employees stream through the turnstiles and vast lobby of Goldman Sachs’ headquarters in the sunlit Battery Park City neighborhood of Manhattan. - Concentration in New York In the first two quarters of 2025, Goldman Sachs was the biggest recipient of H-1B visas in New York City.

'We're gonna help': Trump to the rescue of struggling Argentina
'We're gonna help': Trump to the rescue of struggling Argentina
by  AFP

US President Donald Trump promised financial "help" for struggling Argentina in a meeting with close ally Javier Milei, who is seeking a US loan to calm markets ahead of crucial mid-terms elections. Budget-slashing libertarian Milei has sought to halt on the peso following a provincial election trouncing for his party that was seen as a litmus test for next month's national mid-terms.

Powell warns of inflation risks if US Fed cuts rates 'too aggressively'
Powell warns of inflation risks if US Fed cuts rates 'too aggressively'
by  AFP

US Federal Reserve chief Jerome Powell warned Tuesday that slashing interest rates too quickly could allow inflation to remain elevated, but stressed that the central bank faces dual challenges moving forward. The reduction came while the independent central bank faced intensifying pressure from Donald Trump.

We can build fighter jet without Germany: France's Dassault
We can build fighter jet without Germany: France's Dassault
by  AFP

The head of French defence company Dassault said on Tuesday his firm could build the future European fighter jet by itself, as tensions persist with Germany over the multi-billion-euro project. Both European leaders have expressed support for the fighter jet project but tensions between the two aerospace contractors have marred cooperation.