Samsung to cut chip production
Image Source: BBC Samsung Electronics will stop making memory chips because it thinks its quarterly operating profit will drop by 96%. The chip-making giant said sales had dropped sharply because the world economy was slowing and there was less demand after Covid. From January to March, Samsung’s operating profits fell from 14 trillion won the […]
British Steel to cut jobs amid fears
Image Source: Bloomberg On Wednesday, British Steel will likely say that its coking ovens in Scunthorpe will close, putting 300 people out of work. It needs to be made clear when the store will close or how many people will have to lose their jobs because of it. Coking ovens are used to turn coal […]
Why the UK government want to cut spending
Image Source: Which? This year, public services and investments will cost the UK government more than £1 trillion. This includes salaries for nurses, school supplies, and state pensions. In the last 50 years, taxes have only paid for the government’s spending six times. Most of the time, the UK economy has a shortfall of about […]
Nancy Mace Approves Kevin McCarthy’s Strategy to Cut Spending
On Sunday, Rep Nancy Mace said she supports Republican leader Kevin McCarthy’s strategy. Earlier, McCarthy offered a strategy of refusing to raise the debt ceiling if Republicans win the general election. That is unless White House Democrats approve of the spending cuts. In an interview with CNN’s Jake Tapper on “State of the Union,” Mace […]
Petrol price rise warning after OPEC oil output cut
Image Source: Forbes In a move anticipated to push prices globally, some major oil-producing nations have decided to reduce the quantity of oil they export. Saudi Arabia and Russia are part of the Opec+ group, which said that it would reduce output by two million barrels per day. The organization claimed it wished to stabilize […]
EU moves to cut peak electricity use by 5%
Image Source: Bloomberg The President of the European Unioun (EU), Ursula von der Leyen has called for reductions in electricity use across the union and windfall taxation on energy companies to combat rising costs. After Russia’s invasion of Ukraine, she told the European Parliament, gas and power prices had reached record highs. She demanded that […]
How Trey Lance responded to Jimmy Garoppolo’s 49ers pay cut
Trey Lance jersey number 5, a former first round pick for the Carolina cougars and current NFL agent, has responded to news of Jimmy Garoppolo’s pay cut with the SF 49ers.The 49ers keeping Jimmy Garoppolo in Santa Clara wasn’t bad news for Trey Lance, trainer Kyle Shanahan believes. In fact, it was quite the contrary. […]
Famous Shanghai skyline go dark as power cut hits
Image Source: TravelPast 50 Officials say that an iconic skyline in the Chinese city of Shanghai, called “The Bund” will not be lit for two nights to save power. The waterfront area is a popular tourist destination known for its mix of historic and futuristic buildings. Major manufacturers in the Sichuan province told the BBC […]
