Swiss banking group UBS will reduce its workforce by 20 to 30 percent after acquiring its troubled industry peer Credit Suisse. This means 36,000 jobs will be cut worldwide, reports the Swiss newspaper SonntagsZeitung. The newspaper bases itself on statements made by a manager at the bank. In Switzerland, 11,000 […]
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Japan is further restricting the export of technology for the production of chips. From now on, about ten companies from the Asian country will need a license to export their most advanced products. The decision follows pressure from the United States to stop selling state-of-the-art semiconductor technology to China. Still, […]
Pope Francis, who was hospitalized in Rome on Wednesday with a respiratory infection, is on the mend and has resumed work from the hospital. The Vatican announced this on Thursday. The health of the 86-year-old pope is gradually improving, and planned treatments are continuing. “This morning after breakfast, he read […]
Over a thousand people have signed an open letter calling for a pause in developing increasingly powerful artificial intelligence (AI). Tesla boss Elon Musk and Apple co-founder Steve Wozniak, among others, are concerned about the lack of guardrails in case AI systems disrupt society. Specifically, the signatories ask developers of […]
Apple has acquired WaveOne, a company that wants to provide better image compression with artificial intelligence. Apple does not formally confirm the acquisition, but Techcrunch found that WaveOne’s website has been offline since January. However, many former employees are active today in the company’s machine-learning groups. At the same time, […]
Airline Transavia still flies to Israel despite a general strike in that country. As a result, no flights departing from Tel Aviv airport. But as it looks now, planes can land there, says Transavia. The low-cost carrier has two flights planned from Schiphol to Tel Aviv. Transavia is closely monitoring […]
Japan has lifted restrictions on exports to South Korea of materials necessary for making chips. With this, the two countries have taken a new step towards normalising trade relations. Earlier this week, South Korea had already returned Japan to a list of trusted trading partners. Relations between the two neighbouring […]
The reconstruction of Ukraine after the Russian invasion will probably cost about 411 billion dollars, about 380 billion euros. That is 2.5 times the total economy of the country. The World Bank, the United Nations, the European Commission and Ukraine itself released that calculation on Wednesday. The damage has increased […]
Traces of caesium-137 have been found in a Thai steel foundry—a cylinder containing that dangerous radioactive substance disappeared in Thailand over a week ago. The local authorities reported this on Monday. “We are not sure whether the cylinder has already melted,” said provincial governor Narong Nakornjinda. “However, we did find […]
According to the Financial Times, Swiss bank UBS has offered to buy troubled Credit Suisse for up to $1 billion. However, Credit Suisse believes the offer is far too low; sources told Bloomberg. The Swiss authorities are therefore planning to change laws to circumvent the vote of the shareholders on […]
