President Xi Jinping announced strategies to strengthen the finances of China's indebted local governments, which include increasing their financial autonomy and opening infrastructure to private enterprises.
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Is Crowdstrike Paying for the $1BN Damages Caused by the Global Outage? Experts Say It’s Unlikely
The global tech outage affected about 8.5 million Windows-based computers and laptops worldwide. A global tech outage following a faulty update from Crowdstrike caused business operations around the world to stop on Friday, leading to an estimated $1 billion in damages.
Social Security Payments Worth Over $4,800 To Go Out This Week; Here’s When You’ll Get Yours
The new round of monthly payments will be sent out to eligible retirees born on or after the 21st of a month.
Businesses, Airlines Struggle Amid Global Microsoft-Crowdstrike Tech Outages
More than 2,000 flights in the US were canceled by Sunday evening following the tech outage. Hundreds to thousands of businesses worldwide are still struggling following a faulty software update that caused global tech outages on Friday.
Joe Biden Stands Down From White House Race — Here’s How the Business World Reacted
US President Joe Biden announced that he was standing down from the country’s presidential election this November, endorsing Vice President Kamala Harris on his stead.
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On July 19, a global Microsoft Windows outage disrupted foreign businesses and luxury hotels, but China’s key infrastructure remained largely unaffected, following the country’s push for tech self-sufficiency.
Reliance Industries Ltd. reported a 5.4% profit decline for the quarter ending June 30, falling short of expectations due to ongoing issues in its oil-to-chemicals sector, despite a 12% revenue increase.
Bissell has recalled 3.3 million Steam Shot Handheld Steam Cleaners in North America due to a burn risk, following over 150 injury reports linked to the defect.
Boeing, facing severe financial and reputational damage from the 737 Max crashes, is implementing a comprehensive recovery plan involving better safety measures, workforce training, and buying back its troubled fuselage supplier.
Stellantis recalls over 24,000 plug-in hybrid minivans due to a potential battery fire risk, advising owners to park outdoors and avoid charging. At the same time, they investigate a defect linked to seven reported fires.
A recent update to CrowdStrike Falcon Sensor software caused widespread "blue screen of death" errors for Microsoft users worldwide, impacting both individuals and businesses and resulting in a 1.3% drop in Microsoft's stock price.
The company also said it will no longer participate in or support "external social or cultural awareness parades, festivals, or events.”
To compensate for the lost value, payments would need to increase to more than $4,400 a year. Read more here.
The new mini-model is an offshoot of GPT-4o, the company's fastest and most powerful AI model to date. Learn the features of this new model here.
