Average data breach cost jumps to $5 million
In 2024, the average cost of a data breach has surged to $4.88 million (£3.6 million), a significant financial strain on businesses worldwide. On the other hand, companies that invested in advanced security AI and automation saw substantial savings, reducing potential breach-related expenses by $2.22 million (£1.6 million). For businesses, implementing robust AI-driven security measures are not […]
US Fed official warns against cutting rates ‘too quickly’
The US Federal Reserve should be careful not to cut rates “too quickly” and risk reigniting stubborn inflation, a senior bank official said Wednesday. The Fed’s favored inflation gauge has dropped sharply following a series of interest rate hikes in recent years, and now sits just above its long-term target of two percent. At the […]
Professional roles increasing as tech sector records uplift
Professional roles increased by 8.6 percent globally in October 2024 (compared with the previous month of September). In particular technology, media and telecoms reported a 14.2 percent growth in jobs. Increased were also seen in retail, consumer goods & services (+29.3 percent), basic materials (+15.1 percent) and healthcare (+12.7 percent). Nationally, Mexico leads the way […]
Sony quarterly net profit jumps but forecast unchanged
Sony’s net profit jumped in the second quarter thanks to stronger sales in gaming, music and imaging sensors, the PlayStation maker said Friday but left its annual profit forecasts unchanged. The yen’s weakness against the dollar and euro had a positive impact on takings in those key sectors, the Japanese conglomerate added. However, Sony Pictures […]
Layoffs in the technology sector reach a new high
As layoffs continue to shake the technology sector, a new report reveals the tech companies that have slashed the most jobs in 2024 so far. Data shows that in the UK, at least 6,036 employees in tech companies have lost their jobs since January. The firm BestBrokers has aggregated data on layoff announcements from global gaming companies using TrueUp, an IT […]
OpenAI releases ChatGPT search engine, taking on Google
OpenAI on Thursday beefed up its ChatGPT generative AI chatbot with search engine capabilities, as the startup takes on Google’s decades-long dominance of web search. The upgrade enables users to receive “fast, timely answers” with links to relevant web sources –- information that previously required using a traditional search engine, the company said. The significant […]
EU adopts extra tariffs of up to 35.3% on Chinese EVs
The EU on Tuesday decided to slap hefty tariffs on Chinese-made electric cars after an anti-subsidy probe concluded Beijing’s support to local manufacturers was unfair. The extra taxes have been controversial, with strong opposition from Germany and Hungary amid fears of provoking China’s ire and setting off a bitter trade war. Beijing slammed the European Union’s […]
Tesla shares jump as profits rise on lower expenses
Tesla shares surged Wednesday after the electric car maker reported a jump in profits, as increased auto sales and lower expenses offset the drag from a drop in vehicle prices. The company, led by Elon Musk, reported third-quarter profits of $2.2 billion, up 17 percent from the year-ago period on an eight-percent increase in revenues […]
McDonalds: Burgers, bacteria and market bombing
McDonald’s Quarter Pounders are temporarily unavailable in some states across the U.S. due to an outbreak of Escherichia coli food poisoning. There has been one confirmed death from the toxin the bacterium produces, according to the BBC. In addition, one child is in hospital with haemolytic uremic syndrome, which can cause kidney failure. The U.S. Centers for Disease Control […]
American Airlines reports loss on costs from new labor contract
American Airlines reported a loss Thursday on costs connected to a new labor contract, but described travel demand as solid as it lifted its full-year earnings forecast. The big US carrier reported a third-quarter loss of $149 million. Revenues edged up one percent to $13.7 billion. The results were dragged lower by one-time costs of […]
