According to research from ThinkThank Public First which is commissioned by Google, 31% of British jobs will be insulated from technology while 61% of the jobs will be radically transformed by AI According to Google there are about two-thirds of British jobs that could be enhanced with AI. This will leave out a tiny proportion ..read more

ADIA & Nestle’s Ice Cream Venture includes brands like Haagen-Dazs. The Abu Dhabi Investment Authority is in talks of investing a minimum of €1 billion ($1.1 billion) in Nestle’s SA’s ice cream joint venture. The venture includes brands like Haagen-Dazs as per the people who are aware of the matter.   Abu Dhabi’s biggest sovereign which has almost $1 trillion of assets in control is considering and in talks with the advisors as it is considering committing fresh capital to the Fenori ice cream venture by Nestle with the buyout PAI Partners.   As per sources, the deal wo ..read more

The manufacturers of hardware that is used in AI computing dealt with some of the biggest drops after a soaring year. The investors have said to have lost faith in the artificial intelligence (AI) which resulted in a sparkling US $1 trillion drop in the Nasdaq 100 Index. There were questions from the investors on how long it would take for substantial investments in the technology to pay off. The Nasdaq indexes fell more than 3%, marking the worst day since October 2022. The list of laggards included AI technology darlings such as Nvidia, Broadcom, and Arm Holdings. The sell off was initiated ..read more

The main agenda of the budget are internship, employment and skilling schemes which could marginally rectify the issue of jobs for the largest youth population in the world. The Finance Minister of India, Nirmala Sitharaman presented a new economic roadmap of Prime Minister Modi’s 3.0 in her record breaking seventh budget. While unveiling the Union Budget  2024 Sitharaman said that the Modi government will evidently focus on the middle class and youth of India.  They aim at diminishing angel tax in a massive boost for the startup ecosystem and revise the new tax regime structure. The ..read more

The move to gold is to diversify holdings and reduce reliance on the US dollar. African countries are racing to increase their gold holdings. The reason? To protect themselves against geopolitical tensions that have devalued their currencies and fueled inflation. Zimbabwe, Nigeria, and South Sudan are among the nations that have either strengthened their holdings or are thinking about doing so. The action is in line with that of central banks that have amassed gold reserves in order to diversify their holdings and lessen their reliance on the US dollar, including those in China and India. A po ..read more

New York and Seattle take over a small portion of the apps business. New York and Seattle have a new wage increase requirement for gig workers by ratcheting up fees and the food delivery apps have responded to it. At present they are dealing with frustrated consumers, increasing restaurant orders and a massive inflow of delivery drivers.  Customers and employees were irritated with apps that increased fees to offset wage increases in Seattle and New York. New York is one of the places where pay for delivery drivers has increased. The lawmakers in the city say that the changes have benefit ..read more

After the government of Hong Kong passed article 23 in March, immigration has been on the top of the minds of most residents. As Hong Kong is under tight control of China, thousands of residents are relocating to the UK permanently. The relocating wave of residents are leaving their retirement money which is trapped in the Asian financial hub.  Ideally, people leaving Hong Kong on a long-term basis are eligible and entitled to access to their savings that they have put together in Hong Kong’s compulsory pension system. Regardless of their employment status the mandatory provident Fund hel ..read more

President Biden is the first democrat in US history to drop out so late during a presidential campaign. On Sunday 21st July, President Joe Biden announced his end of the presidential re-election campaign. This decision caused disruptions to his five decade long political career and the race for the white house with less than four months before the Election day.  Biden, who is 81 said that he made the decision for the best interest for his party and the country. He bowed to the weeks of pressure about his age and mental fitness after a disastrous debate against Donald Trump in June.  ..read more

The new regulations on crypto which were issued last month. The latest regulations on stablecoins by the UAE Central Bank is expected to lay out a new operational framework for the cryptocurrencies. Thai will be implemented next year and introduce the mainstream acceptance of decentralized currencies in the nation.  The new regulations on crypto which were issued last month will exclusively only allow dirham-backed stablecoins to vendors and businesses in the Emirates to accept cryptocurrencies for their goods and services. This will be considered as a kind of virtual payment token.  ..read more

This deal would be EssilorLuxottica’s first major push into the apparel industry. EssilorLuxottica, the owner of brands like Ray-Ban and SunglassHut, agreed to acquire the streetwear brand, Supreme, for $1.5 billion from VF Corporation. This is marked as the first apparel company acquisition of the French-Italian eyewear maker. The Vans and North Face owner VF Corporation themselves paid about $2.1 billion to take over Supreme in 2020.  The CEO and chairman of EssilorLuxottica, Francesco Milleri said in a statement that they see an incredible opportunity in acquiring an iconic brand ..read more