Embattled GE plans thousands of layoffs amid corporate overhaul

Embattled industrial giant General Electric announced a massive restructuring plan on Monday that includes thousands of job cuts and sales of some units as the new management tries to right the corporate ship. Newly-installed CEO John Flannery rolled out the plan to investors in New York, describing a moment of reckoning for the company amid falling… Please follow and like us:

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Tax – US won’t support French proposal on taxing tech giants

The United States does not support a French proposal to tax the gross revenues of international tech corporations like Google and Amazon, Treasury Secretary Steven Mnuchin said Saturday. The remarks come as European officials say Washington has softened in recent days on a point that has caused sharp transatlantic tensions in recent years. European authorities have… Please follow and like us:

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The rise of new technology giants from China

Lei Jun, founder of smartphone maker Xiaomi, presents an updated version of the company’s “concept smartphone” Mi Mix, the Mi Mix 2, in Beijing on Sept 11, 2017.[Photo provided to chinadaily.com.cn] Google, Amazon, Facebook and Apple (‘GAFA’) may still be the world’s largest technology companies, but a new generation of technology contenders is coming from the… Please follow and like us:

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Exxon Loses Top Energy Spot To Russian Natural Gas Producer

A government-run Russian natural gas producer has supplanted ExxonMobil as the top energy company in the world. Gazprom is now the world’s top energy company, according to the 2017 S&P Global Platts Top 250 Global Energy Company Rankings, which ranks the financial standings of firms on their asset worth, revenues, and profits. “Regulated utilities, in particular,… Please follow and like us:

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Trump’s November Asia Trip to Include 1st China Visit

U.S. President Donald Trump will embark on a trip to Asia in November with the goal of garnering global support against the North Korean threat, while attending regional summits and discussing trade, the White House announced Friday. “The president’s engagements will strengthen the international resolve to confront the North Korean threat and ensure the complete, verifiable,… Please follow and like us:

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Legislative Logjam Threatens Early Economic Momentum for Trump

Despite sluggish legislative progress on big-ticket agenda items, new numbers suggest the Trump administration has continued to inject confidence into the U.S. economy. The U.S. economy grew at a rate of 2.6 percent from April 1 to June 30, according to the federal government. President Donald Trump wants economic growth of at least 3 percent to… Please follow and like us:

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