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US Tech Sector Announces Most Job Cuts in Nearly Two Years
Jobseekers at a job fair in Fletcher, North Carolina. Allison Joyce/Bloomberg
China team drafts ‘comprehensive’ sanctions list targeting US, allies on 63 tech sectors
China team drafts ‘comprehensive’ sanctions list targeting US, allies on 63 tech sectors Scientists have listed sensitive or globally competitive tech that may benefit from export restrictions to keep them out of foreign hands These export controls are aimed at slowing China’s rise in high-end manufacturing and frontier science. But Beijing’s rapid progress in a number of strategic sectors has forced a dramatic shift: China is no longer merely a target of technology restrictions – it may...
US tech shares resume sell-off while oil prices retreat
US tech shares resume sell-off while oil prices retreat Global stocks mostly fell Tuesday (Jun 9) as US tech shares faced another round of selling followed recent outsized gains and markets weighed the latest uptick in US-Iran tensions. Oil prices retreated, with Brent crude briefly dipping below US$90 per barrel for the first time since Apr 14, after US President Donald Trump hinted at a deal with Iran in the coming days, despite renewed strikes by Israel on Hezbollah targets in Lebanon....
Analysis:US tech stocks' market dominance reaches new heights and presents new risks
Analysis:US tech stocks' market dominance reaches new heights and presents new risks NEW YORK, June 3 : The charge higher in U.S. technology stocks has made broader indexes as reliant as ever on the group - and more vulnerable should those market leaders trip up. With stunning gains over the past two months, the S&P 500 technology sector now accounts for more than 39 per cent of the market capitalization of the overall benchmark index, its highest on record and above the level it reached...
4 ways Europe wants to wean off US tech
BRUSSELS — The European Union wants to move away from foreign technology over concerns that overreliance has become a risk in shaky trade ties with Washington. The European Commission is finalizing a package of measures to boost its so-called technological sovereignty, set to be published on June 3. The package includes proposals to crack down on the bloc’s deep-rooted exposure to foreign technology in areas including cloud, artificial intelligence, microchips, software and data centers.
US charges tech CEO over alleged exports of restricted equipment to Iran
A dual US-Iranian citizen and chief executive of a Tehran-based technology company was arrested in the United States on federal charges relating to an alleged ten-year scheme to unlawfully export American-origin networking and encryption hardware to Iran's nuclear and military sectors, in violation of sanctions regulations. According to ANI, the defendant, Jamshid Ghomi, 63, a resident of Newport Coast, California, was taken into custody following a federal criminal complaint accusing him of...
Why are European governments reevaluating their agreements with US defence tech contractor Palantir?
Critics have flagged Palantir for their links to militaries involved in ongoing conflicts and ICE immigration enforcement in the United States. European governments are moving to reduce their reliance on Palantir, the US-based data analytics companyy whose platforms serve as the data and artificial intelligence (AI) backbone for militaries worldwide. Derk Boswijk, the Dutch State Secretary for Defence, said in the House of Representatives this week that a “fully fledged alternative” to...
Europe raises 'Kill Switch' fears, makes all 27 countries to junk US, Chinese tech
The European Commission has proposed a sweeping new set of regulations, approved by its 27 member states, to abandon their reliance on American and Chinese technology. The push for "tech sovereignty" comes amid warnings that a foreign power could weaponise critical digital infrastructure against the countries in the region. According to a report by CNBC, the proposals specifically target advanced microchips, artificial intelligence (AI), and cloud services -- which are essentially the...
The Dallas housing shift: How H-1b visa curbs and tech layoffs in US are cooling the market
A combination of tighter H-1B visa rules and widespread layoffs in the technology sector is contributing to a housing slowdown in parts of North Texas, according to a Bloomberg report. Areas such as Frisco, Prosper and Celina, which saw rapid growth driven by an influx of Indian technology professionals over the past decade, are now witnessing softer demand and falling home prices. The shift comes as the Trump administration tightened rules governing the H-1b visa programme, including higher...
EU launches major tech push to break US and China dependence
The EU is betting big on cloud computing and chips to reduce its technological dependence on the US and China, and to re-enter the global tech race. But whether it will succeed and how the two superpowers will react remain open questions. The European Commission has presented a sweeping package to boost homegrown technologies and reduce dependency on American and Chinese companies.