Author: Jack Mulligan
Spain closed out 2024 with its lowest December unemployment figures since 2007, reflecting steady economic recovery and job growth. According to the Labour Ministry, the number of registered unemployed dropped to 2.56 million, marking a 0.98% decrease from November and a 5.4% decline from December 2023. A Year of Progress in Employment Labour Minister Yolanda Díaz celebrated the achievement, stating on X: “We finished the year 2024 as we had started it: reducing unemployment, fighting precariousness, and with the will to go forward. In 2025 we will keep improving data and win over more time to live better.” While December’s…
China escalated its trade tensions with the United States on Thursday, adding dozens of American companies to its export control list in an effort to “safeguard national security and interests.” The move, announced by China’s Ministry of Commerce, prohibits exports of dual-use items—products with both civilian and military applications—to 28 U.S. entities. Sanctions on U.S. Defense Firms In addition to the export controls, China sanctioned 10 American defense companies, placing them on its “Unreliable Entities List.” The sanctions are a direct response to U.S. military sales to Taiwan, a self-governing island that Beijing claims as its own territory. According to…
South Korea’s political turmoil deepened on Tuesday as a court approved an arrest warrant for President Yoon Suk Yeol. This marks the first time in the country’s history that a sitting president has faced such a warrant. Yoon’s controversial declaration of martial law on December 3 triggered widespread protests, impeachment, and now legal proceedings that have left the nation in a state of crisis. Arrest Warrant Approved Amid Martial Law Controversy The Seoul Western District Court granted the warrant on charges of abuse of authority and orchestrating a rebellion, according to South Korea’s anti-corruption agency. Yoon had refused to cooperate…
A soft landing—a scenario where inflation normalizes without a significant rise in unemployment—remains a tantalizing possibility for the U.S. economy in 2025. For two years, the Federal Reserve has aimed to cool inflation without triggering a recession. While 2024 didn’t hit the Fed’s 2% inflation target, the economy grew steadily, and unemployment stayed low, fueling optimism among economists that the elusive soft landing may finally materialize. Signs of a Resilient Economy Key indicators suggest the U.S. economy could avoid a recession in the new year. Ashish Shah, chief investment officer of public investing at Goldman Sachs Asset Management, is optimistic:…
A series of cyberattacks targeting Chrome browser extensions has compromised multiple companies since mid-December, with the campaign reportedly affecting extensions related to data protection, artificial intelligence, and virtual private networks (VPNs). Cyberhaven Among the Victims One victim, California-based Cyberhaven, confirmed the breach in a statement to Reuters on Friday. “Cyberhaven can confirm that a malicious cyberattack occurred on Christmas Eve, affecting our Chrome extension,” the company stated. The attack, according to Cyberhaven and cybersecurity experts, is part of a broader campaign aimed at Chrome extension developers across various industries. The compromised extension, used by Cyberhaven to secure and monitor client…
This year’s major tech and labor stories reflect seismic shifts in global power and worker activism. Elon Musk’s meteoric rise to influence reached new heights in 2024, making him a central figure in global politics and commerce. Meanwhile, Amazon workers staged their largest strike to date during the holiday shopping season, highlighting growing labor tensions in the U.S. Elon Musk: From CEO to Global Power Player Elon Musk’s 2024 trajectory cemented his status as one of the most powerful unelected individuals in the world. With his companies integral to digital and physical infrastructure, Musk’s influence expanded far beyond the corporate…
U.S. semiconductor stocks edged higher in premarket trading on Tuesday after the Biden administration launched a trade investigation into Chinese-made legacy semiconductors. The investigation, initiated under Section 301 of the Trade Act of 1974, could lead to new tariffs on older chips from China used in everyday products such as cars, washing machines, and telecom equipment. Semiconductor Stocks React to Trade Probe Key semiconductor companies saw modest gains following the news: Meanwhile, sector-tracking ETFs, including the SOXX and SMH, rose 0.3% and 0.2%, respectively. However, Nvidia (NASDAQ:NVDA) and Taiwan Semiconductor experienced slight declines of 0.3% and 0.8%. Protecting U.S. Semiconductor…
Apple is reportedly developing a revolutionary smart lock and doorbell system that uses facial recognition to provide seamless home access. This potential game-changer in home security could allow users to unlock their doors simply by scanning their faces, according to a report by Bloomberg. While the technology is still in its early stages, it highlights Apple’s growing interest in the home devices market and its commitment to integrating cutting-edge innovation into everyday life. A New Era for Smart Home Security The proposed smart lock and doorbell system represents Apple’s foray into home security, leveraging its expertise in facial recognition technology.…
Friday morning in Kyiv began with chaos as Russian missiles struck the city during peak commuting hours. The attack claimed the life of one person and left 12 others injured, including five who required hospitalization. Historical landmarks, embassies, and civilian buildings bore the brunt of the assault, sparking outrage across Ukraine and beyond. Serhiy Popko, head of Kyiv’s military administration, reported, “Residents in the city center heard loud explosions, and fires broke out in several buildings.” Historical and Diplomatic Landmarks Damaged Among the damaged structures was St. Nicholas Cathedral, a cultural treasure described by Ukraine’s minister for cultural affairs, Mykola…
The U.S. economy grew at a robust 3.1% annualized rate in the third quarter of 2024, according to an upward revision from the Commerce Department’s Bureau of Economic Analysis (BEA) released Thursday. The revision reflects stronger-than-expected consumer spending and export growth, offsetting declines in private inventory investment and increased imports. The third-quarter expansion outpaced the previously reported 2.8% and the second quarter’s 3.0% growth, positioning the economy well above the Federal Reserve’s non-inflationary growth benchmark of 1.8%. Consumer Spending Drives Growth Consumer spending, which accounts for over two-thirds of U.S. economic activity, was revised upward to a 3.7% annualized growth…