Author: IA PressRoom

A photo of a double-decker airplane seat has gone viral. The concept, designed by Alejandro Núñez Vicente, 23, first went viral last year. The internet has a few concerns about the new iteration, the biggest one being farting. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app A photo of a double-decker airplane seat has gone viral on the internet, with people divided on whether they would want to take a seat. Pictures of the Chaise Longue Airplane Seat prototype, designed by Alejandro Núñez Vicente, first…

The UK will host the first global summit on the regulation of artificial intelligence this autumn, the prime minister is set to announce today.Rishi Sunak is expected to tell US president Joe Biden that Britain can exert leadership in establishing the “guardrails” for the new technology and will host the meeting to discuss how internationally co-ordinated regulation can mitigate risk.Downing Street said the summit would bring together political and industry leaders from “like-minded countries”, but China is likely to be excluded. “Invitations will be sent out at the appropriate time,” Sunak’s spokesperson said.Sunak will today hold talks with Biden in…

© Reuters. FILE PHOTO: The International Monetary Fund (IMF) logo in Washington, United States, September 4, 2018. REUTERS/Yuri Gripas/ KARACHI, Pakistan (Reuters) – Pakistan can have only one remaining board review under the current bailout package of the International Monetary Fund (IMF) before its budget is unveiled on June 9, itself a step towards a successful review, a Fund official said on Thursday. “To pave the way for a final review under the current EFF, it is essential to restore the proper functioning of the foreign exchange market,” the multilateral lender’s resident representative for Pakistan, Esther Perez Ruiz, told Reuters.…

2/2 © Reuters. FILE PHOTO: A employee works at a clean room of National Nanofab Center in Daejeon, South Korea, September 3, 2020. REUTERS/Kim Hong-Ji 2/2 SEOUL (Reuters) – South Korea pledged support for its chip sector on Thursday, with President Yoon Suk Yeol describing competition in the industry as an “all-out war” amid heightened U.S.-China tensions. Earlier in the day, Yoon met with about 60 industry leaders, lawmakers and ministers to discuss how to maintain South Korea’s lead in memory chips, foster development of system semiconductors, and secure materials, equipment and labour. “Geopolitical issues have become the biggest risk…

GameStop Corp. fired Chief Executive Matthew Furlong on Wednesday and said that its board had elected activist investor Ryan Cohen as its executive chairman, effective immediately. Shares of the videogame retailer and meme stock sank 19% after hours following a brief press release detailing the move. That release did not offer a reason for Furlong’s firing and was made shortly ahead of the chain’s quarterly results. Cohen, in a tweet shortly after the announcement, said: “Not for long.” GameStop GME, +5.75%, in its quarterly earnings release, said it would not be holding a conference call to discuss those results. But…

Portrait Of Excited Elementary School Pupils On Playing Field At Break Timegetty A group of U.S. Representatives has introduced the American Family Act, legislation that would make the previously expanded and improved monthly child tax credit permanent. Background During Covid-19, the American Rescue Plan Act provided relief for American families through a series of payments and credits. One of those was a “super-charged” version of the child tax credit. Beginning in July of 2021, the IRS began distributing nearly $93 billion in advance child tax credit payments to families—you’ll recall those as paper checks or direct deposits that appeared each…

One invite to start: Is the era of the conglomerate over? Join DD’s Arash Massoudi in London on June 28 at 6:30pm for an exclusive conversation with Cevian Capital’s Harlan Zimmerman, Goldman Sachs’ David Dubner and the FT’s Peggy Hollinger about the factors driving the rise of corporate break-ups and what it means for companies, investors and advisers.There are a few spaces left. Email due.diligence.forum@ft.com if you’re interested.Welcome to Due Diligence, your briefing on dealmaking, private equity and corporate finance. This article is an on-site version of the newsletter. Sign up here to get the newsletter sent to your inbox…

© Reuters. FILE PHOTO: South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho speaks during an interview with Reuters in Incheon, South Korea, May 3, 2023. REUTERS/Kim Hong-Ji SEOUL (Reuters) -South Korea will discuss with Japan re-establishment of their bilateral foreign exchange swap line that expired in 2015, its finance minister said on Thursday. “Current economic issues, including bilateral and regional financial cooperation, will be discussed at the bilateral finance minister meeting on June 29,” Minister Choo Kyung-ho said, adding that currency swap arrangement was also on the agenda. Choo was speaking at a discussion forum,…

© Reuters Investing.com– Most Asian stocks retreated on Thursday amid continued concerns over rising interest rates and slowing global economic growth, although optimism over more Chinese stimulus measures helped limit some losses. Chinese losses limited as state banks cut deposit rates  China’s and indexes moved in a flat-to-low range, while Hong Kong’s lost 0.3% after the country’s biggest state-owned banks were seen cutting rates on yuan deposits. The move points to a further increase in local liquidity conditions, and could also herald a broader interest rate cut by the People’s Bank this month, as Beijing struggles to shore up a…

© Reuters. Investing.com– Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe, while the dollar hovered near 11-week highs ahead of a Federal Reserve meeting next week.  The fell 0.1%, hitting a fresh six-month low against the dollar after several major Chinese state banks began cutting interest rates on yuan deposits, which could herald a broader interest rate cut by the People’s Bank this month. Trade data released this week pointed to more economic headwinds for the country, as it struggles to recover from three years of COVID disruptions.…