Tag: cuts
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China cuts growth target to between 4.5 and 5%
China has set a growth target for GDP this year of between 4.5 and 5 per cent, the lowest range in decades, and maintained a higher fiscal deficit as leaders warned of growing “difficulties and challenges” in the economy. Announcing national economic targets for 2026, China’s Premier Li Qiang also said on Thursday that defence read more
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Staff and Programming Cuts Are Coming to London’s National Gallery Amid Possible $11 M. Deficit
The National Gallery in London will institute cuts to staff and programming in the face of a deficit that would, in the absence of “decisive remedial action,” grow by 2027 to £8.2 million ($11.2 million), says the institution in an emailed statement. The museum says that “in the present global landscape and with the cost-of-living read more
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Vienna to Temporarily Close Composer Museums Amid Culture Budget Cuts
Austria’s capital Vienna will temporarily close several museums dedicated to famous composers this year as part of city-wide budget cuts, officials announced on Wednesday. The closures affect sites including the apartment where Franz Schubert died, the residence of Johann Strauss, and Joseph Haydn’s former home. Schubert’s birthplace will also close for a redesign ahead of read more
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Duvo raises $15M to give retailers AI staff that cuts manual work by 40%
Duvo, an AI-native automation platform that gives retail teams an AI workforce for day-to-day operations, has raised $15 million in seed funding. The round was led by Index Ventures, backers of Figma, Revolut and Wiz. Credo Ventures, Northzone and Puzzle Ventures also participated, along with angels Roy Reznik (co-founder of Wiz), David Singleton (former CTO read more
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Fed needs to move slowly with further rate cuts, Jefferson says
By Howard Schneider WASHINGTON (Reuters) -Federal Reserve Vice Chair Philip Jefferson said on Monday the U.S. central bank needs to “proceed slowly” with any further interest rate cuts as it eases policy towards a level that would likely stop putting downward pressure on inflation. In remarks prepared for delivery at a Kansas City Fed event, read more
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