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Tesla wants China staff to stay in factory bubble until mid-June
Tesla Inc plans to keep employees at its Shanghai factory working in a so-called closed loop system – where staff are ferried to and from work and tested for Covid-19 regularly – until mid-June, people familiar with the matter said, even as Chinese authorities move to ease wider lockdown restrictions in the city.
'We are going to die': Food shortages add to Sri Lanka's woes
COLOMBO (Reuters) - Sri Lanka's prime minister has warned of a food shortage as the island nation battles a devastating economic crisis and vowed the government will buy enough fertiliser for the next planting season to boost harvests.
China cuts key mortgage reference rate as Covid-19 bites
China on Friday announced it would cut a key interest rate in a boost to home buyers and debt-mired developers as the country's economy is slowed by Covid-19 restrictions ripping across major cities.
China's zero-Covid policy dashes global hopes for quick economic return to normal
A sharp slowdown in China's economy caused by its strict zero-Covid rules and Beijing's shift away from a traditional reliance on external demand have cast doubts over how much the country will contribute to future global trade and investment.
China in talks with automakers on EV subsidy extension
SHANGHAI (Reuters): China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said.
German employment exceeds pre-COVID-19 levels: Destatis
BERLIN, May 18 (Xinhua) -- Germany's labor market fully recovered from the COVID-19 pandemic as the number of people in employment exceeded pre-crisis levels again in the first quarter (Q1) of 2022, the country's statistical office reported on Wednesday.
Netflix trims staff to weather slowing growth
Netflix on May 17 said it laid off about 2% of its staff in a belt-tightening move after growth slowed at the once-booming streaming television service.
China's economy contracts sharply as lockdowns wreak havoc
BEIJING (Reuters/Bloomberg): China's economic activity cooled sharply in April as widening Covid-19 lockdowns took a heavy toll on consumption, industrial production and employment, adding to fears that the economy could shrink in the second quarter.
Ukraine’s key IT sector booming despite Russian invasion
Ukraine’s IT sector is booming despite the Russian invasion. Workers with stickers on their laptops recline on beach chairs outside a warehouse for startups in the west Ukraine city of Lviv giving off major Silicon Valley vibes.
Tech titans curb hiring amid tough times
Paris: From eCommerce colossus Amazon to social networking star Facebook, US tech firms that once grew with abandon have reined in hiring to endure tumultuous times.
