Computer maker HP to cut up to 6,000 jobs by 2028 as it turns to AI

Japan and the United States are reportedly considering the establishment of a public-private partnership to develop a memory chip manufacturing plant. This initiative aims to bolster semiconductor production capabilities amid increasing global demand and supply chain challenges.

Gold prices have stabilized after a nearly 1% increase in the previous session, driven by rising expectations of an interest rate cut by the Federal Reserve. This sentiment reflects a growing belief among traders that the Fed may reduce rates in December, influencing the demand for gold as a safe-haven asset.

A global memory squeeze driven by increasing demand for artificial intelligence (AI) technologies is causing significant rises in the costs associated with upgrading gaming and computer setups. This trend is impacting consumers and businesses alike, as they face higher prices for essential components such as memory and processing units.

Osaka Gas is planning to increase its investments in US gas-fired power plants, driven by the rising demand for reliable energy due to the growth of artificial intelligence and data centers. This strategic move reflects the company's response to evolving market needs and technological advancements.

Initial jobless claims in the US have decreased by 6,000 to 216,000 for the week ending November 22, marking the lowest level since mid-April. This decline in claims indicates a reduction in layoffs and suggests a more stable labor market.

Labour's stance on North Sea oil and gas production remains unclear, as it balances a commitment to halt new drilling licenses while promising to manage existing fields throughout their operational lifespan. This contradiction raises concerns about job security in an industry already facing significant job losses, estimated at 1,000 per month according to Robert Gordon University.

Chancellor Rachel Reeves faced significant chaos leading up to her budget announcement, with the Office for Budget Responsibility's premature release of key measures contributing to market turmoil. This approach, intended to preemptively manage expectations, resulted in a pre-budget shambles that raised questions about her strategy and leadership.

Ed Miliband has confirmed a crackdown on new North Sea oil and gas exploration, as outlined in a recent strategy paper. However, new drilling projects will still be permitted if they are connected to existing fields, reflecting the government's attempt to balance environmental concerns with energy needs.