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How an AI granny is combating phone scams
  + stars: | 2024-11-26 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +3 min
That’s because Daisy is a conversational artificial intelligence chatbot created by British mobile phone company O2 to help combat fraud by tricking phone scammers into thinking they are speaking to a real person. Her debut earlier this month highlights how AI is being used both positively and negatively when it comes to online scams. According to the Global Anti-Scam Alliance, a lobby group, consumers worldwide lost more than $1 trillion to online scams last year. Last year, Virgin Media O2, the wider telecommunications group, blocked more than £250 million ($315 million) in suspected fraudulent transactions, which they say is equivalent to stopping one every two minutes. Video Ad Feedback Click to watch Daisy, an "AI granny," in action against scammers.
Persons: you’ll, Daisy, Daisy’s, , Murray Mackenzie, , granny, scammer, “ It’s, I’m Organizations: London CNN —, O2, Global, FBI, Virgin Media O2, scammers, CNN Locations: British, London
CNN —Israel and Lebanon have accepted a US-backed proposal to end the 13-month border conflict that spiraled into an all-out war in September with Hezbollah. What the deal entailsThe deal stipulates a 60-day cessation of hostilities, which negotiators have described as the foundation of a lasting truce. On September 27, Israel killed Hezbollah’s long-time leader Nasrallah in a massive attack in the southern suburbs of Beirut, upending the truce talks. Since October 2023, Hezbollah’s attacks on Israel have killed 47 Israeli civilians and 31 security forces in Israel. Palestinians in Gaza are unlikely to find respite if a Lebanon deal is signed, according to a regional analyst.
Persons: CNN —, Joe Biden, Biden, Emmanuel Macron, Isaac Herzog, , , ” Herzog, Israel, Chris McGrath, Hassan Nasrallah, Hezbollah’s, Nasrallah, Ahmad Al, ” Hellyer, Bashar Taleb Organizations: CNN, UN, United Nations, Lebanese, Royal United Services Institute, Getty, US, United Locations: CNN — Israel, Lebanon, Israel, France, Iran, overflights, Lebanese, Aadaysit, Gaza, Beirut, upending, , London, Deir el, Balah, United States
President-elect Donald Trump's vow to implement additional tariffs on China, Canada and Mexico on day one of his presidency signals the start of a wild ride in currency markets, strategists say, warning it would be risky for investors to underestimate the impact on foreign exchange rates. The announcements prompted a knee-jerk reaction in currency markets, with the U.S. dollar rising more than 2% against the Mexican peso and notching a four-year high against the Canadian dollar . "I think the first reaction here is that investors should get ready for a wild ride in FX volatility," said Kamakshya Trivedi, head of global foreign exchange, interest rates and emerging markets strategy research at Goldman Sachs . The index closed 0.6% lower in the previous session as investors welcomed hedge fund manager Scott Bessent as Trump's pick for U.S. Treasury chief. "This is going to be something that we are all going to have to get used to.
Persons: Donald Trump's, Trump, Kamakshya Trivedi, Goldman Sachs, Scott Bessent, Trivedi, CNBC's Organizations: U.S, Canadian, Goldman, The U.S, Treasury Locations: China, Canada, Mexico
However, he said it was ultimately up to the state to approve the plans, which have been highly controversial for decades. So if we want to go beyond a certain number at Heathrow, whether that is 90 million passengers or anything around that, we need a third runway, that's not a discussion," Woldbye said. 'We' here is not just Heathrow, that's the airlines, it's government, it's parliament, it's everybody around us. But transportation strategy is a government issue," Woldbye said, acknowledging it was "not an easy decision." I'm serious about getting a decision and about getting the right decision," which would be one guided by overall U.K. strategy, he said.
Persons: Thomas Woldbye, Woldbye, Louise Haigh Organizations: Airlines, Heathrow, Labour, Transport Locations: London
Emma Corrin first encountered Maggie Nelson’s work three summers ago, when the actor was in Brighton, England, filming 2022’s “My Policeman,” a British drama about postwar sexual repression. At the time, Corrin, now 28, was grappling with their gender identity, and a friend recommended “The Argonauts” (2015), Nelson’s memoir about queer desire and making a family with her partner, the artist Harry Dodge. For Corrin, who recently wrote a screenplay with a friend, Nelson’s work remains a touchstone. Earlier this year, Corrin saw the playwright Margaret Perry’s adaptation of “Bluets,” starring Emma D’Arcy, Kayla Meikle and Ben Whishaw, in London. It was the first time that Nelson’s work had been performed onstage.
Persons: Emma Corrin, Maggie Nelson’s, , Harry Dodge, Nelson, Eileen Myles, ” Nelson, who’s, “ Bluets ”, Diana, , Corrin, Robert Eggers’s, Zal Batmanglij, Margaret Perry’s, Emma D’Arcy, Kayla Meikle, Ben Whishaw Organizations: Argonauts, City University of New, The Argonauts, University of Cambridge Locations: Brighton , England, Northern California, New York, City University of New York, Los Angeles, London, “ Orlando, ” Virginia
A senior Russian commander who was responsible for troops fighting in eastern Ukraine has been removed from his position, according to reports from several Kremlin-aligned news outlets. Anashkin’s appointment as commander of the army's Southern Group had never been officially announced by the ministry. The Russian news outlet RBC reported that Anashkin was dismissed as part of a “planned rotation,” citing anonymous sources within the Defense Ministry on Saturday. However, Rybar, a popular Telegram channel close to the ministry, reported that Anashkin was “removed from his post for false reports in the Seversk direction,” using the Russian version of the region's name. Russian forces fire a Howitzer toward Ukrainian positions during a mission in the Kursk region Sept. 9.
Persons: Gen, Gennady Anashkin's, Vladimir Putin, Anashkin, , ” Rybar, , Oleksandr Syrskyi, Sergey Bobylev, Biden Organizations: Russian Defense Ministry, army's Southern Group, RBC, Defense Ministry, Russian, NBC News, U.S . Treasury Department, Kremlin, Sputnik, AP Putin, Kyiv Locations: Russian, Ukraine, Siversk, Ukraine's, Donetsk, Rostec, United States, Russia, Russia's Kursk, Kursk, Moscow, U.S, American
International bestselling author Barbara Taylor Bradford died peacefully at her home on Thursday at age 91, her publishing house confirmed. More than 91 million copies of her books have been sold to date, published in more than 40 languages and in 90 countries, according to HarperCollins UK. Bradford started writing at just 7 years old and sold her first short story to a magazine at age 10, HarperCollins UK said. She met and fell in love with her husband, Hollywood film and television producer Robert Bradford, in 1961. Bradford will be buried alongside her beloved husband Robert at Westchester Hills Cemetery, New York after a private funeral, HarperCollins UK confirmed.
Persons: Barbara Taylor Bradford, Charlie Redmayne, , Bradford, Barbara, Lynne Drew, Barbara’s, Robert Bradford, Robert, Jenny Seagrove, Liam Neeson, Seagrove, Queen, Jennifer Enderlin Organizations: HarperCollins, Facebook, New York Times, Yorkshire Evening, National Literacy Trust, of Literacy Partners, HarperCollins UK, HM, St, Martin’s Press, Westchester Hills Locations: Leeds, Yorkshire, London, New York, Bradford, U.S, Buckingham, Westchester, Westchester Hills Cemetery , New York
LONDON — He’s branded one U.S. ally's government “fascists” and another leader a “fool.” Now, Elon Musk has labeled Britain a “tyrannical police state” while endorsing calls for a new election and boosting a video from a jailed far-right activist. "The people of Britain have had enough of a tyrannical police state," Musk posted on his X platform, quoting a post about an online petition calling for another election that has now reached 2 million signatures. As Starmer's government works to overcome its own past public comments and build relations with Trump, Musk continues to attack it. Musk, who is known for picking fights online and retweeting far-right posts, also shared a post Saturday by Robinson — the jailed far-right activist and founder of the anti-immigrant English Defence League. Britain is not the only U.S. ally Musk has assailed publicly in recent weeks.
Persons: , Elon Musk, Musk, Donald Trump, Keir Starmer, Tommy Robinson, Taylor Swift, Stalin, Joseph Stalin, Robinson —, Robinson, Mark Kerrison, Starmer, Australia's, Olaf Scholz Organizations: Labour Party, Trump, NBC News, English Defence, Getty, Elon, Politico Locations: Britain, Soviet, British, London
But it doesn’t have to, just ask the world’s flight attendants. “It’s important for flight attendants to know who is sitting in what seats,” she says. And during those quieter moments, he says flight attendants “honestly love to talk to passengers.”We love when people come back and talk to us. Liz SimmonsFor flight attendants, interacting with the occasional famous face is just part of the job. While gifts are thoughtful, flight attendants don’t expect them, and especially not extravagant ones.
Persons: anyone’s, Hunter Smith, Lihas, Liz Simmons, you’ve, Elijah Nouvelage, Smith, , , you’re, Kamil Krzaczynski, Simmons, Mike Blake, FlightRadar, “ It’s, you've, Joshua Lott, don’t, Kent Nishimura, “ I’m, who’s, they’ve, it’s, — Simmons, ” Smith, there’s, — isn’t, ” Simmons, “ It’ll, Alexander Spatari, ” I’ve, who’ve, lister, I’ve, she’s, everyone’s, Liz Simmons “, ’ Simmons, Kevin Lamarque, “ I’ve, They’re Organizations: CNN, Reuters, Getty, Facebook, Los Angeles Times, Netflix, Hallmark, Hollywood, , Disney Locations: Florida, AFP, earshot, Greece, You’re, London, New York,
PESHAWAR, Pakistan — The capital of Pakistan was locked down Monday as supporters of jailed former leader Imran Khan marched on the city to demand his release. It is the latest upheaval to hit this nuclear-armed United States ally after days of deadly clashes between rival sectarian groups. Supporters of Imran Khan during a rally in Swabi on Sunday. “We will not return till our leader Imran Khan is released from prison,” senior PTI politician Shaukat Ali Yousafzai told NBC News, adding that police had been using tear gas, causing injuries to some PTI supporters. Aamir Qureshi / AFP - Getty ImagesSupporters of Khan also gathered to demand his release in Swabi, northwestern Pakistan on Sunday.
Persons: Imran Khan, Khan, That’s, Abdul Majeed, Khan’s, Bushra Bibi, , Shaukat Ali Yousafzai, Maryam Nawaz Sharif, Uzma Bukhari, Alexander Lukashenko, Pakistan's, Aamir Qureshi, Jamal Khan, Mohammad Ali Saif, ” Saif Organizations: Getty, PTI, NBC News, AFP, Associated Press Locations: PESHAWAR, Pakistan, United States, Islamabad, Swabi, Punjab, Peshawar
The Service Employees International Union (SEIU) announced the start of industrial action on Monday and said it planned to put an "end to poverty wages" and demand "respect on the job during the holiday travel season." The striking workers are ABM and Prospect Airport Services employees, whose tasks include cleaning inside planes and assisting passengers in wheelchairs. "This will be the busiest Thanksgiving ever in terms of air travel,” TSA Administrator David Pekoske said on X. Travelers at O'Hare International Airport in Chicago on Nov. 22, 2024. On Monday and Tuesday, the Rockies and Cascades could face high winds and snow, making travel difficult in mountain areas.
Persons: didn't, Charlotte Douglas, David Pekoske, Kamil Krzaczynski, Michelle Grossman Organizations: North Carolina's Charlotte Douglas International, Service Employees International Union, SEIU, Prospect Airport Services, Los Angeles International, Orlando, International, Getty, Rockies, Eastern Seaboard Locations: North Carolina's, United States, West Coast, Chicago, AFP, New England, Minnesota
I’m no different than them.”Beyond “Jailhouse to Milhouse,” Hayden said she has also co-written the book and lyrics to a musical she has been developing. And I think that’s great. Everything’s coming up Pamela!”As Milhouse, Hayden marveled at what she’s been asked to voice over the years, such as singing the French National Anthem as a six year old boy. And in person, the “Simpsons” stars and producers traveled to Europe together to do live shows in London and in Edinburgh, and perform at comedy festivals in Aspen and Montreal. “The Simpsons” producers plan to audition a new actor to pick up Milhouse and Hayden’s other roles.
Persons: Everything’s, Milhouse, Pamela Hayden, Hayden, they’ve, ” Hayden, Variety, , Jimbo Jones, Rod Flanders, Wiggum’s, Sarah, Lisa’s, Janey Powell, “ It’s, “ Hey Arnold, Pinky, I’m, , “ Everything’s, Prince, ” Milhouse, Bart, Matt Groening, “ Pamela, James L Brooks, Matt Selman, Pamela, Hayden marveled, she’s, Meryl Streep, Keith, Mick weren’t, it’s, “ I’ll Organizations: Sunday Locations: New York, Springfield, Europe, London, Edinburgh, Aspen, Montreal
A DHL cargo plane crashed into a house in the Lithuanian capital, Vilnius, killing one person on board and injuring three passengers, authorities in the Baltic nation said Monday. "According to preliminary data, a cargo aircraft carrying 4 people crashed near the Vilnius International airport at 5.30 AM local time. The Department of Fire Protection and Rescue said in a statement: "It turned out that a cargo plane had crashed and a residential house caught fire. Plane wreckage lies in the courtyard of a house near Vilnius International Airport in Lithuania on Monday. Vilnius Airport confirmed the crash in a statement and said special services and rescue teams were working at the scene.
Persons: Petras Malukas, , Dmitry Peskov Organizations: DHL, Vilnius International, NBC News, Department of Fire, Vilnius International Airport, Getty, Crisis Management Center, Reuters, Police, Republic Vilnius University Hospital, Lithuanian, Vilnius Airport, Locations: Lithuanian, Vilnius, Baltic, Leipzig, Lithuania, AFP, Germany, United Kingdom, America, Birmingham, England, Poland, United States, Canada
CNN —Israel’s cabinet unanimously voted to sanction the nation’s oldest newspaper, Haaretz, on Sunday citing its critical coverage of the war following the October 7 Hamas attacks and comments by the outlet’s publisher calling for sanctions on senior government officials. The proposal, put forward by communications minister Shlomo Kar’i, will end government advertising in the newspaper and cancel all subscriptions for state employees and employees of state-owned companies. It dismisses the costs of both sides for defending the settlements while fighting the Palestinian freedom fighters that Israel calls terrorists,” he reportedly said. Following widespread criticism of the comments in Israel, Schocken clarified his comments saying that he did not believe Hamas militants were freedom fighters. Haaretz slammed the move in a statement on Sunday, calling it “another step in Netanyahu’s journey to dismantle Israeli democracy.”“Like his friends Putin, Erdoğan, and Orbán, Netanyahu is trying to silence a critical, independent newspaper,” the statement said.
Persons: CNN — Israel’s, Shlomo Kar’i, Kar’i, , ” Amos Schocken, Netanyahu, , Schocken, Putin, Orbán, Al, CPJ Organizations: CNN, Israel Defense Forces, Haaretz, West Bank, , Israel, United Nations, Protect Journalists Locations: Gaza, Lebanon, State, Israel, London, Palestinian, , of Israel, Ramallah
“The dismal outcomes of COP29 … have raised serious concerns about the integrity of the global climate negotiation process,” said Harjeet Singh, of the Fossil Fuel Treaty Initiative. Fossil fuel interests unleashedCOP climate summits are always painstaking and fraught. More than 1,700 fossil fuel industry players and lobbyists registered to attend the summit, heavily outnumbering most country delegations. Climate groups compared the final deal to a band-aid on a bullet wound, and developing countries reacted with fury. Billed as the most important climate summit since Paris, it’s here countries will set out their climate plans for the next 10 years.
Persons: Ilham Aliyev, Rich, , Harjeet Singh, Payam Akhavan, COP29, Mukhtar Babayev, Maxim Shemetov, Donald Trump, , Margaretha Wewerinke, Singh, Akhavan, populists, Friederike Otto, ” CNN’s Ella Nilsen Organizations: CNN, United Nations, Union, COP29 United, Change, Imperial College London, Putin, Co Locations: Baku, Azerbaijan, COP29, US, Paris, Small, States, Russia, Argentina, petrostates, Saudi Arabia, Vanuatu, COP30, Brazil, it’s, petro
San Francisco's Mayor-elect Daniel Lurie has begun tapping tech heavyweights and business leaders to help with his goal of overhauling the city's image. "He wants to put down roots here in San Francisco. The city can't have all its eggs in one basket and needs to expand into other business sectors as well, Lurie said. "We will go recruit companies from all sectors to come back to San Francisco," Lurie said. A fully-staffed police department and 911 dispatch office will be necessary to help bring businesses and workers back to the city, Lurie said.
Persons: Daniel Lurie, Sam Altman, Ned Segal, Lurie, Levi Strauss, I've Organizations: Francisco's Mayor, London, CNBC Locations: San Francisco, Francisco
Avignon, France CNN —Dominique Pelicot, the man who organized for more than 50 men to rape his unconscious wife, is “fully responsible” for his actions, a French public prosecutor told court after requesting the maximum prison sentence of 20 years. Dominique Pelicot fits this bill. Over a period spanning nearly 10 years, Dominique Pelicot used an online website and messaging platforms to seek out men from a radius spanning roughly 25 miles (40 kilometers). Pelicot has admitted to habitually drugging his wife with a strong sedative before allowing strangers to sexually abuse her. Dominique Pelicot kept his eyes closed and looked down at the ground during the hearing.
Persons: France CNN — Dominique Pelicot, Laure Chabaud, Dominique Pelicot, ” Chabaud, , Gisele Pelicot, Sarah Meyssonnier, Reuters Pelicot, Pelicot, Beatrice Zavarro, Saskya Vandoorne, Niamh Kennedy Organizations: France CNN, Reuters Locations: Avignon, France, French, Mazan, London
CNN —At least five people have died as Storm Bert swept across the United Kingdom, causing power outages and widespread train and flight cancelations. Further north, a 34-year-old man died in a single-vehicle collision in the early hours of Saturday, West Yorkshire Police said. There have been 53 heavy rainfall reports across the UK, according to the European Severe Weather Database. More than 60 flood warnings and alerts were reported in Wales alone for the past day, according to Natural Resources Wales. The cold front associated with Storm Bert will impact parts of western Europe, where orange warnings for high winds are in place for parts of Germany and France.
Persons: Storm Bert, Matthew Horwood, Keir Starmer Organizations: CNN, West Yorkshire Police, Getty, Media, North Wales Police, Lancashire, PA Media, UK Meteorological Office, Met, London Heathrow Airport, Western Railway, Northern Rail, Southern Electricity Networks, Natural Resources, Locations: United Kingdom, Wales, Britain, Winchester, Northamptonshire, Pontypridd , Wales, floodwater, England, Northern Ireland, Scotland, London, Sion, Swansea, Exeter, Okehampton, Barnstaple, Lancaster, York, Sheffield, Natural Resources Wales, Europe, Germany, France
UNFCCC Executive Secretary Simon Stiell speaks in the early hours at the conclusion of the UNFCCC COP29 Climate Conference on November 24, 2024 in Baku, Azerbaijan. Ambitious climate action often requires ambitious financing — be it a clean energy transition project or helping developing countries mitigate the effects of natural disasters. Nearly 50,000 people from 200 countries — including, for the first time, the Taliban rulers of Afghanistan — were in Azerbaijan for this year's United Nations Climate Change Conference, with the goal of reaching a critical deal on climate finance. Some of the highest human costs will be paid by smaller nations that are disproportionately affected by climate change, including Pacific Island nations whose existence is threatened by rising seas. But with COP29 weighed down by geopolitics and domestic turmoil, some were reluctant to attend at all.
Persons: Simon Stiell, Donald Trump, General Ban, Ruth Townend, COP29 Organizations: Conference, Change, World Meteorological Organization, House, Pacific Locations: Baku, Azerbaijan, Afghanistan, United States, Paris, London
There have been at least 20 marriages between couples who met at the club, according to founder Tim Navin-Jones. As the endless scrolling through dating apps has become a feat of endurance, running clubs such as this one have developed a reputation for romance. When you think of running, the idea of romance may be the furthest thing from your mind. While traditional sports clubs are seeing their numbers decline, “informal groups” such as running clubs are seeing their numbers boom, Bekhuis said. For women, safety in numbersA possible romance isn't the only advantage to being part of a running group.
Persons: Tim Navin, Jones, , Mike Saes, “ It’s, , Chloe Thompson, Hidde, Bekhuis, Thompson, Molly Slater, Davison, Slater, Stephen, London Frontrunners, “ there’s, “ I’ve, Wojciech Pankow, Joe, , Phil, it’s, It’s, Saes Organizations: London CNN, London, CNN, Behavioural Science, Radboud University, Cavan, UK’s University of Manchester, CNN’s Locations: Bermondsey, London, Guatemala, Paul’s, New York City, Instagram, Netherlands, Greater Manchester, Merseyside, North West England, York, England
It feels all the more fitting then, that amid today’s geopolitical conflicts, increasing climate catastrophes and economic uncertainties, we’re seemingly hooked on celebrity lookalike contests. But the idea of a lookalike contest is in fact a time-honored form of entertainment. Nine girls in a Fox Films and Daily Telegraph Shirley Temple lookalike contest in Sydney, Australia, October 1934. For the last 40 years, a bar in Key West, Florida has been staging an annual Ernest Hemmingway lookalike competition. Humanity isn’t fixed.”Oscar Journeaux won the Harry Styles lookalike competition on November 9 in London.
Persons: Timothée Chalamet, jostle, YouTuber Anthony Po, Oscar, ” Reed Putman, , Paul Mescal, Harry Styles lookalikes, Matthew Chattle, Max Braunstein, Glen Powell, Mikala Compton, Harry Styles, Dev Patel’s doppelgänger, Zayn Malik’s, Jeremy Allen White, White, Carmy, , White’s, Daily Telegraph Shirley Temple, Charlie Chaplin, Dolly Parton, Shirley Temple, femme, Myrna Loy, Alice Faye, Katharine Hepburn, Ernest Hemmingway, Ellis Cashmore, , Oscar Journeaux, Leon Neal, Angie Huntley, Jim Wilkes, Cashmore, ” Andy Harmer, David Beckham, Lookalikes, it’s, ” Harmer, Beckham, Victoria Beckham, Andy Harmer, Camilla Shadbolt, David, Fiona Hanson, Denise Ohnona, Kate Moss, Ohnona, Stephane Cardinale, Corbis, Manel Esteller, Harmer, Vetements, “ She’s, You’re, ” Miles Mitchell, Stefan Jeremiah, lookalikes Organizations: CNN, Washington, , Gaelic Athletic Association, American, Statesman, USA, Marlboro Reds, Fox Films, Daily Telegraph, Mitchell Library, State Library of New, Cleveland Food, Toronto Star, Argentina, University of Barcelona’s School of Medicine, Cell, Paris Fashion Locations: Ireland, London, Austin , Texas, San Francisco, New York, Chicago, “ The, Oakland , California, Sydney, Australia, State Library of New South Wales, Hollywood, Santa Monica, Cleveland, Key West , Florida, British, Toronto, Canada, Victoria, Lancashire
One Churchill Place skyscraper, the Barclays Plc headquarters, at Canary Wharf in London, U.K., on Thursday, Jan. 7, 2021. Britain's financial regulator said on Monday it had fined Barclays 40 million pounds ($50.9 million) in total for its failure to disclose certain arrangements with Qatari entities in 2008. The fine by the Financial Conduct Authority dates back to the height of the 2008-9 financial crisis, when Barclays scrambled to raise funds from overseas investors including Qatar in order to avoid a state bailout. The FCA at the time fined Barclays 50 million pounds, which the bank appealed. The interests of the bank, its shareholders and other stakeholders were best served by the withdrawal, Barclays said, adding that there was no material financial impact from the fine.
Organizations: Barclays Plc, Barclays, Financial Locations: Canary, London, Qatar
Widespread travel disruption took place across Britain on Monday as a result of Storm Bert, which pounded the country with a deluge of rain and fierce winds over the weekend. At least three people were killed in England and Wales amid sweeping floods, landslides, fallen trees, road accidents and power outages. Warnings of strong winds also remained in place in parts of Scotland through Monday, and residents in parts of Wales were told to boil water before using it as the supplier was investigating possible contamination. Hundreds of flights were canceled over the weekend, with many train services suspended and some roads closed. Among the affected train services were the Stansted and Gatwick express lines, which service the London-area airports.
Persons: Storm Bert Organizations: Stansted, Gatwick Locations: Britain, England, Wales, Scotland, London
In today's big story, Trump's trade plans could spell trouble for prices, and preparing for it isn't so easy . AdvertisementThe prevailing theory among many economists is Trump's plan will increase prices and inflation as companies pass the cost of the taxes down to their customers. He told BI he views them more as a negotiation tactic with China and American companies with operations there. Still, some experts told BI they foresee obstacles to making it a reality . Sector experts told BI the massive chipmaker will continue to make its most advanced tech in Taiwan .
Persons: Drew Angerer, Tyler Le, Donald Trump's, Emily Stewart, We're, Philip Daniele didn't sugarcoat, John David Rainey, There's, Dominick Reuter, Emily, Trump, Nobel, Simon Johnson, Brian Cornell, Natalie Ammari Baby boomers, Scott Bessent, George Soros, Bluesky, Rose Wang, It's, Chelsea Jia Feng, Taylor Swift, they'll, crosshairs, Elon Musk, Vivek Ramaswamy's, Biden, Alex Jones, Menendez, Dan DeFrancesco, Grace Lett, Lisa Ryan, Ella Hopkins, Amanda Yen, Jack Sommers, Milan Sehmbi Organizations: Business, Getty, Walmart, Electronics, Target, Social Security, Treasury, Trump, Nvidia, White, Los Locations: China, Phoenix, Taiwan, Florida, Washington, Los Angeles, New York, Chicago, London
London CNN —Thyssenkrupp Steel has announced plans to eliminate 11,000 jobs by the end of this decade — about 40% of its workforce — becoming the latest German industrial giant to opt for drastic action to prop up its fortunes. “Increasingly, (global) overcapacity and the resulting rise in cheap imports, particularly from Asia, are placing a considerable strain on competitiveness,” Thyssenkrupp Steel said in a statement. Thyssenkrupp, Germany’s largest steel producer, joins the country’s biggest manufacturer Volkswagen in setting out a major overhaul to cut costs and bolster competitiveness. The German automaker also plans to close at least three factories in its home country and lay off tens of thousands of staff. “Locational weaknesses” include high energy costs, onerous red tape, and outdated physical and digital infrastructure.
Persons: Steel, carmaker Ford Organizations: London CNN, Thyssenkrupp, European, European Commission, Volkswagen, Federation of German Industries, Boston Consulting Group, German Economic Institute Locations: Asia, Ukraine, German, Europe, Germany, United Kingdom, Thyssenkrupp
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