RosyJam https://rosyjam.com Fri, 02 Aug 2024 11:42:55 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://rosyjam.com/wp-content/uploads/2024/07/cropped-Gemini_Generated_Image_hwsra5hwsra5hwsr-removebg-preview-32x32.png RosyJam https://rosyjam.com 32 32 Intel to lay off nearly 17,500 workers, suspend dividend in turnaround push https://rosyjam.com/intel-to-lay-off-nearly-17500-workers-suspend-dividend-in-turnaround-push/?utm_source=rss&utm_medium=rss&utm_campaign=intel-to-lay-off-nearly-17500-workers-suspend-dividend-in-turnaround-push https://rosyjam.com/intel-to-lay-off-nearly-17500-workers-suspend-dividend-in-turnaround-push/#respond Fri, 02 Aug 2024 11:42:54 +0000 https://rosyjam.com/?p=2205 Intel said on Thursday it would cut more than 15 per cent of its workforce, some 17,500 people, and suspend its dividend starting in the fourth quarter as the chipmaker pursues a turnaround focused on its money-losing manufacturing business.

It also forecast third-quarter revenue below market estimates, grappling with a pullback in spending on traditional data center semiconductors and a focus on AI chips, where it lags rivals.

The results did not rock the broader chip industry.

AI powerhouse Nvidia and smaller rival AMD ticked up after hours, underscoring how well-positioned they were to take advantage of the AI boom, and Intel’s relative disadvantage.

“I need less people at headquarters, more people in the field, supporting customers,” CEO Pat Gelsinger told Reuters in an interview, talking about the job cuts. On the dividend suspension, he said: “Our objective is to … pay a competitive dividend over time, but right now, focusing on the balance sheet, deleveraging.”

Intel is in the middle of a turnaround plan, focused on developing advanced AI processors and building-out its for-hire manufacturing capabilities, as it aims to recoup the technological edge it lost to Taiwan’s TSMC, the world’s largest contract chipmaker.

The push to energise that contracting foundry business under Gelsinger has increased Intel’s costs and pressured profit margins. More recently, the chipmaker has said it will cut costs.

On Thursday, Intel announced it would cut operating expenses and reduce capital expenditure by more than $10 billion in 2025, more than it initially planned.

“A $10 billion cost reduction plan shows that management is willing to take strong and drastic measures to right the ship and fix problems. But we are all asking, ‘is it enough’ and is it a bit of a late reaction considering that CEO Gelsinger has been at the helm for over three years?” said Michael Schulman, chief investment officer of Running Point Capital.

The company had cash and cash equivalents of $11.29 billion, and total current liabilities of about $32 billion, as of June 29.

Intel’s lagging position in the market for AI chips has sent its shares down more than 40 per cent so far this year.

For the third quarter, Intel expects revenue of $12.5 billion to $13.5 billion, compared with analysts’ average estimate of $14.35 billion, LSEG data showed. It forecast adjusted gross margin of 38 per cent, well short of market expectations of 45.7 per cent.

Cutting capex 

Analysts believe Intel’s plan to turn around the foundry business will take years to materialise and expect TSMC to maintain its lead in the coming years, even as Intel has ramped up production of AI chips for personal computers.

]]> https://rosyjam.com/intel-to-lay-off-nearly-17500-workers-suspend-dividend-in-turnaround-push/feed/ 0 Biden says killing of Hamas leader Haniyeh not helpful for ceasefire talks https://rosyjam.com/biden-says-killing-of-hamas-leader-haniyeh-not-helpful-for-ceasefire-talks/?utm_source=rss&utm_medium=rss&utm_campaign=biden-says-killing-of-hamas-leader-haniyeh-not-helpful-for-ceasefire-talks https://rosyjam.com/biden-says-killing-of-hamas-leader-haniyeh-not-helpful-for-ceasefire-talks/#respond Fri, 02 Aug 2024 10:53:34 +0000 https://rosyjam.com/?p=2197 WASHINGTON, Aug 1 (Reuters) – U.S. President Joe Biden said on Thursday the killing of Palestinian Islamist group Hamas’ leader Ismail Haniyeh was not helpful for reaching a ceasefire in Israel’s war in Gaza.

There has been an increased risk of an escalation into a broader Middle East war after the assassination of Haniyeh in Iran drew threats of retaliation against Israel.

Hamas and Iran’s Revolutionary Guards confirmed the death of Haniyeh, who had participated in internationally-brokered indirect talks on reaching a ceasefire in Gaza.

Anxious residents in Israeli-besieged Gaza feared that Haniyeh’s killing on Wednesday would prolong the war.

Iran said the killing took place hours after he attended a swearing-in ceremony for its new president.

“It doesn’t help,” Biden told reporters late on Thursday, when asked if Haniyeh’s assassination ruined the chances for a ceasefire agreement.

Biden also said he had a direct conversation with Israeli Prime Minister Benjamin Netanyahu earlier on Thursday.

Netanyahu’s government has issued no claim of responsibility but he has said Israel had delivered crushing blows to Iran’s proxies of late, including Hamas and Lebanon-based Hezbollah, and would respond forcefully to any attack.

Israel’s tensions with Iran and Hezbollah have fanned fears of a widened conflict in a region already on edge amid Israel’s assault on Gaza which has killed tens of thousands and caused a humanitarian crisis.

]]> https://rosyjam.com/biden-says-killing-of-hamas-leader-haniyeh-not-helpful-for-ceasefire-talks/feed/ 0 Why protest by ethnic Baloch has put Pakistan’s key port of Gwadar on edge https://rosyjam.com/why-protest-by-ethnic-baloch-has-put-pakistans-key-port-of-gwadar-on-edge/?utm_source=rss&utm_medium=rss&utm_campaign=why-protest-by-ethnic-baloch-has-put-pakistans-key-port-of-gwadar-on-edge https://rosyjam.com/why-protest-by-ethnic-baloch-has-put-pakistans-key-port-of-gwadar-on-edge/#respond Fri, 02 Aug 2024 10:13:50 +0000 https://rosyjam.com/?p=2190 Islamabad, Pakistan — Tensions are high in Pakistan’s port city of Gwadar in the southwestern Balochistan province where an ethnic Baloch group has been protesting for days, following the arrests of some of their members and deadly clashes with security forces.

Gwadar is Pakistan’s only deep-sea port on the Arabian Sea, and is a key route of the $60bn China-Pakistan Economic Corridor (CPEC).

The latest tensions in the port city began on Friday after the Baloch Yakjehti Committee (BYC) gave a call to demonstrate against alleged human rights violations, enforced disappearances and extrajudicial killings of people in Balochistan, Pakistan’s largest and poorest province.

Home to approximately 15 million of Pakistan’s estimated 240 million people, according to the 2023 census, Balochistan is rich in natural resources, including oil, coal, gold, copper, and gas reserves, which generate substantial revenue for the federal government.

The ethnic Baloch allege that the Pakistani state has neglected their community and exploited the province’s mineral resources. The anger fuelled separatist sentiments, with the province witnessing at least five rebellion movements since the formation of Pakistan in 1947.

The latest wave of rebellion began in the early 2000s to demand a larger share of the province’s resources and even calls for complete independence. The Pakistani security forces have since launched a severe crackdown on the rebellion, killing thousands of people in the last two decades.

Gwadar, due to its economic prominence, has been a hotbed of violence by armed and separatist groups, the latest being in March this year, when eight men tried to enter the Gwadar Port Authority complex before they were killed by security officials.

]]> https://rosyjam.com/why-protest-by-ethnic-baloch-has-put-pakistans-key-port-of-gwadar-on-edge/feed/ 0 New Blog https://rosyjam.com/new-blog/?utm_source=rss&utm_medium=rss&utm_campaign=new-blog https://rosyjam.com/new-blog/#respond Sat, 27 Jul 2024 06:12:47 +0000 https://rosyjam.com/?p=2159 A quick brown fox jumps over the lazy dog

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]]> https://rosyjam.com/hello-world/feed/ 0 King’s Speech charts out new UK government’s priorities https://rosyjam.com/we-believe-apple-announce-at-the-iphone-11-on-this-day/?utm_source=rss&utm_medium=rss&utm_campaign=we-believe-apple-announce-at-the-iphone-11-on-this-day https://rosyjam.com/we-believe-apple-announce-at-the-iphone-11-on-this-day/#respond Tue, 16 Jul 2024 14:52:45 +0000 https://itcroctheme.com/wp/demos/themes/benqu/the-best-coworking-space-for-technical-developers-copy/ Britain’s King Charles has set out Prime Minister Keir Starmer’s legislative agenda, promising a government of service focused on reviving the economy and tackling issues from an acute housing shortage to a cost-of-living crisis.

In a ceremony full of pageantry, before an audience of robed lords and lawmakers, Charles read out the laws the government is prioritising after Starmer’s centre-left Labour Party won a large majority at this month’s election.

What did the speech say?

The government said it would “get Britain building”, setting up a National Wealth Fund and rewriting planning rules that stop new homes and infrastructure from being built.

Economic measures included tighter rules governing corporations and a law to ensure all government budgets get advanced independent scrutiny. The government promised stronger protections for workers, with a ban on some “zero-hours” contracts and a higher minimum wage for many employees.

Also announced were protections for renters against shoddy housing, sudden eviction and landlords who won’t let them have a pet.

Regarding the UK’s border security, the speech charted out new measures including creating a beefed-up Border Security Command with “counterterrorism” powers to tackle people-smuggling gangs.

The urgency of the global climate challenge was also recognised in the speech – a change in tone from the Conservative government’s emphasis on oil and gas exploration.

Moreover, the speech confirmed that the government wants to “reset the relationship with European partners” roiled by Britain’s exit from the European Union in 2020 and said there would be no change to Britain’s strong support for Ukraine.

It is a goal Starmer can work towards when he hosts a meeting of the European Political Community, a group of more than 40 states formed in 2022 after Russia’s full-scale invasion of Ukraine on Thursday.

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]]> https://rosyjam.com/we-believe-apple-announce-at-the-iphone-11-on-this-day/feed/ 0 What’s behind Bangladesh’s violent quota protests? https://rosyjam.com/we-believe-announce-will-the-iphone-this-day-3/?utm_source=rss&utm_medium=rss&utm_campaign=we-believe-announce-will-the-iphone-this-day-3 https://rosyjam.com/we-believe-announce-will-the-iphone-this-day-3/#respond Mon, 29 Aug 2022 16:28:51 +0000 https://itcroctheme.com/wp/demos/themes/benqu/assassins-creed-clip-swiss-as-state-secretart-for-copy/ The two-week-long anti-quota protests in Bangladesh have turned violent after groups linked to the ruling party attacked student protesters in the capital, Dhaka.

More than 400 people were injured on Monday and Tuesday during attacks on protesters who are against the government job quota system amid rising unemployment in the South Asian nation.

The protests began on July 1 after the High Court reinstated the job quota that reserves one-third of civil service posts for children of fighters who participated in the country’s liberation movement in 1971.

So what triggered the current protests and why is the quota system facing opposition?

Who is protesting against job quotas in Bangladesh?

Students from government and private universities across Bangladesh are demanding reform in the conventional job quota system, under which more than half of much sought-after government jobs are reserved.

The protesters said they are not aligned with any political group and they want a merit-based system that is fair to all.

Fahim Faruki, a protester and third-year international relations student at Dhaka University, said the students organised the protests through a Facebook group and were not backed by any political organisation.

The protest movement has come to be known as the Students Against Discrimination movement. Thousands of students from Dhaka University in the capital as well as Chittagong University have staged sit-ins against the quota system.

What triggered the recent protests?

On June 5, the High Court ordered the reinstatement of the 30 percent quota for children of freedom fighters, deeming the 2018 abolition of quotas illegal. Prime Minister Sheikh Hasina of the Awami League had abolished the quota system after massive protests.

What is the quota system in Bangladesh?

In 1972, the country’s founding father, Sheikh Mujibur Rehman, introduced a quota system, reserving a percentage of government jobs for children and grandchildren of people who fought in the 1971 war of independence from Pakistan.

What do the anti-quota protesters want?

  • 30 percent for the children and grandchildren of freedom fighters
  • 10 percent for women
  • 10 percent “zila quota” for “backward” districts
  • 5 percent for ethnic minorities
  • 1 percent for people with physical disabilities
  • Under the system, 44 percent of first- and second-class government jobs are “merit” based.

On Thursday, student protesters from the public Comilla University, southeast of Dhaka, clashed with police, who opened fire, local media reported. Twenty people, including students and three policemen, were injured as a result, local media reported.

Ruling party leaders and ministers have tried to paint the protesters as anti-nationals and against the government after Hasina, who has been in power since 2009, referred to them as “Razakars”.

In Bangladesh, Razakar is an offensive term that refers to those who betrayed Bangladesh in the 1971 war by collaborating with Pakistan.

“Why do they have so much resentment towards freedom fighters? If the grandchildren of the freedom fighters don’t get quota benefits, should the grandchildren of Razakars get the benefit?” she asked at a news conference on Sunday.

In response, protesters chanted the slogan, “Who are you? Who am I? Razakar, Razakar,” during a protest at Dhaka University.

`

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]]> https://rosyjam.com/monster-jam-titans-success-farms-their-efforts/feed/ 0 Emirates Palace Spends that a Hefty Sum For… https://rosyjam.com/emirates-palace-spends-that-a-hefty-sum-for/?utm_source=rss&utm_medium=rss&utm_campaign=emirates-palace-spends-that-a-hefty-sum-for https://rosyjam.com/emirates-palace-spends-that-a-hefty-sum-for/#respond Mon, 29 Aug 2022 16:25:01 +0000 https://itcroctheme.com/wp/demos/themes/benqu/zombie-attack-face-continued-swiss-state-copy/ Grursus mal suada faci lisis Lorem ipsum dolarorit ametion consectetur elit. a Vesti at bulum nec odio aea the dumm the at ipsumm ipsum that dolocons rsus mal suada and to fadolorit to the consectetur elit. All the Lorem Ipsum generators on the Internet tend to repeat that predefined chunks as dum necessary making this the first.

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  • Struggling to sell one multi-million dollar home currently on the market
  • Lopez has reportedly added to her real estate holdings an eight-plus acre
  • The property, complete with a 30-seat screening room, a 100-seat amphit
  • Lo managed to make it hers for $28 million. As the Bronx native acquires
  • Lopez has reportedly added to her real estate holdings an eight-plus acre

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