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Japan’s political parties are promising to raise the minimum wage, a step that may win votes in Sunday’s general election but could squeeze the small and midsize firms that form the backbone of the world’s fourth-largest economy. The wage-hike pledges particularly threaten small businesses, which account for two-thirds of jobs and over half of economic output, as they are already struggling to manage rising costs.
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Alphabet’s Google is developing artificial intelligence technology that takes over a web browser to complete tasks such as research and shopping, The Information reported on Saturday. Google is set to demonstrate the product code-named Project Jarvis as soon as December with the release of its next flagship Gemini large language model, the report added, citing people with direct knowledge of the product.
British business confidence sank to a four-month low in October ahead of the first budget plan from the country’s new government, a survey showed on Monday, echoing other signs of corporate nervousness about possible tax increases. Lloyds Bank’s business barometer — representing the difference between the percentage of firms with positive and negative views — fell by 3 percentage points to +44%.
Volkswagen plans to shut at least three factories in Germany, lay off tens of thousands of staff and shrink its remaining plants in Europe’s biggest economy as it plots a deeper-than-expected overhaul, the company’s works council head said on Monday. Europe’s biggest carmaker has been negotiating for weeks with unions over plans to revamp its business and cut costs, including considering plant closures on home soil for the first time, in a blow to Germany’s industrial prowess.
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