Roundup – Britain’s digital currency plans dwindle and tech hires nosedive in India
Britain warns of delay to a digital pound
Britain has come under pressure by the European Central Bank to design a digital pound and stay ahead of advances in financial technology. The finance minister is set to launch a public consultation on the attributes of a digital pound in the coming weeks, yet Britain’s financial services minister Andrew Griffith warned that the launch of such technology may not go ahead just yet.
“A digital pound raised many public issues,” Griffith said. “We have got to get them right. I would rather be right than be first,” he added. “It will be a long lead-time activity.”
US FAA calls for 5G safeguards on aircrafts by 2024
Passenger and cargo aircraft may be required to have 5G C-Band-tolerant radio altimeters or install approved filters by February 2024. The decision by the Federal Aviation Administration (FAA) was prompted after concerns arose that 5G service may interfere with airplane altimeters which are crucial for rough-weather landing. The proposed safeguard is not too dissimilar to the one that took effect in December last year, prohibiting passenger and cargo flight operations in the vicinity of 5G C-Band wireless transmitters unless the FAA directly approved them. The FAA is also having discussions over revising airplane flight manuals to prohibit low-visibility landings unless retrofits have been completed.
Hiring in tech companies plummets in India
India is experiencing a slump in technology job adverts as the biggest tech companies such as Google, Facebook, Apple, Microsoft, Amazon and Netflix slash staff on a global scale. The total job postings by all six Big Tech companies is currently down 95% to just 2,000 in the country, and this is expected to fall even lower – a declining trend that has been happening for some months.
Among top tech companies, Twitter, Meta, Netflix have collectively announced planned layoffs of 15,150 workers. Others such as Tesla, Google, and Microsoft are also expected to announce job cuts.
Apple to replace Broadcom and Qualcomm chips by 2025
Apple has been working hard to minimise its dependence on other chipmakers in recent years. The US tech giant initially planned to replace the chips as soon as this year but delays in the development process have extended the deadline. The break-away may cause disruptions to both manufacturers, especially since Apple is said to be Broadcom’s largest client. Broadcom said is well aware of its dependence on Apple, yet assured that this would “not last forever”. In the case of Qualcomm, Apple’s transition away for the company will be over a three-year period.
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