The initiative comes as a number of CEOs have taken a concerned tone about the economy as Meta CEO Mark Zuckerburg emphasized the impact the economic downturn is having on the company’s ad business, an industry where Google is a chief player.Ĭhinese factory activity shrank in July due to a sluggish global economy and disruptions from COVID-19. The “Simplicity Sprint” effort was presented as a solution to remedy what the company’s CEO says is a lack of productivity following lower-than-expected earnings and ahead of an expected tougher economy. ![]() Google announced a new initiative eliciting feedback from employees on where to focus on efficiency improvements. While earnings reported by retailers such as Walmart painted a gloomy picture for predictions of consumer spending power, reports from American Express suggested spending has shifted to other areas rather than dropped altogether. Consumer confidence in the economy has lowered despite increased spending on services and traveling, with the news coming as consumers spent more in June even as inflation has accelerated in recent months. ![]() consumer spending power has weakened after weathering challenges posed by the COVID-19 pandemic. Household spending has grown increasingly strained, suggesting U.S.
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