Economy news · 28 October 2026
SK Hynix Posts First-Ever Quarterly Revenue Above 100 Trillion Won on AI Chip Demand
SK hynix reported third-quarter revenue of 104.62 trillion won ($73.2 billion), crossing the 100 trillion won threshold for the first time, as surging demand for artificial intelligence memory chips pushed the chipmaker to record results.
Microsoft and Alphabet Report Wednesday in Big Tech's Busiest Earnings Week
Microsoft and Alphabet both release quarterly results after the market close on Wednesday, October 28, 2026, with investors focused on Azure's growth rate against a 45% guide and Google Cloud's trajectory as each company's capital expenditure plans climb sharply.
Netherlands Plans to Cut 25,000 Civil Service Jobs in AI-Driven Efficiency Push
The Dutch government announced it will eliminate roughly 25,000 civil service positions — more than 15% of the overall workforce — as part of AI-related savings, with plans for deploying the technology across government still to come.
AI-Generated Fashion Models Threaten Livelihoods as Brands Shut Studios and Cut Costs by 90% or More
Fashion brands led by Zalando are replacing human models with AI-generated imagery, closing photo studios and cutting production costs by 90% or more, while human models face dwindling bookings and contract clauses demanding rights to their likeness for no extra pay.
China Proposes Export Controls on 40 AI, Solar and Biopharma Technologies Amid Trade Tensions
China's commerce ministry has drafted controls on 40 technology categories—spanning AI models, solar cells and gene therapies—that would require exporters to register every shipment, tightening the country's grip on strategic industries.