Daily Businees News Update - January 29, 2024

A Chinese court has ordered China Evergrande, the world's most indebted property developer, to begin liquidation proceedings. This is a major blow to the company and could have significant implications for the Chinese economy.

Western Digital Corporation, a leading provider of storage solutions, reported a wider-than-expected loss for its second quarter. The company is facing a number of challenges, including a decline in demand for hard drives and increased competition from solid-state drives.

 Intel Corporation, the world's largest chipmaker, saw its stock price plunge after the company reported disappointing earnings and gave a weak outlook for the future. Intel is struggling to keep up with rivals in the artificial intelligence (AI) market, and is also facing a slowdown in the PC market.

Streaming giant Netflix has warned investors about the potential risks of generative AI, a type of artificial intelligence that can create realistic text, images, and code. Netflix says that generative AI could be used to create fake content that could damage its brand and reputation.

U.S. inflation continued to moderate in December, according to data released by the Bureau of Labor Statistics. The consumer price index (CPI) rose 0.1% in December, following a 0.2% increase in November. This is the lowest inflation rate since December 2021.

These are just a few of the many business news stories that are making headlines today. I hope this helps to keep you informed about what is happening in the world of business.