Nvidia stock has gained 3,776% since the start of 2019, minting many new multimillionaires in the process.

But the work hours are just as grueling and high-stress, current and former employees said. Read more on how there is little time for the jet-setting, homebuying and leisure many can now afford: https://bloom.bg/3AGfYdG

📷: Marlena Sloss/Bloomberg

Kai Tak, home of Hong Kong's old airport known for its white-knuckled landings, was supposed to be a property success story. But home prices there have nosedived, plagued by development hiccups and a growing number of underwater mortgages. Read more: https://bloom.bg/4dJGWjq

📷: Justin Chin/Bloomberg

E-commerce boost: Naspers, Africa’s largest company by market value, expects e-commerce and other digital platforms to inject $5.2 billion into the South African economy by 2035. https://bloom.bg/3X5qhiS

Telegram arrest: Pavel Durov’s laissez-faire attitude to regulation made messaging app Telegram into a giant and gave him a platform to clash with officials from Moscow to Brussels. https://bloom.bg/3MluMRp

Oil shutdown: Libyan oil output dropped as authorities in the OPEC member’s east enforced a shutdown, escalating a crisis the United Nations warned runs the risk of collapsing the economy. https://bloom.bg/4dDYLQD

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HSBC's incoming CEO Georges Elhedery is considering plans to cut the number of country heads worldwide, stripping away layers of middle management. Read more: https://bloom.bg/3MnnXPr

📷: HSBC

Apple has taken the rare step of cutting about 100 jobs in its services group, including some engineering positions, and roles relating to Apple News, the Apple Books app and Apple Bookstore. Read more: https://bloom.bg/3XiTvfw

📸: Samsul Said/Bloomberg

🎙 From neutralizing accents to training staff, AI has been embraced by the world's call center capital.

Find out how the technology is changing the Philippine outsourcing industry and its implications for the world on the Big Take Asia Podcast https://link.podtrac.com/jxfy2rhy

While the rest of the world is still debating what artificial intelligence might mean for jobs, citizens in the Philippines are already living in the new reality.

Read The Big Take on how the experiences of staff in the country's call center industry are a preview of the challenges coming soon to white-collar workers around the globe https://bloom.bg/4g5Lylw

📷: Lisa Marie David/Bloomberg

Mpox vaccine: Children account for over 80% of mpox deaths in the Democratic Republic of the Congo, yet the first shots to arrive in the country won’t be given to the youngest and most vulnerable patients. https://bloom.bg/3Xn5bOz

Bank coup: The officials who wrested control of Libya's central bank amid a spat between rival governments lacked one crucial element — the passwords needed to make the systems work. https://bloom.bg/3Mo4gab

Plane delays: Boeing's delays in fulfilling orders has forced Africa’s biggest carrier, Ethiopian Airlines, to lease aircraft to stay on track with its expansion. https://bloom.bg/3XoZxdF

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday

BREAKING: Pavel Durov, the CEO of Telegram, was charged in France for complicity in the spread of sexual images of children and other crimes on the messaging app https://trib.al/7qghpAb

Nvidia gave a revenue forecast that fell short of some of the most optimistic estimates, stoking concerns that its explosive growth is waning.⁣
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The outlook threatens to tamp down an AI frenzy that has transformed Nvidia into the world’s second-most-valuable company. Read the latest on the company's earnings here: https://trib.al/09vBBaf

📷: Patrick T. Fallon/Bloomberg

NEW: Nvidia has discussed joining a funding round for OpenAI that would value the artificial intelligence startup at more than $100 billion, according to people familiar with the matter. https://bloom.bg/4g5YYO5

Rand surges: The rand climbed to a 13-month high on Friday, riding a wave of optimism about South Africa’s economy and also buoyed by expectations of an imminent Federal Reserve interest-rate cut. https://bloom.bg/3ALecYV

Deforestation law: Coffee cargoes are flooding the European Union as traders rush to stock up on beans ahead of new environmental rules that kick in at the end of the year. https://bloom.bg/3Z7cXxm

Mpox outbreak: African vaccine manufacturers are readying themselves to make mpox shots as a lethal outbreak of the disease spreads across the continent. https://bloom.bg/3Ms00Xi

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Goldman Sachs plans to dismiss a few hundred employees in coming weeks as part of the firm’s annual cull of low-performing staff, according to people familiar with the matter.⁣
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The fresh round of firings would bring total cuts in 2024 to about 3% to 4% of the bank’s workforce, with most of those reductions made earlier this year, one of the people said, asking not to be named discussing internal moves.⁣
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That’s in line with the bank’s typical approach as it seeks to keep a lid on costs and make room to enlist new talent. Read more here: https://trib.al/oFuX6bv
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📷: Jeenah Moon/Bloomberg

Singapore’s super-expensive mansions are some of the most prized properties in the city. So why are some selling at a discount?

That and more in this week's free Singapore Edition newsletter: https://bloom.bg/3X8JqAB

📸: Knight Frank

Israel’s largest labor group is poised for a nationwide strike, the strongest push yet to force the government into a Gaza cease-fire and secure the release of hostages held by Hamas.

Hundreds of thousands of Israelis demonstrated in cities around the nation on Sunday — in what appeared to be the largest protests since the Oct. 7 attacks — after the bodies of six hostages were found in a tunnel in the Gaza Strip. https://bloom.bg/3AVSOju

📷: Kobi Wolf/Bloomberg

China has threatened severe economic retaliation against Japan if Tokyo further restricts sales and servicing of chipmaking equipment to Chinese firms, complicating US-led efforts to cut the world’s second-largest economy off from advanced technology. Read more: https://bloom.bg/3MsQRO5

📷: Kiyoshi Ota/Bloomberg

Dangote gas: Africa’s largest oil refinery is on the brink of producing significant volumes of gasoline, a landmark moment with the potential to transform the global market for the fuel. https://bloom.bg/47cIJLb

Beyond West: Turkey has formally asked to join the BRICS group of emerging-market nations as it seeks to bolster its global influence and forge new ties beyond its traditional Western allies. https://bloom.bg/4e1TaTW

Powerless: Zambia’s electricity crisis has intensified, with households now getting not more than three hours of supply daily after the worst drought in decades curbs hydropower generation. https://bloom.bg/4cViNVE

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday

US is laying the groundwork for new sanctions on Venezuelan government officials in response to Nicolás Maduro’s disputed reelection in July. More here: https://bloom.bg/4dPPxkC

📷: Bloomberg

NEW: Volkswagen is considering shutting factories in Germany for the first time — ever. Here's why it marks a turning point for the whole of Europe's car industry.

Read The Big Take here: https://bloom.bg/3Xrn3Yp

📷: Krisztian Bocsi/Bloomberg

Debt deal: After a decade of surging Chinese lending helped push African countries toward default, Beijing has a new proposal: commercial loans that could generate better returns for China. https://bloom.bg/3TdZRuo

No recession: South Africa’s economy expanded in the second quarter as electricity supply improved and consumers dipped into their wallets. https://bloom.bg/4cKXhms

Hired guns: Private security is filling a void as South Africa struggles to respond to an increase in murder and ransom kidnappings. https://bloom.bg/4cWzlfY

Sign up for our twice-weekly newsletter on where sub-Saharan Africa stands now — and where it’s headed at https://bloom.bg/3OsOf3y. Next Africa publishes every Tuesday and Friday