BEIJING >> China’s top economic planner predicted last week that the world’s second-biggest economy will grow between 6.5 and 7 percent this year.
The chairman of the National Development and Reform Commission, Xu Shaoshi, said during a news conference that downward pressure on the world’s No.2 economy would continue in 2016.
But he said China would be able to achieve its growth target if it generates sufficient jobs and maintains stable prices. Xu said governments at all levels would work to manage unemployment and prevent it from affecting social stability.
“The central government will consider providing policies to help resolve this issue, and I believe local governments are fully capable of handling the situation,” Xu said.
China’s economy grew 6.9 percent last year, its slowest expansion in 25 years. Data for January suggested growth could continue to wane this year.
Shake-up at Yahoo cuts jobs, services
SAN FRANCISCO >> Yahoo is laying off about 1,700 employees and shedding some of its excess baggage in a shake-up likely to determine whether CEO Marissa Mayer can save her own job.
The long-anticipated purge, announced last week, will jettison about 15 percent of Yahoo’s workforce along with an assortment of services that Mayer decided aren’t worth the time and money that the Internet company has been putting into them.
The cost cutting is designed to save about $400 million annually to help offset a steep decline in net revenue this year.
Mayer also hopes to sell some of Yahoo’s patents, real estate and other holdings for $1 billion to $3 billion.
Products to be dumped include Yahoo Games, Yahoo TV and some of the digital magazines that Mayer started as CEO. She will also close offices in Dubai, United Arab Emirates; Mexico City; Buenos Aires, Argentina; Madrid; and Milan.
