Today: November 21, 2024
Today: November 21, 2024

Economy

Business|Economy|Europe|Technology|US

Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in Europe

Ford is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars

Ford, facing economic headwinds and weak EV sales, to cut 4,000 jobs in Europe
Business|Economy|Finance|Lifestyle|US

Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target

Retailers are in for a mixed holiday season this year ahead of Black Friday and Christmas, marked by watchful consumers keeping big spending on a

Uncertainty clouds holiday shopping season after mixed forecasts from Walmart, Target
Business|Economy|Finance|US

3 urgent tasks awaiting Trump’s pick for Treasury secretary

3 urgent tasks awaiting Trump’s pick for Treasury secretary

3 urgent tasks awaiting Trump’s pick for Treasury secretary
Economy|US

Young families are leaving many large US cities − here’s why that matters

Although many US cities have recovered from economic downturns during the COVID-19 pandemic, they still are losing young families in large numbers. Here’s how that trend degrades urban life.

Young families are leaving many large US cities − here’s why that matters
Business|Economy|Environment|US

Companies are still committing to net-zero emissions, even if it’s a bumpy road – here’s what the data show

Microsoft, Walmart and a few other high-profile companies made news for scaling back their public climate commitments. However, a closer look at the numbers shows commitments are still booming.

Companies are still committing to net-zero emissions, even if it’s a bumpy road – here’s what the data show
Business|Economy|Finance

Legal complications await if OpenAI tries to shake off control by the nonprofit that owns the rapidly growing tech company

When for-profit companies are spun out of nonprofits, there is no easy way out of the legal consequences.

Legal complications await if OpenAI tries to shake off control by the nonprofit that owns the rapidly growing tech company
Business|Economy|Finance

Sheetz is slashing gas prices by 40 cents a gallon

Sheetz is slashing gas prices by 40 cents a gallon

Sheetz is slashing gas prices by 40 cents a gallon
Business|Economy|Finance|US

Brokerages see 'uncertain' 2025 on worries over potential Trump tariffs

Uncertainties around U.S. policies may slow global economic growth modestly in 2025, according to major brokerages. They expect U.S.

Brokerages see 'uncertain' 2025 on worries over potential Trump tariffs
Business|Economy|Finance

Chile's central bank: Tighter external financing could impact households, businesses

Tighter external financing conditions could impact Chile's households, businesses and mortgages, increasing default risks they might face, the central bank said on Wednesday.

Chile's central bank: Tighter external financing could impact households, businesses
Business|Economy|Environment|Science|Technology

Oil majors are betting big on biofuels with over 40 projects by 2030, Rystad says

Major oil and gas companies have ramped up investments in the biofuels sector, betting on sustainable aviation fuel (SAF), with 43 projects expected to be up and running by 2030,

Oil majors are betting big on biofuels with over 40 projects by 2030, Rystad says
Economy|Europe|Health

Italian health workers strike over pay, under-investment

Thousands of Italian doctors and nurses stayed at home on Wednesday to protest over their pay and conditions in the latest sign of malaise in the country's struggling health sector.

Italian health workers strike over pay, under-investment
Africa|Business|Economy|Finance|Stock Markets

Kenya in talks for fresh $750 million from World Bank, $200 million from AfDB, says official

Kenya has secured a $200 million loan from the African Development Bank and is in talks with the World Bank for a new $750 million loan, the finance ministry's head

Kenya in talks for fresh $750 million from World Bank, $200 million from AfDB, says official
Business|Economy|Technology|US

Target sounds the alarm bell on holiday shopping

Target sounds the alarm bell on holiday shopping

Target sounds the alarm bell on holiday shopping
Business|Economy|Finance

India's FY25 capital spending seen 5% below target, top ministry official says

India might undershoot its capex target of 11.1 trillion rupees ($131.72 billion) for fiscal year 2024-25 by around 5%, a top finance ministry official said on Wednesday.

India's FY25 capital spending seen 5% below target, top ministry official says
Africa|Business|Economy|Technology

‘We don’t want to leave anyone behind,’ says Google’s Alex Okosi on the company’s drive to cut data costs in Africa

‘We don’t want to leave anyone behind,’ says Google’s Alex Okosi on the company’s drive to cut data costs in Africa

‘We don’t want to leave anyone behind,’ says Google’s Alex Okosi on the company’s drive to cut data costs in Africa
Business|Economy|Lifestyle

So long, Fifth Avenue. The world’s most expensive shopping street is now in Milan

So long, Fifth Avenue. The world’s most expensive shopping street is now in Milan

So long, Fifth Avenue. The world’s most expensive shopping street is now in Milan
Business|Economy|Europe|Finance

Swiss industry gloomy over prospects as sales and exports slip

Swiss industry is struggling with falling orders and sales as weaker European demand and a strong franc hit exporters, with two surveys showing companies gloomy about

Swiss industry gloomy over prospects as sales and exports slip
Business|Economy|Finance|Stock Markets|US

Delta Air eyes mid single-digit revenue growth in 2025 with premium travel in focus

Delta Air Lines said on Wednesday it expects 2025 revenue to grow by a mid single-digit percentage as it strengthens its bet on premium travel, a major revenue driver for the carrier.

Delta Air eyes mid single-digit revenue growth in 2025 with premium travel in focus
Business|Economy|Finance

A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter

Target has reported sluggish sales and slumping profits in the fiscal third quarter as inflation-weary customers curtailed their spending on apparel and other non-essential items

A tale of two retailers: Target reports sluggish spending while Walmart has a stellar quarter
Business|Economy|Technology

How much of Musk’s wealth comes from tax dollars and government help?

How much of Musk’s wealth comes from tax dollars and government help?

How much of Musk’s wealth comes from tax dollars and government help?
Asia|Economy|Environment|World

Indonesia can reach net zero emissions before 2050, president says

Indonesia is optimistic it can reach net zero emissions before 2050, a decade earlier than previously targeted, President Prabowo Subianto told a G20 forum, Prabowo also said

Indonesia can reach net zero emissions before 2050, president says
Business|Economy|Finance|US

Senator Warren urges Fed to keep Wells Fargo asset cap

The Federal Reserve must not remove Wells Fargo's $1.95 trillion asset cap until the bank has fixed its risk management and compliance issues, top Democratic

Senator Warren urges Fed to keep Wells Fargo asset cap
Asia|Business|Economy|Finance

Sinochem may keep bankrupt refineries as auctions draw scant interest, sources say

Sinochem Group may keep three bankrupt oil refineries located in eastern China after auctions to sell them drew little interest from other companies, sources

Sinochem may keep bankrupt refineries as auctions draw scant interest, sources say
Economy|Europe|Finance|World

Turkey's Erdogan cites inflation forecast when asked about minimum wage hike

President Tayyip Erdogan on Wednesday cited the central bank's year-end inflation forecast of 44% and said Turkey will not let inflation crush people when asked about an expected

Turkey's Erdogan cites inflation forecast when asked about minimum wage hike
Business|Economy|Europe|Finance

Euro zone negotiated pay growth accelerates in Q3, adding to rate cut caution

Euro zone negotiated wage growth accelerated in the third quarter, adding to the case for caution in cutting interest rates quickly as the labour market remains tight despite

Euro zone negotiated pay growth accelerates in Q3, adding to rate cut caution
Business|Economy|Finance|Food|US

CONSUMER WATCH: HOW MUCH WILL THANKSGIVING FOOD COST?

How much will a Thanksgiving dinner cost this year? Jenn Sullivan looks at how inflation is impacting prices

CONSUMER WATCH: HOW MUCH WILL THANKSGIVING FOOD COST?
Economy|Food|Lifestyle

Cheaper turkeys help bring down Thanksgiving dinner costs this year

Cheaper turkeys help bring down Thanksgiving dinner costs this year

Cheaper turkeys help bring down Thanksgiving dinner costs this year
Business|Economy

UK house prices rise at fastest pace since Feb 2023, ONS says

British house prices rose at the fastest pace since February 2023 in the 12 months to September, figures from the Office for National Statistics showed on Wednesday.

UK house prices rise at fastest pace since Feb 2023, ONS says
Business|Economy|Europe

Irish pre-election spending promises abound despite Trump tax threat

Parties vying to lead the next Irish government are luring voters with ambitious spending plans, banking on a continued boom in foreign multinational corporate tax

Irish pre-election spending promises abound despite Trump tax threat
Business|Economy|Europe

VW plans for factory closures cross several red lines, works council chief says

Volkswagen is planning to shut factories in every scenario presented to labour representatives, putting both factions on collision course in a dispute over pay and jobs,

VW plans for factory closures cross several red lines, works council chief says
Economy|Finance|US

Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll

The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially

Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll
Asia|Economy

Taiwan October export orders beat forecasts on AI, China demand remains soft

Taiwan export orders maintained strong momentum going into the final quarter by beating expectations for October, as the island benefits from demand for artificial intelligence (AI)

Taiwan October export orders beat forecasts on AI, China demand remains soft
Economy|Europe|World

Greece hit by general strike as thousands of workers protest over the high cost of living

Large protests have been held in Greece as part of a 24-hour nationwide general strike called by labor unions timed to coincide with the government submitting its 2025 budget to Parliament

Greece hit by general strike as thousands of workers protest over the high cost of living
Africa|Economy|Finance

South Africa inflation drops to lowest in over four years

South Africa's inflation rate dropped sharply in October to its lowest level since the peak of the COVID pandemic, data showed on Wednesday,

South Africa inflation drops to lowest in over four years
Asia|Business|Economy|Finance

Japan set to approve $87 billion economic stimulus this week

Japan's ruling coalition on Wednesday agreed with a key opposition party on the draft of an economic stimulus package, clearing a major hurdle for the $87

Japan set to approve $87 billion economic stimulus this week
Business|Economy|Education|Europe|Health

Greece general strike brings thousands onto streets, halts shipping, transport

A general strike docked ships and disrupted rail and bus services across Greece on Wednesday, as thousands of workers marched in

Greece general strike brings thousands onto streets, halts shipping, transport
Economy|Environment|World

UN moves to unlock stuck climate financing for Afghanistan, agencies say

United Nations agencies are trying to unlock key climate financing for Afghanistan, one of the world's most vulnerable countries to

UN moves to unlock stuck climate financing for Afghanistan, agencies say
Asia|Economy|Finance

Indonesia central bank leaves rates on hold as it focuses on FX stability

Indonesia's central bank left interest rates unchanged on Wednesday, as expected, saying changed global dynamics after the U.S. election

Indonesia central bank leaves rates on hold as it focuses on FX stability
Asia|Economy|Travel

Japan sets monthly record 3.31 million visitors in October

Japan welcomed a record 3.31 million visitors last month, official data showed on Wednesday, as the weak yen propelled a tourism boom that is pouring money into the nation's coffers.

Japan sets monthly record 3.31 million visitors in October
Business|Economy|Europe

German producer prices fall 1.1% y/y in October

German producer prices fell in October, in line with expectations, decreasing by 1.1% on the year, the federal statistics office reported on Wednesday.

German producer prices fall 1.1% y/y in October
Economy|Europe|Finance

UK inflation jumps to 2.3%, underscoring BoE's stance for gradual rate cuts

British inflation jumped by more than expected last month to rise back above the Bank of England's 2% target and underlying price growth

UK inflation jumps to 2.3%, underscoring BoE's stance for gradual rate cuts
Business|Economy|Europe|World

Russian farmers ditch wheat for other crops after heavy losses

Russian farmers say they will sow less wheat after heavy losses this year, switching to more profitable crops such as peas, lentils,

Russian farmers ditch wheat for other crops after heavy losses
Business|Economy|Europe|US

In high-wage Germany, VW's labour costs outstrip the competition

As Volkswagen and unions gear up for the next round of talks over wages and plant closures in Germany, company and industry data

In high-wage Germany, VW's labour costs outstrip the competition
Business|Economy|Europe|Finance

HSBC relaunches 'Premier' brand in UK in pursuit of wealthy clients

HSBC is relaunching its 'Premier' wealth banking brand in Britain, targeting so-called mass affluent customers who have between 100,000 and 2 million pounds ($2.5

HSBC relaunches 'Premier' brand in UK in pursuit of wealthy clients
Asia|Business|Economy|World

Stock market today: Wall Street drifts as Target tumbles

U.S. stocks drifted to a mixed finish, though the modest moves for indexes masked some thrashing underneath the surface

Stock market today: Wall Street drifts as Target tumbles
Asia|Business|Economy|Finance

Thailand expects to distribute $4 billion in handouts in Q2 next year

Thailand expects to conduct the third phase of its cash handout stimulus programme in the second quarter next year, when 140 billion baht ($4.1 billion) will be distributed to 14

Thailand expects to distribute $4 billion in handouts in Q2 next year
Asia|Business|Economy|Finance|Stock Markets

China funds slash ETF fees, escalating price war in booming market

Major Chinese fund companies announced a big reduction in fees for a batch of equity exchange-traded funds (ETFs) on Wednesday, intensifying price competition in the

China funds slash ETF fees, escalating price war in booming market
Asia|Business|Economy|Finance|Stock Markets

How far could the Bank of Japan raise interest rates?

The Bank of Japan is laying the groundwork to raise interest rates again, but has left markets guessing how soon and at what pace it could push up still-low borrowing

How far could the Bank of Japan raise interest rates?
Economy|Finance|Stock Markets|US

Investors lift US dollar, focus on Federal Reserve outlook

The U.S. dollar rose on Wednesday, renewing its post-election rally after a three-session decline as investors looked for more insight on the Federal Reserve's

Investors lift US dollar, focus on Federal Reserve outlook
Business|Economy|Finance|World

Oil settles down on strong US supply, losses capped by Ukraine escalation

Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the

Oil settles down on strong US supply, losses capped by Ukraine escalation
Asia|Economy|Finance

Japan records a trade deficit in October for a 4th straight month, despite export recovery

Japan racked up a trade deficit in October for the fourth month in a row, as a weak yen and rising energy prices kept import costs high

Japan records a trade deficit in October for a 4th straight month, despite export recovery
Business|Economy|Finance

Gender pay gap narrows marginally in Australia, government report shows

The gender pay gap in Australia has narrowed marginally though women employees on average still earned A$28,425 ($18,590) less each year than their male colleagues, a

Gender pay gap narrows marginally in Australia, government report shows
Americas|Business|Economy|US

Mexico warns about Trump tariff impact on U.S. companies

Mexico's top economy officials on Tuesday downplayed concerns about trade talks with Donald Trump's administration, saying the potential impact on American

Mexico warns about Trump tariff impact on U.S. companies
Asia|Economy|Finance

China leaves lending benchmark LPRs unchanged, as expected

China left benchmark lending rates unchanged at the monthly fixing on Wednesday, after lenders slashed the rates by higher-than-expected margins last month to revive economic

China leaves lending benchmark LPRs unchanged, as expected
Business|Economy|Election|Finance|US

California voters reject measure that would have raised minimum wage to nation-high $18 per hour

California voters have rejected a measure on the November ballot that would have raised the minimum wage for most workers to $18 an hour

California voters reject measure that would have raised minimum wage to nation-high $18 per hour
Asia|Business|Economy|Finance|Stock Markets|Technology

Alibaba raises $5 billion in dual currency bond deal

Alibaba has raised $5 billion in a dual-currency bond, China's biggest e-commerce company said on Wednesday, marking the largest deal of its kind in the Asia-Pacific this

Alibaba raises $5 billion in dual currency bond deal
Asia|Business|Economy|Finance|Stock Markets

Funding for Seven & i founding family buyout will be finalised by end Dec, say sources

Funding for the proposed buyout of Japan's Seven & i Holdings by its founding family will be finalised by the end of December and will involve Japan's

Funding for Seven & i founding family buyout will be finalised by end Dec, say sources
Asia|Business|Economy|World

Hong Kong hears from jailed media tycoon Jimmy Lai for the first time in four years at his trial

Hong Kong hears from jailed media tycoon Jimmy Lai for the first time in four years at his trial

Hong Kong hears from jailed media tycoon Jimmy Lai for the first time in four years at his trial
Business|Economy|Finance

Nearly 1 million UK workers are uncounted, think tank says

Britain's official labour market statistics may be failing to count almost 1 million people who are in work, complicating the Bank of England's task of deciding

Nearly 1 million UK workers are uncounted, think tank says
Asia|Business|Economy

Japan exports rebound on China chipmaking demand but Trump tariff risks loom

Japan's exports expanded faster than expected in October, led by a pick-up in chip equipment demand in China, though fears persist over potential U.S. protectionist

Japan exports rebound on China chipmaking demand but Trump tariff risks loom
Business|Economy|Europe|US

Airbus CEO says Spirit Aero talks going well but industrial challenges lie ahead

The head of European planemaker Airbus said talks to finalise the takeover of part of troubled U.S. aerostructures supplier Spirit Aerosystems were going smoothly

Airbus CEO says Spirit Aero talks going well but industrial challenges lie ahead
Australia|Economy|Finance

Australia statistician overstated child care costs, but no impact on CPI

Australia's official statistician has been overestimating the cost of child care in its consumer price index for the past year, but the error will not result in any changes to

Australia statistician overstated child care costs, but no impact on CPI
Asia|Economy|US|World

Congressional panel urges toughing the US-China trade relationship

A congressional panel has recommended that the U.S. toughen its trade relationship with Beijing

Congressional panel urges toughing the US-China trade relationship
Economy|US

Americans want Trump to focus on inflation in his first 100 days, Reuters/Ipsos poll finds

Americans see inflation as the leading issue President-elect Donald Trump should tackle during his first 100 days in office, according to a Reuters/Ipsos

Americans want Trump to focus on inflation in his first 100 days, Reuters/Ipsos poll finds
Business|Economy|Travel

Spirit Airlines' struggle to navigate post-pandemic trends lands it in bankruptcy

Spirit Airlines was expected to be one of the big travel industry winners after the pandemic.

Spirit Airlines' struggle to navigate post-pandemic trends lands it in bankruptcy
Business|Economy|Finance|US

Prominent Wall Street boss Lutnick has been one of Trump's biggest cheerleaders

Wall Street veteran Howard Lutnick, whose domain stretches from brokerages to real estate, has been one of Donald Trump's biggest promoters from the business world in recent

Prominent Wall Street boss Lutnick has been one of Trump's biggest cheerleaders
Business|Economy|Election|Finance|Stock Markets|US

Trump picks Dr. Oz to run Medicare and Medicaid, Linda McMahon for Education, Lutnick for Commerce

President-elect Donald Trump has tapped billionaire professional wrestling mogul Linda McMahon to be secretary of the Education Department, tasked with overseeing an agency Trump has promised to dismantle

Trump picks Dr. Oz to run Medicare and Medicaid, Linda McMahon for Education, Lutnick for Commerce
Economy|Finance

Fed's Schmid says it is uncertain how far interest rates can fall

It remains uncertain how far interest rates can fall, though the initial reductions made by the U.S. central bank are a vote of confidence that inflation is

Fed's Schmid says it is uncertain how far interest rates can fall
Americas|Asia|Business|Economy|Science|Technology|World

Brazilian, Indian leaders discuss expanding energy, pharmaceutical trade

Brazil President Luiz Inacio Lula da Silva said on Tuesday he spoke with India's Prime Minister Narendra Modi about expanding scientific and business trade between both countries

Brazilian, Indian leaders discuss expanding energy, pharmaceutical trade
Business|Economy|US

Grid operator PJM faces new complaint over power supply auction

A consumer advocacy group has launched a complaint against PJM Interconnection, saying the largest U.S. grid operator is unfairly awarding record high payments to

Grid operator PJM faces new complaint over power supply auction
Economy|Environment|World

Biden appeals to world leaders to stay in the climate fight as Trump casts shadow

President Joe Biden is making an urgent appeal to fellow world leaders to surge money to developing nations to curb climate change as he wraps up his final appearance at a major international summit

Biden appeals to world leaders to stay in the climate fight as Trump casts shadow
Economy|Europe|World

French farmers continue protests as union threatens food supply disruption

French farmers held a second day of protests on Tuesday over EU-Mercosur trade talks, with the hardline Coordination Rurale union dumping Spanish wine and blocking official buildings

French farmers continue protests as union threatens food supply disruption
Business|Economy|Food|Technology|US|World

South Africa will focus G20 presidency on inclusive growth, food security

South Africa will use its G20 presidency to focus on advancing inclusive economic growth, food security and artificial intelligence, President Cyril Ramaphosa said on Tuesday

South Africa will focus G20 presidency on inclusive growth, food security
Business|Economy|US

Nebraska files antitrust lawsuit against heavy-duty truck makers over EV push

Nebraska Attorney General Michael Hilgers on Tuesday filed an antitrust lawsuit against some of the largest heavy-duty truck manufacturers accusing them of limiting the

Nebraska files antitrust lawsuit against heavy-duty truck makers over EV push

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