In response to growing concerns about persistent inflation and strong economic growth, the Bank of Canada (BoC) has raised its key overnight benchmark rate to 4.75%, reaching its highest level in 22 years. The central bank had maintained the rate…
In May 2023, wholesale used vehicle prices reached their lowest level for the year, reflecting a decline in sales amid high interest rates and inflated retail prices. Cox Automotive, a leading provider of automotive services, reported a 2.7% drop from…
Onebeat, an AI-enabled retail-tech company based in Tel Aviv, Israel, has secured an additional $10 million in funding. The funding round was led by Magenta Venture Partners, with participation from AnD Ventures, INcapital Ventures, J-Ventures, Surround Ventures, and Wilson’s Bird…
Berlin, Germany: German industrial production showed a slower-than-expected increase in April, according to data released by Destatis, the federal statistical office of Germany. The figures indicate a mixed performance across different sectors of the German economy. Industrial orders in April…
Brussels, Belgium: Brussels Airport and Shenzhen Airport have solidified their strategic partnership by officially signing a Sister Airport Relationship agreement. This collaboration aims to foster closer ties between the two airports and facilitate the exchange of best practices in the…
A new study from Marqeta, the card issuing platform, has revealed that embedded finance is experiencing significant growth in the UK, with consumers increasingly embracing the convenience it offers, particularly in the realm of payments. The annual ‘State of Payments’…
Tech giant Apple has reportedly acquired Mira, a Los Angeles-based augmented reality (AR) startup. The news of the acquisition was revealed through the CEO of Mira on their private Instagram account, according to reports from The Verge. Mira is known…
Australia’s gross domestic product (GDP) expanded by 2.3% year-on-year in the first quarter, slightly below analyst expectations, according to data from the country’s Bureau of Statistics. Economists surveyed by Reuters had anticipated a growth rate of 2.4%, compared to the…
In a major move that has caught the attention of the global fast-food industry, Subway, the renowned sandwich chain, has announced its plans to significantly expand its operations in China. The company revealed on Tuesday its intention to open nearly…
Kilkenny, Ireland: Renowned businessman Terry Clune has announced the sale of Immedis, a leading payroll software developer, to UKG, a prominent US multinational. The transaction, confirmed by both companies on Tuesday, is set to be finalized within the next two…
Washington, D.C.: The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, the largest cryptocurrency exchange in the United States, accusing the company of operating unlawfully by failing to register with the regulatory agency. This legal action…
Dearborn, Michigan: Ford Motor Co has announced an expansion of its recall, affecting approximately 125,000 sport utility vehicles and trucks, due to potential engine failures that could lead to a fire hazard. The recall encompasses certain models of the Escape…