Category: Wire

The International Monetary Fund (IMF) managing director Kristalina Georgieva reiterated her view that 2023 would be another challenging year, with global growth slowing to below 3% due to scarring from the pandemic, the war in Ukraine and monetary tightening. Even with a better outlook for 2024, global growth will remain well below its historic average…

Walmart is laying off hundreds of employees at e-commerce facilities across the country, as the largest private employer is shrinking its workforce as many retailers plan on roughly flat or declining sales. Inflation and the shift back to services is taking a bite out of sales of goods, particularly after a pandemic-fueled spending boom. Earlier,…

LONDON, UK: The Bank of England on Thursday hiked interest rates by 25 basis points as it grapples with persistent high inflation. The Monetary Policy Committee voted 7-2 in favor of raising the Bank rate to 4.25%, in a widely anticipated move after official data on Wednesday showed that U.K. inflation unexpectedly jumped to an…

The Federal Aviation Administration (FAA) has announced measures to avoid disruptions at airports serving New York City and Washington D.C. this summer. The agency said it will reduce flight requirements for airlines’ take off and landing rights to avoid congestion. Airlines have until April 30 to file requests to give up take-off and landing slots….

Japan Airlines (JAL) has announced to buy 21 Boeing 737 MAX to replenish its narrowbody fleet. Japan Airlines Co., Ltd., also known as JAL or Nikkō, is an international airline and Japan’s flag carrier and largest airline as of 2022, headquartered in Shinagawa, Tokyo. Its main hubs are Tokyo’s Narita International Airport and Haneda Airport,…

General Motors (GM) will end production of the Chevrolet Camaro form early next year, as the automaker transitions to all-electric vehicles. The automaker did not announce a replacement or next generation of the car, but it said the current sixth-generation muscle car will not be the “end of Camaro’s story.” “While we are not announcing…

Ford has unveiled its mid-sized electric Explorer SUV, a remake of its iconic and best-selling Explorer SUV. The model has been built on Volkswagen’s VWAGY modular electric drive matrix (MEB) platform and is expected to be available for less than $50,000 or €45,000. Martin Sander, GM of Ford’s Europe EV business, said, “Steeped in our…

Bed Bath & Beyond is closing 400 stores as it tries to stave off bankruptcy. Bed Bath & Beyond has fallen to the “retail apocalypse” over the past decade, but many chains are still growing. Growth has been most pronounced in the discount segment of retail as shoppers on tight budgets search for low prices….