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…
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…
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….
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,…
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…
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…
Themed “Unleash Digital with Everything as a Service”, the second Huawei Cloud Summit Middle East & Africa kicked off in Dubai on March 21. The event brought together over 300 government officers, cloud native industry experts, and customer representatives from…
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…
Sales of existing homes in United States rose 14.5% in February compared with January, according to a seasonally adjusted count by the National Association of Realtors. That put sales at an annualized rate of 4.58 million units. It was the…
Amazon.com Inc on Monday said it would cut another 9,000 jobs totaling 27,000 job cuts in recent months. In a note to staff posted online, CEO Andy Jassy said the decision stemmed from ongoing analysis of priorities and uncertainty about…
Flagstar Bank, a subsidiary of New York Community Bancorp, has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC), to purchase deposits and loans from New York-based Signature Bank. Flagstar Bank will assume substantially all of Signature Bank’s…
Average interest payments on fixed-term mortgages are set to soar by 55% this year to £500 a month, which would exacerbate the cost-of-living crisis in United Kingdom. And the average cost for fixed-term holders is set to more than double…