March 22, 2023
US raises interest rates
The US central bank has raised interest rates again, despite fears that the move could add to financial turmoil after a string of recent bank failures. The Federal Reserve increased its key rate by 0.25 percentage points and said more action could…
March 21, 2023
Stocks rebound as US and UK seek to calm investors
Stock markets around the world have bounced back after the US and UK governments again reassured markets about banks' stability. Investors have recently been unnerved by a string of bank failures. But US stock markets were higher after Treasury…
March 20, 2023
Amazon to cut another 9,000 jobs
Online retail giant Amazon plans to cut another 9,000 jobs as it seeks to save costs. The firm, which employs 1.5 million people worldwide, said the cuts would fall mainly in areas including cloud computing and advertising. It did not say which…
March 2, 2023
Bank of England boss says UK interest rates may rise further
Interest rates may need to go up again to slow the cost of living down, Bank of England boss Andrew Bailey has said. Mr. Bailey said raising rates higher may be "appropriate" to control inflation but said nothing was decided yet.Raising interest…
March 2, 2023
Whiskey fungus lawsuit forces Jack Daniels to halt building project
A Jack Daniels building project is to be halted after a neighbour argued she was facing a plague of whiskey fungus caused by escaping alcohol vapours. Christi Long, of Lincoln County, Tennessee, claimed her property was coated in the fungus, which…
February 24, 2023
Netflix cuts prices for subscribers in more than 30 countries
Streaming giant Netflix has cut prices in more than 30 countries as it attempts to attract more subscribers. Prices have been cut in parts of Asia, Europe, Latin America, sub-Saharan Africa, and the Middle East. It comes as the rising cost of living…
February 10, 2023
Pakistan Crucial IMF bailout deal eludes negotiators
Eleventh-hour negotiations between Pakistan and the International Monetary Fund (IMF) have failed to unlock $1.1bn in crucial funds aimed at preventing the country from going bankrupt. A deepening economic crisis has all but emptied Pakistan's…
February 6, 2023
UK battery start-up set to be bought by Australian firm
An Australian firm has been named as the preferred bidder for Britishvolt, the UK battery start-up which collapsed last month. Recharge Industries, which is owned by New York fund Scale Facilitation Partners, has entered an agreement to buy…
February 5, 2023
Liz Truss: I was never given a ‘realistic chance to cut taxes’
Liz Truss has said she was never given a "realistic chance" to implement her radical tax-cutting agenda by her party. In a 4,000-word essay in the Sunday Telegraph, Ms. Truss stood by her plans to boost economic growth, arguing they were brought…
February 1, 2023
As Global Economy Weakens, Paypal cuts 2,000 jobs
PayPal is shedding around 2,000 jobs, or 7% of its workers, as it becomes the latest big tech firm to cut costs. The online payments company says it was forced to make the decision as it faces "the challenging macro-economic environment." PayPal's…