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…
January 24, 2023
US accuses Google of ‘driving out’ ad rivals
The US Department of Justice (DOJ) and eight US states have filed a case against Google alleging it has too much power over the online ad market.Its anti-competitive actions had "weakened if not destroyed competition in the ad tech industry", US…
January 20, 2023
INVEST TCI TO SIT ON CAIPA BOARD OF DIRECTORS FOR 2023-2024
In a year-end meeting of the members of the Caribbean Association of Investment Promotion Agencies (CAIPA), held on December 19th, 2022, the members elected a new president, Mr. Ronald Theodore, CEO of the Grenada Investment Development Corporation,…