Japan’s central bank, the Bank of Japan (BOJ), made a significant decision on Tuesday to raise interest rates for the first time since 2007. This move marks the end of the world’s only negative rates regime, which had been in place since 2016. The BOJ raised its short-term interest rates from -0.1% to around 0%
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China recently released economic data for the first two months of the year, showcasing positive trends that exceeded analysts’ expectations. Retail sales saw a 5.5% increase, surpassing the forecast of 5.2%. Industrial production also experienced growth, with a 7% increase compared to estimates of 5%. Additionally, fixed asset investment rose by 4.2%, higher than the
In China, the youth are facing an increasingly tough labor market, which is leading them to explore unconventional methods in their job searches. Young people in China are struggling with fierce competition and a scarcity of job opportunities, prompting them to think outside the box when it comes to finding employment opportunities. The Rise of
North Korean leader Kim Jong Un recently made headlines after using a Russian luxury limousine gifted to him by President Vladimir Putin. Kim’s sister, Kim Yo Jong, praised the car’s “special function” and highlighted the deepening bilateral ties between North Korea and Russia. The high-end Aurus Senat limousine was gifted to Kim in February and
Tesla, the electric vehicle maker, recently settled a racist discrimination lawsuit with former employee Owen Diaz. The lawsuit, which was originally brought in 2015, resulted in a federal jury awarding $3.2 million in damages to Diaz. This settlement comes after years of legal battles and allegations of racist discrimination at Tesla’s factory in Fremont, California.
In the latest financial results, meal delivery firm Deliveroo reported a significant improvement in its financial performance. Deliveroo reported a £31.8 million ($40.7 million) loss in full-year results, which is a significant improvement from the previous year’s loss of £294.1 million. Adjusted earnings also showed positive growth, coming in at £85.4 million, up from a
As inflation begins to ease its grip on most economies, investors are closely monitoring interest rate decisions around the world. A recent report from the Economist Intelligence Unit indicates that while rates in most economies are expected to remain elevated until 2024, there is a general consensus among economists that a mild rollback may occur
The recent crisis surrounding Boeing’s Max planes has sent shockwaves through the aviation industry, prompting some of Boeing’s biggest customers to reassess their growth strategies for the future. Southwest Airlines, known for its exclusive use of Boeing 737s, announced a significant reduction in its 2024 capacity forecast due to fewer Boeing deliveries than initially expected.
Despite initial fears of a technical recession, Japan’s economy managed to return to growth in the October-December period last year. The revised official data revealed a 0.4% expansion in GDP compared to the same period a year earlier. This positive growth was largely attributed to strong capital expenditure trends. However, the upward revisions fell short
Saudi Arabia’s state oil giant, Aramco, has reported a significant 25% decline in profit for the year 2023, dropping to $121.3 billion, down from $161.1 billion in 2022. Despite this decrease, Aramco remains the most profitable company in the world, outperforming its global peers by a wide margin. The decline in profit is attributed to