Chief Executive Officer of Citigroup Jane Fraser has addressed the bank's managing directors revealing that more leadership positions would be eliminated. Managers in risk, markets and investment banking have been fired.
The US retail sale chain has announced that it would raise store manager annual salaries and bonuses. The move would take average hourly wage above $18.00.
The United Kingdom monthly retail sales data has revealed a slump of 3.2% between December and November. The new data indicates that the British economy might be in a recession.
The German company BOSCH is set to fire 1,200 employees in the software developments division. The layoffs are set to occur by the end of 2026.
Tata Steels is set to close two furnaces in the UK and fire up to 2,800 employees in Port Talbot. The company intends to get rid of its loss-making facilities.
The US department store operator Macy's has announced that it would fire 2,350 employees and close five stores. Layoffs are set to affect up to 3.5 % of the total workforce.
The Indian airline Akasa Air has revealed to the world that it is confident about a new order of 150 Boeing 737 Max airplanes, despite the recent cabin panel incident.
Honda Motor Corporation has announced that it would concentrate on selling light trucks and hybrid vehicles in the United States, during 2024.
The health insurance company Humana has revealed that it expects demand for healthcare services to impact its costs throughout 2024. The news caused a 14% drop of the company's stock price.
United States banking sector profits have experienced a decline due to higher deposit and one-time charge costs. In general, the banks have had to give more to attract capital, as interest rates have been increased over 2023.
Reuters has reported that the social media firm Reddit intends to have an initial public offering of its shares. The company has been considering a stock listing for three years.
Reuters has reported that the newly launched Bitcoin Exchange Traded Funds have attracted investment that almost amounts to $2.0 billion.
The United States Federal Aviation Administration has announced that it had finished the initial inspection of a group of 40 Boeing 737 MAX 9 airplanes.
Bloomberg News has reported that Goodyear is set to name Mark Stewart from Stellantis as the company's new Chief Executive Officer.
The European Union's European Commission has sent information requests to 17 largest global tech companies. The authorities are requesting information under the EU Digital Services Act.
The retail store chain Birkenstock has revealed that annual earnings would be lower than expected due to global expansion costs. The stock price dropped 12.00% on the announcement.
In accordance with a report by The Verge, the Chief Executive Officer of Google Sundar Pichai has warned the company's employees that more layoffs would occur throughout 2024.
The United States chipmaker Intel has experienced luck in its $1.2 billion case against EU regulators, as an advisor of the court has ruled that the government officials had made mistake sin their economic analysis.
The stock price of Spirit Airlines extended losses into Thursday. The company has lost more than 70% of its value since a US judge blocked its acquisition by JetBlue Airways.
Taiwan Semiconductor Manufacturing Company has revealed that it expects strong global demand for AI to cause a 20% increase of the company's revenue throughout 2024.
Crude oil prices have continued to surge as the IEA and OPEC have increased their forecasts for global demand of oil in 2024 and 2025.
The surge of the United States stock indices has continued, as the QQQ has reached a new all-time high and other indices were approaching their 2021 high levels.
The oil production cartel OPEC+ has revealed that it expects demand to continue to grow throughout 2024 and 2025.
Apple has managed to overtake Samsung Electronics as the top seller of smartphones. Apple has taken 20.00% of market share in 2023. Samsung has remained with a share of 19.4%.