Sales of foreign mobile phones in China plummeted 47.4% year-on-year in November, totaling just 3.04 million units, according to new data from the China Academy of Information and Communications Technology (CAICT). Apple, the dominant foreign […]
Volkswagen Group is betting big on its electric future with Rivian. The automaker has raised its investment in the joint venture from an initial $5 billion to $5.8 billion, planning to launch the first VW […]
U.S. consumer giants are finding China a challenging market as slowing consumer spending and strong local competition impact sales. Tech titan Apple, coffee chain Starbucks, and sportswear giant Nike have all reported sales dips in […]
Boeing is facing a turbulent period as it announced plans to cut 17,000 jobs, equivalent to 10% of its global workforce, in response to financial challenges worsened by a month-long strike. The strike, involving 33,000 […]
Amazon Prime Video subscribers will soon encounter more ads during their favorite shows and movies, as the streaming giant aims to increase its ad revenue. Starting next year, Amazon will begin inserting ads not only […]
Chinese automaker Chery has begun assembling vehicles in Russia, taking over production in three factories previously operated by Volkswagen, Mercedes, and Nissan. These factories had been vacated following the exodus of Western companies due to […]
In a recent campaign speech, former President Donald Trump pledged to abolish taxes on overtime pay if re-elected. Speaking in Tucson, Arizona, Trump argued that this move would incentivize workers and ease hiring pressures on […]
Google and Apple, two of the world’s largest tech companies, have faced heavy fines for abusing their market dominance, highlighting the economic consequences of monopoly power. In a major ruling, Google was ordered by the […]
Bill Gates recently spoke out about the US tax system, stating that he would be significantly poorer if he had designed it. Gates advocates for a more progressive tax structure, where the rich pay a […]
New Zealand is set to raise its tourism entry tax, increasing the International Visitor Conservation and Tourism Levy from NZ$35 (£16.52) to NZ$100 (£47.20) from October 1, 2024. This tax is intended to boost economic […]
In an unexpected twist, Icelandic supermarkets are facing an acute shortage of cucumbers, all due to a viral TikTok trend. The trend, which involves a simple salad recipe featuring cucumbers, sesame oil, and various seasonings, […]
“Black Myth: Wukong,” a Chinese-developed action RPG, has achieved unprecedented success, selling over 10 million copies within just three days of its release. Developed by Game Science, this title has quickly climbed to the top […]
The newly-appointed CEO of Starbucks, Brian Niccol, is facing criticism after it was revealed that he will commute nearly 1,000 miles from his home in Newport Beach, California, to Starbucks’ headquarters in Seattle using a […]
The government in Thailand plans to raise the daily minimum wage by 14%, reaching 400 baht ($10.88) by October 1. This move has sparked concern among business groups, fearing that higher labour costs could lead […]
Apple’s latest advertising campaign, intended to highlight the creative potential compacted into its new iPad, has inadvertently ignited a storm of controversy. The ad visually represents creativity being compressed by destroying various objects, including musical […]
In a move to bolster the United States’ semiconductor capacity, the CHIPS Act has earmarked approximately $52 billion in funding for the sector, aiming to reduce dependence on overseas chip manufacturing. Samsung, plans to use […]
The European Commission has initiated inquiries into two Chinese solar panel manufacturers amid concerns of potential government subsidies that contravene EU competition regulations. These investigations emerge as these firms vie for a contract to develop […]
Uber has reached a monumental $271.8 million settlement with Australian taxi and hire car drivers, operators, and license holders. This compensation is for the economic losses they suffered following Uber’s entrance into the Australian market, […]
Volkswagen has partnered with Xpeng, a renowned Chinese electric car manufacturer, in a strategic move to reclaim its foothold in the rapidly growing electric vehicle (EV) market in China. This collaboration aims to develop two […]
In a notable effort to rejuvenate its tourism sector, Thailand has announced a reduction in alcohol tax rates. This policy, effective from Friday, is part of a broader strategy to appeal to international visitors and […]
Article: Scotland is set to take a bold step in its public health policy by increasing the minimum price of alcoholic beverages by 30%. This significant move, expected to be confirmed by ministers in Edinburgh, […]
In a recent move that’s caught the eyes of many, China has placed Shein, the global online retail giant, under the microscope as it prepares for an Initial Public Offering (IPO). This scrutiny isn’t just […]
In a significant move to address the increasing prevalence of vaping among young people, the UK government has announced plans to ban disposable vapes. This decision comes as figures from Action on Smoking and Health […]
Before diving into the remarkable performance of hedge funds in 2023, it’s essential to understand what a hedge fund is. A hedge fund is a type of investment fund that pools capital from accredited individuals […]
China’s economy grew by 5.2% in the fourth quarter of 2023, falling slightly short of the anticipated 5.3% growth and highlighting ongoing challenges in its economic recovery. Despite this, the full-year growth for 2023 reached […]
China’s BYD (Build Your Dreams) has made a historic leap in the electric vehicle (EV) sector, surpassing Tesla to become the world’s largest EV maker. This shift signals a major transformation in the automotive industry, […]
In Zimbabwe, small businesses are facing a major economic challenge due to soaring internet costs. Econet Wireless Zimbabwe, a primary mobile operator, recently doubled its data prices, causing a significant strain on entrepreneurs like Joyce […]
Barclays Bank has embarked on a significant restructuring process, reducing its global workforce by 5,000. This decision forms part of the bank’s strategic initiative to cut costs and improve profitability. The reduction, affecting a substantial […]
Major Japanese automotive manufacturers have pledged an investment of 150 billion baht ($4.34 billion) into Thailand over the next five years. This substantial investment is aimed at bolstering Thailand’s transition to electric vehicle (EV) production, […]
Kentucky’s renowned bourbon industry is under threat of a substantial 50% tariff on exports to the European Union. This looming tariff, a potential outcome if the Biden Administration and EU do not finalize a trade […]
McDonald’s is taking a bold step into the future of fast food with the launch of CosMc’s, a groundbreaking concept restaurant. The initial glimpse into this innovative venture begins with a soft opening in the […]
In a groundbreaking collaboration, LEGO has joined forces with the popular online shooting game, Fortnite, to introduce a unique game mode. This new offering, titled “Lego Fortnite,” is expected to provide stiff competition to Minecraft, […]
Saudi Arabia has recently unveiled a compelling tax incentive program, providing a 30-year exemption from corporate income tax for foreign companies moving their regional headquarters to the Kingdom. This initiative is a part of Saudi […]
In a significant policy reversal, New Zealand’s government plans to scrap the “generational smoking ban,” a groundbreaking law aimed at curbing smoking rates. Initially passed in 2022, the law intended to progressively raise the minimum […]
The world is currently facing a significant surge in sugar prices, reaching levels unseen since 2011. This escalation, largely due to reduced global supplies following unfavorable weather in key sugar-exporting countries like India and Thailand, […]
Japan’s economy, the world’s third-largest, contracted at an annual pace of 2.1% in the third quarter of 2023. This contraction, marked by weakened consumption and investment, represents a significant downturn from previous quarters. Notably, private […]
In the vibrant city of Copenhagen, known for its culinary prowess, a group of young entrepreneurs launched a revolutionary startup, Too Good To Go (TGTG), to address a critical global issue: food waste. This innovative […]
The global trade ecosystem is witnessing a seismic shift, with ‘Made in India’ labels becoming increasingly prominent on American shelves, a terrain once dominated by ‘Made in China’ products. This transformation, captured in a comprehensive […]
WeWork, the co-working giant that once boasted a valuation of $47 billion, has filed for Chapter 11 bankruptcy. The company, which has been struggling with a net long-term debt of $2.9 billion and over $13 […]
The Bank of England has signaled a tough road ahead for the UK, maintaining interest rates at 5.25% amidst a stagnating economy and persistent inflation. This decision comes at a critical juncture as the country […]
Apple, the tech giant known for its iPhones and MacBooks, is bracing for its fourth consecutive quarterly revenue decline. As the company prepares to report its earnings, Wall Street anticipates a slight dip in sales […]
What is a Social Enterprise? In a world dominated by profits and financial charts, imagine a business model that cares not just about the bottom line, but also about making a positive impact. That’s the […]
Billionaires around the world might need to keep a closer eye on their bank accounts. A recent report by the EU Tax Observatory suggests that some of the world’s wealthiest individuals are paying little to […]
Germany is witnessing a positive shift towards gender equality in its corporate world. A recent report by the AllBright Foundation highlighted that there has been an increase in the number of women joining executive boards […]
Rolls-Royce, the renowned engineering giant, has unveiled plans to cut up to 2,500 jobs worldwide in a bid to create a “more efficient and effective” organization. This decision marks the first significant action by Tufan […]
Microsoft has successfully closed its $69 billion deal to acquire Activision Blizzard, a significant move in the gaming industry. This acquisition was finalized after receiving the green light from the UK’s Competition and Markets Authority […]
ExxonMobil, a giant in the oil industry, has struck a deal to acquire Pioneer Natural Resources, a major shale oil producer, in a move that will notably expand Exxon’s presence in the Permian Basin, located […]
Trade relations between Colombia and Venezuela are on the rise, with projections indicating that trade could reach between $800 million and $1 billion this year. This optimistic forecast was shared by Colombia’s Trade Minister, German […]
Dr. Martens, the iconic bootmaker, is stepping up its sustainability game by launching a shoe repair service in the UK. This move is aimed at encouraging customers to prolong the life of their boots, thereby […]
Lego, the renowned toy manufacturer, has decided to abandon its initiative to produce bricks from recycled bottles. This decision comes as a setback to the company’s ambitious goal to reduce carbon emissions. In 2021, Lego […]
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