The Bank of Japan (BoJ) maintained its accommodative monetary policy on Friday. This puts the rate of the country’s central bank at odds with that of other central banks worldwide, which are raising interest rates to curb sky-high inflation. For example, the US Federal Reserve announced its strongest rate […]
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Tech Companies Down Again on Asian Stocks
Asian stocks fell again on Tuesday after the continued sell-off on Wall Street. Fears that the US Federal Reserve will intervene harder than expected to combat high inflation have gripped markets. The Fed will make an interest rate decision on Wednesday and may then raise interest rates by 0.75 […]
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UK Economy Contracted for Second Month in a Row in April
Fears that the British economy will end up in recession have increased again. The economy shrank for the second month in a row in April under the pressure of sky-high inflation. In addition to rising prices, supply chain problems are also hampering business activity in the country. According to […]
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Volkswagen Offers Russian Employees A Severance Package
The German automaker Volkswagen would offer workers at one of its Russian factories compensation if they left the factory voluntarily. That writes the Russian newspaper Kommersant. According to the newspaper, the offer would in some cases amount to six months’ salary for the approximately 200 employees at the factory […]
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Australia Raises Interest Rates Again to Fight Inflation
The Australian central bank has again raised its key interest rate in the country. It was the second interest rate hike in a row. With the increase, the central bank wants to combat high inflation in the country. Like many other countries, Australia is struggling with rising food and […]
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Asian Investors Fear Central Banks Inflation Approach
Stock markets in Asia were mostly down on Thursday. Investors were cautious after new signals that central banks like the US Federal Reserve are looking to step up their efforts to tackle high inflation. There are fears that this could affect economic growth. Furthermore, the financial markets reacted to […]
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McDonald’s has Found a Buyer for 850 Restaurants in Russia
McDonald’s has signed a deal with Alexander Govor, the owner of 25 Siberian fast-food chain franchises, to acquire all of its restaurants in Russia. The American company had closed all restaurants in the country after the Russian invasion of Ukraine. Govor will take over the nearly 850 McDonald’s restaurants […]
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White House Lashes Out at Amazon Boss Jeff Bezos: World’s Richest Men is Against Economic Reform
The White House has struck a chord with Amazon founder Jeff Bezos after he publicly criticized the fiscal and economic policies of President Joe Biden’s administration on Twitter. “It doesn’t take much imagination to imagine why one of the richest men on Earth is against middle-class economic improvements,” said […]
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European Commission: Get Rid of Oil This Year, Hit Russia and Western Helpers
The European Commission wants to ban the import of crude oil from Russia within six months and that of petrol and other oil products by the end of the year. She also proposes to cut off three major banks from the international payment service SWIFT and to tackle European […]
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Higher Sales Prices Beneficial for Mercedes-Benz
The German car group Mercedes-Benz benefited in the past quarter from higher sales prices and good sales of more expensive models. As a result, the company was able to compensate for headwinds caused by, among other things, the chip shortages in the car industry and the war in Ukraine. […]