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Asia factories hit by tariff shock and softer demand — what pushed activity down and what’s next 09/01/2025

India and China edge toward détente as diplomacy, economics and pragmatism drive thaw 09/01/2025

ExxonMobil expects global oil production to decline by 15% per year without new investment 09/01/2025

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Business & Finance

US will hold Amazon accountable for price hikes

Washington Attorney General Karl Racine has announced the filing of an antitrust lawsuit against Amazon Corporation. He said the company's policies were driving up prices for consumers, CNBC reported. The grounds for the lawsuit were price agreements, which, according to the plaintiffs, prevent the...

Marks & Spencer closes shops after loss-making year

UK retailer Marks & Spencer (M&S) reported its fiscal year 2020/21, which ended in early April. It posted a loss of £201.2m ($285.1m) for the period, compared with a profit of £27.4m a year earlier. Revenue for the year as a whole fell 11.9% to £9.2 billion ($13 billion), with revenue from the...

Washington DC Accuses Amazon Of Unfair Pricing Policies

The world’s largest retailer Amazon is facing a court case filed by Washington DC over charges that the company regularly misuses its powerful market position in the retailing industry. Consumers in the United States have to face higher prices because of the control of amazon on about 70...

Emirates Warns Of Not Taking Deliveries Of Boeing’s 777x Jets Is Performance Commitment Not Met

If the 777x jets made by the United States based airplane maker Boeing were unable to meet the contractual performance commitments, Emirate airlines would not hesitate to refuse delivery of the planes. This warning was issued by the chief of the Emirates airline which is one of the largest...

Japan’s Nipro Sign Covid-19 Vaccine Deal For Japan With AstraZeneca

An agreement has been struck between AstraZeneca Plc and Nipro Corp for supplying of the Covid-19 vaccine developed by the British-Swedish company in partnership with the University of Oxford in Japan, the Japanese firm said on Wednesday. The contract between the two companies was related...

GM’s Relations With Suppliers Enhanced Last Year Despite Pandemic, Shows A Study

An annual North American survey released on Monday showed that the United States auto making company General Motors Co had strengthened its relations with its suppliers throughout last year even in the wake of a severe impact of the Covid-19 pandemic as well as the semiconductor chip shortage...

Tough Chinese Stand Forces Crypto Miners To Halt China Business

Following the announcement by Chinese authorities about a crackdown on bitcoin mining and trading, crypto currency miners have halted their China operations. The crypto currency mining firms include HashCow and BTC.TOP. This decision hit the value of the digital currencies in the backdrop of...

Big US Banks Confident Of Post-Pandemic Rebound Of Credit Card Usage

With the easing of pandemic restrictions and with the stimulus checks from the United States government ending, major banks in the US are getting ready to see an uptick in credit-card balances again this year which now puts the banking industry for a surge in one of its most profitable businesses....

Nine people become billionaires thanks to COVID vaccines

Sales of coronavirus vaccines have allowed nine owners of the companies that produce them to make billions, CNN reports. The biggest boost from vaccines was received by Moderna US CEO Stephane Bancel and BioNTech CEO Ugur Shaheen, who developed the vaccine with Pfizer. Both are now worth around...

Transition To 'Green' Trucks Will Result In Engine Job Losses, Predicts Daimler Truck

According to Daimler Truck Chief Executive Martin Daum, in the next 15 years, about half the jobs at Europe's truck engine plants will be lost because of the transition to zero emission fuel cell trucks. Daum consequently urged policymakers to take preparations for that eventuality...