Behind the IMF's warning to Biden and Congress on deficit spending
The IMF alarm about US fiscal slippages and growing public debt, impact on global economy. Costly servicing US debt increases with deficit spending. [ more ]
Now Fully Normalized: Sportswashing the Bonesaw with Golf - emptywheel
[ NB: check the byline, thanks./~Rayne] Golf as a professional sport now has completely lost its way.The Professional Golf Association and Saudi-funded LIV Golf announced they are merging.The controversial Saudi Public Investment Fund will make an investment into the new merged company "to facilitate its growth and success."
Can the G7 take a united stance on China? DW 05/18/2023
Leaders of the Group of Seven (G7) a club of some of the world's major industrialized nations are gathering in the Japanese city of Hiroshima from Friday for their annual summit.The West's relationship with China amid Beijing's expanding economic and political clout, Russia's war in Ukraine, and the troubled state of the global economy are set to top the agenda of their discussions.
UK economy still lagging behind other nations despite upgraded forecast
The UK economy will continue to lag behind other countries in the group of seven (G7) advanced economies this year, despite improved growth projections, new analysis has shown.Only Germany, which fell into a recession over the start of the year and is set to stagnate throughout 2023, will perform worse than the UK.
The Ukraine grain deal is extended 2 months, helping ease the global food crisis
Workers load grain at a port in Izmail, Ukraine, on April 26.A United Nations-backed deal has been extended allowing shipments of Ukrainian grain through the Black Sea to parts of the world struggling with hunger.Andrew Kravchenko/AP An agreement allowing Ukrainian grain exports to ship through the Black Sea to help ease global hunger has been extended for two months just a day before its expiration overcoming Russia's threats to pull out of the deal.
Oppo confirmed its Shanghai-based chip subsidiary Zeku will be closed down due to "uncertainty in the global economy and the smartphone industry".The chip design company was responsible for the development of the MariSilicon series of chips which included the MariSilicon X ISP and MariSilicon Y audio chip.
World Bank Projects Weak Global Growth Amid Rising Interest Rates
The World Bank said on Tuesday that the global economy remained in a precarious state and warned of sluggish growth this year and next as rising interest rates slow consumer spending and business investment, and threaten the stability of the financial system.The bank's tepid forecasts in its latest Global Economic Prospects report highlight the predicament that global policymakers face as they try to corral stubborn inflation by raising interest rates while grappling with the aftermath of the pandemic and continuing supply chain disruptions stemming from the war in Ukraine.
Biden Says Debt Ceiling Talks Are Moving AlongBut We're Not There Yet'
JOINT BASE ANDREWS, MDPresident Joe Biden said that talks with Congress on raising the U.S. government's debt limit are moving along, but more will be known about their progress in the next few days.We've not reached the crunch point yet but there's real discussion about some changes we all could make, Biden told reporters Saturday before boarding Air Force One en route to Rehoboth Beach, Del.
Why China is unlikely to rescue the world economy again DW 05/13/2023
As the rest of the world teeters on the brink of recession, the last thing Western policymakers want is for China, the biggest driver of global economic growth since the 2008 financial crisis, to have a lopsided recovery.But that is what is unfolding.After abandoning its thee-year zero-COVID policy in December, the world's second-largest economy isn't exactly firing on all cylinders.
Clarence Page: Congress finds virtue in compromise - at last
After four months of political wrangling, eyeball-to-eyeball negotiations and mounting anxiety in both parties about the "debt ceiling," Congress finally has found enough common ground to pay its bills.But how long will these good tidings last?First, it helps to understand just what the debt ceiling is.
Congress must address debt ceiling by June 5, Yellen warns
If Congress does not address the debt ceiling by June 5, the US Treasury Department will not have enough funds to pay all of the nation's obligations in full and on time, Treasury Secretary Janet Yellen said Friday.Based on the most recent available data, we now estimate that Treasury will have insufficient resources to satisfy the government's obligations if Congress has not raised or suspended the debt limit by June 5, she wrote in a letter to House Speaker Kevin McCarthy and other congressional leaders.
Debt ceiling talks break down and attacks escalate as deadline approaches
Biden aides offered what they viewed as a key concession by proposing that Congress hold flat it's spending on defense, as well as a series of domestic programs including housing aid, education and scientific research.The White House - which earlier this year sought major increases by raising taxes - said that the adjustment would instead amount to a cut because of year-over-year inflation.
Concern over debt limit talks follows Biden to Group of 7 meeting in Japan
President Joe Biden faces his fellow world leaders Friday in Japan under the shadow of a looming default on US debt, a scenario his advisers said risks subverting American leadership and sending the global economy into tailspin.The risk appears particularly acute as Biden works to rally fellow Group of 7 officials behind a shared approach toward Russia and China.
Joe Biden and Kevin McCarthy Expected to Resume Debt Limit Talks on Tuesday
Facing pressure to resolve the ongoing U.S. debt limit standoff, President Joe Biden said he expects to resume budget negotiations with congressional leadership on Tuesday, just one day before he leaves for the G7 summit in Japan.He declined to give details on where they stand in terms of a negotiated deal but said he believed an agreement could be reached with House Republicans to raise or suspend the debt cap before the U.S. runs out of cash, which the Treasury Department has said could happen as early as June 1.
Editorial: Again, US teeters at the fiscal cliff. Time to revive talk of a balanced budget amendment.
Broadsides to the global economy have myriad causes, not all within the control of governments.But when global economic pain is caused not by a devastating worldwide pandemic but by political pettiness and irresponsible governance, it's infuriating.Last week, Treasury Secretary Janet Yellen warned that America is poised to default on its $31.4 trillion debt by June 1.
Biden meets with Indo-Pacific leaders at G7 amid US debt limit crisis
President Joe Biden, right, and Australia's Prime Minister Anthony Albanese meet on the sidelines of the G7 Summit in Hiroshima, Japan, Saturday, May 20, 2023.Susan Walsh, AP President Joe Biden was seeking to rally regional cooperation against China on the margins of the Group of Seven summit Saturday, while confronting a stalemate in Washington over how to ensure the US avoids default.
Covid is no longer a global health emergency - WHO
COVID-19 no longer represents a global health emergency, the World Health Organization said on Friday, a major step towards the end of the pandemic that has killed more than 6.9 million people, disrupted the global economy and ravaged communities."Yesterday, the Emergency Committee met for the 15th time and recommended to me that I declare an end to the public health emergency of international concern.
Biden to visit Poland around Ukraine war anniversary
(CNN)President Joe Biden will visit Poland this month to mark the one-year anniversary of Russia's invasion of Ukraine, returning to the region as the war enters a volatile new phase without a clear path to peace.The president is planning to visit Poland from February 20-22.The White House said he would meet Polish President Andrzej Duda and other leaders from the region.
Ukraine updates: Zelenskyy thanks Italy's Meloni in Rome DW 05/14/2023
Ukrainian President Volodymyr Zelenskyy embarked on a crucial diplomatic mission to Italy and the Vatican Saturday, where he held talks with senior officials in the Italian government and the Roman Catholic Church.Upon his arrival, Zelenskyy tweeted that it was "an important visit for approaching victory of Ukraine."
Ukraine updates: Zelenskyy meets with Meloni, pope in Rome DW 05/13/2023
Ukrainian President Volodymyr Zelenskyy has embarked on a crucial diplomatic mission to Italy and the Vatican, where he is expected to hold talks with senior officials in the Italian government and the Roman Catholic Church.Upon his arrival, Zelenskyy tweeted that it was "an important visit for approaching victory of Ukraine."
Ukraine updates: Volodymyr Zelenskyy arrives in Rome DW 05/13/2023
Ukrainian President, Volodymyr Zelenskyy, is embarking on a crucial diplomatic mission to Italy and the Vatican, where he is expected to hold talks with senior officials of the Italian government and the Roman Catholic Church.A possible meeting with Pope Francis is particularly significant, given the Pontiff's recent disclosure of the Holy See's push to end the war in Ukraine.
Stock market hit by worst day since Covid amid fears of new banking crisis
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Fears the global economy might be hit by a fresh banking crisis wiped billions of pounds off the value of top firms on Wednesday amid growing uncertainty over the future of troubled Credit Suisse.
Bitcoin dropped to a two-week low on Feb. 9, with prices falling below the $23,000 mark after a brief rally on Wednesday.Cryptocurrencies moved lower across the board, as uncertainty surrounding the state of the global economy impacted investor confidence.Ethereum also slipped, following a move towards $1,700 during yesterday's session.
Why China cannot bail out the world economy again DW 05/12/2023
As the rest of the world teeters on the brink of recession, the last thing Western policymakers want is for China, the biggest driver of global economic growth since the 2008 financial crisis, to have a lopsided recovery.But that is what is unfolding.After abandoning its 3-year zero-COVID policy in December, the world's second-largest economy isn't exactly firing on all cylinders.
Japan to chair G7 talks on pressuring Russia over Ukraine
Financial leaders of the G7 will meet on Thursday to discuss measures aimed at pressuring Moscow to end war.Financial leaders of the G7 will meet on Thursday to discuss measures to pressure Russia to end the Ukraine war, Japan's Finance Minister Shunichi Suzuki has said.Japan will chair the meeting of finance ministers and central bank governors from the G7 nations in the Indian city of Bengaluru.
San Jose hotel project site is seized in real estate loan foreclosure
SAN JOSE A foreclosure auction has cleared the way for a South Korea-based group to take ownership of a San Jose site where a hotel with hundreds of rooms has been approved yet never built.The hotel development property was bought for $27.6 million by the owner of the foreclosed loan, a group operating out of South Korea, after a brief public auction that was held in downtown San Jose on April 26.
AsZelensky Visits Kherson, World BankSaysUkraine Needs$411 Billionto Rebuild
President Volodymyr Zelensky of Ukraine traveled to the southern region of Kherson on Thursday in his second trip near the front line in two straight days, visiting areas ravaged by Russia's campaign to destroy energy infrastructure.Mr. Zelensky's visit, which he chronicled on the Telegram messaging app, came a day after his trip to the contested eastern city of Bakhmut and as the World Bank released a report that put the cost of rebuilding Ukraine at $411 billion a substantial increase from the $349 billion figure the bank released in September.
ANALYSIS | What Russia's economic resilience means for the war in Ukraine | CBC News
Since the Russian invasion of Ukraine nearly a year ago, attempts have been made to clobber its economy.Russian businesses have been cut off from vast tracts of the Western world.Its oligarchs have been sanctioned and had their yachts seized.And yet, by almost every measure, the Russian economy has weathered the last year much better than almost anyone expected.
Pranksters posed as Zelensky in a call with the Federal Reserve chairman.
WASHINGTON Pranksters posing as President Volodymyr Zelensky of Ukraine tricked the chair of the Federal Reserve, Jerome H. Powell, into having a conversation with them in January, according to video clips covered on Russian state television and posted online.The ruse apparently carried out by two Russian comedians who support President Vladimir V. Putin involved asking Mr. Powell questions about the American and global economy.
Russia Calls for Prevention of 'Full-Scale World War III' Official Warns 'World Tensions Are White-Hot' Economics Bitcoin News
A top Russian official has urged all countries to make efforts to ensure that the threat of global confrontation, of a hot, full-scale World War III does not materialize.World tensions are white-hot indeed, he warned.Russian Official: Full-Scale World War III Should Not Materialize The deputy chairman of Russia's Security Council, Dmitry Medvedev, urged all countries to make efforts to avoid the outbreak of a new, full-scale global conflict Tuesday while addressing participants in the Znanie (Knowledge) educational marathon.
Russian forces claim some progress in eastern Ukraine
Russian forces claimed some battlefield success on Wednesday, as Moscow's invasion of Ukraine laboured to gain momentum almost a year after it began.he Russian Defence Ministry said its troops broke through two Ukrainian defensive lines in the eastern Luhansk region and pushed back Ukrainian troops some three kilometres (two miles), forcing them to leave behind equipment and the bodies of those killed.
As G-20 ministers gather in Delhi, Ukraine may dominate despite India's own agenda
A man walks past a wall mural of Humayun's Tomb under the logo of the Group of 20 summit, in New Delhi on Jan. 4. Sajjad Hussain/AFP via Getty Images India is basking in its role as host of this week's G-20 foreign ministers' summit, but hoping its agenda doesn't get dominated by the Ukraine war.As president of the Group of 20 (G-20) major economies, India wants to steer the agenda for Wednesday's summit start toward priorities for the Global South: climate change, food security, inflation and debt relief.
Marjorie Taylor Greene shouts 'Liar!' during Biden State of the Union address
WASHINGTON President Joe Biden's State of the Union address Tuesday night was briefly interrupted by shouts from Republican Rep. Marjorie Taylor Greene, and a few other Republicans, who accused him of lying while discussing the debt crisis facing the nation.The Republican outbursts came as Biden addressed the ongoing conflict in Congress over raising the debt limit.
Biden unveils campaign-friendly budget plan as debt ceiling feud simmers with Republicans
President Biden unveiled a populist budget plan Thursday as the White House and congressional Republicans remain locked in a game of chicken over spending priorities and raising the debt ceiling to avoid a catastrophic default.The spending plan, which is sure to be used as a clarion call in Biden's expected 2024 reelection bid, calls for a dramatic $3 trillion cut in the deficit, fueled mostly by increased taxes on corporations and the very wealthy.
Major currencies worldwide have fallen against the strong U.S. dollar due to Fed rate expectations, impacting global economy and necessitating dollars for better returns. [ more ]
UN expert attacks exploitative' world economy in fight to save planet
The global economy's dependence on exploitation hinders environmental progress, leading to potential lawsuits for states failing to act on climate issues. [ more ]
The significant events in the global economy over the past week
The US stock market saw a rebound driven by strong earnings reports, while Europe's financial markets also experienced growth amid positive corporate earnings. [ more ]
Argo Blockchain Slumps to Full-Year Loss on Bitcoin Price Slide
Argo Blockchain (ARB), the only U.K.-listed cryptocurrency miner, slumped to a full-year loss in 2022 as the price of bitcoin fell and mining difficulty increased, driving up costs.The London-based company reported a net loss of 194.2 million British pounds ($240 million) compared with net income of 30.8 million pounds the year before, it said in a statement.
Top bosses want you back in the office - like, right now - The Hustle
Let's recap the last few weeks:
IBM's Arvind Krishna: "Your career does suffer" when you work remotely.OpenAI's Sam Altman: Going fully remote was "one of the tech industry's worst mistakes" and "the experiment on that is over."Lyft's David Risher, reneging on the company's flexible-work policy: "Things just move faster when you're face to face."
3 Ways to Succeed in the Rapidly Changing AI Landscape | Entrepreneur
AI sector is growing rapidly, with startups raising billions and global spending projected to reach $150 billion in 2027.
AI is expected to contribute $15.7 trillion to the global economy by 2030, emphasizing the need for effective privacy policies and regulatory awareness. [ more ]
AI will transform the global economy: let's make sure it benefits humanity
AI has the potential to replace jobs and deepen inequality, but it can also boost productivity and raise incomes.
Almost 40% of global employment is exposed to AI, with advanced economies facing greater risks and opportunities compared to emerging markets. [ more ]
Nearly half of CEOs fear their companies won't survive 10 years due to AI and climate change
Executives are feeling better about the global economy, but a growing number don't think their companies will survive without a major overhaul due to climate change and technology like AI.
38% of CEOs are optimistic about the strength of the economy, up from 18% last year. However, 45% of CEOs are worried that their businesses won't be viable in a decade without reinvention. [ more ]
UN chief: 'Cold, hard facts' should guide climate policy
FILE - A woman leads her goats as Suralaya coal power plant looms in the background in Cilegon, Indonesia, Sunday, Jan. 8, 2023.The head of the United Nations called Monday, March 13 for scientists to serve up "cold, hard facts" to push governments into taking policies that curb climate change before a key global warming threshold is passed.
Rapidly decarbonise': Energy industry must lead climate fight
UAE's COP president says oil-and-gas industry must take charge of the battle against planetary warming.The oil-and-gas industry must lead the fight against climate change, the president of this year's United Nations climate talks says.Addressing hundreds of oil-and-gas executives at the CERAWeek conference in Houston, Texas, on Monday, Sultan al-Jaber, said, No one can be on the sidelines and this industry, in particular, is integral to developing the solutions.
From empty dealer lots to sky-high prices, here's why Canada's new car market is still a mess | CBC News
Just as it did for nearly every facet of the global economy, the pandemic plunged Canada's new car market into upheaval, throwing supply and demand completely out of whack.Factory shutdowns due to COVID-19 made for widespread shortages of parts, filtering down to a historic lack of finished vehicles for sale on dealer lots.
Op-ed: How to get off to the right start with a new grandchild
More than four years ago, I became a grandfather.Later this year, I'll become a grandfather again.The question is, what have I learned from my first stint in this role that I should apply to my second go-round?For starters, avoid asking your future grandson if he likes grandma better than he does you.
Our Response to the Decision on Facebook's EU-US Data Transfers | Meta
The ability for data to be transferred across borders is fundamental to how the global open internet works.From finance and telecommunications to critical public services like healthcare or education, the free flow of data supports many of the services that we have come to rely on.Thousands of businesses and other organisations rely on the ability to transfer data between the EU and the US in order to operate and provide services that people use every day.
Renewable energy surges, driven by solar boom and high fuel prices, report finds
The world is set to add a record amount of renewable electricity capacity this year as governments and consumers seek to offset high energy prices and take advantage of a boom in solar power, according to a new report Thursday.The International Energy Agency said high fossil fuel prices resulting from Russia's attack on Ukraine and concerns about energy security had boosted the rollout of solar and wind power installations, which are expected to reach 440 gigawatts in 2023.
Europe sees inflation drop to 6.1%, but real relief for consumers will take months
Europe's inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities.The annual figure in May eased from 7% in April for the 20 countries that use the euro currency, the European Union's statistical agency Eurostat said Thursday.
UN chief: 'Cold, hard facts' should guide climate policy
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails The head of the United Nations called Monday for scientists to serve up cold, hard facts to push governments into making policies that curb climate change before a key global warming threshold is passed.
UK's first post-Brexit trade deals with Australia and New Zealand now in place
The UK's trade deals with Australia and New Zealand came into force at midnight, with special shipments of British goods such as signed Beano comics among the first to be sent under the new arrangements.The agreements are the first trade deals negotiated post-Brexit to enter into force and come after the UK, Australia and New Zealand completed their domestic ratification processes.
UK's first post-Brexit trade deals with Australia and New Zealand now in place
The UK's trade deals with Australia and New Zealand came into force at midnight, with special shipments of British goods such as signed Beano comics among the first to be sent under the new arrangements.The agreements are the first trade deals negotiated post-Brexit to enter into force and come after the UK, Australia and New Zealand completed their domestic ratification processes.
What do the tech sector redundancy rounds mean for international employees working in the UK? | Computer Weekly
The technology sector is a significant UK employer competing for the very best talent from around the world.Yet it is not immune to the slowdown in the global economy, with many businesses having announced plans for mass workforce reduction.Individuals that have chosen to relocate to the UK to develop their careers sponsored by their employers face not only losing their job but their right to remain in the UK.
Climate Change Is Exacerbating Inflation Worldwide
CLIMATEWIRE | Climate change is accelerating inflation in dozens of countries around the world, new research says.And the trend is expected to continue as the world heats up.So says a report published last week by the European Central Bank.The researchers set out to examine the impacts of global warming on inflation in 121 countries, and they found that higher than average temperatures are driving up the cost of food and other goods and services.
The United States is inching closer to calamity, as lawmakers continue to spar over what it will take to raise the country's $31.4 trillion debt limit.That has raised questions about what would happen if the United States does not raise its borrowing cap in time to avoid defaulting on its debt, along with how key players are preparing for that scenario and what would actually happen should the Treasury Department fail to repay its lenders.
US bolstering defense posture in the Persian Gulf after Iran seized two merchant ships in recent weeks
The US will bolster its defensive posture with heightened patrols in the Persian Gulf after destabilizing actions by Iran this past month to interfere with and seize commercial vessels transiting the Strait of Hormuz and other strategic waterways, according to a US National Security Council spokesperson.
WASHINGTON President Biden and Speaker Kevin McCarthy emerged from a critical meeting at the White House on Tuesday with no consensus on how to end their impasse over the federal debt and spending just weeks before the nation is set to default on its obligations for the first time in history.With the American and perhaps the global economy hanging in the balance, the meeting was the first such session between the Democratic president and Republican speaker since February.
Diesel is cheaper than regular gas right now thanks to a 'freight recession' | CBC News
After soaring to record highs last year, diesel prices have fallen significantly in recent months, which experts say could signal a slowdown economy.A downturn in the trucking and rail industries is one of the reasons the price of diesel has fallen by about one-third in the last six months.Cheaper fuel prices could help cool the rate of inflation and provide some relief to consumers.
Inflation rate drops to 5.2% in February but grocery prices are still up | CBC News
Canada's inflation rate cooled to 5.2 per cent in February, the largest deceleration since April 2020, according to Statistics Canada.The agency said its consumer price index had a year-over-year deceleration from February 2022, when the inflation rate was 5.7 per cent.The reading compared with an annual inflation rate of 5.9 per cent in January and was the lowest reading since January 2022, when it was 5.1 per cent.
For Super Bowl ads this year, booze reigns supreme and crypto disappears | CBC News
The hottest ticket in town for advertisers is officially sold out.Fox said on Monday that in-game ads for Super Bowl LVII have all been sold.The big game between Kansas City and the Philadelphia Eagles takes place on Sunday.The Super Bowl is advertising's biggest stage, with companies jockeying to get their products in front of the more than 100 million people that watch each year.
Do You Work in a Climate-Focused Job? Tell Us About It.
The climate crisis is changing the global economy.Green industries and job opportunities are increasing in and expanding to a variety of sectors, including energy, construction and education.Are you working in a climate-focused job?If so, we'd love to hear from you.We're asking readers who work in climate: How did you find your current position?
2022 global recorded music earned $31B, grew 6.7%: MIDiA Research - RAIN News
UK-based MIDiA Research released its annual report of global recorded music revenue.The main points:
$31.2-billion total revenue $20-billion is from streaming music - 64.1% of total revenue $9.2-billion earned by major label UMG $10.8-billion revenue for indie labels and Artists Direct distribution Artists Direct share of total is 5.7%
MIDiA's numbers are broadly similar to the recently reported full-year 2022 revenue report from IFPI (RAIN coverage HERE.)
Stop moaning' and show ambition on green energy, Miliband to tell Government
Ed Miliband will call on the Government to stop moaning about Joe Biden's green investment plan when he sets out Labour's plan to match the Inflation Reduction Act.The shadow climate secretary will use a speech on Tuesday to stress Labour's ambition on green investment, amid pressure on the Government to deliver a set of policies that would drive investment in low-carbon technology and match the Inflation Reduction Act in the US and the Green Deal Industrial Plan in the EU.
Modi urges G20 finance leaders to focus on 'most vulnerable'
For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Policymakers of the Group of 20 leading economies should focus on helping the world's most vulnerable people, Prime Minister Narendra Modi said Friday as top-level financial talks kicked off in the Indian technology hub of Bengaluru.
Getty Images The Federal Reserve raised a key interest rate one-quarter of a percentage point on Wednesday, the same level of an increase as in its previous meeting seven weeks ago.Repeating that small hike might not seem dramatic, but after a turbulent couple of weeks for the global economy, the 25-basis-point boost is a pretty big deal.
Stripe Raises New Funding That Values It at $50 Billion
Stripe, a San Francisco payments provider and one of the world's most valuable private companies, said on Wednesday that it had raised new funding that values it at $50 billion, down from $95 billion in 2021, in a sign of how the air has come out of start-up dealmaking.The start-up, which provides payment processing software to companies including Amazon, raised $6.5 billion in its new financing from investors including Andreessen Horowitz, Founders Fund and Thrive Capital.
These 2 Monster Metaverse Stocks Are Crushing the Nasdaq in 2023
The metaverse was the talk of the technology sector over the last few years as stock market pundits outlined scenarios that involved virtual worlds generating trillions of dollars in value in the decades to come.But 2022 delivered a different reality.The economy suffered a slowdown, and enthusiasm for long-shot tech projects that won't be profitable in the foreseeable future hit a low point.
A year of war: Los Angeles Times photographers document the battle in Ukraine
Almost everyone in Ukraine can recall some vivid scrap of what they were feeling and doing last Feb.24, the day Vladimir Putin's army launched Europe's biggest land war since 1945, seeking to subdue a country that the Russian president claims is not in fact a country.In the early dark hours, as armored vehicles rumbled across the border and warplanes filled the skies, people were sleeping, bathing, making love, video-gaming, soothing a sick child.
By The ad agency holding company WPP is on the up and up and remains confident in its clients' continued investment in marketing projects despite a challenging macroeconomic environment.WPP is "well positioned to deliver sustainable, long-term growth" after seeing broad-based growth in 2022, said CEO Mark Read during the company's earnings report on Thursday.
Treasury Secretary Janet L. Yellen directly confronted senior Russian officials during a meeting of finance ministers of the Group of 20 nations on Friday, calling it a moral imperative to end the war in Ukraine.Her condemnation of the war was a rare direct interaction between American and Russian officials and occurred on the anniversary of a conflict that has divided the world and roiled the global economy.
$30 million of Funko Pop! toys will be thrown in the trash
Thirty million dollars worth of Funko (FNKO) Pop! figures those big-headed, vinyl pop-culture dolls will soon make their way into the hands of a new collector: The garbage collector.Funko said in its fourth quarter earnings report that a combination of waning demand for the toys and a surplus of inventory is creating financial trouble for the company.
BASF to Cut 2,600 Jobs After a Year of High Energy Costs
The chemical giant BASF announced plans on Friday to cut 2,600 positions, mainly in Germany, as it reported a slide in earnings that it attributed to shifting global demand and a loss of the cheap Russian natural gas that has served as a backbone for the company for decades.BASF also said it would abruptly cut short a 3 billion-euro, or $3.2 billion, stock buyback program begun in January 2022.