Despite the relaxation of Covid-related restrictions, the majority of Chinese people still don’t want to leave their apartments, according to a survey by Oliver Wyman. According to a survey conducted over the weekend, more than 90% of consumers said they were staying home. For at least the upcoming few months, nearly 60% of respondents said…
According to a Mastercard report released on Monday, US retail sales increased 7.6% between Nov. 1 and Dec. 24, which is the majority of the holiday season, as steep discounts enticed deal-hungry shoppers. The growth is greater than the 7.1% expansion Mastercard (MA.N) predicted in September, when it thought consumers would delay purchases until October…
The largest farmers’ organization in Italy is fighting the “scandalous” use of mafia terms to market a range of food and beverage items around the globe, including Cosa Nostra whiskey and Chilli Mafia tomato sauce. After conducting a thorough investigation, Coldiretti found that nearly 300 restaurants outside of Italy have names inspired by the mafia,…
TikTok will no longer be allowed on US government-owned devices under the bipartisan spending bill that was approved by both chambers of Congress on Friday, underscoring the growing concern about the well-known video-sharing app owned by China’s ByteDance. The bill, which still needs to be signed into law by President Joe Biden, also requires businesses…
Following the collapse of the FTX exchange, which lowered valuations and dampened investor interest, Goldman Sachs plans to spend tens of millions of dollars to buy or invest in crypto companies. The implosion of FTX has increased the demand for more trustworthy, regulated cryptocurrency players, and big banks see an opportunity to pick up business,…
Assa Abloy AB has announced that it will sell its Yale and Emtek lock brands, as well as its residential businesses in the United States and Canada, to Fortune Brands Home & Security in an all-cash $800 million transaction as it seeks to overcome antitrust opposition in the United States to its acquisition of a…
After missing earlier deadlines, Elon Musk has announced that a wireless brain chip developed by his company Neuralink will begin human clinical trials in six months. The company is working on brain chip interfaces that it claims will allow disabled patients to move and communicate again, with Musk adding on Wednesday that it will also…
According to Reuters, International Holding Company (IHC) plans to sell 20% of its technology unit in an initial public offering next year, with the UAE’s IHC aiming for a first quarter IPO of Pure Health to raise more than $1 billion. IHC has been on a consolidation and acquisition spree since rising from relative obscurity…
Policymakers at the European Central Bank feared that inflation was becoming entrenched at their most recent policy meeting, so rates would need to rise further, according to meeting accounts released on Thursday. The ECB raised interest rates by 75 basis points to 1.5% at the meeting to combat sky-high inflation, bringing its total hikes since…
Some Google employees are concerned that they will be the next victims of industry-wide layoffs. While Google has so far avoided the widespread job cuts that have afflicted other tech companies, particularly those bolstered by a slumping ad market, internal anxiety is rising, according to documents obtained by CNBC and employees who spoke on the…
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