A “very tight” labor market and unchecked inflation could force the United States Federal Reserve to raise interest rates sooner than expected and begin decreasing its overall asset holdings as a second economic brake, policymakers at the US central bank said last month. The minutes from the Fed’s Dec. 14-15 policy meeting, which were released on…
Services and repair work for the once one of its king business smartphones that were proudly exhibited by executives, politicians and millions of its fans worldwide in the early 2000s is being finally brought to an end by BlackBerry Ltd. This announcement heralded the end of an era as the concept of email and the…
A growth of 12.1 per cent in the global sale of cars of South Korea’s Hyundai Motor Co and affiliate Kia Corp would be registered by the companies in the current year, the two companies said in a statement on Monday. The companies however said that a global shortage of semiconductor chips used in cars…
Elon Musk has denied that his Starlink satellite broadband project takes up too much room in space. According to the Financial Times, “tens of billions” of satellites can be hosted in orbits close to Earth. After the president of the European Space Agency (ESA) said that Musk was “setting the rules” for the nascent commercial…
The first phase of its acquisition of Intel Corp’s NAND flash memory chip business has been completed by SK Hynix Inc, the South Korean company said. The company has already obtained regulatory approval for the deal from regulators in eight countries including from China. According to the deal, against the first phase of the acquisition,…
The latest Spider-Man film has turned out to be the first pandemic-era film to gross more than $1 billion at the worldwide box office. In addition, Spider-Man: No Way Home was named the highest-grossing film of 2021. The revenues garnered by the film were higher than The Battle of Lake Changjin, a Chinese-made Korean War epic that…
Selfridges, a British luxury department store business, is now being sold to a Thai retailer and an Austrian real estate company. According to the BBC, the sale for the majority of Selfridges Group is worth roughly £4 billion ($5.4 billion). The company is best known for its flagship department store on London’s Oxford Street, which…
Following a protest over a letter advising itds suppliers not to purchase items or labour from China’s Xinjiang region, Intel has issued an apology. In China, the letter form the company had triggered outrage and calls for a boycott. Following limitations imposed by “various countries,” Intel was “forced to ensure” that its supply chain did not use…
Following reporting slower than expected sales for its Alzheimer’s drug in the United States as hospitals complained that the price of the drug was too high and its benefits did not meet the costs, Biogen Inc dropped the price of the drugs by about 50 per cent to $28,200 for an average weight person. The…
The privately held footwear label Heydude si to be acquired by Crocs Inc in a deal worth $2.5 billion, Crocs said. This is a part of its strategy of the rubber clogs producer to cash in on the pandemic-driven rise in casual shoe demand. Consumers who were stranded at home during last year’s lockdowns swapped…
