The Bank of England announced its decision to maintain interest rates at 5.25%, signaling the possibility of future cuts due to a faster-than-expected decline in inflation. The Monetary Policy Committee voted 8-1 to keep rates steady, with one member advocating for a 25 basis point reduction to 5%. This marks a shift from previous meetings
World
Singapore has once again emerged as the happiest country in Asia, holding onto its title for the second consecutive year. The 2024 World Happiness Report, which ranks 143 places worldwide, placed Singapore in 30th position. The top spots were claimed by Finland, Denmark, and Iceland. This report, a collaboration between renowned researchers and well-being scientists,
Japan’s central bank, the Bank of Japan, made a significant move by raising interest rates on Tuesday for the first time since 2007. This decision marks the end of the world’s only negative rates regime, signaling a shift in the country’s monetary policy. The move came as a response to early signs of robust wage
China recently released economic data for the first two months of the year, showcasing positive results that exceeded analysts’ expectations. Retail sales saw a 5.5% increase, surpassing the forecasted 5.2%, while industrial production rose by a notable 7%, compared to the estimated 5% growth. Fixed asset investment also performed well, seeing a rise of 4.2%,
In a tough labor market like China’s, young job seekers are finding themselves resorting to unconventional methods to secure employment. One such method that has gained traction is the use of the dating app, Tinder, as a platform for networking and job hunting. While Tinder is traditionally known for facilitating romantic connections, an increasing number
North Korean leader Kim Jong Un made headlines recently when it was revealed that he was using a Russian luxury limousine gifted to him by President Vladimir Putin. This lavish gift, a high-end Aurus Senat limousine, was given to Kim by Putin during a summit in Russia back in February. The two leaders have been
Tesla, the electric vehicle maker, recently settled a racist discrimination lawsuit brought by Owen Diaz, a Black man who worked as an elevator operator at its factory in Fremont, California. The settlement, which was reached after a federal jury awarded Diaz $3.2 million in damages, was described as amicable by Attorney Lawrence Organ. However, the
Meal delivery firm Deliveroo recently reported a significant loss of £31.8 million ($40.7 million) in its full-year results, which indicates progress towards profitability compared to the previous year’s £294.1 million loss. The company’s adjusted earnings, which strip out the impact of one-off costs from its exit from some markets, stood at £85.4 million, surpassing the
Boeing’s recent crisis involving the Max aircraft has caused major concerns for some of its biggest customers, leading them to reassess their growth strategies for this year and possibly beyond. Airline CEOs have expressed their reservations about the impact of Boeing’s ongoing problems, which include quality control issues, delays in the production and certification of
Interest rate decisions across the globe are under intense scrutiny by investors, who are anticipating a series of rate cuts this year in response to the decreasing grip of inflation in most economies. The Economist Intelligence Unit has projected that while rates are expected to remain elevated through 2024, there could be a mild rollback