Major retailers Foot Locker, Hugo Boss, Nordstrom, and Victoria’s Secret all saw their share prices sag after they disappointed analysts’ sales estimates.
Author: admin (Kendrick Williams)
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EGYPT HIKES RATES, TANKING CURRENCY AND TEEING UP IMF DEAL
On 6 March, Egypt’s central bank jacked its key interest rate by six percentage points, the largest hike on record, bringing the rate to 27.25 percent in hopes of ending what Bloomberg has called “the worst economic crisis in decades.”
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JAPAN’S CONSUMER SPENDING DOWN FOR 11TH CONSECUTIVE MONTH
Japanese household spending sank by 6.3 percent in January, year on year, the largest monthly slide since February 2021.
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U.K. ENTERS TECHNICAL RECESSION
The U.K.’s economy contracted 0.3 percent in last year’s final quarter, which followed a 0.1-percent decrease in the second quarter, putting the nation into a technical recession, defined as two consecutive quarters of economic shrinkage.
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GERMAN FACTORY ORDERS SLID INTO JANUARY
Following an upward turn in December, orders for Germany’s factory goods dropped 11.3 percent in the first month of this year, data from the country’s Federal Statistics Office (FSO) showed.
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ECB HOLDS INTEREST RATES FIRM
At its meeting last week, the governing council of the European Central Bank (ECB) left the bank’s key interest rate at a record high of 4.50 percent and indicated the rate will not fall before June.
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CANADA’S BUSINESS BANKRUPTCIES SET 19-YEAR RECORD
In January, 759 Canadian businesses notified the government’s Office of the Superintendent of Bankruptcies that they have gone bust, 42 percent more than in December and a 129-percent surge year over year.
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BLOCKCHAIN BATTLES
The Bitcoin ETFs hadn’t been out for a month when pronouncements of their failure were being peddled by some in the media.
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BITCOIN ENERGY REDUX: BITCOIN ALSO FLOWS TO CHEAP ENERGY
As the price of Bitcoin stayed at or near record highs this past week, there was news and signs of interest and investment from all over.
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MICROSOFT ENGINEER STUNNED TO FIND AI MIMICS SOCIETY…AND VIOLATES COPYRIGHTS
In a recent interview with CNBC, a Microsoft engineer revealed that Microsoft’s Copilot generative AI image creator just isn’t complying with the “responsible AI principles” tech companies and the Biden administration have committed to ensuring.