Business

The term “zombie companies” refers to firms burdened with so much debt that they barely manage to stay afloat, unable to cover even the interest on their loans and just one bad hit away from going under. An analysis by the Associated Press found that the number of these struggling firms has surged to nearly 7,000 globally, with around 2,000 …

The European Central Bank (ECB) is expected to lead the way in reducing interest rates ahead of the U.S. Federal Reserve, marking the eurozone as the first major developed economy to ease borrowing costs for businesses and consumers as inflation from the Ukraine conflict begins to wane. ECB President Christine Lagarde, along with other officials, has indicated that a quarter-point …

Global markets climbed on Thursday following a record-breaking performance on Wall Street on Wednesday, driven by excitement around artificial intelligence (AI) technology. European markets saw gains as investors awaited the European Central Bank’s decision, anticipated to cut its key interest rate from the current high of 4%. France’s CAC 40 increased by 0.3% to 8,032.86, Germany’s DAX rose by 1% …

On Wednesday, Inditex, the parent company of Zara and the world’s largest fashion retailer, reported a record-breaking net profit for the first quarter, despite increasing competition from the online fashion retailer Shein. Inditex, which also owns brands like Bershka, Massimo Dutti, and Pull&Bear, has delivered strong financial results, with its share price climbing in recent months despite global inflation and …

Saudi Aramco, Saudi Arabia’s largely state-owned oil giant, is launching a new share offering, which comes at a critical time for the kingdom’s sweeping economic reforms that have struggled to attract foreign investment. The sale involves 1.545 billion shares and is anticipated to begin trading next week, potentially raising nearly $12 billion. This influx of funds is intended to support …

Expect an increase in flight costs in the near future. The International Air Transport Association (IATA), during its annual meeting in Dubai, has indicated that several factors are set to push airline ticket prices higher as the industry recovers from the disruptions caused by the COVID-19 pandemic. One of the primary drivers of these increased costs is global inflation, a …

Toyota Chairman Akio Toyoda issued an apology on Monday following the discovery of extensive cheating on certification tests for seven vehicle models, leading the company to halt production of three of those models. The faulty testing procedures at Japan’s leading automaker involved using inadequate or outdated data for collision tests, incorrect testing of airbag inflation, rear-seat damage assessments, and falsified …

Live Nation revealed in a regulatory filing on Friday that a hacker is selling purported user data primarily from Ticketmaster on the dark web. The parent company of Ticketmaster detected “unauthorized activity” on May 20 and immediately initiated an investigation with forensic experts to assess the potential breach. According to the filing, the data was put up for sale on …