Business

The British economy showed a robust recovery in the first quarter of the year, effectively ending the “technical recession” it had been experiencing, according to the latest data released by the Office for National Statistics on Friday. During this period, the economy expanded by 0.6%, surpassing economists’ forecasts of 0.4% growth. This marks the most significant quarterly growth since the …

On Thursday, the U.S. Commerce Department expanded its trade blacklist by adding 37 Chinese entities, citing national security concerns. Among these companies, some are believed to have supported the alleged spy balloon that traversed U.S. airspace last year. The department highlighted that the actions of these entities, including efforts to procure U.S. goods to enhance China’s quantum technology capabilities, pose …

Nissan reported a 92% increase in its annual profit for the fiscal year ending in March, reaching 426.6 billion yen ($2.7 billion). This rise came as the Japanese automaker saw sales growth in all its major markets except for China. The company’s annual revenue soared by nearly 20% to 12.7 trillion yen ($81.5 billion), according to Nissan Motor Co. For …

Biden praises Microsoft’s success on former Foxconn flop site. U.S. President Joe Biden recently criticized Donald Trump for his unfulfilled promise to bring substantial job growth to southeastern Wisconsin through a $10 billion investment by Foxconn that never materialized. Instead, Biden highlighted new economic ventures under his administration, such as a Microsoft data center set to be established in the …

AstraZeneca has announced that it will stop producing its Vaxzevria coronavirus vaccine, which was developed with the University of Oxford, due to a decrease in demand caused by the availability of newer vaccines. Since its first administration in the UK on January 4, 2021, over 3 billion doses of Vaxzevria have been distributed globally. Despite its widespread use, the vaccine …

FTX, the cryptocurrency exchange that collapsed in November 2022, announced late Tuesday that it has amassed sufficient assets to fully reimburse most of its creditors, according to a proposed reorganization plan. The company stated, “The plan contemplates payment in full of all non-governmental creditors based on the value of their claims as determined by the bankruptcy court.” The plan is …

Wall Street experienced fluctuations between gains and losses early Tuesday as investors anticipated more corporate earnings reports in what is forecasted to be a quiet week. Futures for both the S&P 500 and the Dow Jones Industrial Average saw slight increases of less than 0.1%. Disney’s stock dropped over 6% in premarket trading following a reported second-quarter loss attributed to …

A sanitation company based in Tennessee has agreed to pay over $650,000 in civil penalties following a federal investigation that discovered the company unlawfully employed minors to work in hazardous conditions at meat processing facilities in Iowa and Virginia. The U.S. Department of Labor revealed on Monday that Fayette Janitorial Service LLC consented to a judgment that includes the hefty …