Economy
Boeing shares tumble as company lowers 2024 cash forecast
Boeing shares were hammered Thursday after a top company official predicted another quarter of meager plane deliveries, likely resulting in negative cash for all of 2024. But on Thursday, West withdrew that forecast, indicating the company would likely have negative cash generation for the year.
US new home sales miss expectations in April
Sales of new US homes were weaker than analysts expected in April, government data showed Thursday, with slower mortgage demand appearing to bog down the number of transactions. While sales data can be volatile and revised later, the April selling pace was lower than the first quarter average of 653,000, noted Rubeela Farooqi, chief US economist at High Frequency Economics.
EU hits Oreo maker Mondelez with 337.5 mn euro antitrust fine
The EU on Thursday slapped a 337.5 million euro ($366 million) fine on Mondelez, the US confectioner behind major brands including Toblerone and Oreo, for forcing consumers to pay more by restricting cross-border sales.
WiFi, drones and sharp blades on Japan's whaling mothership
In whale-motif jacket, shirt and tie plus a whale-shaped hat, Hideki Tokoro shows off Japan's new whaling "mothership", the Kangei Maru -- slicing blades, butchery deck, freezers and all. Japan also wants to resume hunting fin whales, the world's second-biggest animal after the blue whale.
“Naira’s crash:” CBN revokes licenses of BDC operators, asks them to re-apply
The Central Bank of Nigeria (CBN) has issued a new guideline to Bureau de Change Operators, asking them to re-apply for new operational licenses.
Finland's wizards making food out of thin air
At a factory in Finland, the "farmers of the future" are making a new food protein by feeding a microbe air and electricity, proving that protein can be produced without traditional agriculture. But at Solar Foods' recently opened factory outside Helsinki, scientists are using new technology to grow protein out of cells using air and electricity.
Nigeria’s foreign exchange market records high dollar supply as naira recovers
The Nigerian foreign exchange market has seen an increase in the supply of forex, leading to the recovery of the naira for three consecutive days.
What are the costs behind Trump's economic proposals?
Republican former president Donald Trump once dubbed himself a "Tariff Man" seeking to boost government coffers. He has vowed to reverse President Joe Biden's electric vehicle subsidies as well, among other moves.
Russian assets plan for aiding Ukraine to dominate G7 meet
G7 finance ministers gather in Italy on Thursday for a three-day meeting dominated by plans to use Russian assets to help Ukraine, as well as new sanctions on Moscow and the commercial threat posed by China.
Economy
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