Economy
Mission impossible? Next Boeing CEO faces pile of problems
Since announcing plans in late March to replace CEO Dave Calhoun at the end of 2024, Boeing's problems have seemingly gone from bad to worse, complicating an already daunting executive search. Given the depth of the problems, some Boeing watchers argue the company needs to make profound changes beyond the executive-suite shakeup already announced, which keeps Calhoun in his post through December.
Japan economy suffers worse-than-expected contraction of 0.5%
Japan's economy suffered a worse-than-expected contraction in the first quarter, official data showed Thursday, in further bad news for its unpopular government. In the previous quarter, from July to September, GDP suffered a major contraction of 0.9 percent, also revised on Thursday from an earlier reading of minus 0.8 percent.
IMF approves use of reserve assets for 'hybrid' financial instruments
The IMF said Wednesday that its board had voted to allow member states' IMF-issued international reserve assets to be used by multilateral development banks (MDBs) to acquire financial instruments that would stretch their balance sheets further.
Victoria's Secret reviving fashion show after six-year hiatus
American lingerie giant Victoria's Secret announced Wednesday that its annual fashion show, scrapped after 2018 due to sluggish sales and diminishing audiences, will return this fall bringing high-profile models back onto its catwalk.
Modest Mexican taco restaurant wins Michelin star
A hole-in-the-wall taqueria that offers just four types of tacos and two salsas is among the first restaurants in Mexico to be awarded a star by the prestigious Michelin Guide. Two decidedly more upmarket Mexico City restaurants were each awarded two stars.
What's next for Boeing after the US says it can be prosecuted?
The Department of Justice said that Boeing can be prosecuted for violating a 2021 criminal settlement over the certification of the 737 MAX. The DOJ determination, filed in US court in Texas on Tuesday, comes on the heels of a near-catastrophic Alaska Airlines flight in January that made an emergency landing after a panel on the fuselage blew out.
Putin heads to Beijing seeking greater support for war effort
Russian President Vladimir Putin arrives in China on Thursday to meet his "dear friend" Xi Jinping as he seeks to win greater support from Beijing for his war effort in Ukraine and his isolated economy.
US consumer inflation eases slightly in April, in good news for Biden
US consumer inflation eased slightly last month, according to US government data published Wednesday, a positive sign for President Joe Biden ahead of November's election.
German travel giant says takes overtourism 'very seriously'
German travel giant TUI said Wednesday it takes protests against overtourism, like recent demonstrations in the Canary Islands, very seriously, while arguing that its business model was not contributing to the problem.
Economy
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