Economy
Africa in debt spiral as restructuring efforts drag on
While the explosion of debt is throwing a shadow over global economic growth, experts warn that sub-Saharan Africa, where several countries are already in default, is experiencing its worst-ever crisis.
US space company upbeat on next Moon mission despite lander's demise
The head of the American space company whose lunar lander failed this week in its mission to reach the Moon expressed optimism Friday that the next attempt would achieve its goal. Astrobotic's Peregrine lander was launched on January 8 under an experimental new partnership between US space agency NASA and private industry intended to reduce costs for American taxpayers and seed a lunar economy.
LA Times staff walk out over job cut threats
Unionized journalists at the Los Angeles Times walked off the job Friday for the first time in the paper's 142-year history, after management said it planned significant job cuts to help plug a gaping financial hole. No official number was put on the planned job cuts, but reports said it could be at least 100 journalists -- around a fifth of the newsroom.
US Fed official says 'premature' to expect rate cuts soon
The US Federal Reserve's fight against inflation is far from over and it is "premature" to expect rate cuts around the corner, a senior US central bank official said Friday. The interventions from Fed officials this week appear to have changed market perceptions of when the US central bank will start loosening monetary policy, with futures traders now far less confident of a March rate cut.
Boeing 747 cargo plane makes emergency landing in Miami
An Atlas Air Boeing 747 cargo plane made an emergency return to Miami International Airport following an engine problem shortly after takeoff, the airline said -- prompting another investigation into the aviation giant.
Sports Illustrated magazine lays off staff
Staff at Sports Illustrated, the famed American sports magazine that became a fixture for athletes and fans, were laid off on Friday by publisher The Arena Group, according to the SI employees union.
In Davos, African nations want to tell a different story
From South Africa to Rwanda to Nigeria, African countries put on a show of force at the World Economic Forum this week, seeking to transform their image by grabbing private investment rather than development aid.
ING targeted in new Dutch climate legal case
The Dutch climate activists who won an historic court battle against Shell now have a new target -- top Dutch bank ING. Milieudefensie, the Dutch branch of Friends of the Earth, said Friday they have started legal proceedings against ING, and warned that other top companies could be next.
Ford to cut production of electric pickup on lower demand
US auto giant Ford said Friday that it is reducing production of its F-150 Lightning electric pickup, as it anticipates weaker demand for electric vehicles this year. Sales of the F-150 Lightning jumped 55 percent in 2023, with further growth forecast this year, according to Ford.
Economy
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