Economy
Global unemployment set to worsen in 2024: UN
The global unemployment rate will increase slightly in 2024, the United Nations said Wednesday as it raised concerns about stagnant productivity, worsening inequalities and inflation biting into disposable income. Widening inequalities and stagnant productivity are causes for concern, the ILO said in its World Employment and Social Outlook Trends report for 2024.
Train strikes, farmer blockades snarl German transport
Nationwide strikes brought German transport to a standstill Wednesday, with railway workers on a three-day stoppage while farmers on tractors blocked autobahns in a bitter protest over subsidy cuts. The railway strike, which hit long-distance, regional and commuter lines, comes amid a week-long protest by farmers over an end to tax breaks as the government seeks to trim spending.
Rising prices cap India's thirst for Russian oil
Indian purchases of Russian crude in defiance of Western pressure over the Ukraine war have fallen to an 11-month low as the price tag on the discounted oil rises, figures show. Since the invasion of Ukraine nearly two years ago, India has bought hundreds of millions of barrels of cut-price Russian crude, saving itself billions of dollars while bolstering Moscow's war coffers.
Asian markets drop again as traders prepare for CPI, earnings
Asian markets on Wednesday resumed the losses that have characterised the year so far, following a tepid lead from Wall Street as traders prepare for the release of key inflation data and start of earnings season.
Cubans fear worsening inflation as fuel price to soar 500%
Already under the yoke of inflation and product scarcity, many Cubans don't know how they will cope with a new 500-percent surge in the fuel price. According to official estimates, the Cuban economy shrank by two percent in 2023, while inflation reached 30 percent in 2023.
Boeing CEO: Alaska Airlines incident 'our mistake,' vows transparency
Boeing Chief Executive Dave Calhoun took responsibility for a near-catastrophic Alaska Airlines incident Tuesday, vowing "complete transparency" as the aviation giant tries to pivot from its latest crisis. US regulators with the Federal Aviation Administration have grounded 171 737 MAX 9 planes with the same configuration as the Alaska Airlines jet.
US lawmaker calls for probe of UAE tech firm over China ties
A key US lawmaker has called on Washington to mull trade curbs on Emirati artificial intelligence firm Group 42 Holdings (G42) over its ties with China, according to a letter released Tuesday.
Honda unveils futuristic EV designs to hit US market in 2026
Honda unveiled Tuesday a new electric vehicle series to launch commercially in 2026, revealing a futuristic concept car at the Consumer Electronics Show in Las Vegas. Honda plans to introduce a commercial model based on Saloon in the United Sates in 2026.
Norway greenlights deep-sea mining exploration
Norway's parliament on Tuesday adopted a government plan to open up parts of its seabed to mining exploration, despite protests from activists and scientists' warnings about the uncertain environmental impact.
Economy
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