Breaking News: Economy
Flights are getting more expensive again as airlines scale back their growth plans
Delta Airlines planes are seen parked at Seattle-Tacoma International Airport on June 19, 2024 in Seattle, Washington. Kent Nishimura | Getty Images Airlines are reporting better unit revenues for the tail end of summer, a sign customers will continue to have to shell out more to fly in the coming months. Alaska Airlines on Thursday […]
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Wholesale prices rose 0.2% in August, in line with expectations
Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates. The producer price index, a measure of final demand goods and services costs that producers receive, increased 0.2% on the month, the Bureau of Labor Statistics said Thursday. That matched […]
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Boeing faces strike threat as workers vote on new contract
A Boeing 737 MAX aircraft is assembled at the Boeing Renton Factory in Renton, Washington, on June 25, 2024. Jennifer Buchanan | Afp | Getty Images Boeing workers are voting on a new labor contract on Thursday, setting up the potential for a crippling strike if staff members decide to reject the deal just as […]
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Samsung Electronics plans global job cuts of up to 30% in some divisions: Reuters, citing sources
Samsung Electronics, the world’s top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. Jakub Porzycki | Nurphoto | Getty Images Samsung Electronics, the world’s top maker of smartphones, TVs and memory chips, is cutting up to 30% of its […]
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Britain labels data centers critical infrastructure to boost cyber defenses
Data centers today are crucial computing infrastructure that power the modern-day internet. In Pictures Ltd | Andrew Aitchison | Corbis News | Getty Images LONDON — The U.K. on Thursday said it now classes data centers as critical infrastructure, in a move that is expected to boost cybersecurity in the country and help operators of […]
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Trump tariffs will fuel supply chain inflation and consumers will pay the price, trade experts warn
A cargo ship is sailing towards the docking of a foreign trade container terminal in Qingdao Port, Shandong province, in Qingdao, China, on June 7, 2024. Costfoto | Nurphoto | Getty Images Trade analysts are warning that new tariffs threatened by former President Donald Trump, which he doubled down on during Tuesday night’s presidential debate, […]
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Stocks making the biggest moves premarket: Trump Media, GameStop, Dave & Buster’s and more
Check out the companies making headlines before the bell. Trump Media & Technology – Shares slid more than 11% in the wake of the debate between Republican nominee Donald Trump and Democratic Vice President Kamala Harris . Trump Media is majority owned by the former president. Rentokil Initial – Shares plummeted about 20% following the […]
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Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021
Prices increased as expected in August while the annual inflation rate declined to its lowest level since February 2021, according to a Labor Department report Wednesday that sets the stage for an expected quarter percentage point rate cut from the Federal Reserve in a week. The consumer price index, a broad measure of goods and […]
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UK economy flatlines again in July, below expectations
Maremagnum | Corbis Documentary | Getty Images LONDON — The U.K. economy continued to flatline in July on a month-on-month basis, flash figures published from the Office for National Statistics showed Wednesday. Gross domestic product (GDP) came in below the expectations of economists polled by Reuters, who had forecast growth of 0.2%. The country also […]
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CEO of property firm Damac expresses concerns over ‘expensive’ Dubai
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes, […]
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