Business – Page 7 – PressClub World

13. 4. 2023 No Responses

Delta loses $363 million

Delta Air Lines reported a $363 million loss for the first quarter on Thursday, with higher spending on labor and fuel overshadowing a sharp rise in revenue. But the airline predicted it will make a bigger-than-expected profit in the current...

12. 4. 2023 No Responses

Rumor: TSMC plans JV fab in Germany

TSMC reportedly has decided to build a fab in Germany jointly with local partners in a collaboration model similar to that for its ongoing fab project in Japan, according to industry sources. After announcing the construction of factories in the...

11. 4. 2023 No Responses

Apple now gets roughly 7% of its iPhones from India

Apple Inc. assembled more than $7 billion of iPhones in India last fiscal year, tripling production in the world’s fastest-growing smartphone arena after accelerating a move beyond China. The US company now makes almost 7% of its iPhones in India...

10. 4. 2023 No Responses

PC Shipments Plunge 40% In Q1

New data via International Data Corporation’s (IDC) Worldwide Quarterly Personal Computing Device Tracker shows first quarter shipments were around 56.9 million, or about a 29% decline compared to the same quarter in 2022. IDC blamed continued “we...

7. 4. 2023 No Responses

Mexico To Buy 13 Power Plants From Spanish Energy Major

Mexico is set to buy 13 power plants currently operated by Spain’s utility major Iberdrola in a deal worth some $6 billion. The purchase, Reuters reports, is part of the Lopez Obrador government’s ambition to return control over Mexico’s electricity...

6. 4. 2023 No Responses

Major global powers ditching the U.S. dollar

The global trend of substituting the US dollar with local currencies in the trade of goods and transactions has been on the rise, with countries hoping to reduce their dependence on Washington and prevent it from further exploiting its power...

3. 4. 2023 No Responses

This day marked the 50th anniversary of a momentous phone call

On April 3, 1973, Motorola engineer Martin Cooper was standing in a street of New York when he made the first ever call on a true mobile phone, calling his chief rival at Bell Labs, Joel Engel, presumably to gloat....

2. 4. 2023 No Responses

‘Dr. Doom’: Most US banks are “technically near insolvency,” with hundreds already “fully insolvent.”

Renowned economist Nouriel Roubini, who predicted the global financial crisis of 2008 caused by fraudulent MBS, has issued a grim assessment of US banking sector’s status. In an opinion piece for Project Syndicate, Roubini, nicknamed ‘Dr. Doom’ by Wa...

31. 3. 2023 No Responses

India to drop US dollar in cross-border trade

India has opted to offer its Indian Rupee (INR) as a trade currency alternative to the US dollar after it unveiled its latest “dynamic and responsive” foreign trade policy in a bid for de-dollarization. According to the Indian Commerce Secretary...

29. 3. 2023 No Responses

SEC Chair Gary Gensler To Face Congress Grilling Over Crypto Policy

The United States Securities and Exchange Commission (SEC) chief Gary Gensler is set to testify before the House Financial Services Committee for the first time. In an interview, Representative Patrick McHenry, chairman of the Financial Services Committee, co...

28. 3. 2023 No Responses

Bulgaria Refuses To Send Weapons To Ukraine, Joins Hungary & Austria’s Neutral Stance

After Austria and Hungary, Bulgaria has also joined the minority group of European Union countries that refuse to send weapons to Ukraine, news and opinion portal Mandiner reports. Bulgaria has declared that it will not take part in the EU’s joint...

18. 3. 2023 No Responses

Bank Run Drains $550 Billion In Deposits In One Week

It seems that QT Is Essentially Over. The Fed Since 2020: 1. Mar 2020: Inflation won’t be a problem 2. Jan 2021: Inflation is “transitory” 3. Sept 2021: Interest rates won’t rise until 2024 4. Jan 2022: Recession is needed...

17. 3. 2023 No Responses

Slovakia Will Send Entire Fleet of MiG-29 Fighter Jets to Ukraine

Slovakia’s government has approved a plan to give Ukraine its fleet of 13 Soviet-era MiG-29 fighter jets. Slovakia’s government on Friday approved a plan to give Ukraine its fleet of 13 Soviet-era MiG-29 fighter jets, becoming the second NATO member coun...

16. 3. 2023 No Responses

Massive Downward Reductions In US Shale Oil Output

EIA issued the March DPR: A massive downward reductions in US shale oil output. In the March report, shale oil output from the key plays is reduced by 443,000 bpd for January and 250,000 bpd for February. If we go...