Corporate news, financial markets, and economic trends
Delta Air Lines is suing cybersecurity company CrowdStrike following the tech failure in July that resulted in thousands of canceled flights, reportedly to the tune of over half a billion dollars in revenue and operational costs for Delta. The glitch, said to have been caused by the defective software update from CrowdStrike, also affected Delta…
Back in the spotlight as one of the leading safe-haven investments, gold prices are on their way to posting weekly gains, following the latest escalation of tensions in the Middle East and the release of further unclear statements by both Israel and Hezbollah. As the investor seeks refuge with the yellow metal, its price is…
During autumn 2024, the Canadian economy continues to navigate a complex landscape of high inflation, elevated interest rates, and global uncertainties. In Canada, fears of recession began to rise again in most economies, but Canada bypassed it though growth remains tepid and uneven across sectors. For instance, another fundamental development is that of moderation in…
Global finance is changing at a fast rate, and in the midst of this change is the effort to make cross-border payments speedier, safer, and cheaper. The demand for real-time payments augments the need to modernize infrastructure, and thus financial institutions face pretty stiff pressure. These financial institutions utilize state-of-the-art technology like blockchain, AI, and…
The U.S. Pentagon, in collaboration with the Small Business Administration (SBA), is set to inject billions of dollars into small businesses after all new investor licensing from the SBA, especially under the Small Business Investment Company Critical Technologies Initiative (SBICCT). This exciting move further seeks to strengthen national security, which is achieved in tandem with…
Tokyo Metro Co. had a spectacular stock market debut following its IPO, which managed to raise ¥348.6 billion ($2.3 billion), topping the largest IPO in Japan since 2018. Shares rose as high as 47% above the IPO price of ¥1,200 to reach highs of ¥1,768 during early trading. The dazzling debut speaks of strong interest…
Global stock markets reeled Monday with uncertainty casting a long shadow over U.S. interest rates and the forthcoming 2024 presidential election. Investors, already skittish about sustained high rates by the Federal Reserve, were given added reasons to fear a vulnerable U.S. economy by political risks and data. Meanwhile, the dollar tightened and gold prices soared…
For a very long time, politicians and economists have expressed their concerns regarding the US government deficit. Currently, with a predicted amount of nearly $1.8 trillion for this fiscal year 2024, all sirens are going out. The United States is going to allocate more than $1 trillion annually to pay interest on its debts for…
Detroit, Mich. – October 3, 2024 General Motors Company, the world’s largest automaker by sales for the third consecutive year, will release its quarterly earnings before the opening bell on Wall Street. Investors and analysts are more than eager to see how the manufacturer is dealing with some rather difficult issues it currently faces, including…
As we move into 2024, the world economy shifts its fault lines, from price problems such as inflation to politics and debt. Even though inflationary pressures have eased somewhat compared with crises of recent years, new economic challenges are starting to appear, first and foremost driven by political tensions, high levels of debt, and a…
