BUSINESS

BUSINESS

U.S. Government Ignores TikTok ‘Kill Switch’ Offer

According to press reports, TikTok has disclosed that it offered the U.S. government a “kill switch” back in 2022 to address concerns over data protection and national security. The ByteDance-owned app made this offer as part of its efforts to prevent a ban in the United States. According to TikTok, the proposed “kill switch” would have given the US government […]

BUSINESS

Suriname Makes Good In IMF Review

The International Monetary Fund says Suriname is eligible to receive US$61.5 million in financial assistance following a successful review of the multi-million-dollar Extended Fund Facility. The total funds allocated to Suriname so far are US$362.6 million. IMF deputy managing director, Kenji Okamura, said Suriname’s reforms under the EFF-supported program are increasingly reflected in macroeconomic stability and improving investor perceptions. Readers […]

BUSINESS

U.S. Jobs Surge Spells Doubt On Any Interest Rate Cuts

Hiring in the U.S. surged unexpectedly last month, continuing to defy predictions of a slowdown while raising fresh questions about when interest rates will fall. The U.S. Labor Department said employers added 272,000 jobs in May, above expectations of 185,000 new roles. The larger-than-expected gain emerged despite the highest borrowing costs in more than 20 years, which analysts have been […]

BUSINESS

Red Lobster In Bankruptcy Act

According to press reports, Red Lobster has filed for voluntary Chapter 11 bankruptcy in Florida, the company confirmed in a statement late Sunday night.The 56-year-old seafood chain — the largest of its kind in the U.S. — said it would “drive operational improvements, simplify the business through a reduction in locations, and pursue a sale of substantially all of its […]

BUSINESS

Pfizer And AstraZeneca Set To Invest Big In France

Leading healthcare companies Pfizer and AstraZeneca announced new investments in France worth nearly $1 billion. Pfizer plans to invest 500 million euros ($538.5 million) in France to enhance its research and development work in the country. AstraZeneca, on the other hand, announced a $388 million investment for its site at Dunkirk. These investment pledges coincide with President Emmanuel Macron’s annual […]

BUSINESS

Apple Apologizes For Controversial iPad Pro Ad

Apple recently released an iPad Pro ad that has sparked controversy online. The ad shows a hydraulic press crushing various creative instruments, including a piano and record player, which upset some users. The advertisement titled “Crush” has over a million views on Apple’s YouTube channel and was shared by CEO Tim Cook on social media platform X. In a statement […]

BUSINESS

McDonald’s Considering A $5 Meal Deal

McDonald’s is contemplating adding a $5 meal to its menu across the U.S. as a way to entice customers back into its restaurants. The proposed $5 meal could include a choice of either a McChicken, a McDouble, or four-piece chicken nuggets, along with fries and a drink. Leaders at McDonald’s corporate offices are currently in discussions with franchise owners about […]

BUSINESS

Jobs Surge As U.S. Economy Continues To Defy Prediction

Job creation in the U.S. surged in January, as the economy continued to defy predictions of a slowdown. The Labor Department said employers added 353,000 jobs and average hourly pay jumped, while the unemployment rate held steady at 3.7 percent. The report extended a streak of job gains that has surprised economists, who have expected a jump in interest rates […]

BUSINESS

ExxonMobil Makes Multi-Billion Dollar Profits To End 2023

ExxonMobil has posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production. Profits from oil majors have been down in 2023 by about a third from record levels in 2022, pressured as oil and gas prices retreated after spiking when Russia invaded Ukraine. Exxon Chief Executive Darren Woods said the industry saw […]