Procter & Gamble to cut 7,000 jobs over the next two years
The cuts will represent 6 percent of its total workforce.
Category Archives: Economy
US factory orders slump in April as spending on tariff anticipation fades
Orders tumble by 3.7 percent after a rise in March when businesses increased purchases in anticipation of tariffs.
Volvo to cut 3,000 jobs amid trade uncertainty
The layoffs come days after US President Donald Trump threatened 50 percent tariffs on EU goods.
ECB’s Lagarde says euro could be viable alternative to US dollar
ECB chief says US economic policy shifts have created inroads for the euro to the standard currency for global trade.
Boeing reaches deal with US DOJ to avoid prosecution over 737 Max crashes
The DOJ is expected to have a written agreement with Boeing in place by the end of next week.
US investment Firm RedBird to buy UK’s Daily Telegraph newspaper
Abu Dhabi’s IMI will take a minority stake in the company of no more than 15 percent.
JPMorgan’s Dimon warns of US stagflation risk: Report
Economists echo Jamie Dimon’s concerns as US credit downgrade and tariff-driven uncertainty continue.
UnitedHealth paid nursing homes to reduce hospital transfers: Report
In one case, a person suffered permanent brain damage because of a delayed transfer, according to The Guardian.
Target cuts annual forecast as tariffs, boycotts weigh on sales
Unlike Walmart, Target is more heavily reliant on China for goods, and tariffs on its goods are driving earnings down.
Musk commits to staying Tesla CEO for another five years
Elon Musk has claimed a turnaround in Tesla's sales after a slump, even as his internet service provider Starlink grows.
Regeneron buys 23andMe for $256m after bankruptcy
Sale of genetic testing company raises concerns about privacy of 23andMe’s 15 million customers.
A US airline faces backlash as it begins deportation flights
The financially struggling budget airline Avelo took a contract with the Trump administration that began this week.
US DOJ investigates UnitedHealth for alleged Medicare fraud: Report
The investigation comes amidst months of turmoil for the company, sending its stock plunging.
Trump’s Gulf tour based on “economics rather than politics”
Trump's focus on his tour of the Middle East is on economics.
Delivery driver pleads guilty to stealing $2.5m from DoorDash
US federal prosecutors say defendant and co-conspirators got the company to pay for deliveries that never occurred.
Trust needed to “break stalemate” in US-Iran nuclear talks
"The challenge is that there's many in the US and its allies that do not trust Iran."
‘I don’t have the cash to pay for these tariffs’: US small biz suffers
US small businesses are being financially stressed by Trump's tariffs amidst already slim margins.
Canadian unemployment rate hits six-month high amid US-imposed tariffs
Statistics Canada showed an unemployment rate of 6.9 percent, with most cuts in the manufacturing sector.
Ford to raise prices on three cars produced in Mexico: Report
The increased price tag is a result of US President Donald Trump’s imposed tariffs on auto imports.
Canada trade shifts away from US amid trade tensions
New data show both imports and exports with US fall as Canada expands trading relationships with other countries.