A report released by the Labor Department on Thursday showed import prices edged slightly lower in the month of February. The Labor Department said import prices dipped by 0.1 percent in February after falling by a revised 0.4 percent in January. Economists had expected import prices to slip by 0.2 percent, matching the decrease originally reported for the previous month. […]

Switzerland’s economy is projected to grow significantly below its average this year amid the challenging global environment, the State Secretariat for Economic Affairs said in its Spring Forecast. The expert group of the SECO forecast the alpine economy to grow 1.1 percent this year. That was marginally bigger than the 1.0 percent expansion projected in December. Although the 1.1 percent […]

Even though the price of lithium has dropped by about half from a high of around $87,000 per metric ton in November, there would seem to be plenty of demand for the material that is used in every electric vehicle battery being made. Mining companies focused on lithium ought to be immune from attacks by short sellers. Grizzly Research, however, […]

Apple Inc. will delay bonuses for some corporate divisions and will also limit hiring for more jobs as it expands cost-cutting efforts, Bloomberg reported citing people familiar with the matter. The tech giant will reduce the frequency of bonuses for a portion of Apple’s corporate workforce, as it expects to cut costs amid weak financials. Regarding its hiring plans, the […]

Among several prominent car ranking studies, the Consumer Reports auto brand car ratings stand out. For its “Which Car Brands Make the Best Vehicles?” report, it looks at 32 brands based on road tests, reliability, safety and satisfaction. (Here are the best- and worst-built cars in America.) The test looks at 50 aspects of new cars. These include braking, handling […]

The Department of Health and Human Services has unveiled the first set of Part B prescription drugs that will be subject to Medicare inflation rebates because they raised their prices faster than inflation. Under prescription drug law, prescription drug companies have to pay back Medicare if they raise prices on seniors at a higher rate than inflation. From next month, […]

The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession. Swedish GDP fell by 0.2 per cent in the fourth quarter of 2022, […]

Tyson Foods Inc. plans to close two poultry plants in the United States and lay off almost 1,700 employees on May 12, reports said. The current scale and inability to economically improve operations is said to have led to the decision to close the facilities. The plants in Van Buren, Arkansas and Glen Allen, Virginia will be closed as part […]

Higher futures point to a fairly steady start on Wall Street Tuesday morning. The Dow futures are gaining 0.73 percent, the S&P futures are up nearly 1 percent, and the Nasdaq futures are climbing 0.8 percent. Inflation data and the developments on the banking sector front are likely to set the trend for stocks. Data from the Labor Department showed […]

Credit Suisse Group AG’s shares were losing around 4 percent in Swiss trading as well as around 3 percent in pre-market activity on the NYSE after the banking major admitted that it has identified “material weaknesses” in its financial reporting for the years 2022 and 2021. The development comes as the worldwide banking industry has been facing scrutiny following the […]