Dutch health technology company Philips will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its products following a recall of respiratory devices that knocked off 70% of its market value. Philips to cut 13% of jobs to restore profit. Half of the job cuts will be […]
Author: News Desk
The world’s next big inflation surprise is looming in China
China’s reopening is set to provide a welcome boost to global growth, offsetting weakness in Europe and a looming recession in the US. But unlike in 2009, when China’s four-trillion-yuan stimulus helped kickstart a recovery from the Lehman slump, in 2023 there’s a catch a boost to inflation at exactly the moment the Federal Reserve […]
Joe Biden rules out sending F-16 fighter jets to Ukraine
US President Joe Biden has ruled out sending F-16 fighter jets to Ukraine, despite renewed calls from Ukrainian officials for urgent air support. Joe Biden rules out sending F-16 fighter jets to Ukraine. Asked by a reporter on Monday if the US would be providing the planes, Mr Biden simply replied “no”. His comment comes […]
Biden moves to halt US exports to Huawei, reports say
The US government has stopped approving licences for American firms to export most items to Chinese technology giant Huawei, according to reports. Biden moves to halt US exports to Huawei, reports say. It comes as the Biden administration continues to tighten its rules on exports of US technology to China. Washington has previously accused Huawei […]
UK expected to be major country to shrink in 2023 – IMF
The UK economy will shrink and perform worse than other advanced economies, including Russia, as the cost of living continues to hit households, the International Monetary Fund has said. UK expected to be only major country to shrink in 2023. The IMF said the economy will contract by 0.6% in 2023, rather than grow slightly […]
What’s behind the TTP’s insurgency?
When a suicide bomber struck a mosque inside a police compound in the northwestern city of Peshawar on Monday, suspicion immediately fell on the Pakistani Taliban, also known as Tehreek-e-Taliban Pakistan, or TTP. What’s behind the TTP’s insurgency? In a post on Twitter, a commander for the group, Sarbakaf Mohmand, claimed responsibility for one of […]
Women operate high-speed trains in Saudi Arabia
A high-speed train carrying pilgrims to Makkah is being driven by driver Tharaa Ali, who was hired by Saudi Arabia in an effort to take advantage of the country’s rapidly growing female labour force. Women operate high-speed trains in Saudi Arabia. Before recently, 25-year-old Ali’s only transportation experience consisted of driving around her hometown of […]
Putin believes it’s his “destiny” to recreate the Russian Empire
Russian President Vladimir Putin believes it’s his “destiny” to recreate the Russian Empire, according to former US Defense Secretary Robert Gates. During a Sunday interview on NBC’s “Meet the Press,” Gates said that Putin had made it part of his vision to retake old territories to recreate Russia’s former geographic sphere of influence. “Putin believes […]