Toshiba weighs cutting 5,000 jobs in Japan
TOKYO -- Toshiba is considering cutting its domestic workforce by 5,000, equivalent to about 7% of the total in Japan, Nikkei has learned, in its latest move to accelerate its restructuring.
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High company valuations a 'worry,' IMF's capital markets chief says
High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF's director of the Monetary and Capital Markets Department said Tuesday.
UAE government unit denies cloud seeding took place before Dubai floods
DUBAI — The National Center of Meteorology (NCM), a government taskforce responsible for cloud seeding missions in the United Arab Emirates, denied reports that it carried out the weather modification technique in the runup to heavy storms across the country, therefore exacerbating flooding in places like Dubai.
10 arrested in large-scale raid in Germany targeting human smuggling gang that exploits visa permits
BERLIN (AP) — German authorities conducted a large-scale raid against an international human smuggling gang early Wednesday, police said in a statement.
UK inflation eases less than expected to 3.2% in March, sparking concerns of U.S.-style stickiness
Inflation in the U.K. eased to 3.2% from 3.4% in March, the Office for National Statistics said on Wednesday, but a set of higher-than-expected figures spurred investors to push back bets on the timing of the first Bank of England rate cut.
After Starbucks and McDonald’s, Asia’s anti-Israel boycotts find a new target: Western beauty products
“I had one lady who had used L’Oreal products for over a decade, but she said she would never use it again and was moving on to other local brands,” Phany said.
IMF upgrades global growth forecast as economy proves 'surprisingly resilient' despite downside risks
The International Monetary Fund on Tuesday slightly raised its global growth forecast, saying the economy had proven "surprisingly resilient" despite inflationary pressures and monetary policy shifts.
Wednesday Briefing: China’s Economy Grew Faster Than Expected
China’s National Bureau of Statistics said yesterday that the economy grew 1.6 percent in the first quarter over the previous three months, despite a severe real estate crisis and sluggish spending at home. When projected out for the entire year, the first-quarter data indicates that the economy was growing at an annual rate of about 6.6 percent. China had set a growth target of about 5 percent for the year, a goal that many economists viewed as ambitious.