Tesla, the well-known electric vehicle maker, recently settled a racist discrimination lawsuit brought by Owen Diaz, a Black man who worked at its Fremont, California factory. The settlement, which put an end to the legal battle, was described by Diaz’s attorney as an “amicable resolution” with confidential terms. This settlement followed a federal jury awarding
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Deliveroo, a leading meal delivery firm, reported a significant improvement in its financial performance, with a reduced loss of £31.8 million in full-year results. This marked a substantial improvement from the previous year’s loss of £294.1 million. The company’s adjusted earnings, which exclude one-off costs, saw a positive trend, reaching £85.4 million, surpassing the company’s
With inflation loosening its grip in most economies, investors are closely monitoring interest rate decisions as markets anticipate a series of rate cuts in 2024. Economists are expecting a mild rollback of rates later in the year, according to a recent report by the Economist Intelligence Unit. While rates in most economies are expected to
Boeing’s recent Max crisis is causing some of its major customers to rethink their growth strategies for the upcoming year and possibly beyond. The ongoing quality control issues, slow production increase, and delayed certification of new aircraft are all contributing to the decision-making process of airline CEOs. Southwest Airlines, a loyal customer of Boeing with
Japan recently avoided a technical recession with revised official data showing that the economy returned to growth in the October-December period of the previous year. This was primarily due to strong capital expenditure, which helped bolster the economy. However, the upward revisions fell short of expectations as private consumption continued to remain weak. With signs
Saudi Arabia’s state oil giant, Aramco, recently reported a 25% decline in profit to $121.3 billion in 2023, down from $161.1 billion in 2022. Despite this decrease, Aramco still boosted its dividend payout, with a 4% increase in its base dividend for the fourth quarter, reaching $20.3 billion, and a 9% increase in its performance-linked
In the realm of investing and finance, the buzz around artificial intelligence (AI) often revolves around technology companies experiencing exponential growth. However, Nancy Tengler, CEO and CIO of Laffer Tengler Investments, emphasizes that AI is not exclusive to tech giants like Nvidia and Meta Platforms. Instead, Tengler highlights traditional “old economy” companies that are leveraging
Apple has recently approved Epic Games’ developer account in Sweden, following a tumultuous period during which Apple had blocked the company’s access to the App Store in retaliation for lawsuits and social media criticisms. This decision comes as a result of the new antitrust regulation, the Digital Markets Act, which allows for the establishment of
The European Central Bank recently made the decision to lower its annual inflation forecast while keeping interest rates at a stable level. ECB President Christine Lagarde mentioned that the market pricing for a potential rate cut in June appears to be aligning with the policymakers’ outlook. The staff projections for inflation in 2024 have been
Federal Reserve Chair Jerome Powell recently addressed the topic of interest rates, reiterating that he anticipates rates to begin decreasing within the current year. However, he refrained from specifying a precise timeline for this shift. In his remarks to Capitol Hill, Powell emphasized the importance of monitoring inflation risks and the need to avoid abrupt