GDP Growth Slows Much More Than Expected While Inflation Accelerates
The U.S. economy grew at just 1.6% annually and inflation soared in the first three months of this year, the government reported Thursday. Economists had expected gross domestic product (GDP) to grow at 2.5%. In the fourth quarter of 2023, the economy grew at an annual rate of 3.4%. Consumer spending was strong but weaker […]
Alzheimer’s drug embrace slows down as US doctors’ reluctance grows
Nine months after the U.S. launch of the first drug proven to slow the progression of Alzheimer’s disease, Eisai and Biogen’s Requemby faces unexpected hurdles to widespread use. That’s a stereotype among some doctors that treating diseases that rob people of their memory is futile. Alzheimer’s disease experts had anticipated bottlenecks due to Requemby’s requirements, […]
Argentina’s Inflation Slows Down After 3 Months of Milei ‘Shock Therapy’
Argentina recorded an inflation rate of 13.2% in February, Argentina’s National Institute of Statistics and Census (INDEC) said on Tuesday, marking the second straight month in which inflation slowed as a result of President Javier Millei’s austerity measures. It was shown that Mr Millay, who took office in December, instituted a series of “shock therapy” […]
Nestlé growth slows as inflation eats away at profits
Nestle’s stock price fell nearly 4.5% on Thursday after the Swiss multinational maker of Kit Kat chocolate bars and Haagen-Dazs ice cream reported lower-than-expected growth. This is another sign that inflation is weighing on the company’s profits. The company said it expects organic sales to increase by about 4% in 2024 and underlying trading operating […]
UPS to cut 12,000 jobs as delivery demand slows
UPS announced plans to cut 12,000 jobs this year due to weak shipping volumes, a plan the shipping giant says will save the company $1 billion. The company announced at its financial results conference on Tuesday that average daily domestic shipments decreased by 7.4% and domestic shipments decreased by 8.3%. UPS announced fourth-quarter sales of […]
China’s hundred-year marathon slows to a crawl amid economic woes and record-low birth rate
China's ambitions to complete the hundred-year marathon, overtake the United States and become a global hegemon by 2049 are becoming increasingly fanciful. The economic and social problems faced by the Asian country in the immediate aftermath of the pandemic have not yet been resolved. In fact, the situation continues to worsen. Collapse of the one-child […]