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"No DNA, just RSA": SA beats Kenya to become Africa’s most competitive economy in 2026 IMD rankings
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From 8 million to 12 million: Expert reveals the scale of South Africa's unemployment problem
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Swedish Tesla workers to strike over union demands
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IMF says global debt levels face 'Great Election Year' risk
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Fly larvae: Costa Rica's sustainable protein for animal feed
Economy Latest News
France's Casino supermarket chain to axe up to 3,200 jobs
French supermarket group Casino said Wednesday it would axe between 1,300 and 3,200 jobs as part of a reorganisation following its recent takeover led by Czech billionaire Daniel Kretinsky. That ended with the arrival in March of Kretinsky at the head of a group of main creditors who oversaw a debt restructuring deal.
Mired in crisis, Boeing reports another loss
Troubled aviation giant Boeing reported a first-quarter loss of $343 million on Wednesday, reflecting recent safety troubles that have slowed production and deliveries. "Our first quarter results reflect the immediate actions we've taken to slow down 737 production to drive improvements in quality," said Chief Executive Dave Calhoun, who will step down at the end of 2024.
Malaysian airline mogul Fernandes delays retirement
Malaysia's Tony Fernandes, one of Asia's most prominent entrepreneurs, has decided to extend his contract as chief executive of Capital A, the firm said Wednesday, after the board persuaded him to delay his planned retirement.
EU opens probe into China's medical device market
The European Union has launched an investigation into Chinese public procurement of medical devices, the EU's official journal said Wednesday, in a move that risks raising further tensions with Beijing. It is the first probe under the EU's International Procurement Instrument which seeks to promote reciprocity in access to international public procurement markets.
Heineken beer sales pop but hazy days ahead
Dutch brewer Heineken said Wednesday its beer sales were up but saw a "challenging and uncertain" economic outlook and couldn't guarantee the same growth for the rest of the year. "We continue to see the economic environment as challenging and uncertain, and will remain agile and focused," he said.
German forecast to offer signs if ailing economy on the mend
The German government will present its latest growth forecasts on Wednesday as Europe's crisis-hit top economy shows tentative signs it is finally turning a corner. But slight improvements in indicators do not mean the government will make any big changes to its forecasts, with analysts still expecting tepid growth this year.
Asian stocks rise on earnings optimism as US data approaches
Asian equities extended the week's gains Wednesday following a strong rally on Wall Street and another record in London, as traders cheered more upbeat earnings reports and data indicating a slowdown in US economic activity. General Electric, Spotify, and diaper and paper product brand Kimberly-Clark were among the companies posting strong gains after releasing quarterly reports.
Tesla profits tumble but shares rise on new vehicle plan
Tesla reported a big drop in quarterly profits Tuesday, pointing to elevated pressure on the electric vehicle market that has led to deep cost-cutting. Tesla is committed to "company-wide cost reduction" as part of an effort to achieve "profitable growth," it said.
Starbucks set for talks with unionized US stores
Starbucks is set to hold talks with labor representatives from stores that have voted to unionize in a key step towards reaching contracts, both sides said Tuesday. "This is a positive step toward achieving our December goal of reaching ratified contracts for represented stores in 2024."
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