Business News

Inflation is setting new records, and Japan is no different. The cost of living in Japan has taken on a new dimension in 2022, with prices all around the globe continuing to rise on the back of tight fuel supplies, raw materials, and other shortages caused by Russia's invasion of Ukraine. Japanese households are being affected by rising energy and food prices, and worries about a global economic recession are now threatening the Japanese economy.

More recently, a weakening Japanese Yen has also taken its toll on the cost of living in Japan, although it…

Just a few weeks ago, the world was on the brink of a global economic crisis, baffled by worries about inflation and unemployment, and now suddenly, the skies are clear.

The US Bureau of Labor Statistics recently released the Consumer Price Index (CPI) figures. According to the Bureau of Labor Statistics, food, housing, auto insurance, home furnishings, and healthcare prices rose during the month. . September saw a decrease in inflation to 8.2%, the lowest level since February. Still, a 5% decrease in the cost of gasoline was sufficient to bring the…

With interest rates peaking globally, inflation is still present, as many currencies continue to depreciate against the dollar. The consensus among experts is that a worldwide recession is approaching. Amid its dim economic picture, the United States is still anticipated to grow more quickly than its affluent counterparts. High-interest rates make American assets more appealing to foreign investors.

In many other parts of the world, governments and financial institutions must deal with two problems: slow economic development and rising inflation. To…

Elevated inflation and interest rates recently resulted in considerable stagnancy in the building and construction industry across the continents. Though the construction input prices lowered slightly in September, the wholesale price businesses received for building and construction products and materials rose more than expected. A similar factor is anticipated to raise the chances of a hike in interest rates in the battle against inflation in the building and construction industry, including the pre-engineered buildings category.  

Though even a few…

U.S. industrial production rose by 0.4 percent in September because of higher manufacturing output, especially in the auto industry, and the easing of supply-chain constraints. A report issued by the U.S. Federal Reserve revealed that the utility index decreased by 0.4 percent while the mining index increased by 0.6 percent.

Total industrial production in September increased by 5.3 percent from the same month last year, or 105.2% of its 2017 average. In September, capacity utilization increased by 0.2 percentage points to 80.3 percent, 0.7 percenta.ge…

On Thursday, Liz Truss announced her resignation as the Prime Minister of U.K, making her the shortest-serving PM in British history. In a speech delivered outside 10 Downing Street, Truss said she would be in office until a new successor is chosen.  

Liz's time as prime minister ran just 45 days, and she declared that the conservative party would elect a new leader the following week. In the last six years, Truss is the fourth Conservative prime minister to quit.

Her resignation deepens the unrest that has gripped Britain since it left the European…

The markets are responding to the news of Rishi Sunak being the next prime minister of the UK after Liz Truss' 44 historic days in office. The markets have already stabilized on the belief that Sunak might be able to repair the UK's finances.

Mr. Johnson, who only recently resigned as prime minister, asserted that he had enough support to run but conceded that this was "not the right time." Sunak will take office at a time when Ex-PM Liz Truss' mini budget exacerbated an economic crisis and put pressure on public finances. Truss tweeted to congratulate…

According to a domestic rating agency, ICRA, a sharp rise in commodity prices and increasing competition will hurt the building industry's profitability. due to the significant increase in the prices of essential commodities, particularly steel, bitumen, and cement, the industry is struggling with pressure on input costs.

ICRA stated that "sharp increases in commodity costs, coupled with increased competition, will have a detrimental impact on industry profitability, with a projected drop in operating profitability of 100-200 basis points in the current…

The industrial insulation sector is experiencing a wave of partnerships, investments, and upgrades to boost energy efficiency and lower carbon emissions. According to the European Green Deal, existing structures need to be updated with a similar mindset for new ones to be more climate/environmentally friendly. Major Industrial Insulation companies have taken positive steps towards the directives and goals, with most developments promoting energy efficiency & emission reductions.

Knauf Group recently announced that it would invest 135 million euros in…

Elon Musk, the richest man in the world, is now the Chief New Twit; he has finalized the US$44 billion transaction to buy out Twitter and take the company private. He intends to make the platform into a super app like We Chat that can be used for payments, communication, and entertainment. Musk fired the CEO, CFO, and General Secretary on his first day in charge of Twitter, revealing his intentions to reduce the workforce.

He pledged to build a Digital Town Square and a reputable advertising platform, as well as to restore all users who had been banned,…

On Thursday, the Bank of England (BoE) announced the most significant hike in the interest rate and warned about the impending recession the country will face within the upcoming two years. With rising food and energy prices, the most recent rate increase reflects aggressive rate tightening by central banks worldwide.

“It is a tough road ahead”, BoE governor Andrew Bailey remarked during a press briefing. He continued, “it was lifting borrowing costs by 0.75 percentage points to three percent -- the highest level since the 2008 global financial crisis…

Associated Builders and Contractors (ABC), a national construction industry trade association representing more than 22,000 members, issued a news release on the latest workforce, policy, and industry issues, as well as construction-related economic data and trends. According to the report, Construction Backlog Indicator declined to 8.8 months in October, according to an ABC member survey conducted from Oct. 20 to Nov. 4. The reading is 0.7 months higher than in October 2021.

The backlog is below the reading recorded in February 2020 after surpassing…

Babcock, a UK provider of specialist air ambulance operations, and the Hampshire and Isle of Wight Air Ambulance (HIOWAA) charity in the United Kingdom have agreed to a three-year contract extension. Babcock will continue to provide HIOWAA with an Airbus H135 air ambulance helicopter outfitted with night vision goggles (NVIS) technology, maintenance, airworthiness management, highly trend pilots, and engineering, under the terms of the agreement. Flight hours will also be increased to 19 per day for full-time pilots.

CXO of Hampshire and Isle of Wight…

Indian Oil Corporation Ltd, a state-owned energy firm, awarded a vendor invoicing management contract to IBM Consulting's BPO division.

The shared service center would be located in Noida, Uttar Pradesh, and would be used by employees of Indian Oil Corporation Ltd and IBM to address vendor issues, make payments, record exceptions, and keep records. Each year, the center would have the capacity to process 1.5 million invoices.

According to the CXO of IBM Consulting, the partnership uses the IT company's knowledge in the sector and capabilities in hybrid…

The post-pandemic condition due to COVID-19 has slowed down the global economy. The world in lockdowns has shown little signs of progress in this period.

It has been seen that pre-pandemic car sales were on a sound track. According to reports, there was a decline in new motor vehicle sales in 2020. COVID-19 harmed car sales and demands. South- America and Europe were the hardest-hit regions among all other countries.

According to recent reports by Cox Automotive, in 2023, the sell volume will also stay at the same dismal level. It expects net sales to…

Today’s globalized world roams around the most crucial communication tools, entertainment, and information via the internet. Without it, the day feels as if stuck. Again, advancing technology spurs modernization in day-to-day life.

But the real players who dominate the market are known under the acronym GAFAM, now GAMAM or GAMMA: Google, Meta (earlier known as Facebook Inc), Apple, and Microsoft. The market value of these companies makes them the largest internet companies all over the globe. Based on the brand value, these companies are among the top…

2023 is seeing major tech layoffs in some of the world's biggest tech companies. Microsoft, Alphabet, Amazon, and Salesforce are the companies ahead in this layoff in 2023. Among these, Microsoft and alphabet are the latest companies to announce significant job cuts, per the reports.

Big companies like Microsoft, Amazon, etc., and smaller tech firms face declining revenue. This decline is happening since these companies hired binge during the pandemic when lockdowns forced remote work and were suitable for e-commerce.

The inflation crisis has gripped the economy of 2022 for many reasons, including geo-political reasons. But recent studies by International Monetary Fund (IMF) predict the recession is a slowdown. Although the outlook is not that rosy since significant headwinds await ahead.

Reports by the IMF note that global growth is expected to drop from estimated 3.4 percent in 2022 to 2.9 percent in 2023 and again rise to 3.1 percent in 2024. In 2023, the progress in October is estimated to be 2.7 percent as IMF no longer sees a global downturn, with fewer…