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US debt ceiling crisis: Why Joe Biden is wary of invoking the 14th Amendment
Joe Biden and his administration have been searching for ways to act unilaterally to avoid an economic ‘calamity’ if Congress can’t reach agreement to allow more borrowing. While some advocate using the 14th Amendment, the president has viewed the route as a problematic and untested legal theory
Explained: How a US debt default would affect the global economy
The repercussions of a first-ever default on the US federal debt would quickly reverberate around the world. Experts say that 'no corner of the global economy would be spared'
India scraps the Rs 2000 note: Will this affect the economy?
The Rs 2000 note will remain legal tender but citizens have been asked to deposit or exchange these notes by 30 September. Analysts say this time the move is expected to be less disruptive as a lower value of notes is being withdrawn over a longer period of time
Singapore Airlines pays 8 months' salary to staff after record profit
The Singapore Airlines group, which includes budget airline Scoot, recorded a net income of $1.6 billion (over Rs 13,000 crore) annually
Is India planning to tax Netflix's operations in the country?
India is seeking to tax Netflix Inc's income earned from streaming services in the country. Tax officials reasoned that the US firm had some employees and infrastructure from the parent entity on secondment, leading to tax liability
What is the Japanese harassment practice of Owahara? Why is the government cracking down on it?
Owahara is a form of harassment wherein Japanese companies first offer students jobs and then insist they not hold talks with rival firms. The government has asked businesses to stop this practice as it ‘hampers freedom’
Gap announces executive shakeup amid losses in holiday quarter, drop in sales
Old Navy, which is responsible for the majority of Gap’s revenue, reported $2.2 billion in sales in the last quarter, down 6 per cent from a year earlier
Ulta Beauty posts strong holiday quarter results, exceeds Wall Street expectations; details here
Ulta Beauty is expecting its full-year revenue for 2023 to range between $10.95 billion and $11.05 billion and earnings per share to be between $24.70 and $25.40
Lebanon adopts 'dollarization' as currency, economy crumble
Businesses are increasingly leaning on one of the world's most reliable assets — the US dollar — as a way to cope with the worst financial crisis in its modern history
Charles Koch appoints co-chief executive from outside namesake family; details here
Koch Industries began as a 300-person oil and ranching business and now stands at the second spot in Forbes’ revenue-based ranking of private American companies
Japan's hotel recovery stalls due to slow return of Chinese tourists: Report
Following a government campaign, a recovery was seen in Japan's hotel occupancy rates from October last year
Pfizer in talks to acquire biotech company Seagen: Report
Pfizer sees Seagen as a way to add to its chain of targeted cancer therapies. The acquisition of Seagen can also help Pfizer, which earned $100 billion in sales last year, move closer to its target of adding $25 billion in revenue by the end of this decade from business-development moves
Gold prices today: 10 grams of 24-carat priced at Rs 56,730; silver at Rs 68,800 per kilo
In accordance with the data on Multi Commodity Exchange (MCX), the gold futures, maturing on 5 April 2023, dropped by 0.41 percent to trade at Rs 55,855
Japanese firm Toray plans to set up new research base by 2026, says report
At present, the next-generation aircraft in the urban air mobility sector utilise the modified versions of carbon fibre materials
Washlet maker Toto planning to double showroom network in US; details here
While Toto mainly sells high efficiency toilets in the US, it plans to put more of its attention towards its signature Washlet bidet toilet seats
China announces new rules for overseas IPOs, details here
Chinese companies have struggled to list abroad amid increasing security from the US Securities and Exchange Commission as well as at home.
US: Western states see high resignation rates than New York, California
In terms of quit rate, New York also had the lowest in any state in December at 1.8 percent, followed by New Jersey and Massachusetts at 1.9 percent.
Travel companies expect sector to rebound as Americans spend more on trips: Report
Factors like raise in wages, flexible remote-work policies, early retirements by the baby boomer generation and looser travel restrictions in Asia can also play a big role in boosting travel
American companies shift focus to rehiring ex-employees, says report
To boost hiring, some food companies have increased hourly wages, offered bonuses, introduced flexible shifts and hired temporary workers
How spy balloon incident throws spotlight on China's military-civil bond
The international uproar over high-altitude balloons has shed light on China's ‘military-civil fusion’ programme. Chinese president Xi Jinping has pushed for the recruitment of commercial businesses to help build what he has described as a world-class military to guard Beijing's rise as a superpower