Category: fallout
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Asian Markets Brace for AI Fallout After US Rout: Markets Wrap
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Bread path links PMN Business On Tuesday, Asian traders were preparing, after a bruising session in Wall Street, where cracks appeared in the artificial intelligence sector that operates the bull market. The author of the article: Bloomberg News Jason Scott It was published on January 27, 2025 • 6 minutes…
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New Look speeds up store closures as budget fallout bites
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Fashion retailer New Look is set to accelerate store closures as a result of Labour’s tax hike budget, while ‘chicken king’ Ranjit Boparan fights to pass higher costs on to supermarkets – signaling further pressure on UK businesses across the UK. Multiple sectors. It is understood that around a quarter…
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Stellantis chief quits following fallout over Luton van factory closure
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Carlos Tavares, CEO of automobile giant Stellantis, has resigned from his position with immediate effect following reports of disagreements with group chairman John Elkann. The announcement comes just days after Tavares ordered the closure of Stellantis’ Vauxhall van factory in Luton, putting 1,000 jobs at risk. The decision to close…
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Kenya, IMF fallout deepens as State firms’ sale blocked
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A Supreme Court ruling declaring the Privatization Act 2023 unconstitutional appears set to further complicate Kenya’s efforts to secure more than Sh77.5 billion in fresh funding from the International Monetary Fund. The IMF had partly linked the financing plan to a comprehensive overhaul of state-owned enterprises, including the sale and…
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Binance Rejects WazirX’s Claims, Denies Responsibility For Hack Fallout
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Image: medianama The ongoing dispute between leading cryptocurrency exchange Binance and Indian platform WazirX has taken a new turn, with Binance announcing Release A strong response to the allegations made by WazirX and its parent company Zettai. At the heart of the matter lies responsibility for the $230 million crypto…
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Binance Rejects WazirX’s Claims, Denies Responsibility For Hack Fallout
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Image: medianama The ongoing dispute between leading cryptocurrency exchange Binance and Indian platform WazirX has taken a new turn, with Binance announcing Release A strong response to the allegations made by WazirX and its parent company Zettai. At the heart of the matter lies responsibility for the $230 million crypto…
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Fallout From WazirX’s $235M Exploit: Crypto Exchange Files Police Complaint
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After I hit him Huge breakthrough Following a financial scandal that cost its investors $235 million on Thursday, Indian cryptocurrency exchange WazirX has taken immediate steps to mitigate the damage and filed a police complaint to recover the stolen funds. WazirX Launches Legal Prosecution Campaign at recent days to update…
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‘Meltdown’: A week later, WestJet continues to feel the fallout from mechanics strike
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Breadcrumbs Path Links PMN Business Article author: Canadian Press Christopher Reynolds Posted on July 07, 2024 • Read for 3 minutes You can save this article by registering for free here. Or log in if you have an account. WestJet is still feeling the effects of a machinists’ strike a…
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Deadly tax protests leave Kenya facing IMF fallout
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Parliament on Tuesday approved the controversial Finance Bill 2024, backing recommendations to withdraw some taxes, including taxes on bread, airtime and cars, which were part of a package of reforms Kenya agreed to implement in a deal with the International Monetary Fund. The vote on the amended revenue increase bill…
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Euro fallout remains a focus point before the weekend
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The dollar showed great resilience in trading yesterday, despite setbacks caused by a weak Producer Price Index report and weekly jobless claims data. The strong showing at the 30-year Treasury auction may have highlighted some of the larger flows in the markets, with traders shifting their allocations from Europe to…
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Deal or no deal with Hamas – the economic fallout
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The ongoing conflict between Israel and Hamas in the Gaza Strip and the complex situation on Israel’s northern border means that the Israeli economy faces a great deal of uncertainty, which can be expressed in several metrics. For example, the direct confrontation between Israel and Iran contributed to the weakening…