Browsing: Business

One of Vietnam’s leading shoe manufacturers, catering to brands like Nike Inc and Adidas AG, announced plans to lay off thousands of employees due to a significant drop in orders. PouYuen Vietnam Co, a subsidiary of Taiwan-based Pou Chen Corp,

The United States is facing a potential global economic crisis as it approaches a catastrophic default on its $31.46 trillion debt, according to US Treasury Secretary Janet Yellen. Yellen issued a series of increasingly dire warnings ahead of a meeting

The yuan has hit new record lows against the surging US dollar, with the internationally-traded yuan reaching its lowest point since 2011 and China’s domestic currency hitting its weakest level since the 2008 global financial crisis. This depreciation comes as

Apple Inc.’s shares experienced an uptick in early trading after the tech giant reported a rebound in iPhone sales during the last quarter. The world’s most valuable company managed to surpass earnings estimates despite an industry-wide downturn that has affected

Shopify has announced plans to reduce its workforce by 20%, impacting over 2,000 employees, and has agreed to sell its logistics business to Flexport in exchange for approximately 13% equity. This news comes about 10 months after the company laid

As the slump in Initial Public Offerings (IPOs) and mergers on Wall Street continues to deepen this year, leading advisory firms including Morgan Stanley, Bank of America, and Citigroup have resorted to job cuts. Specifically, Morgan Stanley is planning to

Carl Icahn, the activist investor known for instigating corporate confrontations, has recently become a target himself. Hindenburg Research, a notorious short-selling research firm, disclosed a short call against Icahn’s investment outfit, stirring up considerable criticism for the veteran investor. The

Apple Inc., the Cupertino-based tech behemoth, has garnered unprecedented attention with the recent launch of its Apple Card Savings Account. The introduction of this financial innovation has seen an impressive inflow of nearly $1 billion in deposits within the initial

In a significant financial development, the Nikkei, Japan’s premier stock index, surged to an eight-month high, driven by the Bank of Japan’s (BOJ) decision to sustain its ultra-easy monetary policy. The central bank’s move, along with a series of robust

South Korea has reinstated Japan on its “white list” of trusted trading partners, a significant step towards mending their bilateral economic and diplomatic ties. Three years ago, Japan was removed from the list, which grants expedited trade processes for approved