LONDON — The Bank of England on Thursday held interest rates steady at 5.25%, but hinted at cuts on the horizon as inflation falls faster than expected. The Monetary Policy Committee voted 8-1 to keep rates steady, with one member voting to cut by 25 basis points to 5%. Notably, no members voted for further … Read more
The Google office in New York on February 2, 2023. Ed Jones | Afp | Getty Images Allison Croisant, a data scientist with about a decade of experience in technology, was laid off by PayPal earlier this year, joining the masses of unemployed across her industry. Croisant has one word to describe the process of … Read more
The European Central Bank must take its time to get interest rate cuts right, the institution’s chief economist told CNBC, adding that companies should take a hit on profits to allow real wages to rise without fueling inflation. “A lot of evidence is accumulating, but what’s also fair to say is that the transition from … Read more
A Shell logo displayed on a sign at a gas station in Nakuru, Kenya. Sopa Images | Lightrocket | Getty Images British oil giant Shell on Thursday announced plans to moderate its near-term carbon emissions cuts, while maintaining its pledge to become a net-zero company by the middle of the century. In its latest energy … Read more
European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates. Staff projections now see economic growth of 0.6% in 2024, from a previous forecast of 0.8%. They presented a more positive picture on inflation, with the forecast for the year brought to … Read more
LONDON — British Treasury chief Jeremy Hunt is seeking to bolster spirits within his Conservative Party ranks with a series of tax cuts that he hopes can turn the political dial ahead of a general election this year. Even though the British economy has hit one definition of recession and public finances will remain stretched … Read more
Rachel Maddow cut into MSNBC’s live feed of Donald Trump’s victory speech on Super Tuesday with two words that elicited a chuckle in the studio. “Yeah. OK,” said Maddow, moments after the former president and Republican 2024 front-runner claimed he’d recently read an article describing his campaign as “one of the finest run” ever. Maddow … Read more
TechCrunch Mobility is a weekly newsletter dedicated to all things transportation. Sign up here — just click TechCrunch Mobility — to receive the newsletter every weekend in your inbox. Subscribe for free. Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. I was in Los Angeles earlier this … Read more
Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023 Alex Halada | AFP | Getty Images Heavyweight oil producers Saudi Arabia and Russia will extend their voluntary crude supply cuts until the end of the second quarter. The … Read more
Bumble, a once-powerful force in online dating, is facing a reckoning. The company posted weak Q4 2023 results today showing a $32 million net loss and $273.6 million in revenue. While up from the same period a year ago, earnings came in below Wall Street expectations and were paired with a disappointing Q1 2024 forecast … Read more