In a bold move to reinvigorate its troubled space and defense operations, Boeing’s new CEO Kelly Ortberg has announced the immediate departure of Ted Colbert, the head of the unit. This shift in leadership marks a significant turning point amid growing challenges and operational setbacks that have plagued the aerospace giant. The decision reflects Ortberg’s
productivity
The promise of a resurgence in U.S. manufacturing has been a hot topic in recent years. However, the reality is far from the optimistic picture painted by political figures. The decline of U.S. manufacturing over the last few decades is evident in the data. While there have been modest increases in output in certain industries
The European Central Bank (ECB) recently held its rates steady and its President, Christine Lagarde, hinted at the possibility of further interest rate cuts in the near future. While Lagarde stopped short of declaring victory over the bout of high inflation caused by the COVID-19 pandemic, two ECB policymakers, French governor Francois Villeroy de Galhau
The U.S. job market is expected to have experienced slower growth in June, with the unemployment rate holding steady at 4%. While the economy continues to expand, the pace of job creation is likely to have cooled off. This slowdown in job growth may indicate that the Federal Reserve will be able to control inflation
The recent rise in U.S. and global bond yields is causing turmoil in Asian markets, with investors feeling the effects of a strengthening dollar and tighter financial conditions. The lack of significant economic data and events in Asia on Thursday has left market participants to contemplate the implications of this trend, leading to a decline
As per the accountancy firm PwC, the industries that are inclined towards adopting artificial intelligence are experiencing a significant growth in productivity when compared to other sectors. A report by PwC revealed that professional services, financial services, and information technology sectors witnessed a remarkable 4.3% increase in productivity between 2018 and 2022. This growth far
Sri Lanka is set to unveil a new economic transformation law that aims to attract investors and boost productivity, as stated by the country’s state minister of finance. The law, approved by the cabinet and backed by the IMF, will be presented to parliament this week, signaling a crucial step towards sustainable growth and recovery
In a bold move towards technological advancement, Swedish financial technology company Klarna has reported that a significant majority of its workforce is now utilizing generative artificial intelligence tools as part of their daily tasks. With over 87% of its employees engaging with AI tools such as OpenAI’s ChatGPT and the company’s own internal AI assistant,
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