• May 19, 2024
Virgin Orbit: Richard Branson’s rocket firm files for bankruptcy
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Virgin Orbit: Richard Branson’s rocket firm files for bankruptcy

By Michael Race Business reporter, BBC News   British billionaire Sir Richard Branson’s rocket company Virgin Orbit has filed for bankruptcy in the US after failing to secure new investment. The satellite launch company halted operations weeks ago but it hopes to find a buyer for the business. The company, based in California, announced last […]

Energy and food drive US inflation to highest for 40 years
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Energy and food drive US inflation to highest for 40

By Natalie Sherman Business reporter, New York Prices in the US rose faster than expected last month, as rising energy and food costs pushed inflation to the highest rate since 1981. The annual inflation rate rose to 8.6% in May, the Labor Department said, after easing in April. The rising cost of living has been […]

Cost of living: The shock of rising prices in Japan
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Cost of living: The shock of rising prices in Japan

By Mariko Oi Asia business correspondent As a child growing up in Japan, things very rarely seemed to get more expensive. My favourite lunch was always available for a 500 yen coin ($3.90; £3.10) and it remained that way until 2021. The same for shoes or clothes, little changed. I was taught to save, save […]

India’s loan scams leave victims scared for their lives
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India’s loan scams leave victims scared for their lives

By Priti Gupta & Ben Morris Mumbai When Raj took out a loan for $110 (£87) in March, he thought it would swiftly solve his financial problems, instead it has made his life much, much worse. The Pune-based man had been lured into one of India’s many digital loan scams. Like many, Raj (not his […]

Elon Musk threatens to walk away from Twitter deal
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Elon Musk threatens to walk away from Twitter deal

  Elon Musk has threatened to walk away from his $44bn takeover of Twitter, accusing the social media company of “thwarting” his requests to learn more about its user base. In a letter filed with regulators, Mr Musk said he was entitled to do his own measurement of spam accounts. The letter formalises a dispute […]

Shanghai lockdown: China’s financial hub set to lift Covid curbs
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Shanghai lockdown: China’s financial hub set to lift Covid curbs

By Peter Hoskins Business reporter Coronavirus pandemic   Authorities in Shanghai have announced that some Covid-19 lockdown measures imposed on businesses will be lifted from Wednesday. Plans have also been introduced to support the city’s economy, which has been hit hard by the restrictions. The commercial centre has been under a strict lockdown for almost […]