Jane Nelson
- Global Finance News
Fed halts rate hikes as inflation decline slows, growth outlook brightens
A halt in interest rate hikes has been announced by the Federal Reserve, reflecting a response to an unexpectedly robust economy and a reduced pace in inflation decline. In order to simultaneously tackle both economic risks and inflation control, the Federal Open Market Committee unanimously agreed to maintain the current interest rate range. In a statement following the announcement, Fed…
- Global Finance News
Modelo Especial tops US beer sales as Bud Light faces boycott
Constellation Brands’ Modelo Especial has surpassed Bud Light as the leading beer in the US market amidst a conservative backlash against Anheuser-Busch InBev’s Bud Light for partnering with transgender influencer, Dylan Mulvaney. Sales of Bud Light and Budweiser fell considerably by 24.6% and 9.2%, respectively, in the four weeks through June 3, compared to a year ago. In contrast, Modelo…
- Global Finance News
Beyoncé’s tour boosts Swedish inflation as hotel rates surge
The music industry powerhouse Beyoncé has garnered attention for her potential influence on inflation, particularly in Sweden. Last month, as part of the singer’s world tour, two concerts held in Stockholm resulted in increased hotel bookings and restaurant visits. Consequently, Sweden reported a higher-than-expected inflation rate of 9.7% in May. Michael Grahn, an economist at Danske Bank, highlights that the…
- Global Finance News
Bud Light loses top spot in US sales after transgender influencer boycott
Bud Light has lost its status as the top-selling beer in the United States following a boycott, according to recent data. Sales dropped by nearly 25% in the four weeks leading up to June 3, as reported by consulting firm Bump Williams. The boycott began after transgender influencer Dylan Mulvaney shared a photo of a personalised Bud Light can on…
- Global Finance News
AI discrimination more pressing than human extinction, says EU competition chief
The European Union’s competition chief, Margrethe Vestager, has highlighted discrimination as a more urgent concern than human extinction in the development of artificial intelligence (AI). In an interview with the BBC, Vestager emphasised the need for “guardrails” to counter the technology’s risks, particularly in areas where AI is used for decision-making that can impact livelihoods, such as mortgage applications. The…
- Global Finance News
Instant Brands files for bankruptcy amid $1bn liabilities, weak demand
Instant Brands, the company behind Pyrex glassware and Instant Pot multicookers, has filed for bankruptcy protection, citing liabilities of up to US$1bn. The firm attributes its financial troubles to high interest rates and weak demand. With over 2,400 employees, Instant Brands plans to continue operations while restructuring the business. This follows a warning from fellow kitchenware brand Tupperware in April,…
