The ECB has highlighted its commitment to developing a digital euro and has explicitly stated that the digital currency will adhere to three principles: preserve European strategic autonomy, reduce rent extraction by payment service providers, and serve as a robust monetary anchor when cash transactions decline. This column argues that a fourth, implicit objective – […]
Financial firms that enforce strict return-to-office mandates could drive employees to leave, according to a study published Tuesday by accounting firm Deloitte. Of 700 financial executives surveyed by Deloitte, 66% who worked remotely part time said they would likely quit if they were ordered to return to the office five days a week. “Professionals – […]
The U.S. Commerce Department said on Wednesday that more than 460 companies have expressed interested in winning government semiconductor subsidy funding in a bid to boost the country’s competitiveness with China’s science and technology efforts. The White House is marking the one-year anniversary on Wednesday of President Joe Biden’s signing of the landmark “Chips for America” legislation […]
Spain’s third heatwave of the summer was set to reach its peak on Wednesday, with temperatures hitting up to 44 degrees Celsius (111 degrees Fahrenheit) in central and southern areas as authorities warned of the risk of wildfires. The mercury could also rise to 40 C in the Basque Country in northeastern Spain, which is […]
Cathay Pacific Airways reported on Wednesday its best first-half profit in more than a decade and announced plans to order more planes and repay a Hong Kong government rescue package after a major turnaround in travel demand. The interim net profit of HK$4.3 billion ($550.22 million), in line with its guidance for earnings of up to […]
Japan’s Sony logged a hefty drop in first-quarter profit, hurt in part by a weaker performance from its movie division but the entertainment giant remained hopeful about prospects for a record year for its PlayStation 5 console. Operating profit slid 31% to 253 billion yen ($1.8 billion) in April-June, in line with estimates and also pulled […]
Japan’s Honda Motor reported a 78% rise in quarterly profit on Wednesday, boosted by increased sales, especially in the North American market, and a weaker yen. Japan’s second-biggest automaker by sales said its operating profit totalled 394.4 billion yen ($2.76 billion) in the three months through June, handily beating the average 324.74 billion yen estimate in […]
Online gaming platform Roblox missed estimates for second-quarter bookings on Wednesday as waning demand for its online games and intensifying competition hurt growth, sending its shares down nearly 20%. Shares of the company were set for their worst day in 10 months and on track to erase nearly all its gains this year, if losses hold […]
Progress towards SDG 4, which aims to provide high-quality education and lifelong learning opportunities for all children, was severely disrupted by COVID-19. Even prior to the pandemic, most countries were not on track to achieve this goal with over half of children in low- and middle-income countries experiencing learning poverty, that is, being unable to […]
With close to 80 percent of age-10 children in Honduras experiencing learning poverty—which means that they are unable to read and understand a simple text— it’s never been more critical to expand children’s access to books and improve opportunities for children to learn and read at home. Reading is an essential skill that unlocks the door to […]
