Commercial aviation industry members in Europe are expecting the costs of air travel to rise amid a campaign to transition away from fossil fuels. European airline industry members are aiming to reach net-zero aviation carbon emissions over the next 27 years as part of a plan called Destination 2050. The carbon-reduction effort is largely centered…
Decarbonization Campaign Will Raise Flight Costs for Consumers, European Air Travel Experts Warn
April 17, 2023
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Amazon CEO Says Rising Costs Are a ‘Critical Challenge’ as Inflation Pressures Remain
Despite a past year full of challenges, Amazon’s CEO said he is optimistic for the future and that cost-cutting will have a positive result. Andy Jassy said in the letter to shareholders for 2022, published Thursday, that “AWS is now an $85 billion annual revenue run-rate business,” referring to Amazon Web Services, the world’s biggest…
Eurozone Labor Costs Jump 5.7 Percent Year on Year in 4th Quarter
March 17, 2023
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BRUSSELS—Eurozone labor costs jumped in the last three months of 2022 and third-quarter data was revised up as well, but the rise of the wage component was still roughly half the increase in consumer inflation, data showed on Friday. The European Union’s statistics office Eurostat said labor costs in the 19 countries that shared the…
Ticketing Service Provider Eventbrite to Lay Off 8 Percent Workforce
Eventbrite Inc. said on Tuesday it will eliminate about 8 percent of the company’s workforce, as the ticketing service provider looks to cut costs amid worries of an economic downturn. Shares of the company were up nearly 3 percent at $9 in extended trading. The company joins a growing list of firms in corporate America—from…
General Motors Cutting Salaried Employees, Executives as Part of ‘Structural Costs’ Reduction Effort
General Motors Co. is cutting an unspecified number of salaried and executive staff positions as part of what it says is an effort to lower costs, improve performance, and beat the competition. General Motors chief people officer Arden Hoffman made the announcement in a memo to employees published by Reuters. The Epoch Times cannot confirm the…
Addicted Renters, Inflation, and Mortgage Costs Trouble Landlords
Rising inflation and mortgage rates as well as a proliferation of addiction issues have compounded challenges for Canadian landlords. Many tenants, meanwhile, are struggling to come up with the rent each month in a time of economic hardship. In Regina, Saskatchewan, Kim Besler said it’s so hard to find decent tenants, she accepts a small…
Musk Outlines Tesla’s Recession Playbook: Claw Back Costs
Elon Musk has a playbook for Tesla headed into what he believes will be a “serious” recession: cut costs on everything from parts to logistics, while keeping the pressure on competitors with discounted sticker prices. In a conference call to discuss Tesla’s fourth-quarter results, Musk and other executives outlined plans to reshape the electric vehicle…
Paxton Launches Investigation Into Drugmakers Over Inflated Insulin Costs
Texas Attorney General Ken Paxton has launched an investigation into drug manufacturers, wholesalers, and pharmacy benefit managers (PBMs) over potential legal violations related to inflated costs of insulin, a life-saving drug relied upon by millions of diabetics. Insulin prices are exponentially higher in the United States than in other developed countries, but over the last…
Reality vs. Perception Makes My Head Hurt
Had it not been required to graduate, I would never have taken the class titled simply: Philosophy. Abstract thinking makes my head hurt. That’s why I felt a headache coming on when I heard television psychologist Dr. Phil say on his show, “There is no reality, only perception.” In a flash I was back in…
McDonald’s Hikes Prices in Japan on Higher Input Costs, Weaker Yen
TOKYO—Japan’s McDonald’s fast food restaurants will raise prices on about 60 percent of its offerings to customers, fueled by rising input costs and exchange-rate fluctuations, the company said on Monday. It marks the company’s second set of price increases this year as Japan grapples with inflationary pressures and a slide in the yen to a…
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