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When the pandemic hit in early 2020, air travel came to a near halt. By April, more than half of the world’s passenger jets were parked. Those 16,000 planes also carry roughly half of the world’s air cargo, over 52 million metric tons of goods every year.
The economic concept is key to understanding how companies price their products. Consumer spending has held up relatively well so far despite inflation, but experts say we’re approaching an inflection point.
Over the past 25 years, Netflix revolutionized the film and television industry. The company amassed over 220 million subscribers across 190 countries.
Amazon ships more U.S. smart home devices than any other company and says Alexa is now compatible with 140,000 devices, far beyond the Echo and Fire TV. But privacy advocates are concerned by all the data these devices collect.
From red-hot inflation to a strong jobs market, and all the negative gross domestic product in between, economists are divided on the health of the U.S. economy. A top concern for Americans: Are there layoffs on the horizon? Economists break down the data
The “Clear Craze” was everywhere in the 1990s, and that included translucent technology like video game controllers, iMacs, all the way to Tamagotchis. But, how did this design come to dominate a decade?
New York’s Harbor is as large as it is complex. It’s home to one of the nation's most critical infrastructure systems: six container terminals moving millions of pounds of cargo in and out every day.
America is a big country, and Americans have always favored big vehicles to traverse it. America gave the world Cadillacs with massive tailfins and oversize pickup trucks.
It's not just the lack of pilots that is impacting aviation. Mechanics, baggage handlers and air traffic controllers are also in short supply. So what led to the shortage of pilots in the USA?
Coinbase went public with a highly anticipated listing in 2021, but as the crypto market crashed, the company’s share price dropped by more than 80%. Now it’s working to diversify its revenue.
Traffic is a growing problem in many U.S. cities. Instead of adding more streets to accommodate cars, a growing movement is pushing to ban them in dense areas like New York City.
The U.S. government wants to collect more weather data from private companies’ satellites, with the goal of improving forecasting while cutting costs. But not enough businesses are collecting the necessary data.
"Quiet quitting" is having a moment. The trend of employees choosing to not go above and beyond their jobs in ways that include refusing to answer emails during evenings or weekends, or skipping extra assignments that fall outside their core duties.
A true marvel of engineering, Apple's Floating Store certainly catches the eye. Known for their great architecture apple has many beautiful buildings such Apple's $5 Billion Headquarters - Apple Park.
On August 24, President Biden announced the cancellation of $10,000 in federal student loan debt for most borrowers. But student loan accounts for less than 10% of household debt in America, which reached $16.15 trillion during the second quarter of 2022
Mexican chili peppers used in Sriracha. Italian risotto rice. American corn that’s used in nearly everything: these crops are vulnerable to high heat, and extreme droughts worldwide are hitting yields which could mean higher prices for staples this winter
Container-ship backlogs from New York to Houston are extending strains on troubled supply chains in the U.S. WSJ’s Paul Berger explains what’s contributing to the congestion and what impact it’s having on the economy.
Most cars now have touch screens in the middle of the dashboard. Some tech heavy cars - such as those by companies like Tesla and Rivian - rely nearly entirely on them. They're also cheaper to make and maintain.
At the onset of the Covid-19 pandemic, China's strict "zero-Covid" policies managed to keep Covid-19 at bay. More than two years later, the country's ongoing controls are weighing down its economy and stalling global supply chains.
Every time you pay with your credit card, it costs the store a small percentage in fees: usually around 3%. And in 2022, Visa and Mastercard raised those credit-card fees again.
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“Even monkeys can fall from their trees.” – Japanese Proverb
Continuing our global learning journey, our next stop is Tokyo Japan. Founded, in 1603, this city was once a small fishing village called Edo. In 1890, it became Tokyo which means Eastern Capital in English.
In Tokyo, you will find the world’s busiest intersection, the Shibuya crossing where 2,500 people cross the intersection, every time the lights turn green. This city also holds the record for the most Michelin starred restaurants at 212 places to enjoy amazing food.
Tokyo is the most populous city in the world with 37 million people. Uniqueness is everywhere, even in vending machines, where you can buy hot meals, fresh produce, and even umbrellas. There is one vending machine in the city for every two people.
Have lost count on the many times I visited Tokyo to experience their modern retail industry. This picture is from the New Otani Hotel gardens, a favorite during multiple visits.
As the Japanese proverb that opened this summary reminds us, no matter how accomplished we become, you can always make a mistake. Overconfidence can lead to missteps. Life is one sweet ride and Japan provides many reminders on how to enjoy it.
Deloitte Global Retail Outlook 2024
After a prolonged period of suppressed consumer spending, macroeconomic and geopolitical uncertainty, and rapid changes in consumer behavior (among other things), the global retail industry stands at a crossroads; forced to make decisions about long term investments in new technology and business models while at the same time managing the rising cost of doing business and a decline in the spending power of consumers. - From Deloitte Insights Read more
The World's Top Flight Routes by Revenue
In 2024, a record 4.7 billion people are projected to travel by air—200 million more than in 2019. While revenues surged to an estimated $896 billion globally last year, airlines face extremely slim margins. On average, they made just $5.44 in net profit per passenger in 2023. Today, the industry faces pressures from high interest rates, supply chain woes, and steep infrastructure costs. - From Visual Capitalist
The World Ahead 2024: five stories to watch out for
From the biggest election year in history, to how to control AI and even taxis that fly, The Economist offers its annual look at the world ahead. Read more
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