Party City is filing for bankruptcy

New York CNN — Party City filed for bankruptcy protection on Tuesday, weighed down by competition and years of financial losses. The largest party and Halloween specialty retailer in the United States said in a filing that it has reached an agreement with debt holders to reduce its $1.7 billion debt burden. The company said … Read more

Bud Light and Budweiser are getting a makeover at this year’s Super Bowl

New York CNN — Anheuser-Busch may no longer be the only alcohol brand advertising during the Super Bowl, but it will still have a big presence — even if rivals seize the opportunity after a 33-year drought. The beer company announced Thursday that it will have three minutes of national airtime during this year’s big … Read more

Debt ceiling: Here’s what you need to know as the threat of default looms

CNN — The clock is now ticking to avoid a financial crisis. The US hit its debt ceiling on Thursday, prompting the Treasury Department to take extraordinary measures to avoid bankruptcy. While Treasury Secretary Janet Yellen doesn’t expect the US to default before early June, Congress needs to get serious about negotiating a solution, which … Read more

France strikes: Workers walk out in mass protests against plans to raise retirement age

Paris/London CNN — Trains and flights were canceled in France, primary schools were closed and thousands of police officers were deployed as unions staged nationwide strikes on Thursday to protest the government’s plan to raise the retirement age for most workers. Protests in major French cities, including Paris, Marseille, Toulouse, Nantes and Nice, halted transport. … Read more

Davos attracts a record number of people, but its relevance is fading

London CNN — For decades, business leaders, billionaires and politicians have gathered in Davos, Switzerland, under the banner of forging bonds that can help solve global problems. It’s a glitzy exercise that’s often criticized as unattainable. It also seems increasingly outdated as Europe’s biggest war since 1945 deepens the splits in the global economy. This … Read more

Expert warning to the US Navy about China: A larger fleet almost always wins

Seoul, South Korea CNN — As China continues to grow what is already the largest navy in the world, a professor at the US Naval War College has a warning for US military planners: In naval warfare, the larger fleet almost always wins. Writing in the January issue of the US Naval Institute’s Proceedings magazine, … Read more

The Russian war in Ukraine led to a historic food crisis. It is not over yet

London CNN — Grain leaves Ukrainian ports again. Fertilizer prices are falling sharply. Billions of dollars in aid have been mobilized. Yet the world is still in the grip of the worst food crisis in modern history, as the Russian war in Ukraine shakes global farming systems already grappling with the effects of extreme weather … Read more

Oxfam: The top 1% have acquired almost twice as much new wealth in the past two years as the rest of the world

New York CNN — The richest citizens of the world have become much richer in the past two years, much faster than everyone else. The top 1% acquired nearly twice as much new wealth as the rest of the world in that period, according to Oxfam’s annual inequality report released on Sunday. Their fortunes increased … Read more

India is about to become the most populous country in the world. Can it create enough jobs?

New Delhi CNN — India will overtake China this year to become the most populous country in the world. The odds of India hitting that key milestone in a few months skyrocketed on Tuesday, as China reported that its population shrank in 2022 for the first time in more than 60 years. This shift will … Read more

Andrew Tate investigation: Romanian authorities seize nearly $4 million in assets

CNN — Romanian authorities said they seized nearly $4 million worth of assets belonging to controversial internet personality Andrew Tate last week as he and his brother are investigated on human trafficking and rape charges. About 18 million lei, equivalent to $3,942,700, has been seized, the country’s Asset Recovery and Management Agency (ANABI) said in … Read more