Thursday’s business headlines
INDIANAPOLIS (WISH) — Take a look at Thursday’s business headlines with Jane King.
Global oil demand likely to hit record levels this year
Global oil demand is expected to hit its highest-ever level this year on the back of China’s swift reopening of its economy.
The International Energy Agency said in its latest monthly report oil demand could surge this year.
Party City files for bankruptcy
Party City has filed for bankruptcy to cut debt following dwindling sales.
Party City has for years battled competition for party goods and decorations, especially from big-box chains and online retailers that sell a wider variety of merchandise.
Target in particular has increased its party supplies.
Its stores will stay open during the bankruptcy.
Twitter bracing for more layoffs
Twitter is seeing rolling layoffs despite Elon Musk’s claims that he was done laying people off.
More employees are expected to be let go in the coming weeks.
Twitter’s headcount could soon be under 2,000 people. That would make it a far smaller company than it’s been in over a decade.
Stocks ended Wednesday with a thud. As fears grow the economy may be headed for a slowdown.
The Dow lost more than 600 points.