The only G-7 leader scheduled to attend the World Economic Forum’s annual summit in Davos next week is German Chancellor Olaf Scholz, who will speak on the main stage for the second time since taking office in 2021. It is… Read More ›
Month: January 2023
UK Economy Grew Faster Than Expected In November
Official figures show that the UK economy unexpectedly expanded in November, aided by a boost from the World Cup. The economy grew by 0.1%, aided by demand for services in the technology sector and despite rising prices putting pressure on… Read More ›
South Koreans Spend The Highest Globally On Luxury Goods
South Koreans are the world’s biggest spenders on personal luxury goods per capita, according to Morgan Stanley, whether it’s calf-leather Italian Prada bags or classic, checkered British Burberry trench coats. According to the investment bank, total South Korean spending on… Read More ›
More Than 40% Pay Cut For Apple Boss Tim Cook In 2023
This year, Apple CEO Tim Cook’s annual salary will be reduced by more than 40%. According to the technology giant, Mr Cook requested the cut in response to shareholder criticism. The compensation committee at Apple awarded him a total “target… Read More ›
Sale Of Russian Cars Plummet By 58.8% In 2022 Due To Sanctions
Car sales in Russia will fall by 58.8% in 2022, according to the Association of European Businesses (AEB), as the industry grapples with the impact of Western sanctions on Moscow. Following the imposition of sanctions over Moscow’s military actions in… Read More ›
Review Of The UK’s ‘Golden Visas’ Reveals The Risk Of Linkage To Illicit Money
According to the British government, a small number of people who obtained so-called “golden visas” for wealthy investors may have obtained their wealth through corruption or other illegal financial activity. In the days before the invasion of Ukraine, the government… Read More ›
JPMorgan Predicts 1% Growth In the Australian Economy From China’s Reopening
According to JPMorgan, the end of China’s zero-covid policy over the next two years could benefit Australia’s economy significantly. “China’s shift toward an earlier reopening raises the question of potential implications for the Australian economy,” JPMorgan’s chief investment strategist Tom… Read More ›
UK Recession Will Limit Food Retail Sales Growth In 2023, According To Nielsen IQ
Weak confidence in personal finances and a squeeze on disposable income will limit food retail sales growth to around 5% in 2023, trailing inflation and December’s growth rate, according to NielsenIQ data released on Tuesday. In November, the Bank of… Read More ›
$8bn Crypto Withdrawals Hits US Bank Silvergate
Customers of the cryptocurrency-focused US bank Silvergate have withdrawn more than $8 billion in crypto-linked deposits. In the final three months of 2022, roughly two-thirds of the bank’s customers withdrew their deposits. To cover the costs and remain liquid, the… Read More ›
India Is Growing Fond Of Electric Vehicles, But They Are Not Cars
Most people associate electric vehicles with automobiles. Global sales of electric vehicles have increased dramatically, with brands ranging from Tesla and Rivian in the United States to Nio and XPeng in China. The International Energy Agency reported that two million… Read More ›
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