Elon Musk, CEO of Tesla Inc, believes a recession will continue until the spring of 2024, he tweeted on Friday, after initially saying this week that “a sort of recession” in China and Europe was weighing on demand for its… Read More ›
Geopolitics
Profits For Visa And Mastercard Are Expected To Rise As Travel Recovers
Despite rising inflation, U.S. card companies are expected to benefit as pandemic-weary consumers continue to fuel demand for travel, one of the biggest contributors to revenue. Analysts predict that as more businesses resume business travel and people plan vacations, Visa… Read More ›
Sistema Of Russia Acquires A $256 Million Stake In Melon Fashion Group Following The Cancellation Of Its IPO
Sistema, a Russian telecoms-to-healthcare conglomerate, agreed to a $256 million deal for a stake in Melon Fashion Group on Wednesday, months after the retail outlet canceled plans for an IPO due to the conflict in Ukraine. Melon, based in St…. Read More ›
Amazon Is Facing A $1 Billion Lawsuit In The United Kingdom For ‘Favoring Its Own Products’
According to lawyers, Amazon.com Inc is facing a lawsuit in the United Kingdom for up to 900 million pounds ($1bln) in damages over allegations that the online marketplace abused its dominant position by favoring its own products. Julie Hunter, a… Read More ›
Morale Of The German Investor Less Pessimistic Than Anticipated – ZEW
In October, German investor sentiment was less pessimistic than expected, despite the fact that the current economic situation left little room for optimism following a drop in confidence the month before. The ZEW economic research institute reported on Tuesday that… Read More ›
British Economy Is Still Paying For Truss’s Growth Strategy Eve After U-Turn
Britain’s new finance minister, Jeremy Hunt, reversed the majority of Prime Minister Liz Truss’s unfunded tax cuts, sparking a rally in battered UK assets. However, UK borrowing costs and mortgage rates remain significantly higher than they were prior to the… Read More ›
India’s Serum Institute Will Develop An Ebola Vaccine For Use In The Uganda Outbreak
The Serum Institute of India plans to manufacture 20,000 to 30,000 doses of an experimental Ebola vaccine by the end of November for use in trials against an outbreak in Uganda, according to reports quoting its developers and company sources. The… Read More ›
Japanese Yen Fall To 32-Year Low Against The US Dollar
The Japanese yen fell to a 32-year low against the US dollar after official data showed that prices in America rose faster than expected. The yen fell to 147.66 per dollar before recovering some ground. Shunichi Suzuki, Japan’s Finance Minister,… Read More ›
EU Leaders May Support A New Gas Price Benchmark, Shows Draft Document
A draft document shows that European Union country leaders may support plans to launch a new gas price benchmark at a meeting next week in order to reduce energy prices for consumers and industries. The leaders will meet on October… Read More ›
US’s Crackdown On China’s Chip Industry Will Not Affect Samsung Or SK Hynix
The Biden administration intends to exempt SK Hynix and Samsung from the brunt of new Chinese memory chipmaker restrictions intended to thwart Beijing’s technological ambitions and obstruct its military advancements, according to reports quoting sources. According to the sources, requests… Read More ›
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