Gloomy Alphabet and Microsoft results fueled fears of a global economic downturn, derailing an earnings-led surge in stock markets on Wednesday, while setting the tone for results from other megacap technology behemoths. The Nasdaq fell nearly 2 per cent as… Read More ›
Tightening markets for liquefied natural gas (LNG) around the world, combined with major oil producers cutting supply, have thrown the world into “the first truly global energy crisis,” according to the head of the International Energy Agency (IEA). Rising LNG… Read More ›
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 ›
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, 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 ›
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 ›
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 ›
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 ›
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 ›
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 ›
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