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The World Bank has warned in an annual report that the global economy will come “perilously close” to a recession this year. On the back of weak economic growth in the world’s top three economies – the US, Europe and China – the World Bank has cut it...

Tesla has trimmed its prices in China again, the second time in under three months, causing speculation of a price war as demand weakens due to monetary tightening measures taking place in developed countries around the world.The automaker has also c...

Cooling inflation has brought some respite in Europe, with price gains easing moderately. However, the cost of living is still high, even if the slowdown hints that weary consumers might be through the worst.The consumer price index in the Eurozone c...

Samsung Electronics is bracing for its worst fourth-quarter performance since 2014 after a marked drop in worldwide demand for memory chips and smartphones.Profits are expected to sink by 69% to $3.4 billion for the October-December period, the South...

Federal Reserve meeting minutes from last month have revealed the extent of the US central bank’s determination to tame inflation, with officials warning investors to expect interest rates to be kept high for some time. Before the meeting, marke...

Apple Inc’s total stock market value slipped on Tuesday, falling below $2 trillion for the first time since early 2021, exactly one year to the day the company became the first public tech company valued at $3 trillion.Apple’s shares fell 4% to $124....

Tesla Inc. this week reported a record number of electric vehicle deliveries in a quarter. However, it still missed Wall Street estimates because of a combination of logistical challenges, softening demand, climbing interest rates, and jitters over a...

IMF Managing Director Kristalina Georgieva has said that 2023 is going to be a tough year as the main engines of global growth – the US, Europe and China – are all going through weakening activity at the same time.Speaking in a television interview,...

Major cryptocurrency exchange Kraken announced it will close its operations in Japan and deregister from the country's main financial regulator at the end of January 2023. The company is one of the world's biggest crypto exchanges, with trading volum...

China will stop sending incoming travelers to quarantine starting from January 8 in an important move toward reducing curbs on its borders, which have been closed since 2020. The country has moved its classification of COVID-19 to the less-severe Cat...

Electric vehicles (EV) are making important market share inroads in the US, with EVs accounting for 5.6% of all new cars sold in 2022. While still a relatively small figure, it represents major growth, as EVs made up just 1.4% of the market as recent...

Mask-wearing commuters in Beijing and Shanghai, China’s two largest cities, are crowding roads and public transport as workers return to factories and offices after tough “Zero-COVID” measures were dropped.Following years of harsh anti-Coronavirus cu...

Concerns about rising interest rates are buffeting Wall Street this week. Following firmer-than-expected reports on the US economy, the Dow Jones Industrial Average tumbled more than 700 points, or 2.2%. The S&P 500 also fell, shedding 2.7%, brin...

The Bank of Japan (BOJ)shocked investors with a surprising change to a key pillar of its monetary policy, causing waves in the currency, bond and equities markets.The Japanese central bank announced that it would loosen the tight limits it had long i...

EU energy ministers have agreed to temporarily cap natural gas prices, after months of furious debate over whether the measure will protect European households and businesses from extreme price spikes during the winter.Europe will trigger the cap if...