Global Economy
Unilever beats third-quarter underlying sales estimate
The consumer goods giant said on Thursday it was keeping its full-year outlook for 3-5 percent underlying sales growth and an underlying operating margin of at least 18 percent
US fines Apple and Goldman Sachs over Apple Card
Apple failed to send tens of thousands of customer disputes about credit card transactions to Goldman Sachs, and when it did the bank did not follow federal requirements for investigating claims, the bureau said
Boeing workers reject contract, extend strike: union
64 percent of the members of the International Association of Machinists and Aerospace Workers District 751 rejected the contract, the union said on X
US ‘very close’ to soft landing
The United States is very close to achieving a soft landing, the rare feat of tackling inflation without spurring a long recession, the IMF’s chief economist told AFP.
India lifts export tax on parboiled rice
The removal comes amid bumper harvest projections and surplus stock
US remains engine of global growth in latest IMF forecasts
IMF raised its 2024 and 2025 economic growth forecasts for the US - the only developed economy to see its outlook marked up for both years
IMF lowers China 2024 growth forecast, warns property woes 'could worsen'
China's leaders are targeting annual growth of five percent this year -- a goal challenged by weak consumption and a prolonged and debilitating debt crisis in the colossal property sector
HSBC merges commercial, investment banking units
HSBC Holdings said on Tuesday it would combine some of its commercial and investment banking operations in a major overhaul under new CEO Georges Elhedery, which will see it cut costs while trying to improve returns.
US consumer inflation cools to lowest since early 2021
US consumer inflation cooled in June to its lowest rate since early 2021, according to government data released Wednesday -- an encouraging sign for policymakers battling cost-of-living pressures.
India considers banning most rice exports
India, the world's biggest rice exporter, is considering banning exports of most rice varieties, Bloomberg News reported on Thursday.
China’s export slide to steepen
China’s export slump is expected to have accelerated in June, as sluggish overseas economies struggling with inflation and rising interest rates buy up fewer goods from Chinese factories.
Yellen raised China’s hopes for tariff cuts but US politics may crush them
US Treasury Secretary Janet Yellen’s trip to China has raised hopes in Beijing that Trump-era tariffs on Chinese imports may be eased as she tries to smooth relations between the two nations, but strong anti-China sentiment in the US may make that impossible.
Global public debt reaches record $92tr
Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the Covid-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said.
Dollar hits 2-month low
Bets on a screeching slowdown in US inflation data later saw traders shove the dollar to a 2-month low on Wednesday and push stocks up and bond market borrowing costs down for a third day running.
Rupee gains for second day
The Indian rupee rose for a second straight session against the US dollar on Tuesday, mirroring similar moves in Asian peers, as risk appetite in the region rose on fresh bets of the Federal Reserve nearing the end of its rate tightening cycle.
UK jobless rate rises amid high inflation
UK unemployment rose back to four per cent in the three months to the end of May, official data showed Tuesday, as the economy struggles with stubbornly-high inflation.
Sri Lanka to focus on energy, port projects with India
Sri Lanka is likely to discuss energy, power and port projects during a presidential visit to New Delhi next week, the foreign minister said on Monday, as India tries to push forward stalled initiatives with its crisis-hit neighbour.
Pakistan gets $2b deposit from Saudi Arabia
Pakistan’s desperately low foreign exchange reserves were boosted on Tuesday with a $2 billion deposit from Saudi Arabia, ahead of a key IMF meeting this month to approve a new deal.