The delisting adds to a growing financial rift and growing tensions between the two biggest economies. Three state-owned Chinese corporate giants announced plans Friday to remove their shares from the New York Stock Exchange, adding to a growing financial separation between the biggest global economies in the middle of a dispute about scrutiny of company … Read more
Mega-retailers H&M and IKEA are unloading their stocks in Russia as they wind down their business in the country. Russians are snapping up Western fashion and furniture this week as H&M and IKEA sell off the last of their inventory in Russia, moving forward with their exit from the country after it sent troops into … Read more
The Tesla CEO is seeking to free himself from the $44bn Twitter buyout agreement, which he has tried to cancel. Elon Musk accused Twitter of fraud in a countersuit over his aborted $44bn deal for the social media company, which he claimed held back necessary information and misled his team about the true size of … Read more
OPEC+’s small increase in output offers little comfort for consumers hit hard by soaring oil prices. OPEC+ responded to months of diplomatic efforts from US President Joe Biden with one of the smallest oil production increases in its history. The cartel will add only 100,000 barrels a day of oil in September, giving a tight … Read more
China has turned to the familiar playbook of trade restrictions following US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan. After Pelosi proceeded with her trip to the democratically-ruled island in spite of Beijing’s warnings, Chinese authorities suspended imports of Taiwanese citrus fruits and fish, and exports of sand. State media also announced that … Read more
Turkey’s inflation has been fueled by the lira’s continued decline as well as the economic consequences of Russia’s invasion of Ukraine. Turkish inflation rose to a fresh 24-year high of 79.6 percent in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed prices higher, though the price … Read more
The proposed deal could see the biggest book publisher, Penguin, take over Simon & Schuster, which is the fourth largest. By Sabrina WillmerBloomberg Published On 2 Aug 2022Aug 2, 2022 Best-selling horror author Stephen King tested against Penguin Random House’s proposed $2.18 billion acquisition of Simon & Schuster, saying it would weaken competition in the … Read more
Dennis Levitt got his first Tesla, a blue Model S, in 2013, and loved it. “It was so much better than any car I’ve ever driven,” the 73-year-old self-storage company executive says. He bought into the brand as well as Elon Musk, Tesla Inc.’s charismatic chief executive officer, purchasing another Model S the following year … Read more
Back-to-back GDP slowdown, Fed doubling down, a cooling jobs market, red-hot prices, tech’s big bang and other economic highlights from a busy week. It was an eventful, data-packed week for the US economy. The Federal Reserve, the country’s central bank, raised interest rates by 75 basis points on Wednesday, the second time in as many … Read more
Buenos Aires, Argentina — After Ivana Roa lost her job a few years ago as a manager at an energy company, she went back to school to study law and economics with the aim of building a new career and income. But those hopes are dwindling fast as a deepening economic crisis is breaking thirty-year … Read more
