China state-owned giants to delist from US stock exchange | Financial Markets News

China state-owned giants to delist from US stock exchange |  Financial Markets News

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

Russians buy last goods from H&M, IKEA as stores begin exit | Russia-Ukraine war News

Russians buy last goods from H&M, IKEA as stores begin exit |  Russia-Ukraine war News

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

Musk countersuit accuses Twitter of fraud | Social Media News

Musk countersuit accuses Twitter of fraud |  Social Media News

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+ answers Biden’s diplomacy with tiny oil-output hike | OPEC News

OPEC+ answers Biden’s diplomacy with tiny oil-output hike |  OPEC News

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

Why China is not sanctioning Taiwan’s key chip industry | Business and Economy

Why China is not sanctioning Taiwan’s key chip industry |  Business and Economy

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 jumped to 24-year high of 79.6 percent in July | Inflation News

Turkey’s inflation jumped to 24-year high of 79.6 percent in July |  Inflation News

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

Horror author Stephen King testifies against $2bn Penguin merger | Arts and Culture News

Horror author Stephen King testifies against bn Penguin merger |  Arts and Culture News

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

Musk’s antics turn Tesla owners, new buyers against it | Business and Economy News

Musk’s antics turn Tesla owners, new buyers against it |  Business and Economy News

Dennis Levitt got his first Tesla, a blue Model S, in 2013, and loved it. β€œIt 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

Top economic takeaways as US wrangles with recession fears | Inflation News

Top economic takeaways as US wrangles with recession fears |  Inflation News

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

As inflation in Argentina skyrockets, everyone is poorer | Business and Economy News

As inflation in Argentina skyrockets, everyone is poorer |  Business and Economy News

Buenos Aires, Argentina β€” 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