International Business

Global Economic Slowdown Intensifies As China Services Activity Contracts Again

Global Economic Slowdown Intensifies As China Services Activity Contracts Again

Edited by Rahul Karunakar | Monday June 06, 2022, New Delhi

In yet another sign of a global economic slowdown, China's services activity contracted for the third month in a row in May.

"Super Bad Feeling" About Economy: Elon Musk Warns Of Tesla Job Cuts

"Super Bad Feeling" About Economy: Elon Musk Warns Of Tesla Job Cuts

Reuters | Friday June 03, 2022, San Francisco

Tesla chief executive Elon Musk said he had a "super bad feeling" about the economy and that the electric carmaker needed to cut staff by around 10%, according to an internal email seen by Reuters.

Emerging Market Forex Rallies Seen Short-Lived Due To High Inflation: Report

Emerging Market Forex Rallies Seen Short-Lived Due To High Inflation: Report

Reuters | Thursday June 02, 2022, Johannesburg/Bengaluru

Battered emerging market currencies will struggle to hold on to recent gains towards year-end as U.S. Federal Reserve interest rate hikes and inflation concerns keep the dollar in the forefront, a Reuters poll found.

Meta Platforms To Trade Under Ticker Symbol 'META' From June 9

Meta Platforms To Trade Under Ticker Symbol 'META' From June 9

Reuters | Wednesday June 01, 2022

Meta Platforms Inc said on Tuesday its Class A common stock will begin trading on the Nasdaq under the ticker symbol 'META' prior to market open on June 9, replacing its current ticker symbol 'FB'.

Toyota Misses Production Target In April Due to Covid, Parts Shortage

Toyota Misses Production Target In April Due to Covid, Parts Shortage

Reuters | Monday May 30, 2022, Tokyo

Japan's Toyota Motor Corp on Monday said it missed its global production target for April as Covid-19 outbreaks and a parts shortage slowed its post-pandemic recovery.

Ex-CEO Jack Dorsey Steps Down From Twitter Board

Ex-CEO Jack Dorsey Steps Down From Twitter Board

Kurt Wagner, Bloomberg | Thursday May 26, 2022

Twitter Inc. director Egon Durban, the co-Chief Executive Officer of private equity firm Silver Lake, failed to get enough votes for re-election to the board during the company's annual shareholder meeting Thursday.

World Economy Has "Buffer" Against Recession: IMF's Gita Gopinath

World Economy Has "Buffer" Against Recession: IMF's Gita Gopinath

Reuters | Tuesday May 24, 2022, Davos, Switzerland

While the world economy faces headwinds, current growth forecasts offer a buffer against a potential global recession, IMF's senior official said

Chipmaker Broadcom In Talks To Buy Cloud Company VMware: Report

Chipmaker Broadcom In Talks To Buy Cloud Company VMware: Report

Reuters | Monday May 23, 2022

Chipmaker Broadcom Inc is in talks to acquire cloud service provider VMware Inc, people familiar with the matter told Reuters.

Indonesia To Lift Ban On Palm Oil Exports Next Week

Indonesia To Lift Ban On Palm Oil Exports Next Week

Agence France-Presse | Thursday May 19, 2022, Jakarta

Indonesia will lift its ban on palm oil exports next week, President Joko Widodo said Thursday, relieving pressure on the global vegetable oil market after prices spiked because of the suspension and the war in Ukraine.

Venture Capitalists Catch Crypto Fever, Stampeding Towards WEB 3.0

Venture Capitalists Catch Crypto Fever, Stampeding Towards WEB 3.0

Reuters | Saturday May 14, 2022

Scared of being left in the digital dust, private equity investors are stampeding towards crypto projects - blockchain-based apps and platforms fuelled by cryptocurrencies that are native to the virtual economies of the metaverse and Web3.

Will Interest Rate Hikes Cause A Recession? Here's How To Strategize

Will Interest Rate Hikes Cause A Recession? Here's How To Strategize

Claire Ballentine and Charlie Wells, Bloomberg | Thursday May 05, 2022

The U.S. Federal Reserve just raised interest rates by the most in 22 years, prompting fears that a recession is around the corner.

Citi Trader's Error Wiped Out $315 Billion From Europe Stocks In Minutes

Citi Trader's Error Wiped Out $315 Billion From Europe Stocks In Minutes

Jenny Surane, Bloomberg | Tuesday May 03, 2022

Citigroup Inc. said its London trading desk was behind a flash crash in Europe, which had sent shares across the continent tumbling after a sudden 8% decline in Swedish stocks.

Who Is Still Buying Russian Crude Oil And Who Has Stopped?

Who Is Still Buying Russian Crude Oil And Who Has Stopped?

Monday May 02, 2022

Australia, Britain, Canada and the United States have imposed outright bans on Russian oil purchases but the 27 members of the European Union have not been able to agree on the embargo.

Dollar Holds Near 20-Year High Amid Federal Reserve's Rate Hike Outlook

Dollar Holds Near 20-Year High Amid Federal Reserve's Rate Hike Outlook

Reuters | Monday May 02, 2022, London

The dollar held near a 20year high on Monday as the euro struggled around the $1.05 mark, as investors prepared for a busy week of central bank meetings including a likely Federal

World Bank Ready To Provide Emergency Economic Aid To Sri Lanka: Report

World Bank Ready To Provide Emergency Economic Aid To Sri Lanka: Report

Press Trust of India | Wednesday April 20, 2022, Colombo/Washington

The World Bank is ready to provide emergency support to Sri Lanka and protect the vulnerable people amidst the unprecedented economic crisis in the country, a media report on Wednesday quoted a senior official of the global lender as saying.