The U.S. and Filipino navies kicked off a three-week war game exercise that included drills in the South China Sea as tensions with Beijing increased and just after the U.S. House of Representatives passed a $95 billion war-funding bill with $8 billion earmarked for Taiwan.
LUXURY FIRM LVMH POSTS DISAPPOINTING QUARTERLY RESULTS
LVMH, the luxury house that owns Louis Vuitton fashion, Moët & Chandon champagne, and other high-ticket brands, posted first-quarter revenue of $21.97 billion, 2 percent below the same period in 2023.
MIDEAST WAR CREATING LONG-TERM REGIONAL ECONOMIC INSTABILITY, IMF SAYS
Israel’s war on terror group Hamas, and the overhanging threat of a larger conflict, has created instability in the Middle East that will result in a long-term negative impact on the region’s economy, the International Monetary Fund (IMF) said in its new World Economic Outlook report.
IMF: U.S. BUDGET DEFICITS POSE “SIGNIFICANT RISKS” TO WORLD ECONOMY
The U.S. government’s growing annual budgets are fueling inflation and create “significant risks” for the global economy, the International Monetary Fund (IMF) wrote in its new World Economic Outlook report.
SPOTLIGHT: BIGS GETTING BIGGER
Schneider Electric, a French software and automation company, is in discussions to buy Bentley Systems, a U.S. firm that designs software and provides services in design, construction, and operation of infrastructure.
SPOTLIGHT: CHINA’S ECONOMIC STRUGGLE
China’s economy grew by 5.3 percent, year on year, according to the National Bureau of Statistics (NBS).
TOP TREND 2023: EV GO FU
In 2023, 41 percent of Americans told a Gallup poll they would not buy an electric vehicle (EV).
WORLD ECONOMIC GROWTH WILL SLOW IN COMING YEARS, IMF FORECASTS
The global economy will expand by 3.2 percent this year, due largely to the U.S. economy’s resilience, the International Monetary Fund (IMF) said in its new World Economic Outlook report.