The domestic sector of China’s economy slowed in April, with several missing economists’ expected levels.
Tag: Global Economy
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INVESTORS DUMP BONDS AS OIL PRICES CLIMB
Investors around the world are fleeing bonds, fearing that central banks will be forced to raise their interest rates to tamp down rising inflation that soaring oil prices have already set in motion, Bloomberg reported.
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SPECIAL REPORT: IRAN WAR DISRUPTS WORLD’S OIL SUPPLY
As we have detailed since the Iran War was illegally launched by the United States and Israel on 28 February, the war has inflicted severe socioeconomic and geopolitical damage across the globe.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
Hiring is slowing, wage growth is losing ground to inflation, and layoffs are quietly expanding across more industries.
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WHEN THE ECONOMY FALLS, JOBS GO WITH IT
As AI continues to take over human jobs, Open AI CEO Sam Altman, said that although AI isn’t the cause of all layoffs, it has been responsible for displacing human workers, according to CNBC-TV18.
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SPOTLIGHT: BIGS GETTING BIGGER
Finland-based Kone Oyj, a global leader in the elevator business, is buying Germany’s TK Elevator for €29.4 billion (about $34.4 billion).
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SPOTLIGHT: THE ACCELERATING SHIFT TO CLEAN ENERGY
At the first international conference on transitioning from fossil fuels, more than 50 countries agreed to work together on trade agreements that will reduce reliance on coal, natural gas, and oil.
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OPEC+ RAISES OIL OUTPUT A THIRD TIME SINCE HORMUZ CLOSURE
The Organization of Oil Exporting Countries and its allied nations agreed on 3 May to raise the group’s permitted output by a modest 188,000 barrels a day.
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UAE QUITS OPEC, WEAKENING OIL CARTEL’S GRIP ON PRICES
The United Arab Emirates (UAE), OPEC’s third largest oil producer, has quit the 65-year-old oil cartel due to long-standing tensions with Saudi Arabia, OPEC’s dominant member, and frustrations with the group’s policy of dictating each members’ limits on oil production.
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BANKS STRUGGLE TO OFFLOAD RISK OF MASSIVE AI LOANS
JPMorgan Chase, Morgan Stanley, SMBC, and other major banks that have made gigantic loans to cloud service providers such as CoreWeave and Oracle are trying to entice other lenders to share the risk but are having trouble persuading them, people familiar told the Financial Times.