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Breaking News: Economy

IMF raises global growth forecast despite China’s recovery ‘losing steam’

by Walter Watson
IMF raises global growth forecast despite China’s recovery ‘losing steam’

The International Monetary Fund on Tuesday raised its growth forecast for the global economy, turning slightly more positive despite slowing momentum from China. In the latest update to its World …

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What new norm of slower Chinese growth could mean for the global economy

by Horatio Thompson
What new norm of slower Chinese growth could mean for the global economy

A view of high-rise buildings is seen along the Suzhou Creek in Shanghai, China on July 5, 2023. Ying Tang | NurPhoto | Getty Images The Chinese economy could be …

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A ‘momentous week’ ahead as the Fed, ECB and Bank of Japan near pivot point

by Walter Watson
A ‘momentous week’ ahead as the Fed, ECB and Bank of Japan near pivot point

With the Bank of Japan maintaining its ultra dovish stance of negative interest rates, the rate differentials between the U.S. and Japan’s central bank will persist, said Goldman Sachs economists. …

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10 years of rally in U.S. house prices could end, says Robert Shiller

by Walter Watson
10 years of rally in U.S. house prices could end, says Robert Shiller

“The fear of interest rate increases has influenced people’s thinking — it’s not just the homeowners, it’s new buyers who wanted to get in before the interest rates went up …

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China’s cautious consumer confidence is dampening recovery, says ADB

by Walter Watson
China’s cautious consumer confidence is dampening recovery, says ADB

Fears are growing that China’s economy is tethering on the verge of deflation after yet another slate of underwhelming economic data July 17 provided more evidence that the stall in …

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Ukraine seeks to lure global firms from Moscow as Danone and Carlsberg assets seized

by Vera Ward
Ukraine seeks to lure global firms from Moscow as Danone and Carlsberg assets seized

A bartender holds a glass of Carlsberg beer in a bar in St. Petersburg, Russia. Alexander Demianchuk | Russia Ukraine is urging global companies to divest from Russia and relocate …

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UK inflation rate slides to 7.9% in June, below expectations

by Walter Watson
UK inflation rate slides to 7.9% in June, below expectations

Skyline view of the City of London financial district. Mike Kemp | In Pictures | Getty Images LONDON — U.K. inflation cooled significantly in June, coming in below consensus expectations …

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Singapore’s June non-oil exports fall 15.5%, lower than forecast

by Ron Morgan
Singapore’s June non-oil exports fall 15.5%, lower than forecast

Residents gathering near a Singapore national flag outside City Hall in Singapore. Nicky Loh | Bloomberg | Getty Images Singapore’s non-oil domestic exports fell 15.5% in June from a year …

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Africa’s gaming market is expected to top $1 billion in 2024: Data

by Walter Watson
Africa’s gaming market is expected to top  billion in 2024: Data

Africa’s video game market has been doing well. In 2022, games sold in the region generated $862.8 million in revenue, up 8.7% year over year, according to Newzoo’s data. Rodger …

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New York City taxis fight for survival against Uber and Lyft

by Horatio Thompson
New York City taxis fight for survival against Uber and Lyft

New York City’s yellow taxis have been a symbol of the metropolis for decades. But taxi drivers only make up about 10% of the total driver landscape in the city …

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