The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels. The IMF said in its latest World Economic Outlook report that banking system contagion risks were contained by strong […]
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An Analysis of Bitcoin’s Resilience and its Future Outlook Bitcoin, the world’s first decentralized digital currency, has been on a rollercoaster ride since its inception. Its price has seen massive fluctuations, from a few cents to its all-time high of almost $65,000. While its volatility is well-known, Bitcoin’s resilience in the face of market crashes […]
The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla Inc’s dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Tesla announced the factory in a tweet on Sunday, and Chinese state media said it would initially […]
Apple Inc on Wednesday revealed the look of its first retail store in India, as several people tried to catch a glimpse outside the store’s black and yellow artwork patterned after Mumbai’s iconic taxis. The store is still in barricades and is likely to open this month, a person familiar with the matter told Reuters. […]
The record number of developing nations at risk of a debt crisis will be high on the agenda next week when central bankers, finance ministers and political leaders convene for the World Bank Group and International Monetary Fund (IMF) spring meetings. Ballooning inflation, escalating borrowing costs and a strong dollar have made repaying loans and […]
Australia banned TikTok on Tuesday from all federal government-owned devices over security concerns, becoming the latest U.S.-allied country to take action against the Chinese-owned video app. The ban underscores growing worries that China could use the Beijing-based company, owned by ByteDance Ltd, to harvest users’ data to advance its political agenda, undermining Western security interests. […]
The U.S. National Institute on Aging (NIA) is funding a 6-year, up to $300 million project to build a massive Alzheimer’s research database that can track the health of Americans for decades and enable researchers to gain new insights on the brain-wasting disease. The NIA, part of the government’s National Institutes of Health (NIH), aims […]
U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged, and analysts said activity could decline further due to tighter credit conditions. The Institute for Supply Management (ISM) survey on Monday showed all subcomponents of its manufacturing PMI below the 50 threshold for the first time since […]
Tesla Inc on Sunday posted record quarterly vehicle deliveries, but quarter-on-quarter sales growth was modest despite price cuts as rising competition and a bleak economic outlook weighed. Tesla delivered 422,875 vehicles for the first three months of this year, up 4% from the previous quarter. This was 36% higher than a year ago. In January, […]
The Fintech reckoning was bound to happen. The industry has been growing steadily since the 2008 financial crisis, but the COVID-19 pandemic was the leading enabler of forced integration into a fragile economic situation. The quicker they climb, the harder they fall. Financial technology (Fintech) has been a growing industry since the late 1960s, even […]