Business News

China Life Insurance Ex-Chairman Wang Bin Gets Death Sentence as Beijing Tightens War on Corruption

Wang has been handed a death sentence with a two-year deferral. Following this initial period, the sentence will be commuted to life imprisonment with no possibility of parole.

Sep 13, 2023

By Anshul Panda

ECB Estimates Eurozone Inflation to be Above 3% next Year; Another Rate Hike on the Cards

The updated 2024 projection is well above the central bank's 2% target and will be higher than the 3% forecast in June.

Sep 13, 2023

By Reuters

Starting Successful Businesses With Alphonso Horton

Scale With Funding possesses a database of all the 0% credit products in the country giving their clients a chance of getting hire funding

Sep 13, 2023

By IBT Desk

Economists Cut Ailing Chinese Economy's Growth Rate This year to 5% From 5.5%

With 70% of household wealth tied up in the ailing property market, coupled with rising youth unemployment, weak consumption demand and the reluctance by depressed private firms to invest, policymakers have been fighting an uphill job in reviving growth.

Sep 12, 2023

By Reuters

European Stocks Edge Lower as Oil Climbs to 10-Month Highs on Russia, Saudi Output Cut Extension

The British Chambers of Commerce (BCC) said on Tuesday the economy will record a 0.4 percent growth in 2023.

Sep 6, 2023

By Jacob J

UBS to Cut 3,000 Jobs in Switzerland as it Aims to Save $10 Billion After Credit Suisse Takeover

UBS said it will go ahead with the full integration of the Credit Suisse banking operations in Switzerland.

Aug 31, 2023

By Jacob J

Pakistan Economic Crisis: 35-Yr-Old Dies by Suicide Over Exorbitant Power Bill, Second Such Death in a Week Amid Protests

The tragic incidents come as the caretaker government has failed to come up with any relief measures for the agitating citizens.

Aug 30, 2023

By IANS

US economy expands 1.4% in fourth quarter; corporate profits fall

Revised GDP Data Shows US Economy Remains Resilient, Powered by Consumers

Economists conclude that the latest figures show the economy's resilience, given the backdrop of a more than 500 basis point increase in interest rates since March 2022.

Aug 30, 2023

By Jacob J

Adani Group's Q1 Performance: A Triumph Amidst Market Challenges

Adani Group's strategy is to accumulate enough cash, both from reserves and the cash generated from regular operations in the infrastructure business, so that it can cover any debts that are due in the future.

Aug 28, 2023

By IBT Desk

China's Evergrande Shares Plunge 87% as Trading Resumes in Hong Kong After 18 Months

Evergrande had applied to resume trading in Hong Kong as it would have faced delisting when the suspension breaches 18 months.

Aug 28, 2023

By Jacob J

Analysis: US Growth, a Puzzle to Policymakers, Could Pose Global Risks

Fed policymakers will deliver a crucial update to their economic outlook at a Sept. 19-20 meeting, when they are expected to leave their policy rate unchanged at 5.25% to 5.5%.

Aug 27, 2023

By Reuters

Federal Reserve Chair Says More Interest Rate Hikes Needed to Cool Inflation

The Fed has raised rates by 5.25 percentage points since March 2022, and inflation by the Fed's preferred gauge has moved down to 3.3% from its peak of 7% last summer.

Aug 26, 2023

By Reuters

UK Retailers to Trim Jobs and Costs as Consumer Spending Slumps Amid Tight Rates

Retail activity in the country has dropped for a fourth straight month in August and the sentiment is at its lowest level since March 2021.

Aug 25, 2023

By Jacob J

S&P Downgrades Multiple US Banks Citing Tough Liquidity Scenario Amid Tight Rates

S&P said the factors like the possibility of the Fed maintaining high interest rates for an extended period and the potential decline in deposits of FDIC-insured banks influenced the ratings downgrade.

Aug 22, 2023

By Jacob J

China Trims Rates to Revive Growth; Markets Sink on Lower-Than-Expected Cut

The Chinese central bank lowered its prime lending rate to 3.45 percent from 3.55 percent on Monday.

Aug 21, 2023

By Jacob J

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