World
Yellen says the administration is fighting inflation, admits she was wrong that it was ‘transitory’
Treasury Secretary Janet Yellen emphasized that the White House has several strategies ready to go that will reduce an inflation burden she conceded is too high on Americans. In an interview Tuesday with CNBC’s Becky Quick, Yellen listed efforts aimed at prescription drug costs, the budget deficit and oil production that could bring down prices […]
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Chinese automaker Nio reports May EV sales constrained by Covid as rivals XPeng and Li Auto gain ground
Nio began deliveries of its new ET7, an upscale electric sedan, on Monday, March 28, 2022. Nio Chinese electric vehicle maker Nio delivered more than 7,000 vehicles in May, up 4.7% from a year ago but well below its current production capacity, as Covid-related disruptions continued to limit the company’s manufacturing and its ability to […]
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European VCs urge tech start-ups to slash costs and extend the runway
skaman306 | Moment | Getty Images European venture capitalists are advising start-ups in their portfolios to cut costs and freeze hiring as economists warn that another recession is inevitable. Their counterparts in Silicon Valley are doing the same. Following a bumper 2021 that was full of IPOs and mega funding rounds, some of the most […]
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India is better positioned to weather food inflation, says official
India is relatively better positioned to weather the global rise in food prices, the country’s chief economic advisor V. Anantha Nageswaran told CNBC’S “Street Signs Asia” on Wednesday. “It is a tricky situation … for many countries, but India is relatively better placed because of the fact that there is ample availability of food grain, […]
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Zelenskyy says Russian bombing of chemical plant ‘insanity’; U.S. to provide Ukraine with longer-range rocket systems
Wheat can’t be ‘weapon of war’, Pope says in urging lifting of Ukraine block Pope Francis leads his weekly general audience in St. Peter’s Square at the Vatican on June 1, 2022. Filippo Monteforte | Afp | Getty Images Pope Francis on Wednesday appealed to authorities to lift the block on wheat exports from Ukraine, […]
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Stock futures jump ahead of first day of June
Stock futures were higher early Wednesday morning as Wall Street turned the page to another month. Futures tied to the Dow Jones Industrial Average added 165 points, or 0.5%. Those for the S&P 500 ticked up 0.1%. Nasdaq 100 futures, on the other hand, rose 0.13%. The move in futures came after a down day […]
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Australia in talks with U.S. to supply infant formula
Cans of infant formula sit on a scale in Sydney, Australia, on Tuesday, April 2, 2019. Lisa Maree Williams | Bloomberg | Getty Images Australia is in talks with the United States to supply baby food, an Australian government spokesperson said on Wednesday, after the apex U.S. health regulator relaxed its import policy to address […]
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Deutsche Bank’s DWS CEO steps down in wake of greenwashing claims
The logo of Deutsche Bank’s DWS Asset Management. Ralph Orlowski | Reuters The embattled chief executive of Deutsche Bank’s asset manager DWS said on Wednesday he would step down next week, as the company faced allegations of misleading investors about “green” investments. The move marks a key moment in an ongoing saga that has dogged […]
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Wall Street veterans offer 3 trading strategies for investors worried about a recession
Countries like the U.S. and U.K. are grappling with inflation that has risen to multi-year highs as the Ukraine war has caused energy prices to spike and food prices to rise. Angela Weiss | AFP | Getty Images Talk of a recession is heating up, with Wall Street veterans flagging the rising risks of a […]
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Australia’s economy held up well in Q1, more growth ahead
Residents shop at a supermarket in Canberra on August 12, 2021. Australia’s economy held up better than expected in the first quarter as strong domestic demand offset the drag from dismal weather and a flood of imports, setting the scene for more inflation-fighting hikes in interest rates. Rohan Thomson | Afp | Getty Images Australia’s […]
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