World economy
Most factories in Shanghai resume work as Covid controls ease, ministry says
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according […]
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‘Frozen conflict’: Ukraine war could last 10 years or more if Russian forces aren’t pushed back
Ukrainian troop members repair an army’s Main Battle Tank (MBT) in the eastern Ukrainian region of Donbas on June 7, 2022. Aris Messinis | AFP | Getty Images As Russia gradually seizes more territory in Ukraine and continues to pound various targets in the Donbas, analysts fear that Ukrainian fighters are losing the upper hand, […]
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European stocks head for mixed open as global markets are rattled by central banks
LONDON — European stocks are expected to open in mixed territory on Tuesday after sharp declines in global markets on Monday amid fears that central banks will be forced into aggressive monetary policy tightening with inflation remaining high. The U.K.’s FTSE index is seen opening 23 points higher at 7,226, Germany’s DAX 44 points higher […]
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European stocks slide 2%, bond yields spike as traders fret over a possible recession
LONDON— European stocks tumbled on Monday as investor sentiment was dominated by the prospect of forthcoming interest rate hikes. The pan-European Stoxx 600 fell 2.2% by late morning, with tech stocks and autos shedding 3.8% to lead losses as all sectors and major bourses slid into negative territory. The slump in sentiment in Europe on […]
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Global markets are tanking ahead of a huge week for central banks
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, June 1, 2022. Brendan McDermid | Reuters LONDON — Global stock markets are falling sharply after May’s U.S. inflation print reignited fears that central banks will be forced into aggressive monetary policy tightening. Friday’s highly-anticipated consumer price index […]
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Chinese automakers want to bring assisted driving to the masses
Jidu, Baidu’s electric car venture alongside Geely, revealed its first concept car on June 8, 2022. Baidu BEIJING — As Chinese companies race for a slice of the world’s largest car market, they’re betting heavily on assisted driving technology. China sold nearly 21.5 million passenger cars last year. That’s roughly the equivalent of sales in […]
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The world will face ‘a severe food crisis and famine,’ Zelenskyy says
Ukraine’s President Volodymyr Zelenskyy addresses participants at Singapore’s Shangri-La Dialogue summit virtually via a video link on June 11, 2022. Roslan Rahman | Afp | Getty Images SINGAPORE — Ukraine President Volodymyr Zelenskyy warned that the world will face a “severe food crisis,” with Russia’s war on his country dragging on, as he virtually addressed the […]
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European markets close lower after ECB meeting, U.S. inflation shock; Stoxx 600 down 2.7%
LONDON — European stocks closed lower on Friday as investors reacted to the European Central Bank’s latest policy decisions and a hotter-than-expected U.S. inflation print. The pan-European Stoxx 600 ended the day down 2.7%, with banks shedding 4.9% to lead losses as all sectors and major bourses closed in negative territory. The ECB on Thursday […]
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At Asia security summit, Japan vows to boost regional security role
Japanese Prime Minister, Fumio Kishida, speaks during a press conference on March 16, 2022 in Tokyo, Japan. Stansislav Kogiku | Getty Images Japan’s Prime Minister Fumio Kishida pledged on Friday to boost its regional security presence to counter multiple threats, from China’s expansion in the South China Sea to North Korea’s nuclear missile program. Earlier, […]
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Russia cuts key interest rate back to prewar level
National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. Maxim Shemetov | Reuters The Central Bank of Russia on Friday cut its key interest rate by 150 basis points to 9.5% — the level it was at when Russia’s invasion of Ukraine began. Although acknowledging that the external environment […]
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