World economy
Any potential recession will be ‘light,’ Qatar Investment Authority CEO says
The CEO of Qatar’s sovereign wealth fund believes that if the world sees a recession, it will be “light.” Rising fears of a looming recession pushed U.S. stocks briefly into a bear market on Friday, as Covid-19 related shutdowns in China, rising interest rates and a cost of living crisis impact investor sentiment. “The sell-off […]
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Vaccinated and tested, the rich and powerful descend on the snowless hills of Davos
The World Economic Forum is returning to Davos in May after cancelling previous meetings because of the coronavirus pandemic. Fabrice Coffrini | Afp | Getty Images The rich, famous and most powerful are once again returning to the Alpine retreat of Davos, Switzerland, next week following a two year coronavirus-induced hiatus that had forced the […]
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EV maker Lucid to accelerate plans with its Saudi Arabia factory, its first outside the U.S.
U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company announced. Javier Blas | Bloomberg | Getty Images U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced. The manufacturing facility will be able to produce 155,000 […]
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European stocks close lower as UK inflation hits 40-year high; Stoxx 600 down 1.1%
LONDON — European stocks closed lower on Wednesday as fears over inflation rattled markets on either side of the Atlantic. Stock picks and investing trends from CNBC Pro: Global markets have remained bogged down by fears of aggressive monetary policy tightening and slowing economic growth. Earnings before the bell came from ABN AMRO, Burberry, British […]
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India isn’t the only one banning food exports. These countries are doing the same
India has banned wheat exports as the price of grain surged this year due in part to the Russia-Ukraine war. T. Narayan | Bloomberg | Getty Images India has banned wheat exports, becoming the latest country to do so as the price of grain surged this year due in part to the Russia-Ukraine war. The […]
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‘The whole world is against us’: Russian military analyst gives damning assessment of Ukraine war on state TV
Destroyed military equipment of the Russian army in the city of Bucha. Sopa Images | Lightrocket | Getty Images In a country where independent media and commentary has all but disappeared from public view, it’s rare to hear dissenting voices on the many state-controlled TV networks in Russia — particularly now with the country at […]
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Goldman Sachs cuts its China GDP forecast to 4% on Covid controls
Since March, mainland China has struggled to contain its worst Covid outbreak in two years. Notably, the metropolis of Shanghai, pictured here on May 18, only started this week to begin discussing resumption of normal activity — with a goal of mid-June. Hector Retamal | Afp | Getty Images BEIJING — Goldman Sachs analysts on […]
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Skipping meals and shrinking portions. Brits are being warned of ‘apocalyptic’ food price rises
More than four in five people in the U.K. are worried about rising living costs and their ability to afford basics necessities like food and energy over the coming months, according to a new survey. Tolga Akmen | Afp | Getty Images LONDON — A quarter of Britons have resorted to skipping meals as inflationary […]
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Some factories might leave China, but in the grand scheme of things it doesn’t matter much
China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term. An employee works on the production line of the screens for 5G smartphones at a factory on May 13, 2022 in Ganzhou, Jiangxi Province of China. Zhu Haipeng | Visual China Group | Getty Images […]
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JPMorgan picks China stocks to play Beijing’s infrastructure boost
China has announced big plans to build up more cities, and JPMorgan analysts say it’s time to buy some infrastructure stocks. That’s based on news earlier this month that China’s top executive body, the State Council, has loosened residency rules to allow migrant workers from rural areas to settle in smaller towns. By the numbers, […]
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