World economy
U.S. Navy is seeing more ‘unsafe’ aerial intercepts by China, says Seventh Fleet commander
U.S. Navy P-8 Poseidon aircraft. Nurphoto | Nurphoto | Getty Images SINGAPORE — The commander of the U.S. Seventh Fleet said on Tuesday that he’s seen an increase in “unsafe” aerial intercepts by the Chinese military in the South China Sea region. As recently as May, a Chinese fighter aircraft allegedly intercepted a Royal Australian […]
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Fed expected to stick with hawkish rate hikes until data show further slowing in inflation
The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the U.S. could be easing, according to market strategists. On Thursday, the producer price index surprisingly fell 0.5% in July from the prior month, compared with an estimate of a 0.2% gain, according to […]
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Do you know what your credit score is? Here’s everything you need to know
It shouldn’t be a surprise that you need to have a good credit score for your overall financial health. But do you actually know what your credit score is, how to figure it out and why it matters? Watch this video, as CNBC’s Emily Lorsch breaks it all down. Source
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‘Echoes of the Cold War’ as Blinken heads to Africa, vying with Russia for influence
PRETORIA, South Africa, August 8, 2022: South Africa’s Foreign Minister Naledi Pandor (R) and Secretary of State Antony Blinken (L) attend a strategic dialogue opening session meeting at the South African Department of International Relations and Cooperation. ANDREW HARNIK/POOL/AFP via Getty Images U.S. Secretary of State Antony Blinken arrived in South Africa on Monday to […]
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Labor supply in hospitality sector is “very tight” given wage inflation: HSH CEO
The Hongkong and Shanghai Hotels’ CEO Clement Kwok says the luxury hotel group remains cautious on the business outlook despite the momentum in “revenge-spending”. Source
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Video game giants had a miserable second quarter as the pandemic gaming boom hits a wall
A gamer plays on Sony’s Playstation 5 console at his home in Seoul. Yelim Lee | AFP via Getty Images The giants of the video game world saw their sales slide in the second quarter, as initial tailwinds from the Covid pandemic faded. In the three months ended June, Microsoft, Sony and Nintendo each posted […]
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Taiwan’s trade with China is far bigger than its trade with the U.S.
Container trucks line up to enter the Port of Keelung in Keelung, Taiwan. Data show that Taiwan depends more on China for trade than it does on the U.S. Billy H.C. Kwok | Bloomberg | Getty Images BEIJING — Data show that Taiwan depends more on China for trade than it does on the U.S., […]
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Bank of England’s Bailey warns UK faces ‘very big’ inflation shock, defends historic rate hike
LONDON — The Bank of England on Thursday defended its decision to hike interest rates at the fastest clip in 27 years, saying the U.K. faces a “very big” shock to inflation. BOE Governor Andrew Bailey said that the risks of high inflation becoming persistent had risen since the Bank’s previous meeting in June, prompting […]
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Amazon, Apple, Google and Tesla have all done it. Here’s why companies split their stock
Google is just one of dozens of companies recently making its stock more affordable. The tech giant’s parent company, Alphabet (GOOGL), split its two classes of shares (GOOG) by a 20-to1 ratio in July. Amazon (AMZN) made the same 20-for-1 move in June while Tesla (TSLA) announced around the same time that it’s going with […]
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IMF slashes global GDP forecast as economic outlook grows ‘gloomy and more uncertain’
The International Monetary Fund on Tuesday cut its global growth projections for 2022 and 2023, dubbing the world’s economic outlook “gloomy and more uncertain.” The IMF now expects the world economy to grow 3.2% this year, before slowing further to a 2.9% GDP rate in 2023. The revisions mark a downgrade of 0.4 and 0.7 […]
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