Gross domestic product was expected to increase at a 3.1% annualized pace in the third quarter.
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U.S. economy grew at a 2.8% pace in the third quarter, less than expected
World
Citi UK CEO: ‘Phenomenal’ market resilience is keeping recession risk at bay — for now
Tiina Lee, the CEO of Citi U.K., expects global growth to remain resilient this year, telling CNBC that a “recessionary environment” is “not our base case.” Markets have continued to perform in an orderly way, despite the economic and geopolitical upheaval caused by the Iran conflict, which entered its 60th day on Tuesday, Lee said. […]
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World
‘Draconian development’ in Meta-Manus deal draws the line in China’s AI race with the U.S.
Manus was hailed by Chinese state media as the “next DeepSeek” soon after its launch in March 2025, months before the startup relocated to Singapore. Cheng Xin | Getty Images News | Getty Images BEIJING — China’s decision to block U.S. tech giant Meta‘s $2 billion acquisition of artificial intelligence startup Manus is being seen […]
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World
Novartis CEO warns reality of Trump’s drug pricing policy will set in over ‘the next 18 months’
Novartis‘ CEO warned Tuesday that the U.S. drug pricing policy under President Donald Trump poses a “very difficult situation” and the reality will soon catch up with both drugmakers and patients. “The longer-term implications are significant,” CEO Vas Narasimhan told CNBC’s Carolin Roth. Novartis is focused on getting European and Japanese governments to quickly change […]
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