Business and Economy

Vietnam eyes China’s tech crown as firms tire of ‘zero COVID’ | Business and Economy

Ho Chi Minh City, Vietnam – In industrial parks set among the rolling hills and tea fields of northern Vietnam, legions of factory workers are busy making products for leading tech giants such as Apple, Samsung, LG Electronics and Microsoft. Already hundreds of thousands strong, their ranks are swelling fast. Frustrated with China’s “zero-COVID” lockdowns …

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Why Credit Suisse is battling rumors of a Lehman-style crash | Business and Economy

Credit Suisse is at the center of market turmoil amid rumors the bank could be on the brink of collapse. Investors have rushed to sell the Zurich-based bank’s shares amid concerns about its financial health as it prepares to unveil a costly restructuring plan due later this month. Speculation that the bank could fail has …

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Patagonia’s philanthropy won’t fix – and might hurt – the planet | Business and Economy

In September, Patagonia’s billionaire founder Yvon Chouinard grabbed headlines after announcing that he was giving away his company to a trust that will use its profits to combat climate change. Chouinard joins the growing ranks of the megarich “giving back” to causes they care about. Warren Buffet has pledged to give 99 percent of his …

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US bear market deepens: What that means for you | Financial Markets News

United States stocks slumped further this week as investors navigated a barrage of bad news. Central banks around the world have been scrambling to fight soaring high inflation by increasing the cost of borrowing without hurting long-term growth prospects. Adding to the uncertainty and fear are rising tensions between the West and Russia following Moscow’s …

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US bear market deepens: What that means for you | Financial Markets News

United States stocks slumped further this week as investors navigated a barrage of bad news. Central banks around the world have been scrambling to fight soaring high inflation by increasing the cost of borrowing without hurting long-term growth prospects. Adding to the uncertainty and fear are rising tensions between the West and Russia following Moscow’s …

US bear market deepens: What that means for you | Financial Markets News Read More »

Is a global recession coming? More experts are raising the alarm | Business and Economy

Kuala Lumpur, Malaysia – After beginning as a murmur early in the year, warnings of an incoming global recession are growing louder by the day. During the past week, high-profile figures from the head of the World Trade Organization (WTO) to American Nobel Prize-winning economist Paul Krugman have sounded the alarm about the likelihood of …

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Musk accuses SEC of unlawfully muzzling him | Business and Economy News

Musk needs to get prior approval before tweeting about Tesla, a requirement he called ‘government-imposed muzzle’. US securities regulators are unlawfully muzzling Tesla CEO Elon Musk, violating his free speech rights by continually trying to enforce a 2018 securities fraud settlement, Musk’s lawyer is contending in a court brief. The document, filed late Tuesday with …

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Amid Western sanctions, China’s yuan has its moment in Russia | Russia-Ukraine war News

The Chinese yuan is rapidly gaining popularity in Russia amid Western sanctions over the war in Ukraine. Trading on the Moscow Exchange, the currency has risen more than 50 fold this year, jumping from 0.5 percent of the total transactions in January to 26 percent in August. It is increasingly used in Russia’s international trade …

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China’s imports of Russian coal hit 5-year high as ties deepen | Business and Economy

Russian coal imports reach 8.54 million tonnes in August amid soaring energy demand in the world’s second-largest economy. China’s imports of Russian coal hit a five-year high in August, the latest sign of Chinese trade providing Moscow with an economic lifeline as it faces international isolation over its war in Ukraine. Shipments of Russian coal …

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