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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Estimating environmental damage from key resources required for EU low-carbon transition

This study assessed the environmental costs associated with meeting demand for key resources in the EU by 2050. The researchers estimate the total annual cost at € 38.9 billion, with 48.5% arising from materials used for electric-vehicle batteries, including nickel, accounting for 24.9 % of total cost. The transition to a low-carbon economy set out …

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What a Strong US Dollar Means for You | Personal Finance

If you’re relatively well informed, you’ve heard the term “strong dollar” throughout your life, especially over the last several years since the value of the dollar has been steadily climbing over the last 15 years or so. But if somebody asked you to define a strong dollar, could you? Here’s what you need to know …

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Mortgage mayhem sparks fears of a housing market crash in Britain

UK mortgage rates have skyrocketed since Finance Minister Kwasi Kwarteng’s mini-budget on Sept. 23, prompting banks to pull mortgage products threatening a deepen an expected housing market downturn. Dan Kitwood | Getty Images LONDON – There are growing fears of a housing market crash in the UK, after a swathe of tax cuts announced by …

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It’s Yom Kippur – so here are my sincere promises to Her Upstairs

Y ou’ve probably noticed quite a lot’s been going on since my last column (it was roughly a hundred years ago, back in early September): Liz Truss became PM and the Queen died, there have been natural disasters and ongoing wars and it seems like our economy’s dissolving like an overdunked biscuit. Frankly, it’s all …

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UK scraps tax cut for wealthy that sparked market turmoil

BIRMINGHAM, England (AP) – The British government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows. In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans to scrap the …

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