FedEx reduces its projection & cautions of a worsening economy; shares fall 16%
A global demand slump began at the end of August and was expected to get worse in the November quarter, according to FedEx Corp., which revoked the financial projection it had released just three months earlier on Thursday.Shares of the international delivery company fell more than 16% after it revealed first-quarter sales and profit that […]
China bags energy windfall as Russian supplies fail to attract the West
This year, China has been purchasing fuel supplies from Russia at a steadily decreasing cost, benefiting from a decline in European demand at a time when Beijing most needs it as the Ukraine conflict forces Moscow to look for new markets.Both nations benefit from the expanding partnership, which will further develop when Russian President Vladimir […]
Canada battles with retirement haste, not the lack of employment
Canada is battling its own, older, greyer version of the Great Resignation, The Great Retirement, more than a year since it took root in the United States.The labour force in Canada increased in August but decreased in the two preceding months and is still lower than it was before the summer due to tens of […]
Biden to strike China with tougher regulations on U.S. tools & chip imports
The Biden administration intends to broaden curbs on American shipments of semiconductors used in chip manufacturing and artificial intelligence to China starting next month.Officials, who spoke on the condition of anonymity, revealed that the Commerce Department plans to publish proposed rules based on restrictions conveyed in letters to three American companies earlier this year: Lam […]
EU intends to cap Russian gas rates as Putin cautions a frost warning
President Vladimir Putin threatens to shut off all energy supplies if the European Union placed a price restriction on Russian gas on Wednesday, increasing the possibility of rationing this winter in some of the richest nations in the world.The increasing conflict might increase already exorbitant European gas prices, adding to the already staggering costs that […]
U.S. canned cocktails await Suntory as Japanese market withdraws
The Japanese beverage company Suntory Inc. introduced a powerful, lemony beverage in Australia last year, and it swiftly rose to the top of the country’s canned cocktail market. The company is currently working to repeat that performance in North America, which is essential to achieving its goal of dominating the fastest-growing market for alcoholic beverages […]
EU gas markets prepare for price hike after latest Russia gas curtailment
When the markets open on Monday, European gas consumers who are already suffering from record-high prices will suffer even more as Russia said that one of its main supply pipes to Europe would remain closed indefinitely, raising concerns about possible energy restrictions.Lower Russian gas exports before and during its invasion of Ukraine in February had […]
U.S. regulators will review the audits of Alibaba and other Chinese companies
Three sources familiar with the situation said that U.S. officials had chosen e-commerce behemoth Alibaba Group Holding Ltd (9988.HK) as well as other U.S.-listed Chinese corporations for audit inspections beginning next month.The action comes after Beijing and Washington struck a historic audit agreement on Friday that allows American regulators to review accounting firms in Hong […]
Attorneys caution that the U.S.-China audit agreement is not finalised yet
After Beijing and Washington reached a long-awaited audit agreement, investors in U.S.-surveyed Chinese companies experienced a great deal of comfort; however, legal experts and China watchers caution the two sides could still disagree over how the agreement is understood and put into practise.Since more than ten years ago, U.S. officials have wanted access to the […]
Global recession danger is increasing as consumer price inflation takes a toll
According to surveys released on Tuesday, the probability of a worldwide recession is rising as consumers cut down on purchases in response to inflation that is at a generational high and as central banks aggressively tighten monetary policy at a time when it is most needed. Additionally, Russia’s invasion of Ukraine plus China’s severe COVID-19 […]