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.”Story Published at: July 26, 2022 at 02:01PM
IMF slashes global GDP forecast as economic outlook grows ‘gloomy and more uncertain’
Alibaba CEO calls last year’s external environment the ‘most severe in decades’
Alibaba posted its slowest revenue growth on record in its last financial year and its share price collapsed more than 50% amid a regulatory crackdown in China.Story Published at: July 26, 2022 at 12:51PM
Sam Bankman-Fried’s FTX is in talks to buy crypto exchange Bithumb, continuing its acquisition spree
Talks of another acquisition are part of FTX and its founder Sam Bankman-Fried’s aggressive acquisition approach amid a major downturn in the crypto market.Story Published at: July 26, 2022 at 11:07AM
Two European satellite companies are combining in a $3.4 billion deal to rival Elon Musk’s SpaceX
U.K. satellite firm OneWeb has agreed to be taken over by European rival Eutelsat in a $3.4 billion merger deal.Story Published at: July 26, 2022 at 10:31AM
Intel plans to make chips for Taiwan’s MediaTek to keep up with Asian manufacturing rivals
Intel CEO Pat Gelsinger has made revitalizing the foundry business a key priority to catch up with and break the dominance of Asian rivals TSMC and Samsung.Story Published at: July 26, 2022 at 08:52AM
Ukraine wants big banks to be prosecuted for ‘war crimes,’ Zelenskyy’s top economic aide says
Oleg Ustenko, economic advisor to Zelenskyy, said the Ukrainian government believes banks, such as JPMorgan, HSBC and Citi, are aiding the Kremlin’s war efforts in Ukraine. Story Published at: July 26, 2022 at 08:41AM
UBS misses expectations; CEO cites one of the ‘most challenging’ quarters for investors in a decade
Story Published at: July 26, 2022 at 06:02AM
Alibaba pops 6% after announcing plans for a dual primary listing in Hong Kong
The Chinese tech giant’s shares are already traded on both U.S. and Hong Kong exchanges, but the listing in Hong Kong is a secondary one.Story Published at: July 26, 2022 at 05:55AM
India’s 5G auction kicks off today. These are the companies in the race
India’s 5G auction kicks off Tuesday and four local companies will be in the race to bid for the country’s first 5G spectrum ahead of a planned rollout in 2023.Story Published at: July 26, 2022 at 03:29AM
Countries are not doing enough to contain monkeypox outbreak, epidemiologist says
Over the weekend, the World Health Organization activated its highest alert level for the virus, labeling monkeypox a public health emergency of international concern.Story Published at: July 26, 2022 at 02:15AM