WASHINGTON: Trade disputes and tighter financial conditions are among the top threats to a slowing world economy, global finance officials said on Saturday, urging countries to take steps to shore up growth. The global expansion, now seen at its most sluggish pace in three years, is likely to firm up
LONDON: Britons have carried on spending despite their “Brexit fatigue,” Tesco said yesterday, as a forecast-beating rise in profits confirmed a turnaround at Britain’s biggest retailer. Celebrating its 100th year, Tesco is deep into a recovery plan under Chief Executive Dave Lewis after a 2014 accounting scandal capped a dramatic
SHANGHAI: Shipments of mobile phones to China fell 6 percent in March compared with the same year-earlier month, official figures showed yesterday, as slowing economic growth took a toll on the sector. The shipments dropped to 28.4 million units in March from 30.2 million units in March 2018, the China
TOKYO: Japan’s machinery orders posted their first monthly increase in four months in February due to improved demand from the energy and telecommunications sectors but weakening global conditions remain major challenges for the world’s third-largest economy. The 1.8 percent increase month-on-month in core machinery orders, an often volatile leading indicator
SAN FRANCISCO: Qualcomm Inc on Tuesday unveiled a new chip for speeding up artificial intelligence work, aiming to diversify beyond its stronghold in mobile phone chips and into a fast-growing market now dominated by Nvidia Corp and Intel Corp. At an event in San Francisco, Qualcomm said it plans to
ISTANBUL: Turkey said yesterday it will boost capital and relieve some bad debt at banks affected by last year’s currency crisis, as it moved to revive an economy plagued by inflation and recession. Relief for banks was the first step of the government’s long-awaited reform package, which also included promises
SHANGHAI/HONG KONG: China’s state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. China is the world’s largest market for computer hardware designed to mine
LONDON: Debenhams’ lenders took control of the ailing retailer yesterday after it went into administration, wiping out shareholders including billionaire Mike Ashley in the latest corporate failure on Britain’s high street. Once the biggest department store chain in the country, Debenhams had been hit by a sharp slowdown in sales,
TOKYO: Japanese investors look set to switch some money from European bonds to US debt, hoping for capital gains after the US bond yield curve recently flashed signs of recession down the road. While the jury is still out on whether the United States will have a recession, such fears
LONDON: Jaguar Land Rover (JLR) shuts its UK plants on Monday for five days over Brexit, adding to other shutdowns to leave at least half the country’s car production off-line in what could be a pivotal week for Britain’s divorce from the EU. The move by Britain’s biggest carmaker, to
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