
Debdutta Ghosh
Economics
Russian Economy Contracted By 4% In The Second Quarter As A Result Of Sanctions
Russia’s GDP declined 4.0% year on year in the second quarter of 2022, the first full quarter of what Russia calls a “special military operation” in Ukraine, according to preliminary
Published on August 13, 2022
By Debdutta Ghosh
Business & Finance
Honda Increases Its Yearly Profit Prediction After Exceeding Its Quarterly Target
Honda Motor Co upped its full-year operating profit forecast on Wednesday due to a cheaper yen, but warned against over-optimism, citing a continued chip shortage and concerns about an economic
Published on August 11, 2022
By Debdutta Ghosh
Economics
Despite Declining Inflation, US Fed Officials Agree More Rate Hikes Are Needed
Slowing inflation in the United States may have allowed the Federal Reserve to slow the pace of future interest rate hikes, but policymakers have made it clear that they will
Published on August 11, 2022
By Debdutta Ghosh
Economics
After 12 Years, Greece Will Leave The EU’s ‘Enhanced Surveillance’ Framework
Greece will leave the European Union’s so-called enhanced monitoring framework on August 20, its finance minister announced on Wednesday, giving the country more leeway in economic policymaking. The framework has
Published on August 10, 2022
By Debdutta Ghosh
Business & Finance
Foxconn Is Beginning To Feel The Sting Of Decreasing Smartphone Sales
After reporting revenues that above expectations, Apple iPhone assembler Foxconn issued a cautious prediction for the current quarter, citing decreasing smartphone demand following a pandemic-fueled surge. The views from the
Published on August 10, 2022
By Debdutta Ghosh
Economics
With Sanctions Taking Effect, Russia Begins Using Jetliners For Parts
According to four industry sources, Russian airlines, including state-controlled Aeroflot, are dismantling jetliners to get spare components that they can no longer buy outside due to Western sanctions. The efforts
Published on August 9, 2022
By Debdutta Ghosh
Economics
According To Analysts, Britain Is Evolving Into A ‘Emerging Market Country’
According to Saxo Bank, the United Kingdom is a “emerging market country” due to political insecurity, trade interruptions, an energy crisis, and surging inflation. The Bank of England warned last
Published on August 9, 2022
By Debdutta Ghosh
Economics
Indonesia’s Q2 GDP Growth Exceeded Expectations, Growing The Quickest In A Year
Official data showed that Indonesia’s economic growth surged in the April-June quarter due to an export boom fueled by higher commodity prices, but monetary tightening, rising inflation, and the prospect
Published on August 5, 2022
By Debdutta Ghosh
Business & Finance
The Vision Fund Slide Indicates That SoftBank’s Son Is In For More Suffering
Sliding valuations in SoftBank Group Corp’s Vision Fund unit’s listed portfolio portend to further pain for CEO Masayoshi Son when the company announces April-June profits on Monday, as investors chill
Published on August 5, 2022
By Debdutta Ghosh
Economics
Russian Services Sector Experienced Highest Output Growth In Over A Year, Shows PMI Data
According to a business poll released on Wednesday, Russia’s services industry rose at its highest rate in more than a year in July, as strong domestic demand outpaced declining export
Published on August 3, 2022
By Debdutta Ghosh
Economics
Worldwide Volatility Threats Posed As US Considers Fresh China Semiconductor Tariffs
Experts argue that the export restrictions being explored by Washington to impede China’s progress in semiconductor manufacturing could come at a high cost, potentially upsetting delicate global chip supply networks
Published on August 3, 2022
By Debdutta Ghosh
Economics
According To A Poll, UK Firms Forecast Little Growth In The Next Three Months
A monthly survey released on Sunday revealed that British firms do not expect any growth in the next three months as rising living costs constrain consumer demand. The Confederation of
Published on July 31, 2022
By Debdutta Ghosh
Economics
As Covid Flares Up, China’s Industry Activity Unexpectedly Declines In July
According to a poll released on Sunday, China’s manufacturing activity fell sharply in July after rebounding from COVID-19 lockdowns the month before, as new viral outbreaks and a bleak global
Published on July 31, 2022
By Debdutta Ghosh
Business & Finance
P&G Misses Earnings And Sees Reduced Growth As Consumers ‘Scrimp’
Procter & Gamble Co reported quarterly earnings that fell short of expectations and anticipated reduced sales growth, blaming rising transportation and commodity costs, consumer reductions, and retailer reluctance to raise
Published on July 30, 2022
By Debdutta Ghosh
Business & Finance
Amazon And Apple Raise Expectations As Investors Prepare For A Slowdown
Apple and Amazon added almost $175 billion to their combined market worth after strong earnings reinforced investor confidence in their ability to weather an economic slump. While analysts emphasised that
Published on July 30, 2022
By Debdutta Ghosh
Business & Finance
Renault’s Outlook Improves As Its Turnaround Strategy Begins To Bear Fruit
Renault raised its full-year forecast on Friday, saying its turnaround plan to boost profitability was producing results ahead of time. Renault shares were up about 6 per cent at 0745
Published on July 29, 2022
By Debdutta Ghosh
Business & Finance
AstraZeneca Raises Its Revenue Forecast On COVID Therapy
After reporting a second-quarter profit that exceeded analyst estimates, AstraZeneca said it expects prescriptions for its Evusheld injectable to defend against COVID-19 to drive sales growth of more than 20
Published on July 29, 2022
By Debdutta Ghosh
Science & Technology
Indonesia Starts On-Road Testing Of Biodiesel That Has 40% Palm Oil
According to the energy ministry of Indonesia, the country has begun testing two types of biodiesel that contain 40 per cent palm oil in the hopes of determining by the
Published on July 27, 2022
By Debdutta Ghosh
Business & Finance
Worldโs Richest Family, The Waltons, Loses $11.4 Bn, As Earnings Outlook Is Cut By Walmart
The Walton family, the richest family in the world, saw a $11.4 billion decline in total worth on Tuesday as a result of Walmart Inc. cutting its earnings projection for
Published on July 27, 2022
By Debdutta Ghosh
Economics
China Is Planning A Real Estate Fund Worth Up To $44 Billion For The Distressed Industry: Reports
According to a central bank official of China with direct knowledge of the situation, China will form a real estate fund to assist property developers in resolving a crushing debt
Published on July 25, 2022
By Debdutta Ghosh
Economics
Singapore June Core Inflation Reaches A 13-Year High, Putting Tightening Worries In The Spotlight
Singapore’s core consumer price index climbed at its fastest rate in more than 13 years, according to official statistics released on Monday, putting greater pressure on the central bank to
Published on July 25, 2022
By Debdutta Ghosh
Business & Finance
Uniper Receives A $15 Billion Bailout From Germany Following A Russian Gas Outage
On Friday, the German government intervened to save Uniper with a 15 billion euro ($15.28 billion) bailout, after the gas importer became Europe’s greatest casualty of Europe’s energy stalemate with
Published on July 23, 2022
By Debdutta Ghosh
Business & Finance
With The Starlink Mission, SpaceX Breaks The Annual Launch Record
Elon Musk’s SpaceX set a new record for the number of rockets launched in a calendar year on Friday, breaking the previous year’s total of 31 flights during a frenetic
Published on July 23, 2022
By Debdutta Ghosh
Economics
Poll Shows US Fed Likely To Maintain Its July Rate Hike Of 75 Basis Points; A 40% Likelihood Of A Recession Predicted
The Federal Reserve of the United States will choose for another 75 basis point rate hike rather than a greater move at its meeting next week to combat stubbornly high
Published on July 22, 2022
By Debdutta Ghosh
Economics
With Another Record Quarter, Big Oil Is Prepared To Unlock The Cash Taps
Top Western energy corporations are likely to payout billions to shareholders when they report their second-straight quarter of record profits, boosted by excellent refining margins and high oil and gas
Published on July 22, 2022
By Debdutta Ghosh
Business & Finance
Netflix Forecasts Customer Growth Soothing Concerns Of Wall Street Investors
Netflix Inc avoided its own worst-case scenario of subscriber losses on Tuesday, reporting a nearly 1 million reduction from April to June and predicting a return to user growth in
Published on July 20, 2022
By Debdutta Ghosh
World & Politics
Doubts Expressed By US Lobby Groups Over Autonomy Of India Content Appeal Panel
According to Reuters, US lobbying groups representing Facebook and Twitter are concerned that India’s plan to construct a government tribunal to hear appeals against content moderation rulings will lack independence.
Published on July 20, 2022
By Debdutta Ghosh
Business & Finance
Shopify Collaborates With Youtube To Boost Revenues From Content Creators
Shopify Inc established a collaboration with Alphabet Inc’s YouTube on Tuesday to allow merchants to sell through the video platform, as the Canadian firm seeks to capitalise on the growing
Published on July 19, 2022
By Debdutta Ghosh
Business & Finance
France Will Spend $10 Billion To Gain Complete Control Of EDF
France’s government has offered to spend 9.7 billion euros ($9.85 billion) to buy out EDF, giving it complete control of Europe’s largest nuclear power operator as it deals with a
Published on July 19, 2022
By Debdutta Ghosh
Business & Finance
Amazon Competes With Tesco In The United Kingdom Via A Price Matching Programme
Amazon, looking for a competitive advantage in the face of rising living costs, announced on Monday that it will match Tesco’s prices on hundreds of products. Amazon Fresh’s new scheme,
Published on July 18, 2022
By Debdutta Ghosh
Business & Finance
Bank Of America’s Profit Falls 34% As Deals Dry Up
On Monday, Bank of America Corp reported a nearly 34 per cent reduction in second-quarter earnings, owing to a drop in investment banking revenue as dealmaking activity was a fraction
Published on July 18, 2022
By Debdutta Ghosh
Business & Finance
Twitter Has A Legal Advantage In Its Deal Battle With Musk
According to legal experts, Twitter Inc has a strong legal case against Elon Musk for walking away from his $44 billion bid to acquire the U.S. social media business, but
Published on July 10, 2022
By Debdutta Ghosh
Business & Finance
A Drop Of 5.9% For Hedge Funds In First Half Of 2022
Hedge funds underperformed in June, increasing their losses for the year to over 6 per cent, according to a report released on Friday by hedge fund data provider HFR. Last
Published on July 10, 2022
By Debdutta Ghosh
Economics
Shinzo Abeโs Efforts To Revitalise The Japanese Economy
Former Japanese Prime Minister Shinzo Abe, who was killed on Friday, had hoped to restructure the country’s economy. He was the country’s longest-serving prime minister, retiring in late summer 2020.
Published on July 9, 2022
By Debdutta Ghosh
Economics
In June, The US Economy Added More Jobs Than Predicted
According to official estimates, the US economy added 372,000 jobs in June, considerably exceeding expectations. Economists predicted that the country will add between 250,000 and 295,000 jobs. According to the
Published on July 9, 2022
By Debdutta Ghosh
Business & Finance
Volkswagen And Its Partners Want To Invest $20 Billion In The Automobile Battery Industry
Volkswagen and its partners will invest more than 20 billion euros ($20.38 billion) in a battery cell business, generating 20,000 jobs and aiming for annual sales of more than 20
Published on July 8, 2022
By Debdutta Ghosh
Business & Finance
China Tightens Regulations On The $1.3 Trillion Credit Card Industry
China issued stricter guidelines late Thursday to better control its $1.3 trillion credit card sector, asking lenders to pursue a “prudent” expansion strategy and continuously monitor risks. According to rules
Published on July 8, 2022
By Debdutta Ghosh
Business & Finance
China’s IPO Applications Are Increasing, Breaking The Worldwide Trend, As COVID Restrictions Are Relaxed
A surge in Chinese company listing applications in June almost doubled China’s IPO candidates to nearly 1,000, the biggest in at least three years, potentially making China a bright spot
Published on July 7, 2022
By Debdutta Ghosh
Economics
Euro Is At A Two-Decade Low, While Volatility Is At Its Highest Since March 2020
A small decline in the dollar provided some relief to the euro, allowing it to move away from two-decade lows recorded this week after surging oil costs fueled recession fears.
Published on July 7, 2022
By Debdutta Ghosh
Business & Finance
UK Retailer AO World Aims To Raise $48 Million In Financing
AO World, a British online electricals retailer, plans to raise around 40 million pounds ($47.7 million) in new capital to bolster its balance sheet and increase liquidity, just days after
Published on July 6, 2022
By Debdutta Ghosh
Economics
Euro Is Dropping Close To The Parity Pain Point
A rush for dollars as global economic slump fears loom has beaten and scarred other currencies, with the euro suffering the most as rising European gas prices worsen economic growth
Published on July 6, 2022
By Debdutta Ghosh
Economics
Euro Drops To 20-Year Low Against The Dollar Amid Building Fears Of A Recession
On Tuesday, the euro dropped to its lowest level in two decades, falling more than 1 per cent for the day to $1.0283. It comes as fears of a eurozone
Published on July 5, 2022
By Debdutta Ghosh
Economics
Survey Warns Firms Customers Seeking More Than Low Prices Due To Rise In Cost Of Living
According to a survey, six in ten customers believe low prices will become more influential when deciding where to shop and what to buy in the next two years. According
Published on July 5, 2022
By Debdutta Ghosh
World & Politics
1 Bln Records Of Chinese Citizens Stolen From Police, Claims A Hacker
A hacker claims to have obtained a wealth of personal information on one billion Chinese individuals from the Shanghai police, which, if accurate, would be one of the largest data
Published on July 4, 2022
By Debdutta Ghosh
Economics
Sri Lanka’s Energy Minister Warns Petrol Inventories Are Running Very Low
With the country facing its worst economic crisis in more than 70 years, Sri Lanka’s energy minister has given a dire warning about the country’s fuel stockpiles. Kanchana Wijesekera stated
Published on July 4, 2022
By Debdutta Ghosh
Science & Technology
Hydrogen Booster Truck Model Launched By UK EV Startup Tevva
Tevva, a British commercial electric vehicle (EV) startup, debuted its first truck with a hydrogen fuel cell booster on Thursday, with a range of up to 310 miles (499 km)
Published on July 3, 2022
By Debdutta Ghosh
Business & Finance
After Complaints By The EU, Amazon To Allow Prime Users To Unsubscribe In Just Two Clicks
Following consumer group complaints, Amazon has made it easier for users to cancel their subscriptions to its quick shipping club Prime with only two clicks, according to the European Commission
Published on July 3, 2022
By Debdutta Ghosh
Economics
Imports Of Fertiliser Into Brazil Increase As Farmers Prepare To Plant New Crops
According to official data issued on Friday, Brazilian fertiliser imports increased 18.6 per cent in June to 4.15 million tonnes, allaying concerns about delivery problems due to trade restrictions on
Published on July 2, 2022
By Debdutta Ghosh
Economics
Chip Stocks Take A Beating As A Micron Prediction Indicates Dwindling Demand
A few chipmakers, notably Micron and AMD, have signalled weakening demand as high inflation squeezes spending, even as it alleviates a two-year worldwide semiconductor scarcity that has hampered production of
Published on July 2, 2022
By Debdutta Ghosh
Business & Finance
India Hikes Import Tax On Gold From 7.5% To 12.5%
The government of India hiked its basic import duty on gold from 7.5 per cent to 12.5 per cent on Friday, as the world’s second largest consumer of the precious
Published on July 1, 2022
By Debdutta Ghosh