US fines ratings agencies for 'significant' recordkeeping failures

The US market regulator charged and fined six major ratings agencies on Tuesday, including Moody's, S&P and Fitch, over what it called "significant recordkeeping failures."
4 September 2024, 11:25 AM

Trade War II will be easy to lose for China

“Trade wars are good, and easy to win,” Donald Trump tweeted in March of 2018 when he was US president, just months before kicking off in earnest one of the largest trade conflicts in modern history.
4 September 2024, 09:31 AM

US manufacturing mired in weakness; construction spending falls

US manufacturing contracted at a moderate pace in August amid some improvement in employment, but a further decline in new orders and rise in inventory suggested factory activity could remain subdued for a while
4 September 2024, 06:42 AM

China's services activity expansion slows in August, Caixin PMI shows

Growth in China's services sector activity slowed in August despite the summer travel peak, prompting some firms to cut staff amid concerns about rising costs, a private-sector survey showed on Wednesday
4 September 2024, 05:49 AM

Nvidia says it plays fair in AI chip market

Nvidia on Tuesday defended its tactics in the hot market for chips to power artificial intelligence in the face of reports the US is probing whether it abused its clout
4 September 2024, 05:23 AM

Summery weather helps boost UK consumer spending, surveys show

British consumer spending increased modestly in annual terms during August, fuelled by spending on food and drink during summery weather, according to surveys on Tuesday that added to signs of steady economic growth in the second half of 2024
3 September 2024, 05:25 AM

China warns Japan of retaliation over potential new chip curbs

China has warned severe economic retaliation against Japan if it further restricts sales and servicing of chipmaking equipment to Chinese firms, Bloomberg News reported on Monday, citing people familiar with the matter
2 September 2024, 06:20 AM

Asian factories show tentative recovery as China improves

Asian factories, including China's manufacturing sector, showed signs of a tentative recovery in August and chip makers benefitted from firm demand, private surveys showed on Monday, but economic headwinds loom
2 September 2024, 06:06 AM

China manufacturing contracts for fourth straight month

Chinese manufacturing contracted for a fourth consecutive month in August, official data showed Saturday, a worse-than-expected result reflecting the world’s second-largest economy’s struggle to recover.
1 September 2024, 18:00 PM

Russia payment hurdles with China partners intensify

Some Russian companies are facing growing delays and rising costs on payments with trading partners in China, leaving transactions worth tens of billions of yuan in limbo, Russian sources with direct knowledge of the issue told Reuters.
1 September 2024, 18:00 PM

OpenAI, Meta flex muscles as AI race heats up

OpenAI, the creator of ChatGPT, said that usage of its iconic chatbot had more than doubled since November to 200 million active monthly users
1 September 2024, 06:20 AM

Eurozone inflation falls to three-year low in August

Eurozone inflation fell to its lowest level in more than three years this month thanks to falling energy costs, official data showed on Friday, raising expectations of a European Central Bank interest-rate cut
1 September 2024, 05:53 AM

China manufacturing contracts for fourth straight month

Chinese manufacturing contracted for a fourth consecutive month in August, official data showed Saturday, a worse-than-expected result reflecting the world's second-largest economy's struggle to recover.
1 September 2024, 05:10 AM

Sri Lanka inflation drops to lowest point since crisis

Crisis-hit Sri Lanka’s annual inflation dipped sharply to 0.5 percent in August, the lowest year-on-year rate since the country declared bankruptcy in April 2022, official data showed Friday.
31 August 2024, 18:00 PM

Apple in talks to invest in OpenAI

iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest name in generative artificial intelligence, a news report said Thursday.
31 August 2024, 18:00 PM

India growth slows to 6.7% on lower consumer spending

India’s economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world’s fifth-largest economy.
31 August 2024, 18:00 PM

Moody's raises India's growth forecasts

The rating agency expects India's economy to expand 7.2% in 2024 from 6.8% previously
29 August 2024, 11:25 AM

How a single software update was able to cause IT chaos across the globe

The global IT outage on July 19 serves as a stark reminder of our vulnerability to technological failures
29 August 2024, 06:45 AM

As it reins in wasteful investment, China frets over growth

In the first seven months of this year, local governments have issued only 45.5% of their 3.9 trillion yuan special debt quota
29 August 2024, 06:18 AM

Apple eyes bigger slice of India's streaming market with Airtel deal

The move comes as competition tightens in India's $28-billion entertainment market and an $8.5-billion merger of the Indian media assets of Reliance and Walt Disney faces close scrutiny from regulators
28 August 2024, 06:48 AM