Browsing: Business

Luxury giant LVMH witnessed a dramatic plunge in its shares, falling by as much as 8% on Wednesday. This substantial dip came in the wake of the company’s announcement that its third-quarter revenue growth had decelerated significantly compared to the first half

Amidst a challenging global economic environment, Samsung, the South Korean tech juggernaut, anticipates a sharp 78% decline in its operating profit for the third quarter, reflecting the prolonged dampening demand for consumer electronics. On Wednesday, the company released its earnings forecast,

Amid concerns about the state of the world economy, Kristalina Georgieva, the head of the International Monetary Fund (IMF), painted a picture of weak yet enduring growth. Speaking from Abidjan, Côte d’Ivoire, she emphasized the global economy’s resilience against a backdrop

Sandoz’s entrance into the stock market on Wednesday faced a chillier reception than expected. The biosimilar and generic drugmaker, which recently parted ways from Swiss healthcare behemoth Novartis, began trading at a valuation of 10.3 billion Swiss francs ($11.2 billion). This valuation

Chinese stocks in Hong Kong faced a significant downturn as trading restarted after the holiday. This decline was influenced by an overarching risk-averse sentiment throughout the region and escalating concerns about China’s economic prospects. The Hang Seng China Enterprises Index,

Amid concerns about China’s economic stability and diminished global demand, the World Bank has revised its growth projections for developing East Asia and the Pacific. The bank’s most recent assessment, unveiled in its Monday report from Asia, predicts the region will see

The United Nations Conference on Trade and Development (UNCTAD) has sounded the alarm for a swift and inclusive shift towards a green maritime industry. Launched on the eve of World Maritime Day, UNCTAD’s Review of Maritime Transport 2023 accentuates the urgent need

The conclusion of the Federal Reserve’s recent two-day policy meeting brought with it a decision to keep interest rates steady. This came as somewhat of a surprise, given the central bank’s aggressive approach over the past year and a half, during which

As the US grappled with the aftermath of the COVID-19 pandemic, new data paints a bleak picture. Inflation-adjusted income witnessed a decline, while the child poverty rate more than doubled from 2021, according to the recent U.S. Census Bureau report. The U.S. economy’s

In a groundbreaking move, the African Union was inducted as a permanent member of the G20 today. The induction took place in New Delhi at the opening session of the G20 Summit. Prime Minister Narendra Modi, leading the session, formally invited Azali Assoumani,