IMF raises China GDP forecast after Beijing’s policy moves
In October, the IMF had lowered its growth forecast for China to 5% this year and 4.2% next year.
Nintendo hikes profit forecast as Mario movie, Zelda game breathe new life into Switch console
Nintendo reported better-than-expected sales and profit for its fiscal second quarter on Tuesday buoyed by the Super Mario movie and Zelda game.
UBS shares rise 3% as market focuses on strong underlying profit
UBS on Tuesday reported a bigger-than-expected third-quarter net loss of $785 million as it works to integrate fallen rival Credit Suisse.
Travelers put off holiday trips to Middle East as Israel-Hamas war rages
Major airlines extended temporary halts on flights into Israel through the end of the year while cruise operators are shifting itineraries to avoid neighboring countries as well.
China’s imports surprise with growth in October, but exports fall more than expected
Lackluster global demand for Chinese goods and muted domestic demand have dragged down China’s overall trade.
WeWork, once valued at $47 billion, files for bankruptcy
Office-sharing company WeWork filed for Chapter 11 bankruptcy protection in federal court Monday.
South Korea stocks dip 2% leading region’s losses as traders parse China trade data, RBA rate hike
South Korean stocks fell 2%, leading losses in the wider Asia-Pacific region as investors parse trade data coming out of China, as well as RBA’s rate hike.
The world’s two largest memory chipmakers signal demand weakness may have bottomed out
The recent earnings calls of the world’s two largest memory chipmakers signaled that a persisting weak demand may have bottomed out.
India debate on 70-hour workweek: Illegal or road to greatness?
Industry leaders in India agree with Infosys founder Narayana Murthy that a 70-hour work week is necessary for the country to compete with the U.S. and China.
China’s biggest shopping festival is set for a tepid 2023, survey finds
Most consumers in China are planning to keep a lid on spending during this year’s Singles Day shopping festival, according to a survey from Bain and Company.
