Fears of a severe recession deepen as European business activity slows on surging energy costs
European firms have been under pressure due to higher inflation, particularly coming from energy costs and wage pressures.
Tesla shares closed down 1% after Elon Musk’s EV firm cuts price of cars in China
Tesla cut the price of its Model 3 and Model Y in China, partly reversing price hikes earlier in the year.
Rishi Sunak closes in on Downing Street after Boris Johnson pulls out of leadership race
Rishi Sunak looks set to become the next U.K. prime minister with results to be announced Monday afternoon.
Almost half of the ultra-rich haven’t figured out how to pass on their wealth, research finds
41% of investors with more than $1 million worth of assets have not planned how they will pass on their wealth, a report by UBS found.
The UK’s Conservative Party is gearing up for a new leader. Here’s what to expect
The U.K. is gearing up to install a new prime minister this week — its fifth in six years — following the resignation of Liz Truss just 44 days into the job.
Economies in Asia have the tools to manage economic headwinds, U.S. deputy Treasury secretary says
During the two-day APEC finance ministers’ meeting, countries pledged not to adjust exchange rates for competitive purposes.
China GDP beats with a bounce in the third quarter, delayed data shows
The data reflected the impact of Covid controls and the real estate slump, while the automobile industry remained a bright spot.
Two Koreas exchange warning shots near maritime border amid tensions
In recent weeks, North Korea launched short-range ballistic missiles and artillery rounds on several occasions in protest over the South’s military activities.
Hong Kong’s Hang Seng down around 6% in mixed Asia trade; Japan’s yen weakens despite reports of intervention
Asia-Pacific shares were mixed on Monday after U.S. stocks soared on Friday on a report that some Fed officials are concerned about tightening policy too much.
From copper to cybersecurity, Goldman Sachs picks less obvious stocks to play the clean energy trend
Goldman Sachs has identified four “critical” sectors within clean energy, beyond the usual suspects.
