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World Bank: Global rate hikes could trigger 2023 recession
Interest rate hikes by central banks around the world could trigger a global recession in 2023, the World Bank has said.
Central banks have raised rates "with a degree of synchronicity not seen over the past five decades" to…
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South Korea ‘cryptocrash’ boss faces arrest warrant
A South Korean court has issued an arrest warrant for Do Kwon - who co-founded the company behind the Terra Luna and TerraUSD cryptocurrencies.
Their spectacular collapse earlier this year spooked investors and saw the values…
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Oil giant Shell appoints renewables head as boss
Shell is to replace its current boss Ben van Beurden with its head of gas and renewables, the oil giant has said.
Mr van Beurden will to step down at the end of 2022, and be replaced by Wael Sawan.
Mr Sawan, a duel…
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Billionaire boss gives fashion firm away to fight climate change
The billionaire founder of the outdoor fashion brand Patagonia has given away his company to a charitable trust.
Yvon Chouinard said any profit not reinvested in running the business would go to fighting climate change.…
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Starbucks projects profit growth from tech, new stores, workers spending
Starbucks projects profits to grow between 15 percent to 20 percent per share over the next three years, a significant increase from previous guidance based on spending plans of US$2.5 billion (S$3.5 billion) to US$3 billion over the same…
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UK inflation: Food prices rise at fastest August rate in 27 years
Food prices soared at their fastest rate in 27 years in August, compared with July, official figures show.
But falling petrol prices meant the overall inflation rate slowed slightly in the year to August, the Office for…
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Google faces $35.4 billion damages claims in UK, Dutch courts over adtech practices
Alphabet unit Google faces damages claims for up to 25 billion euros (S$35.38 billion) over its digital advertising practices in two suits to be filed in British and Dutch courts in the coming weeks by a law firm on behalf of publishers.…
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Egypt climate champion calls for new metric on climate finance
Developing country climate financing needs should start being reframed at the UN climate summit in November, in order to move beyond the outdated, and unfulfilled, US$100 billion (S$140 billion) that rich nations had pledged to deliver each…
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Japan’s liquor businesses turn to non-alcoholic drinks to attract Gen Z
Bucking the age-old stereotype of hard-drinking college students, Manaka Okamoto considers the next day's schedule before cracking open an alcoholic beverage.
"If I have to get up early, and I think 'Oh, I should hold off on drinking',…
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India is quietly laying claim to economic superpower status
The rise of China has been the biggest story in the global economy in recent decades. But amid concern about its stumbling property market and global fears about inflation, the emergence of its neighbor, India, as a potential new economic…
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