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China Has Slapped Economic Restrictions On Taiwan In Response To Pelosi's Visit

China restricted natural sand exports to Taiwan and froze imports of fruit and seafood goods from the self-governed island on Wednesday, as US House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip criticised by Beijing.    Chinese customs had blocked imports from 35...

Credit Suisse Replaces Its CEO And Initiates A Strategy Review In The Wake Of A Large Second-Quarter Loss

In its most recent effort to recover from a string of scandals and losses, Credit Suisse Group AG chose Ulrich Koerner as its new chief executive on Wednesday and announced cost cutbacks as part of a strategic assessment.   The announcement is the result of months of pressure on the...

Japan Reduces Its Fiscal Year GDP Growth Is Expected To Be 2% Due To A Drop In Global Demand

Japan's government cut its economic growth prediction for this fiscal year, citing falling foreign demand, Russia's war in Ukraine, China's tight COVID-19 lockdowns, and a weaker global economy.   The prediction, which serves as the foundation for the state budget and the government's fiscal...

Property Developers In China Accepting Farm Produce As Payments For Homes

In recent months, several Chinese property developers have stated that they will take food as payment for properties in order to entice consumers. Companies offered arrangements in which customers could use products, such as peaches, watermelons, and garlic, as down payments on new homes.  ...

Price Hike In Turkey Is The Fastest For 24 Years

According to the most recent official numbers, prices in Turkey are rising at their quickest rate in 24 years. In June, the annual rate of inflation, or the rate at which prices grow, was 78.62 per cent, somewhat more than expected.   Transportation and housing prices rose the most,...

A Financial Dispute Threatens An EU Agreement On New Climate Laws

A disagreement over how to protect poorer residents from European Union proposals to put a price on pollution is threatening to derail the bloc's agreement on a slew of new green initiatives.   Environment ministers from the EU's 27 nations will gather on Tuesday to try to reach an agreement...

Climate Warming Is Causing Catastrophic Heat And Flooding In 2022

Extreme weather events, ranging from blistering heatwaves to abnormally heavy downpours, have caused extensive disturbance around the world this year, killing hundreds and displacing millions.   Monsoon rains have caused devastating flooding in Bangladesh, while violent heatwaves have...

To Alleviate Shortages, Cash-Strapped Sri Lanka Will Eliminate Its Petroleum Duopoly

Sri Lanka will enable oil-producing countries' corporations to import and sell petroleum, the power and energy minister said on Tuesday, breaking a duopoly as the country works to address a petrol and diesel shortfall that is deepening an economic crisis.   The Cabinet decision occurred as...

G7 To Increase Penalties On Russia, Is Close To Reaching An Agreement On Oil Price Ceiling

A senior US official said on Monday that the Group of Seven rich democracies will commit to a new package of coordinated actions on Tuesday to put pressure on Russia over its war in Ukraine, as well as finalise plans for a price restriction on Russian oil.   The revelation occurred as the...

Investors In Meme Stocks Believe Bankrupt Revlon Will Become The Next Hertz

Revlon Inc is a risky bet even for a seasoned meme stock trader like Mike Minutelli.   The 30-year-old plumber from Oxford, North Carolina, made a 350% profit last week by selling half of the shares in the US cosmetics company he purchased after it filed for bankruptcy on June 16. He...

Following Pressure From Toyota's CEO, Japan Emphasises Its Support For Hybrid Vehicles

Toyota Motor Corp.'s CEO pressed the Japanese government to make it clear that it backed hybrid vehicles as much as battery electrics or risk losing support from the auto sector, a top politician told a governing party conference.   The lobbying by Toyota President Akio Toyoda and Chairman...

Australia's Electricity Market Suspension Will Be Lifted When Prices Fall

As the country's power crisis subsides, Australia's energy market operator says it will lift its suspension of the country's major wholesale electricity market. The limitations will be lifted temporarily on Thursday until a final decision is reached.   Following a price increase, it banned...
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