AFP
13876 articles published since 08 Mar 2022
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Growth downgrade for China 'very likely' on Covid surge: IMF chief
A lower growth forecast is "very likely" for China this year and next, with easing Covid-19 restrictions bringing a surge in infections and temporary difficulties, IMF chief Kristalina Georgieva told AFP Tuesday. While China's zero-Covid policy has battered its economy, "the easing of restrictions is going to create some difficulties over the next months" as well, Georgieva said.
Sam Bankman-Fried: crypto rock star facing life in jail
Sam Bankman-Fried has had a dizzying fall from top of the heap in the world of cryptocurrencies to staring down a hefty jail sentence on a raft of fraud charges. "I didn't ever try to commit fraud on anyone," Bankman-Fried told a New York Times conference on November 30.
India's Paytm to buy back shares after 75% stock rout
Indian mobile payments giant Paytm will launch a share buyback, it said Tuesday, offering investors little more than a third of what they paid just over a year ago in the country's then-biggest IPO. Paytm's shares have nosedived 75 percent since its $2.5 billion flotation in November 2021, demonstrating the risks of overpriced share offers in loss-making tech firms.
Fed opens meeting with smaller rate hike in the cards
US central bankers started a two-day policy meeting Tuesday, with all eyes searching for clear signs that decades-high inflation in the world's biggest economy is definitively slowing. A Fed spokesperson confirmed the policy-setting Federal Open Market Committee (FOMC) started its meeting as scheduled on Tuesday, and it is scheduled to announce its decision on Wednesday afternoon.
US inflation slows in November in smallest spike in year
US consumer inflation eased in November, according to government data released Tuesday, bringing some relief to policymakers with the smallest annual increase over the past year. Prices ticked up 0.1 percent from October to November, a smaller-than-expected increase after a prior 0.4 percent jump, the latest data showed.
BoE to test 'shadow banking' after markets chaos
The Bank of England will test so-called shadow banking institutions such as pension funds, that played a key role in recent UK bond market chaos, it said Tuesday. The crisis, which sparked the downfall of former Conservative prime minister Liz Truss, threw the spotlight on non-banking financial institutions (NBFIs) and their risk to stability, the BoE noted Tuesday.
United Airlines announces huge Boeing 787 order
Betting on robust demand for international travel, United Airlines on Tuesday unveiled an order of 100 new Boeing 787 Dreamliners with options for an additional 100 jets. United said it also exercised options for an additional 44 737 MAX planes between 2024 and 2026, and ordered 56 more MAX jets for 2027 and 2028.
SEC charges disgraced crypto tycoon Bankman-Fried with defrauding investors
The US Securities and Exchange Commission charged disgraced cryptocurrency tycoon Sam Bankman-Fried on Tuesday with defrauding customers of billions of dollars, a day after he was arrested in the Bahamas at the request of the United States.
Ghana reaches $3 bn deal with IMF
Ghana on Tuesday agreed on a $3 billion credit deal with the International Monetary Fund as part of the country's battle to end its worst economic crisis in decades. Major credit ratings agencies have downgraded their outlook on Ghana, reflecting market worries that the country risked missing debt payments.
AFP
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