Raised in vertical farms and stuffed with fruit waste, fly larvae have been turned into animal feed, as a new Costa Rican venture in sustainability is demonstrating.
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Israel-Hamas war already affecting regional economies: IMF head
The raging war between Israel and Hamas is already battering the economies of nearby countries, the managing director of the International Monetary Fund told a Saudi investor forum on Wednesday. Georgieva spoke one day after Wall Street titans told the forum that the war could deal a heavy blow to the global economy, especially if it draws in other countries.
Japan auto show returns, playing catchup on EVs
Tokyo's rebranded auto show returns this weekend just as China looks set to overtake Japan as the world's biggest car exporter after Toyota, Nissan and others got stuck in the electric vehicle slow lane. Just 1.7 percent of cars sold in Japan were electric in 2022, compared with around 15 percent in western Europe, 5.3 percent in the United States and nearly one in five in China.
Stocks lifted by China spending plan, oil down on Israel hope
Most markets rose Wednesday after China unveiled plans for $137 billion in extra debt to boost infrastructure spending, while oil extended losses on hopes Israel will scale back its plans for a Gaza ground invasion.
California suspends tests of GM's Cruise self-driving car
California authorities on Tuesday suspended testing of Cruise self-driving cars being developed by General Motors, citing safety concerns following a series of accidents and other problems.
China announces $137 bn sovereign bond issuance
China announced Tuesday it would issue sovereign bonds worth 1 trillion yuan ($137 billion), state media said, in a move seen as an attempt to shore up the economy after a sluggish post-Covid recovery. The bonds unveiled Tuesday will be distributed to local governments to support national disaster prevention and recovery, state news agency Xinhua said.
Israel-Hamas war threatens world economy, bankers tell Saudi forum
The Gaza war raging between Israel and Hamas could deal a heavy blow to the global economy, banking titans told a glitzy investment forum in Saudi Arabia on Tuesday. "What just happened recently in Israel and Gaza ... you put all this together, I think the impact on economic development is even more serious," World Bank President Ajay Banga told the Future Investment Initiative (FII).
General Motors profits top estimates on limited Q3 strike hit
General Motors reported better-than-expected quarterly profits Tuesday behind strong US sales and a limited impact from a labor strike that began late in the quarter.
Spotify swings to profit as user numbers grow
Music streaming giant Spotify on Tuesday said it registered 26 percent growth in active users for the third quarter as it reported a rare quarterly profit. The 26 percent growth in monthly active users compared to the third quarter a year earlier saw the total reach 574 million.
Eurozone business activity going from 'bad to worse'
Eurozone business activity slumped at a faster pace in October, resulting in job losses, a closely watched Purchasing Managers' Index (PMI) survey put out by S&P Global showed Tuesday. "Companies cut employment as a result, representing the first drop in headcounts since the lockdowns of early 2021," S&P Global said in a statement giving the PMI survey result.
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