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China's export growth slowed sharply in September, raising new concerns about the outlook for the world's second-largest economy. According to data released by the Chinese customs office on Monday, exports rose just 2.4% year-on-year in U.S. dollar terms, a significant decline from the 8.7% increase reported in August.
Biden and Xi to Hold Final Meeting at APEC - btimesonline.com
1 day ago · Biden's meeting with Xi on the sidelines of the APEC summit is set to be their third and likely final engagement during Biden's presidency, according to national security adviser Jake Sullivan. Biden aims to emphasize the importance of maintaining stability and clear lines of communication between the two nations. "This is an important meeting.
GM Lays Off 1,000 Workers Amid Cost-Cutting and Strategic Shift …
8 hours ago · General Motors (GM) announced on Friday that it has laid off roughly 1,000 employees as part of an effort to reduce costs and adapt to evolving market dynamics. According to a source familiar with the matter, the decision to implement the job cuts was driven by a need to streamline operations, enhance efficiency, and shift priorities within the organization amid fluctuating economic and market ...
Alibaba Posts Strong Profit Growth Amid China’s Economic Slump, …
9 hours ago · Alibaba Group Holding Ltd. (NYSE: BABA) reported a notable increase in net income for its fiscal second-quarter ending September 30, beating Wall Street's profit expectations despite facing challenges in consumer spending amid a weakening Chinese economy. However, revenue growth fell slightly short of estimates, reflecting economic uncertainties and a fragile retail environment.
China’s Retail Sales Surge Amid Economic Stimulus While Real …
8 hours ago · Retail sales climbed 4.8% year-on-year in October, beating a 3.8% forecast from a Reuters poll and accelerating from 3.2% growth in September, according to data released Friday by the National Bureau of Statistics (NBS). The stronger-than-expected retail performance was driven by robust consumer activity during China's week-long National Day ...
US Wholesale Prices Show Moderate Rise as Markets Eye Fed's …
1 day ago · Wholesale prices in the United States ticked higher in October, with the producer price index (PPI) rising 0.2% from the previous month, aligning with market expectations, according to the Bureau of Labor Statistics' latest report released on Thursday. The uptick, which follows a 0.1% increase in September, highlights the ongoing but moderating ...
GM Reports Strong Q3 Earnings, Raises Profit Forecast for Third …
Oct 23, 2024 · General Motors (GM) delivered stronger-than-expected third-quarter earnings on Tuesday, raising its full-year profit forecast for the third time this year. The automaker's results were buoyed by robust vehicle sales, higher transaction prices, and a renewed focus on cost-cutting initiatives. The company reported a 10% rise in revenue to $48.78 billion, far surpassing analyst estimates of $44. ...
IMF Raises U.S. Growth Forecast Amid Global Concerns, Cuts …
Oct 23, 2024 · The International Monetary Fund (IMF) has raised its 2024 economic growth forecast for the U.S. while trimming expectations for key global players such as China and the eurozone. The updated World Economic Outlook, released on Tuesday, projects U.S. growth at 2.8%, up two-tenths of a percentage point from July's forecast.
Boeing Faces $1 Billion Labor Deal as Striking Workers Prepare to …
Oct 22, 2024 · Boeing Co. (BA.N) is on the brink of resolving a labor strike that has crippled its production for more than five weeks. However, the financial and operational costs loom large, with analysts estimating that the proposed new contract could add over $1 billion to the company's wage-related expenses over four years. The contract is set for a critical vote on Wednesday, coinciding with Boeing's ...
U.S. Deploys B-2 Stealth Bombers Against Houthi Targets in …
Oct 18, 2024 · The United States conducted a series of airstrikes against Iran-backed Houthi militants in Yemen late Wednesday, utilizing B-2 stealth bombers for the first time in its campaign. According to Defense Secretary Lloyd Austin, the strikes targeted five underground weapons storage sites near Yemen's capital, Sana'a, and in Saada, the traditional stronghold of …