Business News

For ASEAN countries, IMF sees slower global growth outweighing China reopening By Reuters

© Reuters. A view of the city skyline in Singapore December 31, 2020. REUTERS/Edgar Su/Files SINGAPORE (Reuters) – International Monetary Fund’s chief economist said on Tuesday that Singapore and other Southeast Asian economies are seeing downgrades to their 2023 growth outlook because slowing global growth will outweigh the positive impact from China’s economic reopening. Pierre-Olivier …

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IMF forecasts UK recession despite other leading economies growing

Britain is the only leading economy likely to slide into recession this year, the IMF said on Tuesday, predicting that UK household spending would falter under the weight of high energy prices, rising mortgage costs and increased taxes. The fund upgraded its forecasts for most leading economies and said the global outlook had brightened. But …

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Housing market slump gives homebuilders no choice but to offer aggressive mortgage rate buydowns

The second half of 2022 saw the red-hot US housing market thrust into an abrupt—and sharp— slowdown. That’ll happen when Mortgage rates spike from 3% to 6% just after US home prices skyrocketed over 40% during the Pandemic Housing Boom. Unlike existing home sellers who can just wait out the storm, US homebuilders—who have a …

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Just days after Lisa Marie Presley’s burial, the legal maneuvering for her estate has already begun

Priscilla Presley has filed legal documents disputing who oversees the estate of her late daughter Lisa Marie Presley. The filing in Los Angeles Superior Court last week disputes the validity of a 2016 amendment to Lisa Marie Presley’s living trust that removed Priscilla Presley and a former business manager as trustees and replaced them with …

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US airlines cancel over 1,000 flights over winter storm By Reuters

© Reuters. (Reuters) – More than 1,000 Monday flights into or out of the United States have been canceled due to a severe winter storm, with about half of those coming from Southwest Airlines (NYSE:) Co. A total of 1,019 flights were canceled as of 6:00 pm ET, according to flight-tracking service FlightAware. Low-cost carrier …

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UK review of EU laws expanded after 1,000 pieces of legislation added

A UK government plan to review or revoke all EU laws left on the UK statute book by the end of 2023 became tougher on Monday after it announced that another 1,000 pieces of legislation had been added to the scheduled pile for reform. In an update to its “dashboard” of leftover EU laws, the …

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The world isn’t ready for the next pandemic, which could be ‘just around the corner,’ global health organization warns

The world remains “dangerously unprepared” for the next pandemic, according to a report released Monday by the world’s largest humanitarian network. The report, released by the International Federation of Red Cross and Red Crescent Societies, cites the Johns Hopkins-backed 2021. Global Health Security Index, which rated nearly 200 countries on emergency health preparedness. On a …

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Russian businessman goes on trial on US hack-and-trade charges By Reuters

3/3 © Reuters. Vladislav Klyushin, an owner of an information technology company with ties to the Russian government, is seen in an undated photograph attached to a US Department of Justice filing. US Dept. of Justice/Handout via REUTERS 2/3 By Nate Raymond BOSTON (Reuters) – A Russian businessman with ties to the Kremlin made tens …

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SEC official says FTX failure shows need for private placement reform

A US financial regulator has urged better disclosures for investors who buy company stock through private placements, citing the collapsed cryptocurrency exchange FTX as an example of the dangers of opaque offerings. Private placements are sales of equity outside of public markets. US rules largely limit offerings to so-called accredited investors who are thought to …

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School where 6-year-old shot his teacher reopens with police stationed outside and nervous kids inside: ‘There are concerns, of course’

The Virginia elementary school where a 6-year-old boy shot his teacher reopened Monday with stepped-up security and a new administrator, as nervous parents and students express optimism about a return to the classroom. Richneck Elementary School in Newport News Its doors opened more than three weeks after the Jan. 6 shooting. Police have said the …

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