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☆ Tesla cuts prices nearly $2,000 in China, in line with U.S. cuts
▼ + stars: | 2024-04-21 | by ( ) www.cnbc.com time to read: +2 min

Model Y cars are pictured during the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022. Tesla has cut prices by nearly $2,000 across its models in China, after price cuts in the United States, as it grapples with falling sales and an intensifying price war for electric vehicles (EVs), especially against cheaper Chinese EVs. Tesla made similar cuts to the Model Y starting price, now 249,900 yuan, the regular version of the Model S to 684,900 yuan and the Model S Plaid to 814,900 yuan. The carmaker on Friday cut U.S. prices of its Model Y, Model X and Model S vehicles by $2,000. Tesla reported this month that its global vehicle deliveries in the first quarter fell for the first time in nearly four years, as price cuts failed to stir demand.

Persons: Tesla, Narendra Modi, Musk Organizations: Elon Musk's, Model, Plaid, Reuters Locations: Gruenheide, Germany, China, United States, India

☆ Nvidia is in a bubble, stocks will disappoint for a decade, and a recession will strike this year, markets guru warns
▼ + stars: | 2024-04-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Nvidia is in a bubble, stocks will falter, and a recession will hit this year, Jesse Felder said. The markets guru said the microchip frenzy would fade, and stock-market returns would drop off. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNvidia hype is a bubble that will burst, stocks will disappoint for the next decade or longer, and a recession will strike this year, Jesse Felder said.

Persons: Jesse Felder, —, outsize, Felder, Jeff Bezos, Meta's Mark Zuckerberg, Jamie Dimon Organizations: Nvidia, Service, Micron

THE HAGUE, Netherlands (AP) — French defense industry heavyweight Naval Group has been chosen to build four new diesel-electric submarines for the Dutch navy, the government announced Friday, in a provisional deal to replace three ageing Walrus Class subs. The Dutch government did not immediately announce the price tag for the new submarines. “Our shipyards can build excellent surface ships themselves, but unfortunately we have not had any Dutch navy yards that can design and build submarines themselves for more than 25 years," Economic Affairs Minister Micky Adriaansens said in a statement. Instead, Australia had struck a deal with the United States and Britain to provide submarines powered with U.S. nuclear technology, which French leaders said was sealed behind their backs. In a move to heal relations with France, Canberra later agreed to pay Naval Group a 555-million-euro settlement for breaking the contract.

Persons: “, Micky Adriaansens Organizations: Naval, Walrus, Ministry of Defense, Barracuda, ” Naval, Saab, Economic, ”, French Locations: HAGUE, Netherlands, ThyssenKrupp, Germany, French, Australia, United States, Britain, France, Canberra

☆ Analysis-As China's Xi Summons 'New Productive Forces', Old Questions Linger for Economy
▼ + stars: | 2024-03-05 | by ( March | At P.M. | ) www.usnews.com time to read: +5 min

By James Pomfret, Kevin Yao and Ellen ZhangHONG KONG/BEIJING (Reuters) - Facing its deepest economic challenges in years, China's leadership has tasked ministries and local governments with implementing a new mantra from President Xi Jinping: unleash "new productive forces". Beijing hopes the “new productive forces” campaign will strengthen China at a time when geopolitical pressures including steps by the United States to “decouple” or “de-risk” have curtailed access to foreign technology. "To support innovation, we should give people more freedom to think and talk, because many innovations result from the collision of ideas. The new mantra was also taken up by China's state planning agency, the National Development and Reform Commission. Its annual report on Tuesday pledged support for industries including satellite internet applications, China's BeiDou Navigation Satellite System, and research into nuclear fusion.

Persons: James Pomfret, Kevin Yao, Ellen Zhang HONG, Xi Jinping, Li Qiang, Xi’s, Xi, Tianchen Xu, Li, Steve Tsang, Ellen Zhang, Nick Macfie Organizations: Communist Party, Party, Reuters, Economist Intelligence Unit, SOAS China Institute, National Development, Reform Commission Locations: Ellen Zhang HONG KONG, BEIJING, China, China’s, Beijing, United States, London, Pearl

☆ Taiwan wants to hire Indian workers. What’s skin color or religion got to do with it?
▼ + stars: | 2024-03-05 | by ( Diksha Madhok | Wayne Chang | ) edition.cnn.com time to read: +4 min

New Delhi/Hong Kong CNN —Taiwan has swung into damage control mode after its labor minister made controversial comments about the skin color, religion and diets of some Indians ahead of a potential drive to recruit migrant workers to the island. In a separate apology, Taiwan’s labor ministry said Hsu implied “absolutely no discriminatory connotation when she mentioned ‘similar skin color’ in the interview. CNN has reached out to India’s Ministry of External Affairs for comments. In February, Taiwan said it will hire migrant workers from India to ease its labor shortage, but did not share any other details. Taipei currently allows migrant workers from Thailand, Vietnam, Indonesia and Philippines to work in the island, according to the labor ministry.

Persons: Hsu Ming, chun, ”, ” Hsu, Hsu, Hsu’s, Taiwan’s Foxconn, ” Young Liu, ” Liu, Padma Bhushan Organizations: Hong Kong CNN, Taiwan, Yahoo, Labor, CNN, India’s Ministry, Affairs, Padma, Bloomberg Locations: New Delhi, Hong Kong, Taiwan, India’s, India, China, Bangladesh, Myanmar, Covid, “ India, Japan, South Korea, Taipei, Thailand, Vietnam, Indonesia, Philippines

☆ Economist discusses artificial intelligence and Asia ageing population
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJapan: Automation not effective enough to offset ageing population downsides, economist saysCarlos Casanova, senior economist for Asia at UBP, says artificial intelligence is only "part of the solution."

Persons: Carlos Casanova Organizations: Japan, Automation Locations: Asia, UBP

☆ South Korea gives protesting doctors end-February deadline to return to work
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +2 min

South Korea's government on Monday told young doctors they had until the end of February to return to work or risk being punished for staging a week-long protest that has disrupted services for patients at several major hospitals. South Korea's government on Monday told young doctors they had until the end of February to return to work or risk being punished for staging a week-long protest that has disrupted services for patients at several major hospitals. "If you return to the hospital you left behind by Feb. 29, you won't be held responsible for what has already happened," he said. "We urge you to remember your voice will be heard loudly and most effectively when you are by the side of patients." The young doctors who are protesting say the government should first address pay and working conditions before trying to increase the number of physicians.

Persons: Lee Sang, soo Organizations: Monday Locations: Korea's, South

☆ Indonesia Scraps Plan to Buy Mirage Fighter Jets From Qatar
▼ + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

JAKARTA (Reuters) - Indonesia has ditched a controversial plan to buy 733 million euros ($790 million) worth of Mirage 2000-5 fighter jets previously used by Qatar, the defence ministry spokesperson said late on Saturday. "There is no purchase of Mirage jets. Last month, the ministry said the deal to purchase the 12 fighter jets was delayed due to fiscal constraints and that the military would order a retrofit for its existing Sukhoi and F-16 aircraft instead. The planned purchase garnered controversy when it was announced last year, as lawmakers said the secondhand jets were old. Prabowo has overseen the military's efforts to modernise its ageing fleet, which include purchases of Rafale fighter jets, drones from Turkish Aerospace and fighter jets and transport helicopters from U.S. companies Boeing and Lockheed Martin.

Persons: Dahnil Anzar Simanjuntak, Prabowo Subianto, Prabowo, Lockheed Martin, Ananda Teresia, Gayatri Suroyo Organizations: Mirage, Defence, Rafale, Turkish Aerospace, Boeing, Lockheed Locations: JAKARTA, Indonesia, Qatar, Israel, Gaza, U.S

☆ Nintendo hikes sales forecast of flagship Switch console to 15.5 million units
▼ + stars: | 2024-02-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Japanese gaming giant previously forecast sales of 15 million Switch consoles in the current fiscal year which ends in March. Here's how Nintendo did in its fiscal third quarter, from October to December, versus LSEG estimates: Net sales: 598.6 billion Japanese yen ($4 billion) versus 568.7 billion yen expectedNet profit: 136.7 billion Japanese yen versus 130.3 billion yen expected Net sales fell 6% year-on-year while net profit rose 18%. Switch boostThe December quarter underscores how Nintendo has managed to extend the life of its near seven-year old Switch console. Nintendo said the "Super Mario Bros. Wonder" game, which was released in October, had a "solid start," with sales of 11.96 million units. Nintendo Switch successor in focus

Persons: Mario, Zelda, Charly Triballeau, upping, Donkey Kong, Princess Peach Organizations: Nintendo, AFP, Getty, Mario Bros

☆ Goldman Sachs likes this under-the-radar European sector, naming 2 stocks with almost 40% upside
▼ + stars: | 2024-01-26 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +3 min

Europe's power grid is in dire need of an upgrade, Goldman Sachs says, naming two stocks it expects to benefit from the network's expansion and modernization. "Power grids sit in the sweet spot of electrification: besides an accelerating top line, we highlight attractive risk-adjusted returns, which are usually set on a 'cost plus' basis." Stock picks Goldman Sachs said the way to play this theme is through pure plays and green energy majors. The green energy industry has had a tough time of it since 2021 as global central banks hiked interest rates in an effort to combat inflation. "We believe power network activities represent an incremental leg in our re-rating thesis for Green Energy Majors," Goldman's analysts added, naming Enel and SSE as buy-rated stocks.

Persons: Goldman Sachs, Alberto Gandolfi, Stock, Goldman, — CNBC's Michael Bloom Organizations: Clean Energy ETF, Energy Index, Green Energy, Milan Stock Exchange, London Stock Exchange, Global Renewable Energy Locations: Europe

☆ Italy, EU's Oldest Country, Plans More Spending for Elderly
▼ + stars: | 2024-01-25 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +2 min

The government was set to present the package at the end of a cabinet meeting later on Thursday. With a median age of 48, Italy is the EU's oldest country, and also has the highest old-age dependency, defined as the ratio of people aged 65 and over to those of working age, according to statistics agency Eurostat. Pensions already eat up more than 15% of gross domestic product (GDP), and the Treasury expects spending to reach 17% of output in 2042. In its 2024 budget, the government earmarked around 1 billion euros for several measures aimed at addressing Italy's demographic crisis. One temporarily removes social contributions paid by working mothers with at least two children.

Persons: Giorgia Meloni, Angelo Amante, Giuseppe Fonte, Alvise, Peter Graff Organizations: Italian, Reuters, Ageing, Pensions, Treasury Locations: ROME, Italy, Rome

CNN —Josef Fritzl, the infamous Austrian rapist and sex offender, is seeking to be transferred from prison to a nursing home due to his deteriorating health and a recent psychiatric assessment that deemed him to be no longer a danger to society, according to his lawyer. Fritzl’s lawyer Astrid Wagner told CNN that “expert opinion suggests that his illness has reached a point where the likelihood of committing serious offenses with significant consequences has diminished,” citing the assessment. Fritzl kept four of those children captive in the cellar with his daughter, while allowing the others to live upstairs with his wife. Wagner is hoping that Fritzl will be released into an open prison and subsequently a nursing home. A three-judge panel will now decide whether he should be conditionally released to a regular prison.

Persons: CNN — Josef Fritzl, Astrid Wagner, Fritzl, Wagner, ”, Ferdinand Schuster, Krems, Schuster Organizations: CNN, ” CNN Locations: Austria, Fritzl, Krems

☆ China's population keeps falling — and that's more bad news for the world's 2nd-largest economy
▼ + stars: | 2024-01-17 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

Read previewChina's population fell again last year – and that's a worrying sign for Beijing policymakers already grappling with deflation, a property crisis, and anemic economic growth. It's the second consecutive year that China's population has shrunk after six decades of rapid growth. Here's why dropping population numbers pose a threat to the world's second-largest economy. Worrying dataChina's population fell in 2022 for the first time since the 1960s – and Wednesday's statistics showed that the same thing happened again last year. A declining population is also bad news for real estate, which accounts for a quarter of China's economy and 70% of household wealth.

Persons: —, lockdowns, They've, they'll Organizations: Service, Business, National Bureau, Statistics, World Health Organization, Apple Locations: Beijing, China, —, Japan

☆ China’s economy grew by about 5.2% in 2023, Premier Li tells Davos meeting
▼ + stars: | 2024-01-16 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s economy grew by about 5.2% in 2023, slightly better than the official target Beijing had set, Premier Li Qiang said Tuesday at the World Economic Forum’s annual meeting in Davos, Switzerland. “In the past year of 2023, China’s economy has generally rebounded and improved,” the country’s second highest official told the meeting of global business and political leaders. While this expansion would mark a significant pick-up over 2022, when China’s economy grew by just 3%, it is still one of the country’s economic worst performances in over three decades. “Even if there are twists and turns in China’s economic operation, its overall long-term positive trend will not change,” said Li. The premier is the most senior Chinese leader to attend the Davos forum in person since President Xi Jinping in 2017.

Persons: Li Qiang, Hong, Seng, ”, Li, Xi Jinping, Viola Amherd, Joe Biden, BRENDAN SMIALOWSKI, Xi Organizations: Hong Kong CNN, Beijing, Swiss, Economic Cooperation, APEC, Getty Locations: Hong Kong, Davos, Switzerland, “, China, Beijing, Asia, Woodside , California, AFP, United States

☆ The Houthi air force has a single fighter jet — an ancient F-5. The US is very much not afraid of it.
▼ + stars: | 2024-01-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

The Houthi forces in Yemen have just one jet, an old F-5. The US has launched airstrikes on the Houthis — which an F-5 probably can't do much about. AdvertisementThe Houthi rebels in Yemen have one of the world's strangest fighter jet fleets — a single, aged F-5 fighter jet. The claim was made by a US official to Chris Gordon, who covers the Pentagon for Air & Space Forces Magazine. Its air force apparently consists of just one F-5 fighter jet it seized from government forces during the recent civil war.

Persons: —, Chris Gordon, Joshua Koontz, it'd Organizations: US, Service, Pentagon, Air & Space Forces Magazine Locations: Yemen, Red, Iran, Sanaa

☆ Japan wants higher returns for investors — here's what it's doing
▼ + stars: | 2024-01-12 | by ( Clement Tan | ) www.cnbc.com time to read: +5 min

3D render Da-kuk | E+ | Getty ImagesJapan is stepping up efforts to ensure its listed companies become more efficient with capital allocation and increase shareholder returns this year. "It's not just the Tokyo stock exchange, but the entire Japan government is pushing for better corporate governance right now," said Toru Yoshikawa, a business professor at Waseda University in Tokyo. watch nowWith this move, the onus also falls on Japan's government to ensure steady and reliable returns from Japan's companies. Corporate governance pushMonday's disclosures will be based on information as of December and the releases will be a monthly affair. "If rival companies are doing great improvements in corporate governance, others will tend to follow that move."

Persons: It's, Toru Yoshikawa, Fumio, Yoshikawa, Warren Buffet, Yunosuke Ikeda, Goldman Organizations: Getty, Japan, TSE, Waseda University, The Tokyo Stock Exchange, kickstarted, Japan Inc, Nippon, Savings, Corporate, Tokyo Stock Exchange, CNBC, Toyota, Goldman Sachs Locations: Japan, Tokyo, Denso, Goldman Sachs Japan

☆ Nintendo is expected to launch the 'Switch 2' console this year. Here's what to expect
▼ + stars: | 2024-01-08 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Splatoon 3 proved to be a hit in Japan, helping keep momentum for Nintendo's ageing Switch console. Nintendo has sold 132.46 million units of the Switch, making it the company's second-most successful console after the handheld Nintendo DS. If the Switch remained popular in the holiday quarter then Nintendo could push a new console out to the Fall of this year, Goyal said. If Switch sales dropped in the December quarter, the new device could come as early as Spring or Summer, he added. Kantan Games' Toto said he expects the successor to be a "new device and not just an upgrade."

Persons: Philip Fong, Mario, Zelda, Serkan Toto, Piers Harding, Atul Goyal, Goyal, I'm, Nintendo's, Harding, Rolls, Toto, Moffett Nathanson, Will Organizations: Nintendo, AFP, Getty, CNBC, Kantan Games, Ampere, Jefferies, Mario Bros, Moffett Locations: Japan, Tokyo

☆ AI, wearables and more — these markets are booming as the world ages. The pros share 4 stock picks
▼ + stars: | 2023-12-27 | by ( Weizhen Tan | ) www.cnbc.com time to read: +6 min

"The aging population discussion in recent years has mostly revolved around future challenges to labor productivity and its economic growth implications," he said. AI, robotics and wearables The aging population stands to gain significantly from breakthroughs in robotics powered by artificial intelligence, according to Afzal. Arelis Agosto, research analyst at Global X ETFs, said wearables technology is one interesting area to invest in for the aging theme. "We view self-sustaining monitoring and therapeutic systems as the future of patient care, though it is particularly beneficial for elderly patients," Agosto said. Global X ETFs, a fund management company, offers a way to tap the aging theme through its Aging Population ETF.

Persons: Shams Afzal, There's, Afzal, Stryker, Dani Saurymper, Saurymper, Arelis Agosto, Agosto Organizations: Carnegie Investment, CNBC Pro, Stryker, EU, Longevity, Global, Carnegie, Abbott Laboratories, Agosto Locations: U.S, GLP, Agosto

Signage is seen for British utility company Thames Water at a repair site in London, Britain, June 28, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsLONDON, Dec 5 (Reuters) - Thames Water, Britain's biggest water utility, is proceeding with a three-year turnaround plan, it said on Tuesday, adding it had a high level of liquidity and the support of investors, as it seeks to ease concern over its financial stability. Thames Water's environment record has also come under scrutiny. "Our shareholders support this much needed investment, underscoring their commitment to delivering Thames' turnaround." Robert Goodwill, chairman of Britain's environment, food and rural affairs committee, said that he may need to ask Thames Water bosses further questions.

Persons: Toby Melville, Cathryn Ross, Alastair Cochran, Robert Goodwill, Sarah Young, Kate Holton, Barbara Lewis Organizations: Thames, REUTERS, Media, Thames Water, Ontario, China Investment Corp, Thomson Locations: London, Britain, Thames

☆ Private equity double-dips are a tasty faux pas
▼ + stars: | 2023-12-04 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

Private equity groups are trying something similar in the capital markets: successfully listing a company, then coming back for a second bite by buying it back once its stock craters. Take Synlab (SYAB.DE), listed at the height of a Covid-19 boom in testing by investment group Cinven. European companies listed by private equity groups since 2020 are trading, on average, at a 22% discount to their IPO price, according to data from Dealogic and Breakingviews calculations. The message from such deals, however, is that it’s better to buy a private equity-owned company after it has listed. Follow @aimeedonnellan on XCONTEXT NEWSPrivate equity firm Cinven on Sept. 29 offered 10 euros a share to take Covid test maker Synlab private.

Persons: Russell Boyce, Synlab, Cinven’s, Cinven, Sweden’s, Dr Martens, Elliott, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Revenue, Thomson Locations: London, Britain, Cinven, France, Dealogic, Permira, Synlab

☆ Tiger Woods’ comeback at the Hero World Challenge proves he’s not ready to ‘sail off into the sunset’
▼ + stars: | 2023-12-04 | by ( George Ramsay | ) edition.cnn.com time to read: +4 min

CNN —Most athletes with an injury list as long and detailed as Tiger Woods would be retired from professional sport. The 15-time major champion’s much-anticipated return to professional golf at the Hero World Challenge in the Bahamas wasn’t perfect, nor was it ever likely to be. This will be the fourth time in a row that Woods has entered the event alongside his son Charlie and his second tournament since undergoing ankle surgery in April. I don’t see why that would change.”During the Hero World Challenge, which Woods hosts, he said that he had been “pleasantly surprised” with his physical recovery between rounds. Woods and winner Scottie Scheffler attend the trophy presentation at the Hero World Challenge.

Persons: Woods, ” Woods, –, Charlie, Scottie Scheffler, Mike Ehrmann, ” Scottie Scheffler, ”, Scheffler Organizations: CNN, Albany Golf Club, Golf Channel, PNC, PGA, Masters, Woods, Augusta National Locations: Bahamas, Orlando , Florida, Paris

☆ Toyota says it halts some Tianjin operations after report of weak sales
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] A sign is seen outside a Tianjin Faw Toyota Motor Co. Ltd showroom, a joint venture between China's Tianjin FAW Xiali Automobile Co Ltd and Japan's automaker Toyota Motor Corp, in central Beijing October 9, 2012. The production halt at the Tianjin venture with China's FAW was a planned move, and Toyota is adjusting production based on "changes in the composition of vehicle models", a spokesperson said by email. Japan's Jiji news service said on Friday the world's largest automaker by sales was suspending some production as part of a major production adjustment in response to weak sales of gasoline-engine cars. Reuters reported last month that Toyota had told dealers it would extend a plan to reduce output at the FAW venture. Slowing sales pose a growing challenge to Toyota in China which accounted for nearly a fifth of Toyota's worldwide sales of about 8.5 million vehicles over the first 10 months of the year, including sales of its luxury Lexus brand.

Persons: David Gray, David Kirton, Brenda Goh Organizations: Tianjin Faw Toyota Motor Co, China's Tianjin FAW Xiali Automobile Co Ltd, Japan's, Toyota Motor Corp, REUTERS, Rights, Toyota, China's FAW, FAW, Reuters, Lexus, Thomson Locations: Beijing, Rights SHENZHEN, China, Tianjin, Shenzhen, Shanghai

☆ New billionaires getting rich via inheritance rather than entrepreneurship in 'great wealth transfer'
▼ + stars: | 2023-11-30 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

A new wave of billionaires acquired more wealth through inheritance than entrepreneurship during the last year as a "great wealth transfer" picks up steam, a new report by UBS found. Fifty-three heirs received a total of $150.8 billion, which is higher than the $140.7 billion brought in by 84 new self-made billionaires, the report shows. "The great wealth transfer is gaining significant momentum," Benjamin Cavalli, head of UBS global wealth management strategic clients, told reporters in a briefing on Wednesday. Overall billionaire wealth is recovering, with the number of billionaires being up by 7% in the 12 months to early April of 2023, the UBS analysis showed. Billionaire wealth rose by 9% in this time and ended at around $12 trillion in nominal terms.

Persons: Benjamin Cavalli Organizations: UBS Locations: South Dock, Wharf, London, United Kingdom

☆ China’s Xi Jinping visits financial hub Shanghai as Chinese economy sputters
▼ + stars: | 2023-11-30 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese leader Xi Jinping has visited Shanghai for the first time in three years, as his government steps up efforts to prop up the country’s economy and financial markets. The visit, his first since 2020, comes as business confidence wanes in China and foreign companies pull out of the country. “General Secretary Xi Jinping’s visit to Shanghai sends important signals at a critical moment,” an editorial by Xinhua said Thursday. “Shanghai must be a vanguard of the country’s reform and opening up and a pioneer in its tech innovation and development,” Xi was quoted as saying by Xinhua. Earlier this month, Xi visited the United States for the first time in more than six years, where he met with President Joe Biden to amend ties between the two countries.

Persons: Xi Jinping, Xi, Lifeng, Cai Qi, Xi Jinping’s, ” Xi, Joe Biden Organizations: Hong Kong CNN, Shanghai Futures Exchange, Xinhua News Agency, PMI, Xinhua, “ Finance Locations: Hong Kong, Shanghai, China, Beijing, United States

☆ Global growth to slow but avoid a hard landing -OECD
▼ + stars: | 2023-11-29 | by ( Leigh Thomas | ) www.reuters.com time to read: +3 min

Growth in advanced economies that make up the OECD's 38 members was seen headed for a soft landing, with the United States holding up better than expected so far. "Our central projections are for a soft landing, but that cannot be taken for granted," OECD chief economist Clare Lombardelli told a news conference. "Monetary policy needs careful calibration to bring inflation to targets while minimising the impact on growth. The OECD forecast U.S. growth would slow from 2.4% this year to 1.5% next year, revising up its estimates from September when it predicted U.S. growth of 2.2% in 2023 and 1.3% in 2024. Its growth was seen easing from 5.2% this year to 4.7% in 2024 - both marginally higher than expected in September - before slowing further in 2025 to 4.2%, the OECD forecast.

Persons: Vincent Alban, Clare Lombardelli, Lombardelli, Leigh Thomas, Christina Fincher, Catherine Evans Organizations: Shoppers, REUTERS, Rights, Organisation for Economic Cooperation, Development, OECD, Thomson Locations: Chicago , Illinois, U.S, Paris, United States, Germany, Japan

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