Embattled Chinese property developer Shimao Group has been given a lifeline by a Hong Kong court, which adjourned a liquidation hearing until August 12. This decision gives Shimao more time to negotiate a revised restructuring …
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CNH Industrial Cuts Profit Forecast Again as Farm Equipment Demand Slows
CNH Industrial, a leading manufacturer of farm and construction equipment, has lowered its full-year profit forecast for the second time, citing slowing demand for its tractors and combines. The company now expects adjusted profit to …
Continue readingVenezuela in Crisis: Protests Erupt After Undemocratic Election, International Observers Condemn Vote
Venezuela is engulfed in turmoil following a disputed presidential election, with widespread protests erupting and international observers condemning the vote as undemocratic. Despite the opposition claiming a landslide victory based on 90% of the vote …
Continue readingBitcoin Drops 5% as US Government Sale Fears Overshadow Trump’s Crypto Support
Bitcoin’s price plunged 4.8% on Tuesday, erasing a weekend rebound driven by Donald Trump’s positive remarks on crypto regulation. Reports emerged that the US government moved $2 billion worth of seized Bitcoin, sparking concern over …
Continue readingKamala Harris Launches $50 Million Ad Blitz in Presidential Race
Democratic presidential candidate Kamala Harris has launched a $50 million advertising blitz, a significant investment meant to capitalize on her growing momentum against Republican rival Donald Trump. The campaign, featuring a one-minute ad titled “Fearless,” …
Continue readingBiden, Lula to Discuss Venezuela Election on Tuesday
Brazilian President Luiz Inacio Lula da Silva and U.S. President Joe Biden will speak on Tuesday in a phone call focusing on the contested Venezuelan presidential election. The call, scheduled at 2:30 p.m. ET (1830 …
Continue readingItaly’s Economy Slows in Q2, Driven by Domestic Demand
Italy’s economic growth slowed to 0.2% in the second quarter of 2024, in line with forecasts. This marks a slight slowdown from the previous quarter’s 0.3% growth. Despite the deceleration, the Italian economy continues to …
Continue readingOPEC+ to Maintain Current Output Policy at August 1 Meeting
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are unlikely to make any changes to their current production policy at the upcoming Joint Ministerial Monitoring Committee (JMMC) meeting on …
Continue readingGerman Economy Shrinks in Q2, Raising Recession Concerns
Germany’s economy unexpectedly contracted in the second quarter of 2023, raising concerns about a potential recession. The country’s gross domestic product (GDP) declined by 0.1% compared to the previous three months, according to preliminary data …
Continue readingPakistan’s Inflation Expected to Ease Further in August
Pakistan’s finance ministry anticipates inflation to ease further in August, following a predicted range of 12%-13% in July. This forecast comes after inflation peaked at over 30% in 2023, slowing to 12.6% in June. The …
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