Fragmentation could cost global economy up to 7% of GDP: IMF
The note said that the global flows of goods and capital had leveled off after the global financial crisis of 2008-2009, and a surge in trade restrictions seen in subsequent years.
Economy
As World Economic Forum begins, Oxfam urges for windfall tax on food companies
That’s one of the ideas in a report by Oxfam International, which has sought for a decade to highlight inequality at the conclave of political and business elites in Davos.
Some firms are offering unlimited time off for employees. Will it work? What experts say
Experts say such policies could risk pushing employees to take fewer vacation days in fear that their employer might perceive them as not valuing work enough.
Iran oil exports end 2022 at a high despite sanctions
Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite US sanctions, according to companies that track the flows.
Tesla slashes global prices, challenging rivals after missing delivery estimate
Tesla has slashed prices globally on its electric vehicles by as much as 20%, extending an aggressive discounting effort and challenging rivals.
Energy bills in Canada not expected to fall much in 2023. Maybe that’s a good thing, experts say
Energy prices in Europe have fallen as fears of a crisis ‘fuel’ energy conservation and reform. But experts say that won’t likely mean a sustained drop in energy prices in Canada.
China’s imports, exports plunge in warning sign for economy
Exports shrink 9.9 percent year-on-year in December, while imports decline 8.7 percent.
US states Wisconsin, North Carolina unveil TikTok bans
Moves come after US President Joe Biden signed law banning federal employees from using the app on government devices.
ExxonMobil predicted climate change while downplaying risk: Study
Texas, US-based company’s own scientists accurately predicted global warming as far back as the 1970s, study says.
IMF chief sees 2023 global growth forecast holding steady
IMF Managing Director Kristalina Georgieva says 2023 to be another "tough year" for the global economy.