Author: Karen Canavan

China's economy failed to reach its quarterly growth rate of 6% in over two years, before the effects of an ongoing nationwide lockdown weakened the country's economy. Gross domestic product in the world's second-largest economy expanded by just 0.4 percent during the quarter that ended on June 30, 2019, according to the National Bureau of Statistics (NBS). China's economy grew slower than expected in the second quarter of 2021, with its Gross Domestic Product up 4.8% from the same time a year ago. That was sharply lower than the 4.8% increase it registered in the previous quarter and far below the 1% growth estimated by economists in a Reuters poll. On a quarterly basis, GDP shrank 2.6%. It was the weakest performance since the first quarter of 2020, when China's economy came to a nea...

Bill Gates is transferring $20 billion of his wealth to the Bill and Melinda Gates Foundation, which is ramping up its spending in the face of global challenges, including the pandemic and the conflict in Ukraine. The Bill and Melinda Gates Foundation, one of the world's largest philanthropies, plans to increase its annual payouts by 50% over pre-pandemic levels. The foundation is focused on charitable giving that aims to improve global health, gender equality, and education. The Microsoft co-founder and his ex-wife have both pledged to donate the vast majority of their wealth to the foundation they established together 20 years ago as well as other philanthropic endeavors. The couple announced their divorce in May 2021, saying they would work together as co-chairs under a ...

The still-strong economy has yet to shake off the effects of recession fears, though investors and the Federal Reserve will be closely reading the details of Friday’s job numbers for any indications that a recession is developing. The month to month government work depiction from the Bureau of Labor Statistics is supposed to show proceeded with strength - - more modest, yet at the same time critical, work gains of around 272,700 and a joblessness rate holding at 3.6%, as per gauges from Refinitiv. The report is coming closely following a hodgepodge of late work information: The most recent Job Openings and Labor Turnover Survey, delivered on Wednesday, displayed there were 11.3 million employment opportunities in May, or 1.9 situations for each occupation searcher, and generally low...

At Monday's talks, the United States and China examined large challenges facing the global economy amid growing speculation that some Trump-era tariffs might be cancelled in order to minimize inflation and encourage growth. US Treasury Secretary Janet Yellen and Vice Premier Liu He of the People's Republic of China had a "substantive conversation" over the phone, according to a pledge by the US Treasury. The reactions of each country arrested by the investigations have been seen as "candid" and as Business Insider and The Bloomberg and Wall Street Journal report that the Biden administration may lift some tariffs previously imposed on Chinese goods as soon as this week. The Chinese readout noticed that the trade was "helpful" and "sober minded." It added that the dif...

Plans to create a media company for former President Donald Trump have appeared to run into another snag. Digital World Acquisition Corp., the SPAC that agreed to merge with Trump Media & Technology Group, said in a regulatory filing Monday that its board members had received subpoenas from a federal grand jury in the Southern District of New York related to due diligence on the deal. Portions of the unlimited free pass organization plunged almost 10% on the news Monday. The stock has now lost the greater part its worth this year, adding to questions about the consolidation going through. The Securities and Exchange Commission has proactively summoned Digital World itself mentioning comparative data. Computerized World likewise declared in the SEC document...