There's a reason why the word "pretty" is in the title!
The recent oil price spike fueled by rising Middle East tensions has the potential to derail the IMF's "relatively good" outlook for the world economy, its chief economist told AFP. "We are projecting a global economy that is quite resilient for 2024," Pierre-Olivier Gourinchas said in an interview ahead of the publication of the International Monetary Fund's World Economic Outlook (WEO) report on Tuesday. "China is another example where you see an economy that is operating below potential," Gou
China's economy expanded far more than expected in the first quarter of 2024, data showed Tuesday, but disappointing retail and industrial figures suggested leaders face severe headwinds to hit their annual growth target.Reflecting those difficulties, last month also saw a fall in property prices in China's major cities, data showed.
UnitedHealth Group trounced first-quarter expectations even as costs from a cyberattack to its Change Healthcare business ate into the company’s performance. UnitedHealth said earlier this year that a ransomware group had gained access to some of the systems of its Change Healthcare business, which provides technology used to submit and process insurance claims. UnitedHealth is still restoring several services from the February attack.
Israeli tanks pushed back into some areas of the northern Gaza Strip on Tuesday which they had left weeks ago, while warplanes conducted air strikes on Rafah, the Palestinians' last refuge in the south of the territory, killing and wounding several people, medics and residents said. Residents reported an internet outage in the areas of Beit Hanoun and Jabalia in northern Gaza. Tanks advanced into Beit Hanoun and surrounded some schools where displaced families have taken refuge, said the residents and media outlets of the militant Palestinian group Hamas.
Chip startup Rivos said on Tuesday it raised $250 million in a funding round that will enable it to manufacture its first server chip geared for artificial intelligence. Nvidia's combination of chips and CUDA software dominates the market for AI-related computing, and Nvidia gobbled up more than 80% market share of AI chips in 2023.
The global economy is set for another year of slow but steady growth, the International Monetary Fund said on Tuesday, with U.S. strength pushing world output through headwinds from lingering high inflation, weak demand in China and Europe, and spillovers from two regional wars. The IMF forecast global real GDP growth of 3.2% for 2024 and 2025 - the same rate as in 2023. The 2024 forecast was revised upward by 0.1 percentage point from the previous World Economic Outlook's estimate in January, largely due to a significant upward revision in the U.S. outlook.
Day 1 of Trump’s criminal trial featured haggling over what salacious evidence could be shown to the jury — which could take days or even weeks to be seated.
A Muslim student who wanted to pray during lunchtime lost a court fight Tuesday against a strict London school that had banned prayer on campus. “She knew that the school is secular and her own evidence is that her mother wished her to go there because it was known to be strict," Justice Thomas Linden wrote in an 83-page ruling. The fight was over a rule put in place last year by the Michaela Community School after a small group of students who began praying in the schoolyard caused divisions at the school that spread to the community and led to a bomb threat.
U.S. Patent and Trademark Office Director Kathi Vidal said on Tuesday that intellectual property rights (IPR) continue to be a main concern for U.S. businesses in China, and they face significant challenges with infringement. "Whether it's insufficient deterrence for infringement, challenges to pharmaceutical related patents, or the misappropriation of trade secrets, intellectual property rights protection and enforcement remain a key issue of concern in the U.S.-China bilateral relationship," Vidal said at an event with attendees from the U.S. business community and legal fields in Beijing. Vidal said the issue harms U.S. firms and workers, and that it is a concern not just held by U.S. companies, but by other nations as well.
North Korea is putting surveillance cameras in schools and workplaces and collecting fingerprints, photographs and other biometric information from its citizens in a technology-driven push to monitor its population even more closely, a report said Tuesday. The state's growing use of digital surveillance tools, which combine equipment imported from China with domestically developed software, threatens to erase many of the small spaces North Koreans have left to engage in private business activities, access foreign media and secretly criticize their government, the researchers wrote.
Ozempic being used as a treatment for eating disorders is a faulty short-term solution for a much bigger problem.
The International Monetary Fund has upgraded its outlook for the global economy this year, saying the world appears headed for a “soft landing” — reining in inflation without much economic pain and producing steady if modest growth. The IMF now envisions 3.2% worldwide expansion this year, up a tick from the 3.1% it had predicted in January and matching 2023's pace. In its latest outlook, the IMF, a 190-country lending organization, notes that the global expansion is being powered by unexpectedly strong growth in the United States, the world's largest economy.
Jury selection is expected to continue Tuesday morning in the case of the People of the State of New York v. Donald Trump — the first criminal trial of a former president ever.
As the USS George Washington reeled from a spate of suicides two years ago, Navy leaders reacted with anger and denial while discussing news coverage of the deaths and whether to promote the sailors posthumously, according to emails obtained by NBC News.
The Supreme Court weighs whether Jan. 6 rioters can be charged with obstructing an official proceeding, which could bear on Trump's election interference case.
Global central banks will begin cutting interest rates in the second half of the year as inflation declines, according to a new outlook from the IMF.
Voters in Michigan will head to the polls Tuesday for a pair of state House special elections that will determine partisan control of the chamber.
Brussels authorities on Tuesday ordered the shutdown of a controversial gathering of hard-right European politicians, after it was targeted by online protesters and bumped from its first two choices of venue.The event was moved last-minute to a hotel in Brussels' European quarter -- but that too changed its mind on Monday night, apparently fearing disruption from the gathering.
Maine is the newest frontier for the illicit marijuana trade, with potentially hundreds of suspected unlicensed grow houses operating in the state.
When Iran attacked Israel at the weekend, Jordan intercepted multiple missiles and drones, but King Abdullah II has stressed his country must not become "the theatre of a regional war".- 'A major concern' - King Abdullah, in a phone call with US President Joe Biden on Sunday, called for de-escalation and stressed that Jordan "will not be the theatre of a regional war".
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