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OECD lifts 2024 growth forecasts, driven by US
The OECD raised its global economic growth forecast for 2024 on Thursday, driven by strong performances in the United States and emerging countries while Europe lags behind. Central banks worldwide raised interest rates in efforts to combat inflation, which rose after countries emerged from Covid lockdowns and soared further following Russia's assault on Ukraine in 2022.
Wind energy giant Vestas swings to loss, sees geopolitical headwinds
Vestas, the world's number one wind turbine maker, said Thursday it swung to a 75-million-euro ($80-million) loss in the first quarter and warned "geopolitical volatility" would continue to cause uncertainty. "In 2024, continued geopolitical volatility is expected to cause uncertainty.
Weight-loss drug maker Novo Nordisk's profits soar further
Danish pharmaceutical giant Novo Nordisk reported more soaring profits on Thursday thanks to the popularity of anti-diabetes and weight-loss drugs Ozempic and Wegovy, which have made it Europe's most valuable company. Novo Nordisk produces Ozempic, an injectable anti-diabetic treatment which has become popular on social networks for its reported slimming properties.
Shell logs sliding profits as revenues sink
British energy major Shell on Thursday posted sharply lower first-quarter net profit on sinking revenues, but adjusted earnings topped expectations and it unveiled another bumper stock buyback. The group unveiled a fresh $3.5-billion stock buyback and forecast capital expenditure this year would reach between $22 billion and $24 billion.
French govt to 'fight' TotalEnergies New York listing
France will "fight" to keep oil and gas giant TotalEnergies from shifting its main stock market listing to New York, French Finance Minister Bruno Le Maire said Thursday. "I'm here to make sure that doesn't happen," Le Maire told news channel BFM. "Is the overriding interest of the nation to keep Total's headquarters in France and its main stock market listing in France?
Microsoft announces $2.2 bn AI, cloud investment in Malaysia
Microsoft pledged a $2.2 billion investment in artificial intelligence and cloud computing in Malaysia on Thursday to help develop the country's AI infrastructure. The pledge comes after he announced a $1.7 bn investment in Indonesia, as well as Thailand's first data centre region this week to boost cloud and artificial intelligence infrastructure.
Yen slips after rallying on suspected intervention, stocks mixed
The yen weakened Thursday following another surge against the dollar that fuelled speculation Japanese authorities had intervened for a second time this week, after Federal Reserve boss Jerome Powell warned interest rates would stay higher for longer.
Evictions surge in Arizona with housing shortage and rising prices
Wearing a bulletproof vest and with a gun strapped to his waist, Constable Lennie McCloskey opens his folder and looks through the court orders: eleven evictions to be carried out today. But what he sees most nowadays is people who haven't been able to scrape together enough money to make the rent that month -- sufficient cause for a landlord to get a court ordered eviction.
13 years in US prison for Ukrainian REvil hacker
A Ukrainian man was sentenced to more than 13 years in prison in Texas on Wednesday for his role in ransomware attacks by the notorious Russia-based REvil hacking group, the US Justice Department said. Vasinskyi, also known as Rabotnik, was sentenced to 13 years and seven months in prison and ordered to pay $16 million in restitution for his involvement in more than 2,500 ransomware attacks.
AFP
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