On a street corner in the Sudanese town of Tamboul, dozens of people tap feverishly on their phones, calling loved ones and moving money through online apps. The banking system has collapsed and millions can now access money only via the Bank of Khartoum's app, Bankak.
Barry Callebaut, the world's biggest supplier of chocolate to the food industry, said Wednesday that the surge in global cocoa prices had chipped away at profits. "Food manufacturers continued to be impacted by soft consumer demand in the context of the high-inflationary environment," Barry Callebaut said in a statement.
With the flow of new recruits into the seafaring sector drying up, a German company is exploring a potentially revolutionary measure -- sending ships off without a captain on board. In the initial test phase, two captains will remain on board the remotely guided ships.
Ratings agency Fitch said Wednesday it had downgraded China's sovereign credit outlook to negative, citing increased risks to the country's public finances, in a move Beijing swiftly called "regrettable". Fitch said its outlook revision "reflects increasing risks to China's public finance outlook" as the country "contends with more uncertain economic prospects".
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