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China slips into deflation as post-Covid recovery falters
China slips into deflation as post-Covid recovery falters
by  AFP

China slipped into deflation as consumer prices contracted last month for the first time in more than two years, official data showed Wednesday, as slowing domestic spending weighs on the country's post-Covid economic recovery. Meanwhile, the producer price index fell again in July by 4.4 percent, marking the 10th consecutive month of contraction.

WeWork warns it might go out of business
WeWork warns it might go out of business
by  AFP

Embattled office-sharing firm WeWork on Tuesday warned US regulators that it is worried about its survival. WeWork has lost billions of dollars during the first six months of this year, with macroeconomic conditions weakening demand for its shared office spaces, the company told regulators.

Australia's Commonwealth Bank posts record profit as rates rise
Australia's Commonwealth Bank posts record profit as rates rise
by  AFP

Australia's biggest lender Commonwealth Bank reported a record annual profit Wednesday as it raked in money from customers forced to pay higher interest rates. Net interest income rose 18 percent, said the bank, which is also Australia's biggest mortgage provider.

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