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UK economy posts surprise growth in November: data
UK economy posts surprise growth in November: data
Business and Economy
by  AFP

Britain's economy unexpectedly grew in November, official data showed Friday, but it is widely tipped to enter recession this year as the country faces a cost-of-living crisis. "While the economy performed better than expected in November, the data can't mask the underlining problems in the UK economy," said economist Alpesh Paleja at the CBI business lobby.

China imports, exports plunge in December: customs
China imports, exports plunge in December: customs
Business and Economy
by  AFP

China's exports in December fell at their fastest pace since 2020, according to official data Friday, owing to a drop in global demand and after health restrictions hit economic activity at home. Exports had been the main driver of China's economy since 2020, when the global shutdown led to strong demand for Chinese goods such as medical products, and then as the rest of the world reopened.

Full brunt of financial tightening yet to materialize: IMF
Full brunt of financial tightening yet to materialize: IMF
Business and Economy
by  AFP

Countries have yet to see the full impact of tightening financial conditions, IMF chief Kristalina Georgieva said Thursday, warning that central banks have some way to go in their inflation battle. While tighter financial conditions will have a "dramatic" impact on countries with high debt levels, Georgieva said the IMF does not see a "systemic debt crisis on the horizon."

ExxonMobil dismissed own global warming forecast: study
ExxonMobil dismissed own global warming forecast: study
Business and Economy
by  AFP

ExxonMobil publicly downplayed climate change even though scientists for the oil giant had accurately predicted global warming from fossil fuels as far back as the late 1970s, according to a study published on Thursday. "It isn't as if we could just turn around and say, 'ExxonMobil stop producing fossil fuels,' and then we'd solve the problem," Schmidt said.