Croatia was counting the last hours Saturday before switching to the euro and entering Europe's passport-free zone -- two milestone steps for the country since joining the EU nearly a decade ago.. It will also be the 27th nation in the passport-free Schengen zone, the world's largest, which enables more than 400 million people to move freely around its members.
China's manufacturing activity contracted sharply in December for the third month in a row, according to official figures released Saturday, despite Beijing's loosening of Covid restrictions at the beginning of the month.. On December 7, Beijing abruptly loosened pandemic restrictions, but despite that, the country is still struggling to recover due to a surge in Covid cases.
Tesla lost a staggering two-thirds of its market value in 2022, a victim of fears about demand for electric vehicles, dismay at Elon Musk's tribulations as head of Twitter and the end of easy money on Wall Street.. But to some analysts, the problems at Tesla are more serious and unrelated to Twitter -- mainly because the days where it was the sole player on the electric vehicle market are over.
Wall Street is headed for its worst showing in years as US stocks slumped Friday, ready to end a "terrible year" shaken by inflation and aggressive responses to rein in costs.. It has been "a terrible year," Stovall said.
Sweden takes over the EU's rotating presidency from January 1 vowing to maintain unity on Ukraine and uphold free trade in the face of calls for a tougher response to US green subsidies. . On issues of substance, Sweden is looking to relaunch negotiations for free trade agreements with a string of countries and regions.
Chinese tech giant Huawei said on Friday it had returned to "business as usual" despite US sanctions as it estimated annual revenues to remain flat for 2022.. The company estimated annual revenue for 2022 at 636.9 billion yuan ($92 billion), up only slightly from the 636.8 billion yuan in 2021.
Indian tycoon Gautam Adani on Friday secured a majority stake in leading news broadcaster NDTV, finalising a hostile takeover that has sparked press freedom fears in the world's biggest democracy.. The latest purchase gives Adani's conglomerate a 64.71 percent stake in NDTV, renowned for inviting government critics and its hard-hitting reporting in a TV news landscape dominated by pro-Modi coverage.
Britain's cost-of-living crisis has turned into a bitter winter in households trying to keep their energy bills down: Some lecture flatmates for keeping the lights on.. That has helped push inflation to the highest level in four decades, in turn creating a cost-of-living crisis as wages fail to keep pace, despite the government's partial subsidy for fuel.
The growing pile of debt notices covering the Ankara district mayor's desk hint at the scale of the economic crisis facing Turkish voters months before crucial presidential polls.. If a debt hasn't been paid back after six month, we know we have to write it off."
Asia-Pacific stocks rose on Friday as a Wall Street rebound brought some cheer to the region's markets on the last trading day of the year.. Boosted by that optimism, the three main indexes on Wall Street ended higher on Thursday, and Asia-Pacific markets followed suit.
