The OECD slightly raised its growth outlook for the world economy on Wednesday as inflation eases and China has dropped Covid restrictions, but it warned the recovery faces a "long road".. "The global economy is turning a corner but faces a long road ahead to attain strong and sustainable growth," OECD chief economist Clare Lombardelli wrote in the OECD's Economic Outlook.
Prime Minister Rishi Sunak flew in to Washington late Tuesday lobbying for Britain to take a lead role in regulating artificial intelligence, after a dire warning of the technology's existential dangers.. - 'Battlefield advantage' - En route to Washington, the prime minister announced cumulative US investment of more than £14 billion ($17 billion) into Britain -- although some of that has already been deployed.
China's exports fell in May for the first time since February, data showed Wednesday, breaking a two-month growth streak as a post-Covid rebound faded and adding to speculation that officials will unveil fresh stimulus measures.. The country is also grappling with a new Covid-19 outbreak, but official data on the scale of it is scarce and there is little sign that containment policies will be reimposed.
Most markets crawled higher Wednesday on speculation that China will unveil measures to support its struggling economy, while investors held out hope the Federal Reserve will skip an interest rate hike this month.. Analysts said such a move could indicate the People's Bank of China was considering an interest rate cut as soon as this month.
In their second major action against a big crypto player in two days, US regulators sued Coinbase on Tuesday, alleging its failure to register as a securities exchange venue exposed investors to risk.. Filing a complaint in federal court, the SEC said Coinbase's failure to register as a securities exchange "has deprived investors of significant protections, including inspection by the SEC, record-keeping requirements, and safeguards against conflicts of interest, among others."
Vietnam's booming food scene was awarded its first ever Michelin stars Tuesday, with four restaurants selected by the prestigious dining guide.. Gwendal Poullennec, international director of the Michelin Guide, said Vietnam's two biggest cities, Hanoi and commercial centre Ho Chi Minh City, offered a vibrant and varied dining experience.
Streaming platform Apple TV+ on Tuesday announced a four-part documentary series on Argentina's World Cup-winning captain Lionel Messi.. "In his own words, Messi tells the definitive story of his incredible career with the Argentina national football team, providing an intimate and unprecedented look at his quest for a legacy-defining World Cup victory," Apple TV+ said in a statement.
A European spy agency told the CIA it knew of a Ukraine special operations team plan to blow up the Nord Stream gas pipeline three months before explosions damaged the undersea system last year, the Washington Post reported Tuesday.. The leaked documents indicated that an unnamed European intelligence body told the US spy agency in June 2022, four months after Russia invaded Ukraine, that Ukraine military divers reporting directly to the country's military commander-in-chief were planning the attack.
US securities regulators sued Coinbase on Tuesday, alleging that the cryptocurrency platform's failure to register as a securities exchange venue exposed investors to risk.. In the absence of congressional action, the US regulator has stepped up its oversight of cryptocurrency, an approach that Coinbase slammed on Tuesday.
Tech giant Apple has unveiled its first major product in more than seven years, a mixed-reality headset that might just deliver a terminal blow to the "metaverse".. Meta's Reality Labs, the division helming its metaverse effort, has lost $4 billion so far and company chief Mark Zuckerberg has been increasingly talking up artificial intelligence rather than the metaverse.
