Author: Press Room

Greetings from Washington, where the cherry blossoms are blooming, the skies are clear — and the IMF and World Bank are holding their spring meetings this week. It would be nice to think that the cheery weather reflects the global economic outlook. But the IMF has already warned of cloudier economic times ahead.And this year’s discussion could be sombre: the world’s poorest countries are ailing, defaults are rising, the UN’s sustainable development agenda has been set back and progress on limiting carbon emissions is patchy, notwithstanding the UN’s recent, strong warning that time is running out to avert a global…

Amid many pressing political duties, the Biden administration will make time today for an annual tradition dating to the 1870s: the White House Easter Egg Roll. About 30,000 visitors are expected to converge on the South Lawn for family-friendly activities centered around the theme of “EGGucation.” Here’s what else you need to know to Get Up to Speed and On with Your Day. (You can get “CNN’s 5 Things” delivered to your inbox daily. Sign up here.) The Department of Justice has opened an investigation into the leaks of a trove of apparent US intelligence documents that were posted on…

Tesla Tesla is executing on its “Master Plan 3” faster than some might expect. Elon Musk’s electric-vehicle company is planning to build a new “megapack” factory in Shanghai to boost production of its batteries for utility-scale storage applications. “Our next Megafactory will be in Shanghai—capable of producing 10,000 Megapacks per year,” Tesla (ticker: TSLA) said in a tweet Sunday. Megapacks are batteries that utilities can use to store some electricity generated by renewable power assets such as wind turbines and solar arrays. Batteries can increase the reliability of renewable power generation assets, reducing the need to have generating capacity from…

Hello! This week’s ETF Wrap shines the light on gold ETFs, which are outperforming the S&P 500 so far this year. Will gold rally when the Fed eventually pauses its rate hikes?Please send feedback and tips to [email protected]. You can also follow me on Twitter at @cidzelis and find me on LinkedIn. There’s been a bit of a gold rush lately. Investors added almost $521 million into SPDR Gold Shares GLD, -0.71% over the past week through Wednesday, according to FactSet data. And on March 13, investors poured $709 million into the fund, the biggest daily inflows since April 2022, FactSet data show.…

Are you less happy at work since you befriended that new recruit? Have they told you stories about how colleagues have constantly undermined them? Maybe you have a boss who excludes you from key meetings and then asks why you did not attend a meeting even though you are pretty sure you were not invited to begin with. If any of this rings true, you may be working with a gaslighter.Gaslighters, as the name suggests, cast themselves in a positive light — friend or confidante who is here to help — but actually are manipulating or undermining others, usually from…

Supreme Court Justice Clarence Thomas has reportedly been accepting lavish gifts from Republican megadonor Harlan Crow for decades without disclosing those gifts, according to a report Wednesday from ProPublica.Thomas, 74, has reportedly vacationed on Crow’s 162-foot superyacht, used Crow’s private plane and spent time at luxury retreats owned by the wealthy developer. Thomas, who is viewed as one of the most conservative justices on the Supreme Court, was nominated to the court by President George H. W. Bush in 1991. He is the longest-serving current justice. The following are four key facts about Harlan Crow.Crow has given gifts to Justice Thomas and…

© Reuters. FILE PHOTO: Airbus A321XLR is being prepared before take-off for its maiden flight at Hamburg-Finkenwerder Airport, Germany, June 15, 2022. Picture taken through glass. REUTERS/Fabian Bimmer (Reuters) – Icelandair Group HF said on Friday it signed a provisional deal to purchase 13 of European planemaker Airbus SE (OTC:)’s latest A321XLR single-aisle jet, with deliveries slated to begin in 2029. As part of the deal, Icelandair has an option to purchase an additional 12 aircraft after buying 13 of Airbus’ newest and largest narrowbody airliner at an undisclosed price. Icelandair, however, said it plans to start using the world’s…

By Ambar Warrick Investing.com — Gold prices fell slightly on Tuesday after rallying back to key levels in the prior session as markets considered the potential for more economic turmoil this year amid a manufacturing slowdown and rising fuel costs. The yellow metal saw a resurgence in safe haven demand on Monday after a string of weak manufacturing readings from the world’s largest economies, which could herald a potential economic slowdown later this year. Market was also caught off guard by a surprise output cut by the Organization of Petroleum Exporting Countries and allies (OPEC+), which is likely to result…

By Patrick Werr CAIRO (Reuters) – The Egyptian pound lost ground on the black market again in recent days in a sign that halving its official value over the past year could still not be enough and the central bank may have to let it slide further. Despite its pledge in October to allow supply and demand determine exchange rates, the central bank has been managing the currency in a tight band that has remained virtually unchanged at around 30.80/90 to the dollar for three weeks while the pound has slid to between 35 and 36 in the black market.…

By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain at around 3% for the next five years, Managing Director Kristalina Georgieva said on Thursday, flagging increased downside risks. That is the global lender’s lowest medium-term growth forecast since 1990, and well below the average growth of 3.8% seen in the past two decades. Georgieva said strong monetary and fiscal policy actions to respond to the COVID-19 pandemic and Russia’s invasion of Ukraine had prevented a much worse outcome in recent years, but growth prospects remained weak given…