The International Monetary Fund is upgrading its economic outlook this year for China, India and Europe while modestly lowering expectations for the United States and Japan. But it says worldwide progress against accelerating prices has been slowed by stickier-than-expected inflation for services, from airline travel to restaurant meals. Overall, the IMF said that it still expects the world economy to grow a lackluster 3.2 per cent this year, unchanged from its previous forecast in April and down a tick from 3.3 per cent growth in 2023. From 2000 through 2019, before the pandemic upended economic activity, global growth had averaged 3.8 per cent a year.
Business & Economics
Govt flags e-commerce risk to 100 million retailers
Unfettered growth of e-commerce in India may cause “huge social disruption”, impacting the livelihood of 100 million small retailers across the country, Union commerce and industry minister Piyush Goyal said on Wednesday, August 21, accusing […]
Business & Economics
Some federal workers may not get back pay after shutdown
Washington (TIP)- The Trump administration is warning federal workers furloughed in the government shutdown that they may not get back pay once the funding impasse ends, which some lawmakers are decrying as illegal. A memo […]
Business & Economics
Amazon to invest up to $25 billion in Anthropic to deepen their AI ties
Seattle (TIP): Amazon.com Inc. is investing an additional $5 billion in Anthropic PBC, and may inject $20 billion more over time, a deal that deepens the companies’ ties in an increasingly competitive AI industry. Anthropic, […]
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