In a concerning sign for the world’s second-largest economy, China’s retail sector exhibited a lackluster performance in August. The National Bureau of Statistics reported that retail sales grew by only 2.1% year-on-year, falling short of economists’ expectations of a 2.5% increase, as indicated by a Reuters poll. This marks a decline from July’s growth rate
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China’s economy, often heralded as a global powerhouse, is reportedly facing significant challenges as the growth momentum appears to be faltering. Recent data indicates a concerning trend in key sectors that contribute to the nation’s GDP, including industrial production, retail sales, and housing. This slowdown has raised urgent discussions among economists and policymakers regarding the
OpenAI, the leading entity in artificial intelligence development, is poised to undergo significant corporate restructuring as it prepares for a noteworthy $6.5 billion funding round. The company, initially established as a non-profit with humanitarian goals, is now faced with the complex reality of transforming into a profit-oriented venture. This shift raises important questions about its
In the realm of finance, few figures are as prominent—or as polarizing—as hedge fund legend John Paulson. Renowned for his audacious bet against the housing market during the 2008 financial crisis, Paulson has since carved a niche not only as a financial titan but also as a vocal supporter of former President Donald Trump. His
On Friday, the U.S. dollar experienced a significant decline against the Japanese yen, marking its lowest point of the year. This downturn was largely attributed to a resurgence in media reports regarding the possibility of a substantial Federal Reserve rate cut anticipated next week. The dollar dropped 1% to 140.36 yen, reflecting investor concerns and
In a groundbreaking announcement, the World Health Organization (WHO) has approved a vaccine developed by Bavarian Nordic to combat the spread of mpox, a disease that has increasingly affected several African nations. This prequalification by the WHO marks a vital milestone in the fight against infectious diseases, especially in regions that are particularly vulnerable to
As the world transitions towards renewable energy sources and electric vehicles (EVs), the importance of lithium has skyrocketed. The material is pivotal for the development of batteries, making it essential for meeting the increasing demands of the automotive and energy storage industries. In 2023, lithium consumption surged to approximately 180,000 metric tons, a notable increase
The film industry eagerly awaits the world premiere of Clint Eastwood’s latest directorial venture, “Juror #2,” set to culminate the 38th edition of the AFI Fest on October 27 at the illustrious TCL Chinese Theatre. The festival has long been a platform for Eastwood to debut his significant works, making this event a fitting continuation
In recent weeks, the energy sector has experienced a significant downturn, particularly in crude oil prices, which have hit their lowest levels since late 2021. This decline has been largely driven by a pervasive bearish sentiment in the market. Investors are increasingly concerned about waning demand due to a combination of economic uncertainties and shifts
The recent approval of a five-year labor agreement by American Airlines flight attendants signifies a pivotal moment not only for the airline but also for the aviation industry as a whole. With a striking 87% of voters endorsing this contract, the cabin crews are set to receive pay increases of up to 20.5%, effective from