Economy

The Norges Bank, Norway’s central bank, in Oslo, Norway, on Tuesday, Oct. 17, 2023. Bloomberg | Bloomberg | Getty Images Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust returns on its investments in technology stocks. The so-called Government Pension Fund Global — the […]

Swiss banking giant UBS on Wednesday smashed net profit expectations for the second quarter, amid cost-cutting steps and swelling revenue at the lender’s global wealth management and investment bank units. Net profit attributable to shareholders came in at $1.136 billion for the period, versus a company-compiled consensus forecast of $528 million. Profit was nonetheless lower […]

China is expected to see a record-level of passenger air travel in 2024, according to the Civil Aviation Administration of China. All Copyrights Belong To Jingying Zhao | Moment | Getty Images China is expecting air passenger travel to hit a record in 2024, bouncing past pre-pandemic levels. Passenger flights may reach 700 million this year […]

Elon Musk (L) and Donald Trump (R). David Swanson | Vincent Alban | Reuters Elon Musk’s much-hyped interview of former President Donald Trump on the social media platform X was nearly derailed early on by technical glitches in the first minutes of the scheduled start time on Monday evening. Users trying to log on to […]

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 14, 2024. REUTERS/Brendan McDermid Brendan Mcdermid | Reuters Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it […]

In the 1980s, Japan was the dominant player in the semiconductor market. But huge shifts in the way the chip supply chain operated eroded that leading-edge. Countries like Taiwan with TSMC the world’s largest and most advanced semiconductor manufacturer, began to dominate in the production of chips. The U.S. is key in areas like design. […]

CNBC’s Jim Cramer on Monday said a variety of companies, to their detriment, won’t admit they’re hurting due to certain ongoing economic trends. “If companies would just own up to their changing circumstances, things would be so much easier for everybody. But who wants to admit that they made mistakes?” he asked. “If they’d just […]

SpaceX’s Starship launches its fourth flight test from the company’s Boca Chica launchpad, designed to eventually send astronauts to the moon and beyond, near Brownsville, Texas, U.S. , in this handout picture obtained on June 6, 2024. Spacex | Via Reuters Elon Musk’s SpaceX violated environmental regulations by repeatedly releasing pollutants into or near bodies […]

China’s Premier Li Qiang waves as he walks back with German Chancellor Olaf Scholz.John Macdougall | Afp | Getty ImagesEurope is charting a new way forward for its relations with China, but officials in the region say they are wary about the risk of retaliation if they get it wrong.There has been growing momentum behind… […]

CNBC’s Jim Cramer gave investors his game plan for the week ahead, with big names such as Nike and Walgreens set to report.”It’s an important week, not to be minimized, as we make our way to July for an employment report, a Fed meeting and a parade of earnings, all care of an upcoming calendar change,”… […]