China rations electricity as heat wave suspends factories

Placeholder while loading article actions BEIJING – China’s worst heat wave in six decades has deepened the heat wave Economic pain From the pandemic lockdowns, authorities this week ordered factories to suspend production in several key manufacturing areas to conserve electricity. Sichuan Province, home to more than 80 million people, announced Monday that factories in … Read more

Live updates open to close, earnings, data

Delivery Hero stock rose 12% amid rosy expectations for the third quarter shares Delivery Champion It rose more than 12% late in the morning in Europe after the German online takeaway company offered an optimistic forecast for the third quarter, while confirming its preliminary numbers for the second quarter. The company expects gross merchandise value … Read more

China cuts holdings of US Treasuries for the seventh month

The US and Chinese flags are seen in front of a US dollar banknote featuring US Founding Father Benjamin Franklin and Chinese yuan banknotes show late Chinese Chairman Mao Zedong in this illustrative photo taken on May 20, 2019. REUTERS/Jason Lee/Illustration Register now to get free unlimited access to Reuters.com Register NEW YORK (Reuters) – … Read more

In the money market – the housing market is showing signs of weakness

Homebuilding sentiment continues to decline as demand for homes is affected by higher prices and interest rates. We’ll also look at Biden’s upcoming signing of the Inflation Cut Act, more predictions on gas prices, and the partisan battle over additional funding for the IRS. But first, learn more about FBI threats on the rise After … Read more

Bounce off the brink

As the economic crisis caused by Covid-19 affects the tech world globally, the startup scene in Pakistan has also faced the brunt. The global capital market has experienced a major downturn. It was the working class that took the first hit. Pakistan is not an anomaly but what makes it seem unexpected is the fact … Read more