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Goldman, Morgan Stanley raise China's 2024 growth outlook as exports rise

The world's second-largest economy has struggled to regain momentum as the property sector and consumer spending remain weak

Extreme heat in East Asia, Pacific putting millions of children at risk: UN

Warnings over more intense and frequent heat waves this summer are especially worrying in the region, as high humidity levels make it more difficult for the body to cool down naturally

McKinsey starts eliminating around 360 jobs as client demand slows

The firm has warned about 3,000 of its consultants that their performance was unsatisfactory and will need to improve

Gaza faces major cash shortage after war destroys banking system

Within weeks of Hamas's Oct. 7 attack that Israel says killed almost 1,200 people, Heba and her family were forced to flee south from their home in Gaza City to Rafah

Elon Musk's undisclosed Starlink costs undercut profitability claims

Closely held companies don't have to publicly release their financials and often massage their numbers while fundraising

US President Biden, Kishida enlist Amazon, Nvidia to fund AI research

The $50 million project will be a joint effort between the University of Washington in Seattle and Tsukuba University outside Tokyo, according to a senior US official

BMW EV sales surge in Q1 even as rivals struggle with weak demand

Customer deliveries of battery-powered models such as BMW's i4, iX1 and i7 jumped 41% in the three months through March compared to the same period last year, the company said Wednesday

Emerging from seclusion, Jack Ma voices support for overhaul at Alibaba

Ma, who's still revered by many of the company's 200,000-plus employees, struck a markedly more upbeat tone than just four months ago

BYD got €3.4 bn in aid from Chinese govt to dominate EVs, finds study

Aid for China's leading EV maker jumped from €220 million in 2020 to €2.1 billion only two years later, Germany's Kiel Institute for the World Economy said Wednesday

This Chinese cement producer's market value crashed 99% in 15 minutes

Tianrui's controlling shareholder Li Liufa and his spouse jointly own approximately 70% of the company, according to a filing in January

As India's GDP growth speeds up, can it drive the global economy?

With China's growth slowing, India could become the new engine of global economic growth, but it will take strategic investments, increased labour participation, and more to achieve its ambitions

Boeing took shortcuts for faster production of its 787s: Whistleblower

Salehpour, who according to his attorneys worked on the 787 from 2020 through early 2022, told reporters on Tuesday that the issues he described "may dramatically reduce the life of the plane"

Exotic corporate debt products like SDIs lure yield-hungry Indian savers

Investor appetite for bonds rated below AA has increased significantly and SDIs provide access to a pool of high-yield debt via a single investment, said Ajay Kejriwal, head of trading desk at Vivriti

Apple targets new Miami office space following Amazon and Microsoft

The company already has a smaller office in the vicinity, which has focused mostly on Latin America as well as the advertising business, including selling ad slots in the App Store

IMF under pressure to cut billions of dollars in fees for large borrowers

The IMF released a statement last week saying that "a number" of its board members were open to reviewing policies around surcharges, the fees that it charges nations that borrow more

Private credit faces liquidity risks if stress rises, says IMF report

Private credit also remains largely untested in an economic slump, according to the analysis. It caters to mostly small and mid-size borrowers with higher leverage, implying more risk

US-China tensions fragmenting trade and investment, finds IMF study

Another contrast is that many of those non-aligned economies are benefiting from a new status as "connector" economies between the two blocs, it added

Google unveils host of updates for AI Model for cloud computing customers

The company is rolling out the use of Google search results as a source for the AI model's answers, thereby providing greater accuracy and freshness, Kurian said

Tesla investors brace for potential back-to-back vehicle sales decline

The carmaker faces a tough year-ago comparison in the current period, Ben Kallo, who rates Tesla's stock the equivalent of a buy, said in a note published Tuesday

Intel unveils new AI accelerator chip in bid to gain footing on Nvidia

The updated processor, called Gaudi 3, will be widely available in the third quarter, Intel said at a company event early Tuesday