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IMF Chief Kristalina says cannot rule out possible global recession

The IMF is expected to release its updated forecast for 2022 and 2023 in late July, after slashing its forecast by nearly a full percentage point in April

Wall Street rises as rate hike fears ebb; GameStop gains on stock split

Weekly jobless claims unexpectedly rise; Samsung results boost chipmakers

With Johnson quitting as UK PM, who could replace him: Here are a few names

Sajid Javid, Rishi Sunak, Ben Wallace are among the few probables who could replace Johnson for the top job in UK govt

Inflation, CAD: RBI's moves to stabilise rupee face many economic hurdles

The steps came after the RBI's foreign exchange reserves fell by more than $40 billion over the past nine months, largely due to its intervention in the currency market to curb rupee losses

Euro just off two-decade low, volatility at highest since March 2020

By Stefano Rebaudo

Ukraine raises flag on recaptured island as Russia makes gains in east

Ukraine hoists flag on recaptured Black Sea island; Russia carries out air strike on island; Russia consolidates gains in eastern Ukraine

Chipmakers revive global stocks as euro struggles after freefall

Looming rate hikes have created recession fears in minds of investors leading to stock price drops. However, chipmakers have soothed those fears by reviving stock prices and eased investors

Gold prices gain on bargain hunting after sharp losses, softer dollar

Gold prices have regained footing following some significant losses and a comparable softer US Dollar

Brent holds above $100 in tussle between supply and recession fears

By Noah Browning

Scandal-ridden Boris Johnson to quit as UK Prime Minister

Johnson's Downing Street office confirmed that he would make a statement to the country later

Nykaa's parent FSN E-commerce soars 5% after men's innerwear brand launch

Shares of FSN E-Commerce Ventures, the parent of cosmetics-to-fashion retailer Nykaa, jumped 4.8% on Thursday, a day after it said its fashion segment was expanding into the men's innerwear

Ukrainian forces thwart Russian advance into northern Donetsk region

Russia has increased its focus on Donetsk, the southern part of which it and its proxies already control

Crypto exchange FTX has 'a few billion' to support industry, says CEO

Bankman-Fried, who is from California but lives in the Bahamas where FTX is based, has become crypto's white knight in recent weeks, throwing lifelines to digital asset platforms that have faltered

New UK FM Zahawi pledges to boost economy, says 'nothing off the table'

But the former education minister faced questions about whether he would even have a chance to steer the economy out of its slowdown, given Johnson's weakening grip on power

UK PM Boris Johnson clings on despite clamour for his resignation

With a BBC report that a group of his most senior ministers were poised to tell Johnson to quit and govt resignations rising to over 30, some questioned wisdom of Johnson trying to ride out the storm

Apple to release new 'Lockdown Mode' as it battles spyware firms

The move comes after at least two Israeli firms have exploited flaws in Apple's software to remotely break into iPhones without the target needing to click or tap anything

Emerging markets post longest streak of monthly outflows since 2015: IIF

Emerging markets suffered a fourth straight month of portfolio outflows in June, notching the longest losing streak in seven years, as recession fears and inflation rattled investors, IIF data said

Oil prices drop to 12-week low on recession, Covid worries

Dollar holds near 20-year high against other currencies; China reports new Covid cases across the country; Norwegian oil output to return within days after strike

EV maker Rivian's deliveries nearly quadruple as it ramps up production

The company also said on Wednesday it was on track to meet its annual production target of 25,000 units after output jumped 72% sequentially to 4,401 vehicles in the quarter

Euro falls lowest since 2002 against USD on concerns over energy prices

Euro drops to its lowest since two decades over energy supply concerns