Economic News
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GM says it can handle rising labor costs as it announces huge share buyback and dividend increase
Clearly frustrated with its languishing share price, General Motors is announcing a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike
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Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds
Sri Lanka says it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring
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US economic growth for last quarter is revised up to a 5.2% annual rate
Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government said in an upgrade from its previous estimate
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The world economy will slow next year because of inflation, high rates and war, OECD says
The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates
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Sweden's economy shrinks in the third quarter to signal that a recession may have hit the country
Sweden’s economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country
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New Zealand leader plans to ban cellphone use in schools and end tobacco controls in first 100 days
New Zealand’s new prime minister plans to ban cellphone use in schools and repeal tobacco controls in the agenda for his first three months in office
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Stock market today: Asia trading mixed after strong US consumer confidence data push Wall St higher
Asian shares are mixed after a strong report on U.S. consumer confidence and hopes the Federal Reserve is finished with its aggressive interest rate hikes sent shares higher on Wall Street
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41 rescued workers emerge dazed and smiling after 17 days trapped in collapsed road tunnel in India
Forty-one construction workers have been rescued from a collapsed tunnel in northern India where they had been stranded the last 17 days
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Fed's Waller raises possibility of a rate cut by spring if inflation keeps slowing
A key Federal Reserve official raised the possibility that the Fed could decide to cut its benchmark interest rate as early as spring if inflation keeps declining steadily
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American consumers more confident in November as holiday shopping season kicks into high gear
American consumers are feeling slightly more confident this month as the all-important holiday shopping season kicks into high gear
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