The Group of Seven industrialized nations is 24 days from imposing a cap on the prices at which Russia’s oil refineries are allowed to sell the fuels they make. It’s another historic moment for the global petroleum market.
Two of Britain’s best-known retailers celebrated strong sales in the run-up to Christmas but warned that stubborn inflationary pressures are still darkening the outlook.
Microsoft Corp. won’t be getting more orders for its combat goggles anytime soon after Congress rejected the US Army’s request for $400 million to buy as many as 6,900 of them this fiscal year.
(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
On Kyiv’s bustling main shopping avenues, the roar of diesel generators is a symbol of how Ukrainians are adapting to war.
UK shoppers spent more on vinyl than CDs for the first time since 1987, according to the Digital Entertainment and Retail Association. Total music sales, including digital and physical formats, grew 3% in 2022 to almost £2 billion ($2.4 billion) — their highest level since 2003. The ERA’s Chief Executive Officer Kim Bayley said the growth was down to the “investment and ingenuity of streaming services” and “the physical retailers who have driven the vinyl revival.”
Taiwan Semiconductor Manufacturing Co. is bracing for weaker-than-expected sales by reducing spending, deepening concerns the technology industry’s slump is yet to bottom.
Spare office space is rising in Dublin as some of the world’s biggest technology firms grapple with post-pandemic working practices and global industry uncertainty.
Mining billionaire Andrew Forrest is reviewing proposals including a potential deal to take control of the struggling Sun Cable project to export solar power to Singapore via a 4,200-kilometer (2,600-mile) submarine cable.
For Li Hua, who since June has worked at a Covid testing booth in Shanghai, the abrupt end of Covid Zero has been a struggle.
