IMF raised its 2024 and 2025 economic growth forecasts for the US - the only developed economy to see its outlook marked up for both years

China's leaders are targeting annual growth of five percent this year -- a goal challenged by weak consumption and a prolonged and debilitating debt crisis in the colossal property sector

HSBC Holdings said on Tuesday it would combine some of its commercial and investment banking operations in a major overhaul under new CEO Georges Elhedery, which will see it cut costs while trying to improve returns.

The latest $325 million in proposed funds under the CHIPS and Science Act -- a package of incentives to boost research and US semiconductor production -- goes towards polysilicon manufacturer Hemlock Semiconductor

Trade minister Douglas Alexander said Britain's 2016 vote to leave the EU caused "significant disruption" to its trade policy and the country needed to recalibrate its global trade outlook

The punishing post-Covid wave of sovereign defaults has finally crested, with the likes of Ghana, Sri Lanka and Zambia concluding years of painful debt reworks.

The growth comes despite global challenges such as inflation and supply chain disruptions, which have impacted other major garment-exporting nations, the report states

The International Monetary Fund and World Bank annual meetings are scheduled to draw more than 10,000 people from finance ministries, central banks and civil society groups to discuss efforts to boost patchy global growth, deal with debt distress and finance the green energy transition

Brent crude futures rose 8 cents, or 0.11 percent, to $73.14 a barrel by 0120 GMT

The cuts come just days after the country posted its slowest quarterly growth in a year and a half, underlining the deep economic woes the country faces.

The issue, and what to do about it when western countries are increasingly loath to send money overseas, is a key topic at the IMF World Bank autumn meetings taking place in Washington, D.C. this week.

China may be on track to hit its “around 5 percent” economic GDP target for this year, but repeating the feat will get harder for policymakers. Third quarter growth logged in at 4.6 percent year-on-year, and that pace will need sustaining if the People’s Republic is to achieve medium-level developed economy status by 2035. Unless planners move their own goalposts, they’ll have to contort themselves a lot more.

Inflation in the United States picked up in the late 1960s in the wake of the Vietnam War and spending on President Lyndon Johnson’s “Great Society” set of social programs

Since April, truck drivers' annual overtime has been capped at 960 hours, or 80 hours per month on average, alongside new rules including on break stops

The People's Bank of China, Ministry of Finance and other departments have at least announced enough stimulus measures to convince economists this year's performance will be on-target

Boeing confirmed a tentative deal was reached and said it includes a 35 percent pay raise over four years and a one-time signing bonus of $7,000

China posted its slowest growth in a year and a half on Friday, underlining the deep economic woes the country faces as its central bank launched a new bid to boost markets and hinted at a further rate cut in coming months.

Brent crude futures fell $1.39, or 1.87 percent, to $73.06 a barrel. US West Texas Intermediate crude settled at$69.22 a barrel, down $1.45 or 2.05 percent

The economy expanded 4.6 percent year-on-year in the third quarter, down from 4.7 in the previous three months and the slowest since early 2023

This year marks the third highest US deficit, behind 2021 and 2020, according to the Treasury