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The Latest Breaking News from ING

Tesla's Elon Musk May Pause Hires, 10% Staff Cut, Economic Uncertainty

Tesla's dancing CEO has been on a roll lately via Twitter. He issued an ultimatum about remote work, and now he's looking at cutbacks due to economic forecasts.

InsideEVs

Japan’s factory output slumps in worrying sign for economy

Factory production falls 1.3 percent in April as China lockdowns and Ukraine war weigh on manufacturers.

Al Jazeera

Asian stocks rise after Wall St breaks string of declines

Asian stocks are higher after Wall Street rebounded from a seven-week string of declines and China eased anti-virus curbs on business activity in Shanghai and Beijing

The Independent UK

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‘I haven’t eaten jam since’: how the side hustle ate the hobby

It’s never been easier to commodify our leisure time. But as some once-passionate hobbyists have found, turning play into work can really dull the joy

The Guardian - AU

China pledges support for ailing economy, analysts doubt impact

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth.

Al Jazeera

6 High-Yield Dividend Stocks To Buy And Hold In A Volatile Market

During periods of stock market weakness, investors can still generate yield from high-quality dividend stocks. The Federal Reserve has already raised interest rates by 0.75% so far in 2022, but there are plenty of high-yield dividend stocks paying 6% or more at current prices.

Benzinga

Back to the bad old days of the 1990s as recession looms for UK

Inflation is set to jump to 9% this week when official figures are released, and fears of a slump are growing

The Guardian - UK

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Philippines’s GDP growth blasts past forecasts

Southeast Asian country’s gross domestic product expands 8.3 percent in first quarter.

Al Jazeera

3 High-Yield Stocks Wall Street Predicts Will Rally 55% or More

The U.S. equity market has been in correction mode lately on concerns over the Fed’s hawkish stance in fighting decades-high inflation and geopolitical issues. Furthermore, many analysts expect the economy to slip into recession. Therefore, we think it could be wise to bet on high-dividend-yielding stocks Sibanye Stillwater (SBSW), ING…

StockNews.com

Lex in depth: why the luxury market needs to hedge against China

A shift in spending habits in Asia and a crackdown on wealth by Beijing threaten a profit squeeze for high-end brands

Financial Times

Crossrail to finally open; German exports to Russia plunge; climate protests at Barclays AGM – as it happened

London’s Elizabeth line finally launching, while German exports to Russia fell nearly two-thirds in March and climate activists have disrupted two bank AGMs

The Guardian - UK

IMF head warns rising food and fuel prices strain family budgets ‘to breaking point’ – as it happened

IMF managing director Kristalina Georgieva says ‘double crisis’ from Ukraine war and Covid is ‘a massive setback for the global recovery,’ as the fund says it’s open to emergency financing for nations facing food insecurity

The Guardian - UK

Britain could fall into recession this summer, say experts

Inflation will limit UK consumers’ spending power, with energy costs a particular problem

The Guardian - UK

Will China’s zero-Covid policy bring the world’s factory grinding to a halt?

Huawei executive warns of ‘massive losses’ in tech sector as tensions rise over strict lockdowns

The Guardian - UK

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Pedestrian.tv

MAFS Recap: I Need Both Xanax & Cyanide After Watching The Chaotic Reunion Dinner Unfold

"Tamara's a snake, full stop."

Asharq Al-Awsat

Oil Prices Dive as US Weighs Record Reserves Release

Oil prices plunged more than $5 a barrel on Thursday on news the United States was considering the release of up to 180 million barrels from its strategic petroleum reserve, the largest in the near 50-year history of the SPR. Brent futures for May fell $5.47, or 4.8%, to $107.98…

Bangkok Post

Oil prices dive as Biden weighs massive reserves release

SINGAPORE: Oil prices dived more than $5 a barrel on Thursday as the United States is considering the release of up to 180 million barrels from its strategic petroleum reserve (SPR) over several months to calm soaring crude prices.

The Independent UK

China tries to limit economic blow of Shanghai shutdown

China's leaders are trying to fine-tune their “zero tolerance” COVID strategy to rein in job losses and other costs to the world’s second-largest economy

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The Guardian - UK

Sir Chris Hohn urges shareholders to vote against ‘greenwashing’ bank directors

Call comes as thinktank says the world’s 30 largest financial institutions are undermining their net zero targets

The Guardian - UK

Cost of living crisis hitting economic outlook as firms hike prices – as it happened

Rolling coverage of the latest economic and financial news

Benzinga

ING Groep Becomes Biggest Bank To Phase Down Funding Of New Oil & Gas Projects: Reuters

ING Groep NV's (NYSE: ING) energy chief said that the bank will no longer finance new oil and gas projects, becoming the biggest bank yet to commit to such a step in the fight against climate change.

The Independent UK

Chinese virus cases climb, raise threat of trade disruption

Anti-virus controls have forced auto and electronics makers to shut factories in China and are raising risks of wider disruptions if the curbs spread to Chinese ports that are among the world’s busiest

The Independent UK

War in Ukraine disrupts key supply chains - and lives

It can be hard to measure the ways that Russia’s war in Ukraine has disrupted the global supply of parts and raw materials needed to manufacture products ranging from cars to computer chips

AAP

Online groceries save time, money: survey

A national survey commissioned by ING bank has found savvy shoppers are trading traditional grocery isles for online convenience.

Benzinga

Trading Wheat Futures In 2022 - What You Need To Know

Fears of the impact of Russia-Ukraine war on global inflation and recession have escalated in recent weeks and another major issue looming over the horizon are concerns that the conflict could result in a hunger crisis as both countries account for over a quarter of the world’s wheat exports.

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