South Korea’s booming arms trade rolls out the large weapons in bid for world attain

Changwon, South Korea CNN  —  With a blinding yellow flash and a concussion that shakes bones, K9 self-propelled howitzers launch artillery shells onto a hill that’s simply been hit by rockets fired from helicopters. Then K2 tanks roar in, dashing up roads and firing as they go. That is a part of DX Korea, a … Read more

Nexperia and Elmos circumstances present how the US-China chip conflict is spilling over to Europe

Hong Kong CNN Enterprise  —  Two European chip offers have run into bother over their hyperlinks with China, an indication of concern spreading within the West over potential Chinese language management of essential infrastructure. Final week, the brand new proprietor of Britain’s largest chipmaker was ordered to unwind its takeover, simply days after one other … Read more

Japan’s financial system shrinks for first time in a 12 months

Japan’s financial system unexpectedly shrank for the primary time in a 12 months within the third quarter, stoking additional uncertainty in regards to the outlook as world recession dangers, a weak yen and better import prices took a toll on family consumption and companies. The world’s third greatest financial system has struggled to motor on … Read more

Germany blocks sale of chip factory to China over security fears

London/Berlin CNN Business  —  The German government has blocked the sale of one of its semiconductor factories to a Chinese-owned tech company because of security concerns. Germany’s economic ministry said in a statement that it had prohibited Elmos Semiconductor, which makes chips for the automotive industry, from selling its factory in Dortmund to Silex, a … Read more

China’s exports shrink unexpectedly in October from COVID curbs, rising inflation and interest rates

China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as surging inflation and rising interest rates hammered global demand while new COVID-19 curbs at home disrupted output and consumption. The bleak October trade figures highlight the challenge for policymakers in China as exports had been one of the few … Read more

Russia changes course, rejoins Ukraine grain export deal

CNN  —  Russia said Wednesday it was rejoining the agreement that guarantees safe passage for ships carrying vital grain exports from Ukraine, a move that may help ease concerns about global food supplies that were raised when Moscow suspended its participation in the pact last week. The decision to reverse course and rejoin the agreement … Read more

What does Russia quitting grain deal mean for global hunger?

CNN  —  Russia’s decision to pull out of an agreement that guaranteed safe passage for ships carrying vital grain exports from Ukraine has sparked “grave concerns” over global food supply at a time when the world is already facing a growing hunger crisis. Global humanitarian organizations, the European Union, NATO and the United Nations have … Read more

Janet Yellen: Treasury secretary says she’s not seeing signs of a recession in the US economy

CNN  —  Treasury Secretary Janet Yellen said Thursday in an exclusive interview with CNN that she did not see signs of a recession in the near term as the US economy rebounded from six months of contraction. During a one-on-one interview in Ohio that aired on CNN’s “Erin Burnett OutFront,” Yellen said the third quarter … Read more

Europe now has so much natural gas that prices just dipped below zero

London CNN Business  —  Europe has more natural gas than it knows what to do with. So much, in fact, that spot prices briefly went negative earlier this week. For months, officials have warned of an energy crisis this winter as Russia — once the region’s biggest supplier of natural gas — slashed supplies in … Read more