UK defence secretary resigns over spending plan

Global growth is slowing to lowest level since pandemic, says World Bank

Forecast for this year downgraded to 2.5% and inflation expected to jump as a result of war in the Middle East Global economic growth will slow to 2.5% this year as a result of the war in the Middle East – the weakest since the Covid pandemic – as inflation and borrowing costs rise, the World Bank has warned. The Washington-based development bank has downgraded growth forecasts for two-thirds of countries in its half-yearly Global Economic Prospects report. The bank estimated that global...

China’s BYD claims Germany’s plug-in hybrid crown, disrupting market of iconic auto giants

One out of every seven plug-in hybrid vehicles registered in Germany in May came from BYD, as the Chinese carmaker’s registrations surged 232 per cent in Europe’s largest auto market from a year earlier. With 6,169 vehicles registered there in May, BYD held a 2.6 per cent share of Germany’s new-car registrations, according to data from the country’s Federal Motor Transport Authority. Of those, 4,290 were plug-in hybrids, led by the Atto 2 DM-i with 2,113 registrations – the top-selling...

World Bank Warns Iran War Is Slowing Global Growth

An explosion after U.S.-Israeli airstrikes hit oil storage depots in Tehran. The war has tangled supply chains and caused oil, gas and fertilizer prices to gyrate for months.

World Bank Says Two-Thirds of Economies Face Hit From Iran War