China’s economy unexpectedly loses steam; Beijing warns of ‘severe’ global risks

The risk for Chinese economy is that strong exports may no longer be enough to offset weakness at home. Driving the newsChina’s economy has unexpectedly staggered into the second quarter. Factories slowed, consumers pulled back and investment unexpectedly shrank, delivering one of the clearest signs yet that Beijing’s recovery is being squeezed from both sides:…

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“The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence.”

Charles Bukowski (Image: Wikipedia) Some quotes arrive gently. They encourage people, offer comfort and leave readers feeling slightly better than before. Then some quotes almost poke people in the shoulder. They sound sharp, slightly uncomfortable and perhaps a little cynical too. This quote by Charles Bukowski belongs somewhere in that second category.The first reaction many…

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US Treasury reaches $275 million settlement with Adani Enterprises over Iran sanctions violations

The US Treasury Department on Monday said it had reached a $275 million settlement with Adani Enterprises over the company’s potential civil liability linked to 32 apparent violations of US sanctions involving Iran, according to a Reuters report.The US Treasury’s Office of Foreign Assets Control (OFAC) said Adani Enterprises had purchased shipments of liquefied petroleum…

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