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EARLIER in the year, global economic prospects were promising as more sectors in the economy gradually reopened, more people were vaccinated, and mobility restrictions eased with economic growth steadily picking up despite a surge in Omicron-related cases. Read full story

IN the red-hot United States housing market, homebuyers are facing sticker-shock as prices have soared, and now they also have been hit with a surge in borrowing rates. Read full story

More developers expanding revenue streams Read full story

NEW YORK: Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates. This report produced by Tamara Lindstrom. Read full story

NEW YORK: A volatile stock market faces a critical test next week, when the U.S. Federal Reserve is expected to raise interest rates and give more insight on its plans for tightening monetary policy to fight surging inflation. Read full story

NEW YORK: Oil prices fell on Friday, reversing in volatile trade, pulled downward by the U.S. heating oil contract that plummeted by more than 20% at one point on the day of its expiration Read full story

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OMAHA, Neb.,: The longtime chief executive of running shoe maker Brooks Running, a unit of Warren Buffett’s Berkshire Hathaway Inc aims to more than triple revenue over the next decade, overcoming effects from supply chain disruptions and a lingering pandemic. Read full story

BEIJING: China’s factory activity contracted at a steeper pace in April, as widespread COVID-19 lockdowns curbed production and disrupted supply chains, an official survey showed on Saturday. Read full story