Business news worldwide

Here are some of the latest business news from around the world:

Global Economy

• The International Monetary Fund (IMF) has cut its global economic growth forecast for 2023 to 3.2%, citing rising inflation and interest rates. (Source: Reuters)
• The World Bank has warned that the global economy is facing a "perfect storm" of challenges, including high inflation, supply chain disruptions, and the ongoing COVID-19 pandemic. (Source: Bloomberg)

Asia

• China's economy grew at its slowest pace in a decade in the fourth quarter of 2022, with GDP expanding 4.9% year-on-year. (Source: CNBC)
• Japan's economy contracted by 0.6% in the fourth quarter of 2022, its first decline in three years. (Source: The Japan Times)
• India's economy grew by 8.7% in the fourth quarter of 2022, driven by strong consumer spending and government spending. (Source: The Hindu)

Europe

• The European Union has imposed sanctions on several Russian banks and individuals in response to Russia's invasion of Ukraine. (Source: BBC News)
• The UK's economy grew by 0.1% in the fourth quarter of 2022, its slowest pace in a year. (Source: The Guardian)
• Germany's economy contracted by 0.7% in the fourth quarter of 2022, its first decline in two years. (Source: Deutsche Welle)

North America

• The US economy grew by 2.1% in the fourth quarter of 2022, driven by strong consumer spending and government spending. (Source: The New York Times)
• Canada's economy grew by 0.1% in the fourth quarter of 2022, its slowest pace in a year. (Source: The Globe and Mail)

Latin America

• Brazil's economy grew by 1.2% in the fourth quarter of 2022, driven by strong consumer spending and government spending. (Source: The Financial Times)
• Mexico's economy grew by 2.1% in the fourth quarter of 2022, driven by strong manufacturing and services sectors. (Source: The Wall Street Journal)

Africa

• South Africa's economy grew by 1.9% in the fourth quarter of 2022, driven by strong consumer spending and government spending. (Source: Bloomberg)
• Nigeria's economy grew by 3.1% in the fourth quarter of 2022, driven by strong oil production and non-oil sectors. (Source: The Punch)

Technology

• Meta Platforms, the parent company of Facebook and Instagram, has announced a major restructuring plan, which includes laying off 11,000 employees. (Source: The Verge)
• Elon Musk has announced that Tesla will be laying off 7% of its workforce, citing the need to reduce costs and improve profitability. (Source: CNBC)

Finance

• The US Federal Reserve has raised interest rates by 0.25% to combat inflation, marking the seventh rate hike since March 2022. (Source: The New York Times)
• The European Central Bank has raised interest rates by 0.5% to combat inflation, marking the first rate hike in 11 years. (Source: The Financial Times)

These are just a few of the latest business news from around the world.