Business and Economics

Even the Russian economy is expected to grow in 2023, the IMF said, with a forecast expansion of 0.3 per cent in 2023.

An analysis of the corporation’s coverage found that a lack of impartiality could be caused by "uninformed groupthink".

"More than most industries, auto manufacturing shows how Brexit was a dream of independence in an interdependent world."

Labour shortages have made inflation more persistent, Joost Derks said, putting Britain's economy in a slippery slope.

“If you are going to succeed with batteries, you need big manufacturers to be in the same market using those batteries."

The full consequences of the UK’s exit have been “clouded” by the Covid crisis, war in Ukraine and global slowdown, he said.

Analysts had predicted that the economy would shrink by 0.3 per cent for the month.

His total losses far surpass the previous record of $58.6 billion, set by Japanese tech investor Masayoshi Son in 2000.

More than two-thirds of companies also said they need to reduce staff costs.