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Here’s what you need to know
The euro zone reported fourth-quarter growth… The bloc’s GDP grew 0.1%, dodging a recession. Meanwhile, the IMF projected that the UK will be the only G7 economy to shrink in 2023.
…while China reported an uptick in economic activity. Manufacturing numbers rebounded from December to January as the zero-covid “exit wave” winds down.
Adani Enterprises completed a $2.5 billion share sale. The offering was fully subscribed despite fraud allegations leveled at Adani Group, which have taken a bite out of billionaire-owner Gautam Adani’s wealth.
BYD launched EV sales in Japan. China’s largest EV maker debuted in the world’s fourth largest car market as it takes on Tesla in global sales.
ExxonMobil posted record annual profits. The US oil giant reported $55.7 billion in 2022 earnings as energy prices soared last year following Russia’s invasion of Ukraine.
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Lebanon devalued its currency by 90%. The official exchange rate, previously unchanged since 1997, has been weakened amid an ongoing financial crisis.
French unions led a second round of strikes against pension reform. About 2.8…
