The headwind isn’t expected to soften for the world economy in 2023. For a second year in a row, global economic activity will ease, predicts the World Bank. There’s also a bit of good news, relatively speaking, in the lender’s update of its widely read semiannual Global Economic Prospects report in the form of a slightly higher estimate for growth this year vs. the bank’s January outlook.
* US banking system may come under strain as US borrowing spree kicks in
* SEC sues Coinbase, alleging firm acted as unregistered broker and exchange
* China exports fell sharply in May, much more than expected
* Sequoia Capital, a major tech investor, will separate its China and US businesses
* Oil unlikely to reach $100 a barrel, predicts analyst
* Some economists say US recession fears are overblown
* World Bank raises forecast for global growth in 2023 to 2.1%: