Quartz

Here’s what you need to know
Russia’s economy slowed. First-quarter reports showed a higher slip in growth rate than expected, with predictions for a “deep plunge” in the second quarter.
China signaled a loosening of its tech crackdown. Analysts stated it’s unlikely to be a policy reversal. Meanwhile, internet giant Tencent reported a steep hit to profits from covid and regulatory restrictions.
The EU committed €300 billion (US$314 billion) to wean off Russian oil. The “REPowerEU Plan,” which seeks to end oil reliance by 2030, also aims to expedite a transition to renewables.
A multinational collaboration tackles the global food crisis. The Asian and African Development Banks, and the US Treasury, among others, will spend tens of billions of dollars on assistance.
The Indo-Pacific Economic Framework is set to launch. Biden’s economic initiative will kick off on his upcoming tour to Japan and South Korea.
China is investigating a senior central banker for allegedly leaking economic data. It’s part of Beijing’s broader anti-corruption crackdown on the financial sector.
Latest stories
- Almost every American qualifies for paxlovidQuartz • 39 minutes ago
- Target can’t keep up with its customers’ changing shopping habitsQuartz • 1 hour ago
- Could Netflix be the next big tech company to unionize?Quartz • 1 hour ago
- Her baby died in his sleep. Her 29-year quest to find out why has led to a big breakthrough on SIDSQuartz • 4 hours ago
- America still isn’t building enough homesQuartz • 5 hours ago
- America’s addiction to monopolies caused the baby food shortageQuartz • 5 hours ago
- No one wants to work in restaurants anymoreQuartz • 6 hours ago