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and are earning more than ever before. let s start with oil prices, because they ve risen some 20% over the past three weeks. this time last week, prices surged after the oil cartel, opec +, decided it would reduce its combined output by 1.1 million barrels per day. crude prices climbed after the cartel s announcement, but later in the week they steadied, following the latest us and chinese economic data which suggested weaker post pandemic growth. so where are we headed? russ mould, investment research director at aj bell joins me now. i m very excited about this. you are down by the seaside in brighton but actually here today. on the bank holiday we dragged you in. what are your thoughts about oil right now? opec + is seen as this organisation by the white house is not especially helpful when it comes to our outlook for the global economy, cutting production and causing another spike in the price of oil which is very inflationary? it spike in the price of oil which is ....
china is the world s largest car market, and whilst tesla generates most of its money from its electric car business, boss elon musk has committed to grow its solar energy and battery business to roughly the same size. here s mariko with the details from singapore. it is quite a big deal because of course, tesla already has that huge plant in shanghai to make electric cars, so it is basically increasing its investment in china. the fact that this announcement came when tensions between washington and beijing are quite high, that is quite interesting. as you said, this is a mega factory, to produce mega packs. they are basically very large batteries that can store energy, so that they can help stabilise the power grid and also prevent outages. now, of course, many of our viewers associate tesla with those electric cars and that is where the company generates most of its money from. but the company s boss, elon musk, is very keen to also grow its solar energy and battery ....
Growth in that rose very sharply because of covid 19 and our interest rates are high thatis our interest rates are high that is putting clamps on consumers, corporations and governments in one of the biggest challenges going forward for all the inflationary central banks have that might put a lid on interest rates because government s own interest bills are going up which puts a clamp on their ability to give wealth and support. on their ability to give wealth and swoon- and support. lovely to see physically and support. lovely to see physically here and support. lovely to see physically here the - and support. lovely to see physically here the studio. i physically here the studio. more analysis on that later looking at the us inflation outlook in more detail. that is to come a little later on. let s get some of the day s other news. bytedance, which owns tiktok, has announced record profits of $25 billion for 2022. bytedance is currently the world s most valuable private company ....
In other news. bytedance, which owns tiktok, has announced record profits of $25 billion for 2022. bytedance is currently the world s most valuable private company and its earnings were boosted by greater advertising on tiktok, despite the social media app currently being under pressure over security concerns. airbnb hosts in liverpool are being warned not to try to hike prices on stays already booked ahead of the eurovision song contest. airbnb said it had zero tolerance for this behaviour and was taking action to stop hosts cancelling bookings and relisting at a higher price. liverpool is expecting an extra 150 thousand visitors during eurovision. apple has been hurt badly by a sharp fall in the global shipments of pcs in the first ....