Abu Dhabi is the UAE's largest Emirate, forecast to see economic growth of 4.2% next year.

Thanks in part to the entrepreneurial economy that is supercharging key industries of the future,

and attracting international attention for business leaders seeking a dynamic location that they can call home.

The Eurozone economy outpaced both the US and China last year in an unusual re-ordering.

This isn't the start of some major reshaping of the global economy. It last happened in 1974,

and I wouldn't be surprised if it takes another 50 years for it to happen again.

We'll explain what's going on and what it could mean for all three economies going forward.

And corporate earnings are rolling in. We look at the record numbers from Exxon and General Motors.

Plus, how to spot a green comet that's passing by Earth tonight for the first time in 50,000 years.

It's Tuesday, January 31st. I'm Amary for Tolley for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that moved the world today.

Let's start off with corporate earnings. General Motors has rebounded from the supply chain issues

that settled the automaker earlier in the pandemic. The company posted $2 billion in net profit

for the fourth quarter and notched a record $14.5 billion in pre-tax profit for the year.

GM also announced a $650 million investment in a mining company to develop a lithium extraction

project in Nevada. Several automakers are ramping up battery capacity to support the transition

to electric vehicles. Meanwhile, Exxon Mobile, the biggest US oil company, posted its highest ever

annual profit in 2022, $55.7 billion. The results also follow a record profit report from

Exxon's closest rival, Chevron, which notched a profit of $35.5 billion last year.

Exxon's earnings also outpaced big banks and many tech giants. So far, only Apple and Microsoft

have reported higher profits for last year. More tech giants report later this week, including

Amazon and Google parent Alphabet, both will report their latest earnings after the bell on Thursday.

...