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

A dip in consumer spending adds to evidence of a slowdown in the U.S. economy.

And Chevron reports record earnings, says oil companies outperform other sectors.

Plus, Kin Drug's Treat Addiction, programs at U.S. prisons and jails may have an answer.

Honestly, it's changed my life to be completely honest. It really has. I couldn't get away from

the drugs. I couldn't, but since I've been on this box and I'm normal on me again.

It's Friday, January 27. I'm Ann Marie for Tolle 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.

Consumer spending fell a seasonally adjusted 2-10th of a percent in December,

according to the Commerce Department, the second straight monthly decline,

after a streak of spending increases for several months last year.

As spending dropped, so too did inflation. The latest data leaves the federal reserve on

track to raise interest rates by a quarter-percentage point next week at the Central Bank's

first policy meeting of 2023. Big oil continues to post big earnings. Chevron today reported a

record $35.5 billion in profit last year, more than double the year before, as oil prices were

pushed higher by a surge in demand and amid the war in Ukraine. Oil companies are outperforming

other sectors like tech and finance, which have cut thousands of jobs in recent weeks.

Buzzfeed shares jumped 85 percent today after doubling yesterday when the company announced plans

to rely on the artificial intelligence startup OpenAI and its techs generator chat GPT to enhance

its online quizzes. But our reporter, Alexander Bruel, says some employees at the company,

...