
AFP
17208 articles published since 08 Mar 2022
17208 articles published since 08 Mar 2022
US President Donald Trump on Monday picked Michelle Bowman to be the Federal Reserve's next vice chair for supervision, tapping someone seen as favoring a lighter touch to banking regulation.
Starbucks has been ordered to pay $50 million to a customer who was burned when hot tea spilled on his lap at a California drive-through. The case is redolent of a 1994 landmark legal action against McDonald's in New Mexico, when 79-year-old Stella Liebeck was awarded over $2.8 million after spilling hot coffee on herself.
Several countries united with campaign groups Monday to call for caution in regulating the divisive practice of deep-sea mining at a meeting on the issue in Jamaica. Members of the International Seabed Authority (ISA) are meeting in Kingston to thrash out the first mining code on deep-sea extraction that has faced accusations of imperiling marine ecosystems.
Premium carmaker Audi said Monday it will cut 7,500 jobs by 2029 in Germany, citing "immense challenges" as the country's auto industry battles slowing electric vehicle demand and rising Chinese competition.
Hong Kong's second-richest man Lee Shau-kee has died aged 97, the property tycoon's firm Henderson Land Development announced Monday. Lee died peacefully on Monday evening in the company of his family, Henderson said in a press release.
Countries must move rapidly to slash CO2 emissions from homes, offices, shops and other buildings -- a sector that accounts for a third of global greenhouse gas pollution, the United Nations said Monday.
US retail sales logged smaller gains than expected in February according to government data released Monday, edging up from an earlier decline with all eyes on consumer spending strength amid growing worries of a recession. - Risk of weakness - From a year ago, retail sales were up 3.1 percent in February, the government data showed.
A UK court on Monday upheld an emergency loan granted to Thames Water, allowing Britain's largest such supplier to keep a financial lifeline as it drowns under massive debt. Thames is scrambling to find fresh sources of funding, including appealing to the UK water regulator to be allowed to hike bills more than granted.
Trade tensions and geopolitical uncertainties are weighing on economic perspectives, the Organisation for Economic Co-operation and Development said on Monday as it lowered its projections for global growth in 2025. That was due to "higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending".
AFP
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