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WEF confirms investigation into claims against founder Schwab
The World Economic Forum confirmed Wednesday that it has launched an investigation into allegations made against its founder Klaus Schwab that reportedly prompting his resignation this week.
Asian markets rally as Trump comments ease Fed, China trade fears
Asian stocks rallied with Wall Street on Wednesday after Donald Trump said he had "no intention" of firing the head of the Federal Reserve and that eye-watering tariffs on China would be slashed drastically. However, Trump looked to temper those fears Tuesday, saying: "I have no intention of firing him."
Trump says won't fire Fed chief, signals China tariffs will come down
Donald Trump said Tuesday he had no intention of firing the chair of the US Federal Reserve and signalled a "substantial" lowering of tariffs on China -- moves that brought relief to global markets spooked by his aggressive policies. "I have no intention of firing him," Trump said Tuesday.
Trial testimony reveals OpenAI interest in Chrome: reports
OpenAI is ready to buy Chrome if Google is forced to sell its popular browser as part of antitrust trial, a top executive testified Tuesday, according to media reports. Turley said during his testimony that OpenAI had approached Google about integrating its search technology into ChatGPT artificial intelligence power digital assistant but was rebuffed, according to media reports.
Moving fast and breaking everything: Musk's rampage through US govt
In Silicon Valley, they talk about "moving fast and breaking things." One of his first and splashiest moves was to send emails to 2.3 million civil servants, offering buyouts -- and making clear their futures now hang by a thread.
Auto Shanghai showcases new EV era despite tariff speedbumps
The world's largest auto industry expo opens its doors Wednesday in Shanghai, showcasing the new electric world order even as mounting trade barriers risk dampening China's global ambitions. And although the levies will increase the cost of China's vehicle component exports by about 24 percent, "this represents only about 3.8 percent of China's total auto industry production value", it noted.
Trump says has 'no intention' of firing Fed chief
US President Donald Trump said Tuesday he had no plans to fire the Federal Reserve chief, in apparently conciliatory remarks after berating him and triggering market turmoil. The president does not have direct authority to fire Federal Reserve governors, but Trump could initiate a lengthy process to attempt to unseat Powell by proving there was cause to do so.
Jury finds New York Times did not libel Sarah Palin
A US jury found Tuesday that The New York Times did not libel former Alaska governor and vice presidential candidate Sarah Palin in a 2017 editorial she claimed damaged her reputation, the paper said. Palin, a former governor of Alaska, was the running mate of Republican presidential candidate John McCain during his 2008 election defeat to Barack Obama.
Tesla says profits plunge 71%, warns of 'changing political sentiment'
Tesla reported a 71 percent drop in first-quarter profits Tuesday in results that lagged analyst estimates as Elon Musk's automaker warned of a hit to demand due to "changing political sentiment." The electric vehicle producer reported profits of $409 million following a drop in auto sales that analysts said reflected brand damage due to Musk's work for the Trump administration.
AFP
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