AFP
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Author's articles
US consumer inflation unexpectedly up, Trump blames Biden
US consumer inflation unexpectedly accelerated last month, data showed Wednesday, in a moment of potential political peril for President Donald Trump, who quickly blamed the uptick on his predecessor Joe Biden. Trump wrote in a post on his Truth Social account shortly after the data was published, seeking to blame his Democratic predecessor for the CPI increase.
Bankrupt ex-Turkey operator of KFC, Pizza Hut says wages to be paid
The former operator of the KFC and Pizza Hut franchises in Turkey on Wednesday promised to pay the outstanding salaries of its 7,000 staff just days after filing for bankruptcy. IS Gida, the franchise operator, filed for bankruptcy last week with its CEO Ilkem Sahin saying it had an outstanding debt of 7.7 billion Turkish liras ($214 million).
Heineken shares pop on bubbly beer sales
Shares in Dutch brewer Heineken fizzed at the market open on Wednesday, as traders cheered better-than-expected beer sales despite a slight dip in overall turnover. Heineken sales figures overall registered a slight dip last year, mainly due to currency fluctuations.
Musk aide given payment system access by mistake
An Elon Musk aide was mistakenly given clearance to make changes to the US Treasury Department's highly sensitive payments system containing millions of Americans' personal information, a department official said Tuesday.
India's Hindu mega-festival supercharges economy
The unfathomable scale of the world's largest religious festival in India overshadows many nations in size -- and for the economy, its impact is just as dramatic. They are staggering statistics even for the world's most populous nation of 1.4 billion people.
Asian stocks rise as Powell rate warning taken in stride
Equities rose in Asia on Wednesday as traders took in their stride a warning from Federal Reserve boss Jerome Powell that the US central bank "did not need to be in a hurry" to cut interest rates again.
What are reciprocal tariffs and who might be affected?
US President Donald Trump has threatened to open new fronts in his tariffs war by announcing reciprocal levies on other countries as soon as Tuesday, branding this "the only fair way" to trade. And on Sunday, he said he would make a detailed announcement on the tariffs on Tuesday or Wednesday, adding that "every country will be reciprocal."
AI feud: How Musk and Altman's partnership turned toxic
The feud between Elon Musk and Sam Altman has become one of the bitterest rivalries in business history, with the Tesla tycoon bidding to buy Altman's OpenAI in an apparent attempt to derail the ChatGPT maker's ascent to becoming one of the world's most important companies.
US inflation fight to take time in 'highly uncertain' environment: Fed official
The US Federal Reserve is in a strong position to weather the "highly uncertain" economic outlook, but its inflation fight will take time to win, a senior US central bank official said Tuesday.
AFP
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