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Argentine monthly inflation lowest in 2.5 years
Monthly inflation in economically troubled Argentina came in at 4.2 percent in May, the lowest in two-and-a-half years, mainly due to a drop in consumption, the INDEC statistics agency said Thursday. Economist Hernan Letcher of the CEPA economics think tank told AFP the inflation drop was explained, in large part, by a "significant fall in consumption."
Bond-buying in focus as Bank of Japan decides policy
The Bank of Japan is expected to hold interest rates steady on Friday but reports said it could gradually reduce its vast hoard of government bonds as it shifts away from a long-running ultra-loose monetary policy. And because reducing government bond purchases is already widely expected, if the BoJ does not decide to do this, the yen will decrease further, he warned.
Boeing to check undelivered 787s due to fastener issue
Boeing said Thursday it is examining fasteners on some undelivered 787 jets after discovering problems with their installation in the latest manufacturing shortcoming to face the company.
French writer Michel Houellebecq deemed too offensive by AI
The world's favourite French misanthrope writer Michel Houellebecq is too controversial for the world's new AI tools, which find his views so offensive that they cannot be repeated. The president of renowned French publishing house Gallimard wrote an article published Thursday in La Nouvelle Revue Francaise saying he had asked Meta's AI tool, Llama, to write a scene in the style of Houellebecq.
Kenya eyes budget deficit with new tax hikes
Kenya's finance minister on Thursday presented the East African nation's biggest ever budget, alongside contentious tax proposals to help plug a hole in the public finances. Finance Minister Njuguna Ndung'u presented the four-trillion-shilling ($31.1-billion) budget for 2024/25 to parliament, up from 3.75 trillion shillings it approved last June for the current fiscal year.
Russians shrug off sanctions on dollar, euro trading
Russians on the streets of the capital shrugged off new US sanctions on dollar and euro trading Thursday, claiming they had no need for Western currencies in their heavily targeted economy. The move cuts the group off from Western financial architecture and forced it to suspend trading in both the dollar and euro.
UK's Labour pitches for power with 'wealth creation' pledge
Britain's Labour party launched a "manifesto for wealth creation" Thursday, pledging to get the economy firing again if it wins power in next month's election after 14 years in opposition. The manifesto launch came two days after the Tories promised voters more tax cuts, in a campaign where the affordability of the main parties' spending plans have come under close scrutiny.
EU queries major porn platforms over child protection
The European Union on Thursday told three pornographic websites to explain what steps they have taken to protect children online and prevent the spread of illegal content. The European Commission demanded information about what action they have taken "to diligently assess and mitigate risks related to the protection of minors online".
European stock markets falter
European stock markets faltered Thursday following mixed showings by Asia and on Wall Street, as traders reacted to US Federal Reserve signals that it plans only one interest-rate cut this year. In the United States, the Federal Reserve left its key lending rate unchanged on Wednesday and pencilled in just one rate cut this year, down from the three expected in March.
AFP
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