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Argentine economic activity plunges amid austerity drive
Argentina's economic activity continued to plummet in March, with the construction and manufacturing industries leading the slowdown as President Javier Milei's government slashes spending, official figures showed Wednesday.
US Fed's rate meeting minutes show growing inflation concerns
A strong US economy and an uptick in inflation led the Federal Reserve's rate-setting committee to conclude that progress against rising prices had stalled, according to minutes of its most recent meeting published Wednesday.
Scientists say they can make zero-emission cement
Researchers on Wednesday said they were a step closer to solving one of the trickiest problems in tackling climate change -- how to keep making cement despite its enormous carbon footprint. The Cambridge researchers approached the problem by looking at an industry that was already well established -- steel recycling, which uses electric-powered furnaces to produce the alloy.
World Economic Forum founder Schwab to retire from leadership role
Klaus Schwab, the founder and for decades the face of the World Economic Forum, will step away from executive leadership in the coming months, the organisation said.
US existing home sales slip in April on still high mortgage rates
Existing home sales in the United States crept lower in April as mortgage rates remained elevated, industry data showed Wednesday. From a year ago, home sales were also 1.9 percent lower in April, NAR data showed.
AI dominates annual Paris startup event VivaTech
Thousands of tech enthusiasts filed into Europe's self-declared biggest startup event VivaTech in Paris on Wednesday, with artificial intelligence stealing the show this year. Over four days, the event, now in its eighth year, will host more than 150,000 guests, 11,000 startups and 450 speakers, according to the organisers.
Ex-UK Post Office boss 'sorry' over convictions scandal
The former boss of Britain's Post Office on Wednesday apologised to the hundreds of staff who were wrongly prosecuted because of faulty computer software, in one of the country's worst miscarriages of justice.
ECB can start cuts before Fed, says Finnish bank governor
The European Central Bank did not have to take its cues from the US Federal Reserve and could start to lower rates as soon as June, Bank of Finland governor Olli Rehn told AFP. "While we don't make policy in a vacuum, the ECB is not the 13th Federal district of the US Federal Reserve," which is split into 12 zones, said Rehn.
Leading AI firms pledge 'responsible' tech development
Some of the world's biggest tech companies pledged to work together to guard against the dangers of artificial intelligence as they wrapped up a two-day AI summit, also attended by multiple governments, in Seoul.
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