AFP
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We're no exception," Trudeau confirms China's interest in 2021 federal election
Justin Trudeau, the prime minister of Canada, has confirmed that China attempted to interfere in its internal democracy but expressed confidence in control.
Cautious Walmart outlook hits shares despite solid Q4 profits
Walmart reported better-than-expected profits over the critical holiday-season quarter Tuesday, but offered a disappointing outlook as inflation weighs on consumers. Chief Executive Doug McMillon said the chain expects "stubborn inflation" in food as executives acknowledged that grinding price pressures were hitting some consumers, denting the outlook.
Tanzania approves controversial $3.5 billion oil pipeline
Tanzania's government gave its approval on Tuesday for the construction of a $3.5 billion crude oil pipeline despite human rights and environmental concerns about the mega-project. The pipeline required approval from both countries, and last month Uganda issued a licence to the project operator, the East African Crude Oil Pipeline (EACOP).
EU vows to boost investment in Kenya to strengthen ties
The European Union said Tuesday that it would increase its investments in Kenya by hundreds of millions of dollars, looking to bolster ties in the face of competition from China.
HSBC pre-tax profit slumps on France sale
Bank titan HSBC said Tuesday that annual pre-tax profit tumbled after taking a huge charge on the sale of French retail operations. Pre-tax profit slid more than seven percent to $17.5 billion (16.4 billion euros) last year, after a vast $2.4-billion impairment on the planned divestment of the French unit.
Dubai airport sees surge in arrivals bolstered by Russian influx
Dubai's airport welcomed 66 million passengers in 2022, more than double the previous year, it said Tuesday, a spike its chief executive attributed to "huge growth" in Russian travellers. The airport "welcomed a total of 66,069,981 passengers during 2022", representing year-on-year growth of 127 percent, according to a statement.
Zalando to cut 'hundreds of jobs'
German online fashion retailer Zalando said Tuesday it plans to cut hundreds of jobs to help it confront a "more challenging" economic environment after years of rapid growth. Founded as a Berlin start-up in 2008, Zalando quickly rose to become Europe's leading online fashion and lifestyle retailer.
Big Tech defends landmark law in US Supreme Court
The US Supreme Court on Tuesday will consider a law that since 1996 has protected tech companies from lawsuits related to content posted on their platforms. Section 230 states that in the US internet companies cannot be considered publishers and have legal immunity for the content posted on their platforms.
Asian markets fluctuate with rates set to go higher
Asian markets swung Tuesday, with traders trying to gauge the outlook for the US economy as they price in more interest rate hikes than previously feared. That has dealt a blow to hopes the central bank would stop hiking soon and even begin cutting rates before the end of the year, while the prospect of tighter policy has fanned fears of a recession.
AFP
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