Economy
Japan's central bank on Tuesday on Tuesday its negative interest rate as it finally began unwinding one of the world's most aggressive monetary easing programmes. Because negative interest rates mean banks lose out by parking capital with the BoJ, the policy was aimed at encouraging them to lend to businesses and thereby jump-start the economy and inflation.
The Michelin Guide unveiled its annual list of the best French restaurants Monday, praising the "cultural dynamism" of a new generation of chefs, though again honouring only a handful of women. Among top chefs, the Michelin Guide is as feared and criticised as it is respected.
The United States plans to refill its strategic oil reserve by the end of 2024 after the stockpiles reached historic lows last year, Energy Secretary Jennifer Granholm said Monday. "By the end of this year we will essentially be back to where we would have been absent the sales," Granholm said at the CERAWeek energy conference in Houston.
Argentina's President Javier Milei has slashed public spending but 100 days into his presidency social tensions are simmering and he is still battling to pass his flagship economic reforms. His party is a minority in Congress, and rivals have repeatedly beaten back his flagship reforms.
President Joe Biden's administration on Monday finalized a rule banning the last remaining form of asbestos in the United States, half a century after the government first targeted the cancer-causing mineral. Asbestos in oilfield brake blocks and aftermarket automotive brakes and linings will be banned six months after the rule is finalized.
Donald Trump faced having assets seized in a humiliating blow to his carefully cultivated image as a self-made tycoon as his lawyers acknowledged Monday he doesn't have the cash to appeal a $464 million fine for fraudulently inflating his wealth.
Indian-owned Tata Steel UK said Monday that it would shut down coke ovens at its Port Talbot steelworks in south Wales starting this week -- months earlier than previously announced. Tata had said in January that it was planning to shut the coke ovens and two high-emission blast furnaces in Port Talbot, the biggest steelworks in the UK, leading to the loss of up to 2,800 jobs in the Welsh town.
United Airlines is redoubling safety training following a number of incidents in recent weeks, the company's chief executive told customers Monday. United has experienced "a number of incidents" that are "unrelated" but serve as "reminders of the importance of safety," Chief Executive Scott Kirby said in an email to customers.
The World Bank is planning to give Egypt more than $6 billion in financial assistance over the next three years to help it meet its development priorities, the Washington-based lender announced Monday. "Over the coming three years, the World Bank Group intends to provide more than US$6 billion of support to Egypt," the development lender said in a statement.
Economy
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