AFP
13876 articles published since 08 Mar 2022
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France to plough cash into low-emission planes: Macron
France will pump hundreds of millions of euros into developing low-emission aircraft, engines and aviation fuel in the coming years, President Emmanuel Macron said Friday. Paris would dedicate 300 million euros ($330 million) to aircraft and motor research, Macron said during a visit to jet engine maker Safran just outside the capital.
US chip giant Micron to invest $600 mn in China plant
US chipmaker Micron said Friday it would invest more than $600 million in a packing and testing factory in northern China, less than a month after Beijing banned its chips from critical infrastructure projects. China's cybersecurity watchdog last month said Micron had failed a national security review, telling operators of "critical information infrastructure" to stop buying its products.
Benin feels the pinch as neighbouring Nigeria ends fuel subsidies
Sitting on top of a yellow jerry can of fuel, Jeannine waits for customers on a sidewalk in Benin's economic capital Cotonou, but business is slow. "You know, this fuel helps feed thousands of people in Benin," said Jeannine, a 48-year-old widow with five children, who says she does not have savings "to start a new business".
UK retailer Tesco sees early signs of easing inflation
British supermarket giant Tesco said Friday there are "encouraging early signs" of easing inflation, but customers are still looking to save cash in a cost-of-living crisis.
Musk heads to France for Macron meeting
Billionaire Elon Musk is set to meet French President Emmanuel Macron in Paris on Friday for the second time in just over a month, as France aims to curry favour and attract investment from the Tesla boss. Musk and Macron held talks in May and afterwards the maverick boss of Twitter and SpaceX said he was considering big investments in France.
Bank of Japan sticks to ultra-loose monetary policy
The Bank of Japan said Friday it would maintain its long-standing, ultra-loose monetary policy as it looks to boost economic growth. Shigeto Nagai of Oxford Economics said the Bank of Japan did not seem in a hurry to change its ways, "despite recent upside surprises both on the growth and inflation fronts".
Vietnam's power crisis hits local firms, foreign investors
An intensely hot summer and unprecedented drought are straining energy supplies in northern Vietnam, prompting rolling blackouts and sudden power outages that have led to "uncountable" losses among local firms and foreign manufacturers.
Asian markets mostly up as traders eye China stimulus
Hopes China will unveil fresh measures to kickstart its ailing economy lifted most markets Friday, while the dollar struggled to bounce from losses fuelled by bets the Federal Reserve is near the end of its tightening cycle. However, Tokyo struggled on a stronger yen, even as the Bank of Japan on Friday stood pat on its ultra-loose monetary policy.
Top executive quits Nissan in new leadership turmoil
Nissan top executive Ashwani Gupta is leaving the company, the Japanese automaker said Friday, in a surprise departure that will revive concerns about the stability of the firm's leadership. Nissan said Gupta had "elected to leave the company to pursue other opportunities effective June 27", without detailing the reasons for his departure.
AFP
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