AFP
13876 articles published since 08 Mar 2022
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Musk fights US state of Delaware after Tesla pay debacle
Elon Musk is on the warpath against Delaware and its powerful business court, moving his SpaceX company out of the eastern US state after a judge struck down his $56 billion compensation package at Tesla. The move came just weeks after Judge Kathaleen McCormick voided his eye-watering compensation package at Tesla, taking sides with a shareholder who claimed the entrepreneur was overpaid.
China urges firms not to be 'blinded by lies' over Xinjiang rights record
China on Thursday urged companies not to be "blinded by lies" about its rights record in Xinjiang, after German automaker Volkswagen said it was discussing the future of its activities in the troubled region. It urged firms to "respect the facts, distinguish right from wrong, and not be blinded by lies".
US dollar dominance not under threat, despite risks: Fed official
The status of the US dollar as the world's reserve currency is likely to continue, despite threats posed by China's rise and the growth of cryptocurrencies, a US Federal Reserve official said Thursday. "I do not expect to see the US dollar lose its status as the world's reserve currency anytime soon, nor even see a significant decline in its primacy in trade and finance," he added. da/des
Bitcoin's renewed euphoria as price keeps rising
Bitcoin is forecast to keep on rising after hitting fresh two-year highs above $50,000 on Thursday, leaving analysts to wonder whether investors have moved on from recent cryptocurrency setbacks, including scandals. The world's biggest cryptocurrency reached $52,749, a high since December 2021.
Private spaceship bound for the Moon, in test for US industry
A private US spaceship was bound for the Moon on Thursday, where it will attempt to land near the south pole and carry out experiments that pave the way for the return of American astronauts later this decade.
US retail sales slump more than expected in January
Retail sales in the United States fell more than analysts anticipated last month, bogged down by weak auto sales and lower gas prices, government data showed Thursday. Excluding the auto sector, retail sales fell 0.6 percent in January from December -- a development analysts attribute to higher rates on loans and the unwinding of pent up demand after supply chain problems were resolved.
Tractors gather in central Madrid in farmers' protest
Spanish farmers kept up their protests over the sector's troubles on Thursday, with tractors parked outside of the agriculture ministry in central Madrid before a meeting with Agriculture Minister Luis Planas.
IEA warns on plummeting oil stocks
The International Energy Agency warned Thursday of plummeting oil stocks even as global growth in demand loses momentum. "Global observed oil stocks plummeted by about 60 mb (million barrels) in January, preliminary data indicate, with on-land inventories falling to their lowest level since at least 2016," the IEA said in its latest monthly oil market report.
Brazil quake city families seek justice in Dutch court
Residents from a Brazilian city devastated by earthquakes caused by salt mining went to a Dutch court Thursday, seeking justice and compensation they say is impossible in Brazil. Once a city of one million people, life in Maceio has been upended by earthquakes in 2018 attributed to salt mining and subsequent cracks in streets and buildings.
AFP
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