Economy
US to sell off strategic gasoline reserves in northeast
The US Department of Energy announced Tuesday that it will sell off a million barrels of gasoline from a small strategic reserve in the northeast, paving the way for its closure.
Nasdaq edges to fresh record ahead of Nvidia results
The Nasdaq climbed to a fresh record Tuesday following a choppy session after a smattering of mixed earnings and muted Federal Reserve commentary. The tech-rich Nasdaq Composite Index finished at 16,832.62, up 0.2 percent for the day and a record for the second straight session.
Istanbul's century-old streetcar gets a makeover
Istanbul's emblematic red and white trams, built over 100 years ago and loved by both locals and tourists, are about to give way to a more modern streetcar. Not all locals, however, feel the same about the new streetcars.
Natural disasters hit 1 in 5 US adults' finances in 2023: Fed
Almost 20 percent of adults in the United States were financially impacted by natural disasters last year, the Federal Reserve said Tuesday, marking a nearly 50-percent rise from 2022. This was up sharply from 13 percent in 2022, with some of the biggest changes seen in the West of the country, where the percentage of people noting a financial impact from natural disasters almost doubled.
Platinum loses shine amid BHP's vast Anglo bid
Platinum prices are rising due to tight supplies although the metal has fallen out of favour as miner Anglo American seeks to offload assets and fight a vast takeover bid from Australian rival BHP. The metal is used in the manufacture of catalytic converters for high-polluting petrol engines -- but demand has long been forecast to slump as more drivers switch to greener electric cars.
Progress in US inflation fight 'has likely resumed': Fed official
Progress in the US Federal Reserve's fight against inflation "likely resumed" last month, a senior bank official said Tuesday, adding that additional rate hikes were probably unnecessary.
IMF cautions on timing of UK rate cut
The International Monetary Fund on Tuesday said the Bank of England should be mindful over when to start cutting interest rates or risk harming an economy recently out of recession. "As monetary policy reaches an inflection point, the timing and pace of rate cuts must carefully balance the risks of premature and delayed easing," the IMF cautioned in its latest outlook document.
Trump vows to sue over explosive biopic
Donald Trump's team has vowed to sue over a biopic about his early years that includes rape, erectile dysfunction and ruthless betrayal, but the makers said on Tuesday the film allowed viewers to feel "sympathy" with the ex-president. With that comes sympathy.
Sanofi allies with OpenAI, Formation Bio for AI use in drug development
French pharmaceutical company Sanofi announced Tuesday a partnership with ChatGPT-founder OpenAI and US biotech firm Formation Bio to accelerate the use of artificial intelligence in developing drugs. By combining their resources, the three companies "can reimagine drug development in the pharma industry," said Benjamine Liu, chief executive of Formation Bio.
Economy
Load more