Economy
US Fed chair says confidence inflation will ease 'not as high as it was'
Federal Reserve chair Jerome Powell said Tuesday that hot US inflation data has lowered his level of confidence that price rises will slow back down towards the bank's long-term target.
Authorities raid Goodyear sites in Europe over burst tyre deaths
Investigators searched three European sites belonging to American tyre giant Goodyear Tuesday, French prosecutors said, as part of an involuntary homicides probe into crashes caused by burst truck tyres. All were caused by the front left tyre bursting, causing the drivers to lose control, according to investigators.
US to raise tariffs on $18 bn of China imports including chips
The United States is hiking tariffs on $18 billion worth of Chinese imports, targeting strategic sectors like electric vehicles, batteries, steel and critical minerals, the White House said Tuesday.
China tech giant Alibaba posts modest yearly revenue growth
Chinese e-commerce giant Alibaba announced Tuesday a modest increase in annual revenue, as the firm pursues a major overhaul and regulatory curbs on the country's tech sector are relaxed. China's tech sector has suffered under a regulatory crackdown by Beijing that began in 2020, prompted in part by the government's fears that too much power and capital had been amassed by a few firms.
A gloomy season for Ethiopia's 'green gold' at the khat market
"We call it green gold," says Ramadan Youssouf, a khat trader in the Ethiopian town of Aweday, one of the largest markets in the world for the mildly narcotic shrub. Many of the bundles from the Aweday market will make their way to Wajale, a border town straddling Ethiopia and Somaliland -- a breakaway region of Somalia.
Anglo American to split group after rejecting BHP bid
Anglo American to split group after rejecting BHP bid
Foxconn reports sharp rise in first-quarter net profit
Taiwanese tech giant Foxconn on Tuesday reported a 72 percent jump in net profit during the first three months of 2024 compared to the same period last year as demand for investment in AI technology grows.
Uber to buy Delivery Hero's Foodpanda in Taiwan for US$950 mn
Ride-hailing giant Uber said Tuesday it has reached a deal with Delivery Hero SE to buy its Foodpanda delivery business in Taiwan for US$950 million. The companies have also reached a separate agreement for Uber to buy US$300 million in newly issued ordinary shares of Delivery Hero, according to the statement. aw/dhc/dan
Sony net profit dips on-year but beats estimate
Sony said Tuesday that annual net profit dipped 3.5 percent on-year but beat its forecast as takings in games and music offset losses in the financial and chip sectors. For the current financial year, Sony forecast net profits of 925 billion yen.
Economy
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