Economy
Foxconn reports 33% rise in fourth-quarter net profit
Taiwanese tech giant Foxconn on Thursday reported a 33 percent jump in net profit during the final three months of 2023, marking the second straight quarter of growth for the Apple supplier. The boost came on the heels of two consecutive quarterly misses -- with January-March seeing a drop of 56 percent and a one percent fall in the following three months.
Boom times for Myanmar opium farmers as coup chaos bites
In a remote corner of Myanmar a line of farmers move through a field of nodding poppies, making small cuts in the greenish-purple pods to release opium resin. "I can only know about my region of poppy fields," he said.
Asian markets mixed as traders eye US data, looming Fed meeting
Asian markets were mixed Thursday after a tepid day on Wall Street, with traders looking forward to a string of US data that could help sway Federal Reserve officials ahead of their policy meeting next week. Asian traders also moved cautiously.
SpaceX poised for third launch test of Starship megarocket
SpaceX plans on Thursday to attempt another launch of Starship, the world's most powerful rocket that is vital to NASA's plans for landing astronauts on the Moon later this decade -- and Elon Musk's hopes of eventually colonizing Mars. But the clock is ticking down for SpaceX to be ready for NASA's planned return of astronauts to the Moon in 2026, using a modified Starship as the lander vehicle.
UK to ban foreign state ownership of British newspapers
The UK announced Wednesday that it plans to bar overseas governments from owning British newspapers, a move that could scupper the contentious Abu Dhabi-led takeover of the Telegraph Media Group. The announcement sparked an uproar in British media circles and the UK government quickly opened a formal probe into the sale on public-interest grounds.
US urges Panama to remove flag from rogue Iranian ships
A United States special envoy on Wednesday urged Panama to stop Iranian ships from flying its flag, which allows Tehran to evade sanctions imposed by Washington. According to Paley, at least six ships flying the Panamanian flag have violated these sanctions since January.
Brazil revs up for jolt of hybrid car investments
Brazil is charging up for a hybrid revolution as global car manufacturers race to pump billions of dollars into the development of green vehicles in Latin America's biggest economy. Toyota, which has bet bigger on hybrids than fully electric cars, announced it would pump $2.2 billion into Brazil until 2030.
Yellen says US unlikely to see 'stagflation'
The United States is not expected to see stagflation, Treasury Secretary Janet Yellen said in an interview broadcast Wednesday, adding that most forecasters expect inflation to cool as housing costs move lower. While it takes time for changes to filter into inflation measures, she stressed that she has "every expectation" housing costs will move down this year, easing price pressures.
IMF officially process to find new managing director
The International Monetary Fund officially launched the selection process to find the organization next leader on Wednesday, with current managing director Kristalina Georgieva widely tipped for a second five-year term.
Economy
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