Economy
US power company admits it might have started huge Texas fire
A US power company admitted Thursday that its equipment may have sparked the largest wildfire in Texas' history. It is not uncommon for US power companies to be blamed for destructive wildfires.
Swiss look at using Russian assets for Ukraine reparations
Swiss lawmakers on Thursday narrowly backed moves towards allowing the use of frozen Russian state assets to fund war reparations in Ukraine. It would be aimed at allowing frozen funds from an aggressor's central bank, or assets of its state-owned companies, to be legally transferred to an attacked state.
Pornhub platform sues over EU content law
Porn site Pornhub is challenging the European Union's landmark digital content law, arguing it does not meet the criteria to come under stricter rules, its parent company said Thursday. Pornhub has filed a challenge with the General Court of the EU in Luxembourg, its parent company Aylo said in a statement.
US rate cuts 'can and will' start this year if trends continue: Fed chair
The US Federal Reserve "can and will" begin cutting interest rates this year if current economic trends continue, the head of the US central bank told lawmakers in Washington Thursday.
Biden to push higher corporate tax in key political speech
US President Joe Biden is expected to raise pressure Thursday on major corporations and wealthy individuals, calling for them to pay more in taxes in his State of the Union speech.
UN, France co-host first forum to decarbonise construction sector
France warned Thursday that the world's construction sector was not on track to decarbonise by 2050 as it co-hosts with the UN Environment Programme the first ever conference aimed at reducing the industry's impact on climate change. "The sector is not on the right path to decarbonise by 2050," the ministry said.
Saudi says 8% Aramco stake transferred to PIF wealth fund portfolio
Saudi Arabia on Thursday said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's PIF sovereign wealth fund, according to state media. Last year, four percent of Aramco's shares, worth tens of billions of dollars, were transferred to Sanabil Investments, a firm controlled by the PIF, one of the world's biggest sovereign wealth funds.
New German strike round snarls rail, air traffic
Hundreds of thousands of passengers in Germany faced travel misery Thursday as rail and airport workers staged new strikes to back demands for higher wages. - 'No longer reliable' - Rail employees have been staging repeated strikes to demand a pay rise to help members manage the higher cost of living in light of inflation.
Niger isolated and suspicious despite end of sanctions
It's been two weeks since the lifting of tough sanctions on military-ruled Niger, but the pace of economic recovery is slow and the generals have shown no inclination to re-open the border with Benin and seek a diplomatic settlement with neighbouring nations. Economic pragmatism, however, suggests that borders should soon be opened.
Economy
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