British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut. "The ingredients remain in place... to start cutting interest rates in the next few months," added Beck.
The head of the federal investigation into a troubled January flight on a Boeing 737 MAX jet blasted the aviation giant on Wednesday for not providing key information quickly. "Early in the investigation, we provided the NTSB with names of Boeing employees, including door specialists, who we believed would have relevant information," the company said.
Elon Musk's SpaceX on Wednesday announced it was eyeing March 14 as the earliest date for the next test launch of its giant Starship rocket, with which it hopes to one day colonize Mars. "The third flight test of Starship could launch as soon as March 14, pending regulatory approval," SpaceX posted on X, the social media platform also owned by Musk.
The EU is prepared to deploy its full arsenal to force big tech companies to change their behaviour online, the bloc's competition chief said Wednesday, the day before a sweeping new law comes into force. The competition commissioner pointed to a string of cases pursued against tech companies since 2014, to prove her point that Brussels means business.
The Kuwait-based Alshaya Group said on Wednesday it would cut jobs from its Starbucks Middle East franchise due to "challenging trading conditions" amid a boycott of Western brands over the Gaza war.
US lawmakers were set to vote Wednesday to end a long-running row over the federal budget with a giant bill to fund several major federal agencies through the fall, averting a partial shutdown due to start at the weekend.
The US Federal Reserve's progress in bringing down inflation is "not assured," the chair of the country's central bank told lawmakers in Washington Wednesday, on the first of two days of hearings in Congress. "But the economic outlook is uncertain, and ongoing progress toward our two percent inflation objective is not assured," he added.
Egypt secured an extra $5 billion in IMF loans on Wednesday, the two sides said, after the central bank hiked interest rates and allowed the pound to plunge by nearly 40 percent. The central bank described its move to hike interest rates Wednesday as an attempt to "accelerate the monetary tightening process in order to fast-track the disinflation path and ensure a decline in underlying inflation".
Thousands of angry farmers descended on the Polish capital on Wednesday to protest EU environmental rules and cheap imports from Ukraine and elsewhere outside the bloc.
Job gains in the US private sector picked up in February, payroll firm ADP said Wednesday, a sign that could give the Federal Reserve some pause as it mulls the timing of interest rate cuts. ADP said pay gains for those who changed jobs picked up for the first time in more than a year.
Economy
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