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'Weak tea': Climate scientists push back against COP28 cheer
'Weak tea': Climate scientists push back against COP28 cheer
Economy
by  AFP

A UN climate deal that approved a call to transition away from fossil fuels has been hailed as a major milestone and a cause for at least cautious optimism. "The agreement to 'transition away from fossil fuels' was weak tea at best," he told AFP. "It's like promising your doctor that you will 'transition away from donuts' after being diagnosed with diabetes.

Brazil cuts interest rate another half-point
Brazil cuts interest rate another half-point
Economy
by  AFP

Brazil's central bank cut its key interest rate by half a point for the fourth straight time Wednesday, continuing the easing President Luiz Inacio Lula da Silva hopes will spur Latin America's biggest economy.

BP sacks former CEO for 'serious misconduct'
BP sacks former CEO for 'serious misconduct'
Economy
by  AFP

BP on Wednesday denied its former chief executive of more than £32-million ($40-million) payout because of his failure to disclose past personal relationships with colleagues. A year earlier, Brian Krzanich stepped down as chief executive of US computer chip giant Intel over a "past consensual relationship" with an employee in violation of the company's non-fraternisation policy. phz/srg/cw

Pfizer shares tumble on disappointing 2024 profit outlook
Pfizer shares tumble on disappointing 2024 profit outlook
Economy
by  AFP

Pfizer issued a disappointing 2024 forecast Wednesday, denting shares as the company navigates a profound plunge in sales tied to the Covid-19 pandemic. The company, which reported more than $100 billion in revenue in 2022 due to the lift from Covid-19 vaccine and therapeutic sales, sees 2024 revenues of between $58.5 billion and $61.5 billion, according to its presentation.