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US Senate passes bill to boost domestic chip manufacturing
The US Senate passed a bill on Wednesday to boost domestic production of semiconductors, the in-demand microchips that power everything from smartphones to cars to weapons. The version of the CHIPS Act passed Wednesday provides $39 billion to finance semiconductor manufacturing plants in the United States and another $13 billion for research.
UK sea levels rising quicker than century ago: study
Sea levels are increasing around Britain at a far faster rate than a century ago while the country is warming slightly more than the global average, leading meteorologists said Thursday. Meteorologists noted in the report that sea levels over the last three decades had increased in some places at more than double the rate recorded at the start of the 1900s.
China lockdown, chip shortage hit Nissan profits
Japanese car giant Nissan said on Thursday that net profit sank nearly 60 percent in the three months to June as pressures including a lockdown in Shanghai and chip shortages weighed on business. "Nissan's challenge is how to minimise the impact of the chip shortage and sell attractive new cars, including those recently released," he said.
Macron hosts Saudi crown prince despite rights outrage
French President Emmanuel Macron is hosting Saudi Arabia's Crown Prince Mohammed bin Salman for talks in Paris on Thursday, defying criticism that the invitation is deeply inappropriate barely four years after the murder by Saudi agents of journalist Jamal Khashoggi.
Asia, Europe track post-Fed surge on Wall St but caution urged
Asian and European markets rose Thursday following a surge on Wall Street fuelled by hopes that the Federal Reserve could slow its pace of inflation-fighting interest rate hikes. The prospect of a slower pace of rate hikes weighed on the dollar against most other currencies, and on Thursday it hit its lowest level against the yen since July 6.
Insecurity, inflation deepen malnutrition in Nigeria's northwest
Lariya Abdulkareem's family used to make a living farming beans and sorghum at a village in Nigeria's northwest Katsina state. Farmers outside working fields just outside Katsina city said the price of seeds for stables sorghum, millet and groundnut have doubled since the start of the year.
Indebted Evergrande looks to sell Hong Kong headquarters again
Troubled Chinese property developer Evergrande has found a potential buyer for its Hong Kong headquarters, reports said Thursday, days before an expected announcement of the firm's long-awaited restructuring plans. But on Thursday, Hong Kong Financial Secretary Paul Chan said the difficulties of Chinese developers would have a "very limited" impact on the financial hub's banking stability.
US GDP data due with all eyes on possible recession
The United States is set to release key data on economic growth Thursday and global investors are watching closely as the world's largest economy flirts with recession -- while President Joe Biden walks a political tightrope. Nevertheless, the International Monetary Fund downgraded its growth forecast for the United States earlier this week -- and said a recession may already have begun.
'A dirty game': Young Kenyans shun election hype
As a familiar campaign jingle brings the Kenyan crowd to their feet, Hellen Atieno joins her compatriots and sways to the catchy tune at a political rally in the lakeside city of Kisumu.
AFP
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