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UK inflation in shock rise, dashing rate cut hopes
British annual inflation unexpectedly picked up in December, data showed Wednesday, dashing hopes of an early cut to UK interest rates and prolonging a cost-of-living squeeze before an election. The BoE has lifted interest rates to a 15-year peak in a bid to dampen inflation, worsening a cost-of-living crisis as commercial lenders mirror the higher loan costs to businesses and consumers.
BP picks new CEO following Looney sacking
British oil giant BP on Wednesday named veteran employee Murray Auchincloss as chief executive officer following a period as interim boss in the wake of Bernard Looney's sacking. "BP announced today that the board has appointed Murray Auchincloss as chief executive officer with immediate effect," the group said in a statement, sticking to a policy of promoting from within.
Kerry says to work on climate after exiting envoy role
Veteran US diplomat and politician John Kerry said Wednesday he planned to keep working to address climate change including by encouraging the private sector as he steps away from his envoy role. "Now we have to make sure that the private sector people really step up," he said.
Argentina's 'anarcho-capitalist' president descends on Davos
Argentina's self-styled "anarcho-capitalist" leader, Javier Milei, will address the global elite in Davos on Wednesday as the eccentric libertarian seeks to restore confidence in his country's economy in his first trip abroad as president.
Markets fall on dimming rate cut hopes, China's torpid growth
Asian markets fell further Wednesday as hopes for an early interest rate cut by key central banks faded and data confirmed China's economy last year grew at its slowest pace in more than three decades. European markets were also down after hopes for a eurozone cut were dealt a blow by central bankers this week.
China sees one of its worst years of growth since 1990 as recovery stalls
China's economy last year grew at one of its slowest rates in more than three decades, official figures showed Wednesday, as it was battered by a crippling property crisis, sluggish consumption and global turmoil.
Bolivian toymaker restores limbs, dignity with 3D-printing
As a kid growing up in poverty in rural Bolivia, Roly Mamani built his own toys. Mamani funds the endeavor with the money he makes from selling robotic toys he makes -- his other passion, which, after building his first remote-controlled toy car as a child, he never abandoned.
Google eliminates hundreds of jobs in ad team tweak
Google on Tuesday confirmed it is eliminating "a few hundred" positions from its global ad team, amid a push to use artificial intelligence for efficiency and creativity. Expansion of small business ad teams at Google was expected by the company to result in increased hiring this year.
Apple ends Samsung's 12-year run as world's top smartphone seller
Apple's iPhone for the first time became the world's biggest selling smartphone after rival Samsung's 12-year run as leader, data showed. They also pointed to an increasingly fragmented market for smartphones that run on the Android operating system, citing low-end Samsung rivals such as Transsion and Xiaomi as well as Honor and Google.
AFP
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