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US Fed official lauds 'very good' progress on inflation
The US Federal Reserve's fight against inflation seems to be heading in the right direction, while the US economy remains resilient, a senior Fed official said Wednesday. Inflation at the consumer level has slowed sharply since peaking last summer but it remains elevated, while the economy is showing signs of continued resilience.
Finland gas pipe likely damaged by 'mechanical force': police
Finnish authorities on Wednesday said the leak leading to the shutdown of a natural gas pipeline from Estonia to Finland appeared to have been caused by "mechanical" force and not a blast. It will take at least five months to repair the pipeline, its operator said Wednesday, which will leave Finland totally dependent upon liquefied natural gas imports for the winter.
Mali cancels Air France clearance to resume flights: officials
Mali's ruling junta has cancelled the authorisation given to Air France to resume flights to the country, two senior officials and an air transport official said Wednesday. The air transport official confirmed that "authorisation has been cancelled", without providing further details.
World Bank needs to get 'better', 'bigger': president
The World Bank's new president, Ajay Banga, said Wednesday that the global lender must become "better" and "bigger" to boost its capacity to help developing countries battle climate change, poverty and pandemics. He said poverty, pandemics and climate change were "almost like a perfect storm" that can no longer be treated separately.
German economy to shrink in 2023, govt says
The German government slashed its growth forecast Wednesday, predicting Europe's top economy will shrink this year as it battles high inflation, elevated energy prices and a manufacturing slump. In their forecasts Wednesday, the government predicted the economy would pick up next year with growth of 1.3 percent, and expand by 1.5 percent in 2025.
UK businesses ask for help after rise in shoplifting
British businesses are seeking government help as shops suffer an unprecedented number of thefts and violence by criminal gangs, addicts and people struggling with a cost-of-living crisis. Its latest crime report stated that 79 percent of represented retailers believed the cost-of-living crisis had caused an increase in theft.
ExxonMobil to buy Texas shale producer Pioneer for about $60 bn
ExxonMobil sealed a megadeal to acquire Pioneer Natural Resources for about $60 billion, bolstering its holdings in the Permian Basin, a key US petroleum region, the companies announced Wednesday. Both ExxonMobil and fellow US petroleum behemoth Chevron have invested heavily in the region in recent years.
EU's tech 'sheriff' turns to X rival in disinfo duel with Musk
The EU's top internet enforcer took to X, the rebranded Twitter, on Wednesday to trumpet a rival platform, as a duel with Elon Musk over disinformation ratcheted up.
Qatar signs 27-year gas supply deal with France's Total: state energy firm
Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on Wednesday. Qatar will supply 3.5 million tonnes of gas a year under the deal, QatarEnergy said, following two agreements with Total last year for a share of the Gulf state's huge North Field gas expansion project.
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