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Author's articles
'Artificially high' growth predicted for China in Q2: survey
China's economic growth is expected to have surged in the second quarter, an AFP survey has forecast, but analysts say Monday's figures will be misleadingly inflated given the low base of comparison with pandemic-wracked 2022. But this figure is "artificially high because of the low base" in 2022, said Gene Ma from the Institute of International Finance.
Stars hit Hollywood sidewalks as anger at studios simmers
Honking horns, simmering heat, a smattering of stars, and a lot of anger at Disney boss Bob Iger.
'Stunning' cache of gold coins found in Kentucky cornfield
A trove of more than 700 gold coins dating back to the US Civil War found buried in a cornfield in the state of Kentucky is being put up for sale and is expected to reap millions. "The stunning number of over 700 gold dollars represents a virtual time capsule of Civil War-era coinage," Garrett said in a statement.
Nations call for swift fossil fuel exit to tackle climate change
The world needs an "urgent" exit from fossil fuels as part of efforts to slash planet-heating emissions and rein in global warming, a coalition of countries including EU economies and climate-vulnerable nations said Friday. That has prompted some countries to call for a decision at COP28 to entirely phase out planet-warming fossil fuels from the global energy mix.
UN rights council calls for AI transparency
The UN Human Rights Council on Friday called for transparency on the risks of artificial intelligence and for the data harvested by AI to be used responsibly. It also calls for the use of data in AI systems to be in line with international human rights law.
US banks caution on economy as Fed rate hikes boost earnings
Results of large US banks released Friday underscored the boon from higher interest rates, as executives described the world's biggest economy as "resilient" but facing risks. Net interest income (NII), which accounts for the gap between revenues for higher interest rate charges on clients minus the hit from higher interest payments to depositors, jumped 44 percent to $21.9 billion.
Ericsson and Nokia feel squeeze of interest rates hikes
Interest rate hikes are forcing mobile operators to scale back investment in 5G networks, with equipment manufacturer Ericsson reporting Friday a rare net quarterly loss and Nokia lowering its outlook. Network equipment makers feel the pain when mobile phone operators scale back investment in 5G networks, with Ericsson reporting Friday a rare quarterly net loss and Nokia lowering its outlook.
Burberry sales jump on China boost
British luxury fashion house Burberry on Friday logged a jump in quarterly sales on surging demand in China after the key market lifted Covid restrictions. "In all, this update represents a strong base for the year on which Burberry can build," said Richard Hunter, head of markets at Interactive Investor.
Singapore issues arrest notice for billionaire in rare graft probe
Singapore's powerful anti-graft body issued an arrest notice for one of the city-state's richest people, his company said Friday, widening a probe into rare high-level corruption. Ong, in his late 70s, was allowed to travel overseas from Friday and will surrender his passport to the anti-graft body upon his return, the company said.
AFP
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