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Global stocks rise after strong US retail sales, better UK inflation data
Wall Street stocks shrugged off early weakness and pushed higher Wednesday as they followed European bourses upward after strong US economic data. The gains by stocks "suggests perhaps that buyers were influenced more by the hopeful economic implications of the January retail sales data than its potentially adverse implications for monetary policy," said Briefing.com.
US tech bosses subpoenaed in Republican hunt for liberal conspiracy
US lawmakers issued subpoenas to top Silicon Valley executives on Wednesday as Republicans seek to establish an unproven conspiracy theory that Big Tech and the government have colluded to suppress conservatives' free speech.
Ford halts output of F-150 Lightning through at least next week
Ford plans to suspend production of its F-150 Lightning electric pickup truck through "at least" the end of next week, a company spokeswoman said Wednesday. "By the end of next week, we expect to conclude our investigation and apply what we learn to the truck's battery production process; this could take a few weeks."
World Bank chief David Malpass to step down early
World Bank chief David Malpass announced Wednesday he would step down nearly a year early from his position heading the development lender, amid questions over his climate stance. The head of the World Bank is traditionally an American, while the leader of the other major international lender in Washington, the International Monetary Fund, tends to be European.
World Bank chief David Malpass to step down
World Bank chief David Malpass announced Wednesday he would step down by the end of June from his position heading the development lender. In a note to staff seen by AFP, Malpass said: "Developing countries around the world are facing unprecedented crises and I'm proud that the Bank Group has continued to respond with speed, scale, innovation, and impact."
US aviation official pressed over January grounding
US aviation officials have taken steps to avert a repeat of January's emergency grounding, but a top regulator said Wednesday that a meaningful system upgrade won't be ready before 2025.
US risks debt default as soon as July: budget office
The United States risks defaulting on payment obligations as soon as July, if lawmakers fail to resolve a gridlock and raise the federal borrowing limit, according to Congressional Budget Office estimates Wednesday. "If the debt limit is not raised or suspended before the extraordinary measures are exhausted, the government would be unable to pay its obligations fully," the CBO warned Wednesday.
Jane Fonda urges Vienna Opera to cut ties with fossil fuel firms
US actress and activist Jane Fonda on Wednesday called on the Vienna Opera to end its partnerships with fossil fuel companies trying to "make themselves socially acceptable" by sponsoring cultural institutions while "killing the planet". "These fossil fuel companies are criminal, they are killing people, killing the planet," she told journalists.
Barclays bank shares tumble as bad loans surge
Shares in Barclays slumped as much as 10 percent Wednesday after the British bank announced a surge in bad loans alongside a drop in annual profits linked to US litigation charges. Barclays booked a charge of £500 million ($605 million) in the final quarter on soured loans linked to "macroeconomic deterioration".
AFP
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