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China lockdown hits Uniqlo parent's first-quarter profit
Fast Retailing, the parent company of Japanese clothing giant Uniqlo, said Thursday its net profit for the first quarter slid 9.1 percent because of the Covid-19 lockdown in China. "(The) result was due primarily to a large decline in profits at our Uniqlo operation in the mainland China market caused by Covid-19 restrictions on movement," the company said in a statement.
Analysts expect slowing US inflation, fueling hopes of less hawkish Fed
Consumer inflation in the United States is set to ease further in December, analysts say, in an encouraging trend that could bring some reprieve from rising interest rates. But analysts expect the consumer price index (CPI), a key inflation gauge, to flatline between November and December in figures due to be released Thursday.
UAE names oil chief as president of COP28 climate talks
The head of the United Arab Emirates' national oil company was named Thursday as president of this year's COP28 climate talks, prompting fierce criticism from environmental activists. Sultan Ahmed al-Jaber, who heads up the UAE's Abu Dhabi National Oil Company (ADNOC), will be the first CEO to take the role at the UN summit, said a statement carried by the official WAM news agency.
Asthma study sparks debate about safety of cooking with gas
New research that links cooking with natural gas to around 12 percent of childhood asthma cases has sparked debate about the health risks of kitchen stoves, as well as calls in the United States for stepped-up regulation. A report released Monday used the same calculation to link 12 percent of childhood asthma to gas cooking in the European Union.
Asian markets rise on optimism ahead of US inflation data
Asian markets rose Thursday as traders grew confident ahead of data later in the day that is expected to show another softening of US inflation, giving the Federal Reserve room to slow its pace of interest rate hikes.
Blame the voting machines: Brazil riots fit global pattern
Mobs of rioters who stormed Brazil's seats of power raised conspiracy-laden slogans against voting machines, a prime target of disinformation campaigns seeking to undermine trust in electoral systems around the world. However, paper ballots were returned the following year after sustained disinformation campaigns eroded public trust in the machines.
ChatGPT bot 'for professional use' on the way
Hot startup OpenAI on Wednesday initiated a waitlist for a professional and paid version of its software ChatGPT, which has sparked debate about artificial intelligence and the future of work. OpenAI late last year released its free version of the ChatGPT chatbot that is capable of answering questions so well that it reopened the debate on risks linked to artificial intelligence (AI) technologies.
Pharma lobby blasts 'stupid' pandemic patent plans
Stripping patent protection from Covid-19 treatments is a "mind-bogglingly stupid" idea, the head of a leading pharmaceutical lobby said Wednesday, warning that the move would put industry innovation at risk. Therefore, an IP waiver "potentially undermining what worked so well in this pandemic is basically mind-bogglingly stupid", Cueni said.
Crisis-hit Egypt's currency halved in value since March
The Egyptian pound traded Wednesday at half its value from March after the central bank intervened for a third time as part of an International Monetary Fund loan agreement. The currency plunged to 31.95 pounds to the dollar in state banks on Wednesday, before settling at 29.7 in the afternoon, according to the central bank.
AFP
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