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Global stocks rise after strong US retail sales, better UK inflation data
Global stocks rise after strong US retail sales, better UK inflation data
Business and Economy
by  AFP

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.

World Bank chief David Malpass to step down early
World Bank chief David Malpass to step down early
Business and Economy
by  AFP

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 to step down
Business and Economy
by  AFP

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."