Economy

Economy Latest News

Markets boosted by hopes for deal to end US shutdown
Markets boosted by hopes for deal to end US shutdown
by  AFP

Equities rallied Monday on hopes that the US government shutdown could be nearing an end after reports said lawmakers had reached a deal to break the record-breaking 40-day impasse. The US president told reporters that "it looks like we're getting close to the shutdown ending".

The AI revolution has a power problem
The AI revolution has a power problem
by  AFP

In the race for AI dominance, American tech giants have the money and the chips, but their ambitions have hit a new obstacle: electric power. All this cash has helped alleviate one initial bottleneck: acquiring the millions of chips needed for the computing power race, and the tech giants are accelerating their in-house processor production as they seek to chase global leader Nvidia.

BBC chief resigns after row over Trump documentary
BBC chief resigns after row over Trump documentary
by  AFP

The director general of the BBC announced his resignation Sunday following a row over the editing of a documentary about US President Donald Trump. Tim Davie and the broadcaster's head of news, Deborah Turness, resigned after accusations that a documentary by its flagship Panorama programme had edited a speech by Trump in a misleading way.

UPS grounds its MD-11 cargo planes after deadly crash
UPS grounds its MD-11 cargo planes after deadly crash
by  AFP

UPS said Friday that it had grounded its fleet of MD-11 cargo planes, after one of them was involved in a deadly crash in Kentucky this week. "Out of an abundance of caution and in the interest of safety, we have made the decision to temporarily ground our MD-11 fleet," UPS said.

At COP30, nations target the jet set with luxury flight tax
At COP30, nations target the jet set with luxury flight tax
by  AFP

France, Spain and Kenya are among a group of countries spearheading a drive at the COP30 climate summit for a new tax on luxury air travel, a source close to the matter told AFP. Rooted in the idea that a small elite of premium flyers should pay more for their outsized contribution to global warming, the proposal will likely pit them against the powerful aviation industry.