Economy
Progress in US inflation fight 'has likely resumed': Fed official
Progress in the US Federal Reserve's fight against inflation "likely resumed" last month, a senior bank official said Tuesday, adding that additional rate hikes were probably unnecessary.
IMF cautions on timing of UK rate cut
The International Monetary Fund on Tuesday said the Bank of England should be mindful over when to start cutting interest rates or risk harming an economy recently out of recession. "As monetary policy reaches an inflection point, the timing and pace of rate cuts must carefully balance the risks of premature and delayed easing," the IMF cautioned in its latest outlook document.
Trump vows to sue over explosive biopic
Donald Trump's team has vowed to sue over a biopic about his early years that includes rape, erectile dysfunction and ruthless betrayal, but the makers said on Tuesday the film allowed viewers to feel "sympathy" with the ex-president. With that comes sympathy.
Sanofi allies with OpenAI, Formation Bio for AI use in drug development
French pharmaceutical company Sanofi announced Tuesday a partnership with ChatGPT-founder OpenAI and US biotech firm Formation Bio to accelerate the use of artificial intelligence in developing drugs. By combining their resources, the three companies "can reimagine drug development in the pharma industry," said Benjamine Liu, chief executive of Formation Bio.
NGOs seek climate trial of French oil giant TotalEnergies
NGOs filed a criminal complaint against French oil giant TotalEnergies and its top shareholders in Paris on Tuesday, seeking a trial for involuntary manslaughter and other consequences of climate change "chaos". The complaint was filed at the Paris judicial court, which has environmental and health departments, three days before TotalEnergies holds its annual shareholders meeting.
Traders sell dollars at new rates as naira recovers for second day amid rise in FX reserves
The Nigerian currency, the naira, appreciated against the dollar for the second day after three weeks, following an increase in foreign exchange turnover.
Sick of tourists, Japan town blocks view of Mt Fuji
A Japanese town mounted a large mesh barrier at a popular viewing spot for Mount Fuji on Tuesday, in an attempt to deter photo-taking by an ever-growing number of tourists. Residents near other popular photo spots in the region, including the so-called Fuji Dream Bridge, have also reportedly complained about overtourism in recent weeks.
Asian markets slump as traders take profits, eye commodities' spike
Asian markets suffered a downturn Tuesday after racking up a series of gains as profit-takers stepped in, while traders were also spooked by a surge in commodity prices. After a mildly positive day in New York, where the Nasdaq hit a record high and the Dow ended down from Friday's record, Asian investors were cautious as they eyed rising commodity prices.
Parent company of Trump's Truth Social posts $328 mln loss
Trump Media and Technology Group, which owns former US president Donald Trump's social media platform Truth Social, lost more than $300 million in the first quarter of 2024, it said Monday. Over the quarter, TMTG -- whose primary asset is the Truth Social network founded by Trump after he was kicked off Twitter and Facebook in 2021 -- generated just $770,500 in sales.
Economy
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