Economy

Economy Latest News

US reverses Biden-era export controls on advanced AI chips
US reverses Biden-era export controls on advanced AI chips
by  AFP

The United States rescinded further export controls Tuesday on advanced computing semiconductors, answering calls by countries that said they were being shut out from crucial technology needed to develop artificial intelligence. Some US lawmakers feared the cap would have incentivized countries to go to China for AI chips, spurring the superpower's development of state-of-the-art technology.

Dutch climate group launches new case against Shell
Dutch climate group launches new case against Shell
by  AFP

Dutch environmental group Milieudefensie said Tuesday it was launching a new legal case against Shell, aiming to stop the fossil fuel giant investing in new oil and gas fields. In a letter to Shell, Milieudefensie accused the company of being "in breach of its legal duty of care under Dutch law due to its continued investment in new oil and gas fields."

US consumer inflation cooled in April to lowest level since 2021
US consumer inflation cooled in April to lowest level since 2021
by  AFP

US consumer inflation cooled slightly in April, figures showed Tuesday, coming in better than expected against a background of President Donald Trump's sweeping tariffs. The monthly figure was slightly below expectations, while the annual figure was in line with forecasts.

Europe's biggest 'green' methanol plant opens in Denmark
Europe's biggest 'green' methanol plant opens in Denmark
by  AFP

Europe's largest "green" methanol plant opened in Denmark on Tuesday, boosting the continent's emissions reduction efforts -- with customers ranging from shipping giant Maersk to toymaker Lego and pharmaceutical firm Novo Nordisk. The e-methanol will serve as fuel for Maersk ships, raw material for Lego's colourful plastic bricks and a component for Novo Nordisk's insulin injection pens.

Customer data stolen in Marks & Spencer cyberattack
Customer data stolen in Marks & Spencer cyberattack
by  AFP

British retailer Marks & Spencer said on Tuesday that some personal data of its customers was stolen in a cyberattack that has crippled its online services for weeks. "We are writing to customers informing them that due to the sophisticated nature of the incident, some of their personal customer data has been taken," the company said in a statement on Tuesday.