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Trump says has 'no intention' of firing Fed chief
Trump says has 'no intention' of firing Fed chief
by  AFP

US President Donald Trump said Tuesday he had no plans to fire the Federal Reserve chief, in apparently conciliatory remarks after berating him and triggering market turmoil. The president does not have direct authority to fire Federal Reserve governors, but Trump could initiate a lengthy process to attempt to unseat Powell by proving there was cause to do so.

Jury finds New York Times did not libel Sarah Palin
Jury finds New York Times did not libel Sarah Palin
by  AFP

A US jury found Tuesday that The New York Times did not libel former Alaska governor and vice presidential candidate Sarah Palin in a 2017 editorial she claimed damaged her reputation, the paper said. Palin, a former governor of Alaska, was the running mate of Republican presidential candidate John McCain during his 2008 election defeat to Barack Obama.

Tesla says profits plunge 71%, warns of 'changing political sentiment'
Tesla says profits plunge 71%, warns of 'changing political sentiment'
by  AFP

Tesla reported a 71 percent drop in first-quarter profits Tuesday in results that lagged analyst estimates as Elon Musk's automaker warned of a hit to demand due to "changing political sentiment." The electric vehicle producer reported profits of $409 million following a drop in auto sales that analysts said reflected brand damage due to Musk's work for the Trump administration.

US Treasury chief expects China tariff impasse to de-escalate
US Treasury chief expects China tariff impasse to de-escalate
by  AFP

The trade standoff between Washington and Beijing is not sustainable, US Treasury Scott Bessent said Tuesday, predicting the tit-for-tat tariff war would de-escalate soon. Bessent told the event Tuesday that he expects a de-escalation in the near future, according to a person who was in the room.

Volkswagen unveils its electric counter-offensive in China
Volkswagen unveils its electric counter-offensive in China
by  AFP

The Volkswagen group on Tuesday unveiled a series of new vehicles and a driver assistance system built "in China for China", which it hopes will help reverse its declining fortunes in the world's largest car market. Volkswagen also presented a new generation of driver assistance "specifically designed for the complex traffic conditions in China".

ECB's Lagarde hopes Trump won't fire US Fed chief Powell
ECB's Lagarde hopes Trump won't fire US Fed chief Powell
by  AFP

European Central Bank chief Christine Lagarde said Tuesday that she hoped US President Donald Trump would not oust the country's central bank boss Jerome Powell prematurely. "I hope that a trade deal will be something that can be considered by both partners, the United States and China," Lagarde said Tuesday.