Economy
New York ruling deals Trump business a major blow
The sweeping punishment meted out Friday by a New York judge on Donald Trump and his family business deals a serious blow to the former president in his longtime home market. New York Attorney General Letitia James has emphasized the chicanery exercised by Trump and his sons in the business, saying Friday that Trump was "finally facing accountability for his lying, cheating and staggering fraud."
WTO chief insists global trade body still counts
The head of the World Trade Organization insisted Friday the WTO was still relevant as it prepares for its main gathering with few major deals on the table. WTO members' trade ministers have their biennial meeting in Abu Dhabi from February 26-29, at which they could put the final touches to a further fisheries deal.
US Fed should be patient as rate cuts considered: official
The US Federal Reserve should "resist the temptation to act quickly" as it contemplates the right time to begin interest rate cuts, a senior bank official said Friday. "We will need to resist the temptation to act quickly when patience is needed and be prepared to respond agilely as the economy evolves," she added.
London Fashion Week blends tweed and Y2K amid economic gloom
From tweed to the iconic low-rise jeans of the early 2000s, London Fashion Week unveiled a spectrum of styles on Friday, kicking off its 40th season which has been dimmed by the UK's gloomy economy. And while it remains less prestigious than Paris or Milan, London Fashion Week is celebrated for being freer, more radical, and less formulaic.
US wholesale prices rose more than expected in January
US wholesale prices rose more than expected in January, according to government data published Friday, as services costs were lifted by a jump in the index for hospital outpatient care. The "major factor" behind the rise in the services index was the 2.2 percent monthly rise in hospital outpatient care, while a range of other services also rose, the Labor Department said in a statement.
Russian invasion catalyst for renewables in Ukraine: minister
The wartime destruction of its coalmines and several of its power plants are proving a catalyst for Ukraine's renewable energy transition, said the country's Energy Minister German Galushchenko. The minister said moves towards wind and solar power, coupled with the war's impact on classic energy infrastructure, means that "the green transition should be implemented faster than we expected."
'Resilient' Africa set for growth rebound: ADB
Africa saw the pace of economic growth sag last year as inflation continued to rise but is set to rebound this year, the African Development Bank said Friday. While economic growth slowed to 3.2 percent last year, from 4.1 percent in 2022, according to the ADB's calculations, this still makes it the world's second-fastest-growing region after Asia.
UK bank NatWest shakes off CEO turmoil as profits jump
British bank NatWest on Friday said net profit jumped nearly a third in 2023 on higher interest rates, adding that Paul Thwaite would become permanent chief executive following boardroom turmoil. - Shares surge - The bank on Friday added that operating pre-tax profit came in at £6.2 billion, the highest since 2007, or eve of the crisis.
EU rules policing digital content kick in Saturday
Digital companies will have nowhere to hide after the EU's landmark content law enters into full force from Saturday, with the risk of heavy fines for any violations. The EU will officially be able to hit companies with sanctions, including fines, for any violations from Saturday.
Economy
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