Economy
Engine maker Rolls-Royce to axe up to 2,500 jobs
Rolls-Royce, the British manufacturer of aircraft engines, said Tuesday it plans to axe up to 2,500 jobs worldwide, or about six percent of its staff, to further slash costs. Away from aircraft engines, Rolls-Royce is engaged in developing small nuclear reactors that could provide power on the Moon, thanks to funding from the UK Space Agency.
Remaking an old Swedish oil depot into a giant underground 'thermos'
Work lights strung up along railings illuminate a dank cavern where workers are preparing to transform a former oil depot into a hot water "thermos" to heat a Swedish town. "We are now converting it into a giant thermos to store hot water in," explained project manager Rickard Svensson at power and district heating company Malarenergi in the city of Vasteras.
“Apply now: African Development Bank announces paid internship opportunities, lists criteria
The African Development Bank (AfDB) has announced paid internship positions for students, lasting from three to six months, with a chance of potential employment.
Israel-Hamas tensions hit world's biggest book fair
The Israel-Hamas war is set to overshadow the Frankfurt Book Fair this week after the postponement of a Palestinian author's award ceremony sparked condemnation from top writers and the withdrawal of several Arab groups.
Apple CEO Tim Cook makes surprise visit to China
Apple chief Tim Cook made a surprise visit to China this week, greeting gamers in the southwestern city of Chengdu as his company faces slumping phone sales in its biggest market. During a visit in March to Beijing, Cook said his company enjoyed a "symbiotic" relationship with China.
EU to seek virtual elimination of fossil fuels at COP28
The EU will seek a global phase-out of fossil fuels and for their use to reach a peak in this decade, according to the member states' common position adopted unanimously late Monday.
Most Asian markets rise as Biden prepares for Middle East trip
Asian markets mostly rose Tuesday and oil was subdued as Joe Biden prepared for a trip to the Middle East aimed at preventing the Israel-Hamas conflict spilling over into a regional conflagration. "The price action doesn't reflect an improvement in investors' outlook for the Israeli conflict, rather the absence of a significant escalation," Ian Lyngen, at BMO Capital Markets, said.
Xi, Putin to freshen decade-long friendship at Beijing summit
Ten years after toasting a budding friendship with vodka and cake, Xi Jinping and Vladimir Putin will meet again in Beijing this week seeking to further deepen the "no-limits" partnership between their two countries. The two countries describe their relationship as a "comprehensive strategic partnership" that has "no limits" on potential cooperation.
Ford executive chair calls for end of auto strike
Auto giant Ford's executive chairman on Monday urged workers to end their month-long strike, warning a prolonged stoppage could have a major economic impact. On Monday, Ford appealed to workers to band together against competitors like Japanese carmakers Toyota and Honda, as well as Chinese automakers -- in asking for an end to the strike.
Economy
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