Economy

Climate change is improving French wine -- for now
Climate change is improving French wine -- for now

What makes a good or bad year for wine? But the paper argues that because there is broad consensus about what makes good versus bad wine, the taste scores offer a reliable means to monitor how crops are changing over time -- and they attempted to statistically control for the effects of improving winemaking technology.

US Fed agreed to hold interest rates high 'for some time': minutes
US Fed agreed to hold interest rates high 'for some time': minutes

US Federal Reserve officials agreed last month they should hold interest rates high "for some time" in their ongoing fight against inflation, according to minutes of the meeting published Wednesday. "All participants agreed that policy should remain restrictive for some time until the Committee is confident that inflation is moving down sustainably toward its objective," the minutes showed.

US Fed official lauds 'very good' progress on inflation
US Fed official lauds 'very good' progress on inflation

The US Federal Reserve's fight against inflation seems to be heading in the right direction, while the US economy remains resilient, a senior Fed official said Wednesday. Inflation at the consumer level has slowed sharply since peaking last summer but it remains elevated, while the economy is showing signs of continued resilience.

Finland gas pipe likely damaged by 'mechanical force': police
Finland gas pipe likely damaged by 'mechanical force': police

Finnish authorities on Wednesday said the leak leading to the shutdown of a natural gas pipeline from Estonia to Finland appeared to have been caused by "mechanical" force and not a blast. It will take at least five months to repair the pipeline, its operator said Wednesday, which will leave Finland totally dependent upon liquefied natural gas imports for the winter.

Mali cancels Air France clearance to resume flights: officials
Mali cancels Air France clearance to resume flights: officials

Mali's ruling junta has cancelled the authorisation given to Air France to resume flights to the country, two senior officials and an air transport official said Wednesday. The air transport official confirmed that "authorisation has been cancelled", without providing further details.

World Bank needs to get 'better', 'bigger': president
World Bank needs to get 'better', 'bigger': president

The World Bank's new president, Ajay Banga, said Wednesday that the global lender must become "better" and "bigger" to boost its capacity to help developing countries battle climate change, poverty and pandemics. He said poverty, pandemics and climate change were "almost like a perfect storm" that can no longer be treated separately.