Economy
Gap between official, black markets widens as naira depreciation begins amid FX turnover decline
The Nigerian currency, the naira, is experiencing another round of depreciation following the fall in dollar supply in the official and parallel markets.
Ex-VW boss tells trial 'dieselgate' charges are 'implausible'
Former Volkswagen CEO Martin Winterkorn said Wednesday the charges against him were "implausible" as he testified at his trial over the "dieselgate" scandal that rocked the German auto titan. Winterkorn was CEO of Volkswagen -- whose brands range from Porsche and Audi to Seat and Skoda -- from 2007 until 2015, and resigned shortly after the scandal began.
Grenfell inferno 'culmination of decades of failure': UK inquiry
The UK's Grenfell Tower fire disaster that killed 72 people was the result of "decades of failure" by government and construction industry bodies and the "systematic dishonesty" of building material firms, a final report said Wednesday.
German car sales plunge in August as EV slump worsens
Sales of new cars plummeted in Germany in August, official data showed Wednesday, dragged down by a record fall in demand for electric vehicles in Europe's biggest auto market. The fall was led by a "historic decline" in sales of in battery-powered electric vehicles (EVs), the VDIK car importers' federation said, which plunged by 68.8 percent to just over 27,000 units.
Cathay flights to resume fully by Saturday after A350 repairs
Cathay Pacific said it will resume full operations by Saturday after replacing defective engine fuel lines on its Airbus A350 planes, a problem that had forced it to cancel dozens of flights this week. "Fifteen aircraft were identified with engine fuel lines that require replacement.
Hungry times for Istanbul's street food sellers
The enticing smell of grilled corn and chestnuts wafted from Hakan Deniz's red and gold food cart near a mosque in Istanbul's old city. "Our tomorrows are uncertain," said Deniz, 18, after pushing his cart past the Rustem Pasha mosque.
Asian markets plunge with Wall St after Nvidia rout, weak US data
Tech firms led a plunge across Asian markets Wednesday after a rout on Wall Street fuelled by a collapse in chip titan Nvidia and disappointing data on US factory activity that revived recession fears. That led Asian markets deep into the red.
Coal generates less than 50% of Australian electricity for first time
Coal generated less than 50 percent of Australia's electricity in the last week of August, dropping to a record low as renewable production surged, data showed Wednesday. According to market monitor Open-NEM, coal generated 49.1 percent of the country's electricity, while renewables accounted for 48.7 percent as storms boosted wind production.
Eco-friendly French cargo ship revives sail power
A French ship navigating past New York City to harbor laden with Champagne, Cognac and jam under sail might recall a long-forgotten age of wind navigation. But with the Anemos, the world's largest cargo sail ship, a French company is seeking to revive the eco-friendly and cost-effective technology to become a regular fixture on the high seas once again.
Economy
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