Economy
Switzerland moves towards cashless future with instant payments
Switzerland's new instant payment system will bolster the future of cashless payments in the country, the Swiss central bank said Wednesday after the scheme went live. The central bank said the first institutions had already launched retail offerings enabling customers to send instant payments, with further banks to follow in the coming months.
Rise in UK borrowing narrows budget options for new govt
UK government borrowing jumped by far more than expected in July, official figures showed Wednesday, stoking fresh anxiety for the new Labour government ahead of its first budget in just over two months. Public sector net borrowing reached £3.1 billion ($4 billion) last month, the highest July figure since 2021 and well above expectations, the Office for National Statistics (ONS) said.
Asia tracks Wall St lower as traders pause Fed-fuelled rally
Asian equities sank Wednesday as traders take a breather from a global rally that has been fuelled by expectations the Federal Reserve will cut interest rates next month. And while traders are taking a step back for now, observers are optimistic that with more rate reductions on the way, equities have further to go.
Australia approves world's 'largest' solar hub
Australia on Wednesday approved plans for a massive solar and battery farm that would export energy to Singapore, a project dubbed the "largest solar precinct in the world". "It will be the largest solar precinct in the world –- and heralds Australia as the world leader in green energy," said Environment Minister Tanya Plibersek.
Boeing suspends 777X flight tests after part failure
Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of a part connecting the engine to the body of the aircraft, the manufacturer told AFP on Tuesday. The part that brought about the suspension of flight testing is custom to the 777-9 model, and connects the engine to the aircraft structure, Boeing said.
New 'Call of Duty' and 'Borderlands 4' games announced at leading show
The release dates for new episodes of the "Call of Duty" and "Borderlands" video games were announced Tuesday at the opening of the Gamescom showcase. "Call of Duty: Black Ops 6" will be released on October 25.
Divers search Sicily yacht wreck with UK tech boss among missing
Divers spent a second day Tuesday searching for six people believed trapped when a luxury yacht sank off the Italian island of Sicily, including a British tech tycoon, colleagues and his teenage daughter. "This is a large, luxurious superyacht that has founded quite quickly in a touristy, well-known sailing area off Sicily.
Senegal sets up commission to review oil and gas deals
Senegal's new authorities have set up a commission of experts to "rebalance" oil and gas contracts, Prime Minister Ousmane Sonko said, following an election pledge to renegotiate hydrocarbon agreements. The new authorities say the contracts signed by the former government are unfavourable to the country.
What is fate of 22 people aboard capsized yacht?
The British-flagged luxury yacht The Bayesian capsized early Monday off the coast of southern Sicily with 22 people aboard. Frenchman Matthew Griffith, 22, is also said to have survived.
Economy
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