World
Elon Musk’s Twitter takeover sets him on a collision course with Europe
Thierry Breton, a former CEO of French IT consulting firm Atos, is seen as a key architect of the European Union’s digital reforms. Anadolu Agency | Getty Images After Elon Musk’s $44 billion deal to buy Twitter, EU officials have a message for the eccentric tech billionaire: follow the rules. Over the weekend, the European […]
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BMW, Audi suspend shipments by train to China due to Ukraine war
Spencer Platt | Getty Images News | Getty Images BMW and Volkswagen’s premium Audi brand have suspended shipments of cars by rail from Germany to China following the war in Ukraine, the German carmakers said on Tuesday. While both carmakers produce most of their vehicles in China, the world’s largest car market, a certain share is imported […]
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The UK has pledged to help India build its advanced fighter jets. Here’s why
Seen here with Indian Prime Minister Narendra Modi on Friday during a visit to India, British Prime Minister Boris Johnson was the first western leader to take steps to reduce Indian dependence on Russian arms. Both leaders called on Russia for an immediate ceasefire in Ukraine. Photo By Sonu Mehta/Hindustan Times via Getty Images| Hindustan […]
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UBS beats expectations for the first quarter; continues to reduce Russia exposure
UBS has beat expectations for the first quarter of 2022 and said it has further reduced its exposure to Russia. The Swiss bank on Tuesday reported net profit attributable to shareholders of $2.136 billion, above forecasts compiled by the bank of $1.79 billion. It marks a 17% rise from the $1.82 reported for the same period […]
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The threat of nuclear war is real, top Russian official says; U.S. wants to see Moscow ‘weakened’. Follow our live updates
Risk of nuclear war now ‘very, very significant,’ Russia’s foreign minister says Russian Foreign Minister Sergei Lavrov speaks during a news conference after his talks with Bahrain’s Foreign Minister Abdullatif al-Zayani in Moscow, Russia, April 7, 2022. Alexander Zemlianichenko | Reuters The risks of nuclear war are now very significant and should not be underestimated, […]
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Russia and India in talks to restart coking coal supplies: Reuters, citing sources
This photograph taken on April 6, 2022, shows coal stored outdoors at the National Thermal Power Corporation (NTPC) plant in Dadri, India. Russian and Indian officials met last week in an effort to resolve an impasse over the shipping of coking coal to Indian steelmakers, which has dried up since March over payment methods, a […]
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Investment banks slash expectations for China’s economic outlook — one sees GDP growth of less than 4%
Prolonged lockdowns in Shanghai have snarled supply chains and prompted banks to cut China GDP forecasts. Here, a truck leaves a port on April 13, 2022, with healthcare supplies for Shanghai. Tang Ke | Visual China Group | Getty Images BEIJING — In just about a week, several investment banks have cut their China growth […]
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Here’s what the world’s first floating city in Busan, South Korea, could look like
Artist rendering courtesy Oceanix, BIG-Bjarke Ingels Group. The United Nations, a floating city architecture firm called Oceanix, and the South Korean city of Busan on Tuesday unveiled the prototype for a floating, sustainable version of the key shipping hub. Floating cities could be a way to mitigate the effects of sea level rise caused by […]
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HSBC’s first-quarter profit slides as Ukraine conflict, inflation bite
Pedestrians walk past a HSBC Bank branch in Hong Kong. HSBC reported a 27% fall in quarterly profit on Tuesday, as the Asia-focused bank suffered from decreased revenues and slowing growth in Hong Kong. Budrul Chukrut/SOPA Images | Lightrocket | Getty Images HSBC reported a 27% fall in quarterly profit on Tuesday, as the Asia-focused […]
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Credit Suisse loves these tech stocks, says 3 have upside of more than 130%
Credit Suisse has named a raft of tech stocks it believes will outperform, saying all of them have more than 40% potential upside. Source
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