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Amazon pledges additional $13 bn in India AI investment

E-commerce giant Amazon announced on Thursday an additional $13-billion investment by 2030 to expand its artificial intelligence footprint in India, months after declaring plans to invest more than $35 billion.

Struggling VW to sell majority stake in marine engine unit

Volkswagen said Thursday that it would sell a majority stake in its marine engine unit to a US investment firm for 7.4 billion euros ($8.4 billion) as the struggling German carmaker pushes ahead with an overhaul.

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UK airline easyJet cuts losses on strong demand

British airline easyJet said Thursday it had slashed first-half net losses on strengthening demand from holidaymakers as the aviation sector recovers from Covid.

Walmart lifts forecast as it wins US grocery consumers due to inflation

Walmart raised its full-year profit forecast on Thursday following strong sales growth in the United States fueled by gains in grocery and other household staples.

S.Africa's blackouts force solar-powered town to life in the dark

A South African town has been left fuming after a legal battle with a state-owned power utility forced its solar plant to dump desperately needed electricity in a country suffering a record energy crisis.

UK telecoms firm BT to axe up to 55,000 jobs by 2030

British telecoms group BT said Thursday it will axe up to 55,000 jobs by the end of the decade in the latest tech jobs cull in response to rampant inflation.

LGBTQ activists condemn Japan's 'meaningless' equality bill

A new bill submitted to Japan's parliament on Thursday aimed at "promoting understanding" of equality issues has been criticised as a "meaningless gesture" by LGBTQ campaigners because lawmakers watered down its language.

UK touts $22 bn in Japanese investment as Sunak visits Tokyo

Prime Minister Rishi Sunak Thursday announced Japanese investment of more than $22 billion into the UK, but accepted carmakers' concern about Brexit trade rules as he confirmed talks with the European Union.

Sierra Leone leader urges end of Ukraine war for 'sake of humanity'

Sierra Leone's president expressed hope in an AFP interview that a new African mediation mission would help end Russia's war in Ukraine which has hit the "poorest of the poor" around the world.

UK's richest family patriarch Srichand Hinduja dead at 87

Srichand Hinduja, the tycoon who headed Britain's richest family, has died at the age of 87, a spokesman said.

Markets rally on US debt deal optimism

Asian and European investors on Thursday tracked a strong Wall Street rally, fanned by optimism over talks to avert a catastrophic US debt default.

China ends import ban on Australian timber

China has lifted an import ban on Australian timber, Beijing's ambassador said Thursday, hailing warming ties between the two countries.

Deutsche Bank to pay $75 mn in Epstein victim settlement: report

Deutsche Bank will pay $75 million to settle litigation alleging the German lender financially benefited from supporting Jeffrey Epstein's sex trafficking scheme, according to a report Wednesday.

Migrant girl, 8, dies in US custody at Texas border

An eight-year-old migrant girl died in US custody in Texas on Wednesday, a tragedy that tempered news of a sharp drop in attempted illegal crossings of the southern US border.

Micron reveals $3.6 bn Japan chip plan after PM meets execs

Micron said Thursday it will invest $3.6 billion to produce next-generation semiconductors in Japan, after Prime Minister Fumio Kishida held talks with some of the world's biggest chipmakers.

Asian markets rally with Wall St on US debt optimism

Asian investors on Thursday tracked a strong Wall Street rally, fanned by optimism over talks to avert a catastrophic US debt default.

'Could be your city': a Hiroshima atomic bomb survivor's warning

On August 6, 1945, four-year-old Masao Ito was riding a tricycle near his home in Hiroshima when a bomb fell from the sky and changed his life forever.

Private satellites give boost to public sector in climate fight

From satellites that can pinpoint the sources of industrial pollution, to others that track hurricane movements by the hour, space has emerged as a key front in the fight against climate change.

Netflix says ad-supported plan has nearly 5 mn users

Netflix on Wednesday wooed marketers with word that its nascent ad-supported plan has grown to nearly five million users globally.

Montana becomes first US state to ban TikTok

Montana on Wednesday became the first US state to ban TikTok, with the law set to take effect next year as debate escalates over the impact and security of the popular video app.

US stocks rally as Biden, McCarthy offer reassurances on talks

Wall Street stocks finished solidly higher Wednesday, shrugging off a mixed session in overseas markets on hopes for an agreement to avert a US debt default.

Syria's Assad to emerge from the cold at Arab League summit

Syrian President Bashar al-Assad will attend this week his first Arab League summit in 13 years, his foreign minister said Wednesday, signalling regional reintegration after more than a decade of war.

Dollar jumps, stocks advance as US debt talks plod on

Most stock markets and the dollar rose on Wednesday as investors track talks aimed at breaking an impasse over raising the US debt ceiling.

Fashion groups face new Uyghur forced labour complaint in France

Rights groups announced on Wednesday they had filed a new complaint in France against clothing giants including Uniqlo and Zara owner Inditex for allegedly profiting from forced labour of the Uyghur minority in China.

Dollar jumps, stocks waver on fears over US debt talks

The haven dollar climbed and global stock markets wavered Wednesday as investors fretted over the slow progress of talks seeking to raise the US debt ceiling.

Markets mixed as sluggish debt talks worry investors

Unease over the slow progress of US debt talks further dampened sentiment in equity markets on Wednesday, though Japanese stocks got a boost from forecast-beating economic growth data.

Water woes shake up Spain's election campaign

Concern over the future of Spain's Donana natural park, which is threatened by overfarming, has made water management a key issue ahead of local elections at the end of May.

'What I promised': Greek PM touts economy in re-election bid

To build a successful company in Greece, the CEO of the popular ship tracking firm MarineTraffic says he does not ask much from the government.

The second life of Hiroshima's origami cranes

At a hillside temple, a monk in saffron robes blows a refrain on a conch and begins chanting prayers as thousands of origami cranes donated to Hiroshima burn.

French court to rule in Sarkozy wiretapping corruption case

A French court of appeals will on Wednesday give its verdict in one of several corruption and illegal campaign financing cases involving ex-president Nicolas Sarkozy.

Asian markets mixed as sluggish debt talks worry investors

Unease over the slow progress of US debt talks further dampened sentiment in Asian markets Wednesday, though Japanese stocks got a boost from forecast-beating economic growth data.

Brazil 'finfluencers' bring finance to the favelas

With his tattooed arms, drop-fade haircut and baby-face looks, Murilo Duarte doesn't look like a typical financial adviser as he dishes out investment tips on social media from the Sao Paulo favela where he grew up.

Biden trims Asia-Pacific tour as hopes rise of debt deal

Joe Biden and opposition Republican leaders on Tuesday offered hope of a deal that could avoid a catastrophic US debt default, although the president was forced to shorten an upcoming Asia-Pacific tour for further crisis talks.

Japan economic growth beats expectations in first quarter

Japan's economy grew faster than expected in the first quarter, official data showed Wednesday, helped by a recovery in inbound tourism after pandemic border restrictions were lifted.

Arizona Tribune - Economy (English)