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Business
Billionaire tech mogul Elon Musk has told investors he plans to build a supercomputer dubbed "gigafactory of compute" to support the development of his artificial intelligence startup xAI, an industry news outlet reported Saturday.Musk wants the supercomputer -- which will string together ...
The Palestinian Authority is facing the possibility of financial collapse, the World Bank said in a report Thursday, as revenue streams run dry and economic activity drops precipitously against the backdrop of the Gaza war."The fiscal situation of the Palestinian Authority has dramatically wors...
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The United States said Tuesday it was deeply troubled by increasing violence and intercommunal tension in Myanmar's Rakhine state and said this raised the risk of atrocities being committed.Clashes have rocked Rakhine since the Arakan Army (AA) attacked security forces in November, ending a ceas...
World
The White House said Friday that it had not seen any surprising advance in relations between China and Russia despite Vladimir Putin exchanging a hug with Xi Jinping on a visit to Beijing."Exchanging hugs? Well, that's nice for them," National Security Council spokesman John Kirby told...
US President Joe Biden’s administration formally proposed on Thursday reclassifying marijuana as a less dangerous drug, a historic shift that would bring federal policy more in line with public opinion.“No one should be in jail merel for using or possessing marijuana. Period,&rdquo...
The United States on Thursday said Chinese President Xi Jinping cannot both improve ties with the West and support Russia after he vowed to boost relations with his counterpart Vladimir Putin.“The People’s Republic of China can’t have its cake and eat it too,” State Departmen...
The US military reported Thursday a slight drop in cases of sexual assault in its ranks, a first in almost 10 years and on the heels of Pentagon reforms.Prevalence fell five percent in fiscal year 2023 compared to the previous year, from 8,924 to 8,515 cases reported to the US Department of Defense,...
The IMF said Wednesday that its board had voted to allow member states' IMF-issued international reserve assets to be used by multilateral development banks (MDBs) to acquire financial instruments that would stretch their balance sheets further.The International Monetary Fund said in a statement...
The Palestinian economy is estimated to shrink by 26.9 percent after seven months of war, with the poverty rate surging, said a new United Nations Development Programme (UNDP) assessment released Thursday.The estimates, released with the Economic and Social Commission for Western Asia, also found th...
Meetings, interviews, fundraising events, official travel: Joe Biden tried this week to be everywhere at once while his rival Donald Trump was held up in court.It was a tactical campaign move by an 81-year-old president who faces mixed polls and nagging questions about his age. Since last Monday, Tr...
The US House of Representatives on Saturday approved long-delayed military aid to Ukraine in a rare show of bipartisan unity, while also bolstering Israel and Taiwan defenses and threatening to ban Chinese-owned TikTok.The four bills in the $95 billion package were overwhelmingly approved in quick s...
Two people were killed and six others wounded in a shooting at a block party on Saturday in the US city of Memphis, local police said.Two people were found deceased at the scene, and one of the six wounded "remains in critical condition" at an area hospital, the Memphis Police Department w...
The US House of Representatives is poised to hold a crucial vote on Saturday on a major aid package for Ukraine, Israel and Taiwan -- and a possible ban of TikTok.The votes on the $95 billion foreign aid and arms bills are expected to begin at 1:00 pm (1700 GMT), and embattled Republican Speaker Mik...
The International Monetary Fund announced on Friday the immediate disbursement of $820 million to the Egyptian government, part of an augmented plan to aid the nation's stumbling economy.The IMF's Executive Board validated the payment as part of a $3 billion aid program granted at the end of...
The US military said Friday it had struck three underground storage facilities used by Yemen's Huthis, as the Iran-backed rebels continue to launch attacks on shipping in the Red Sea.US forces "conducted self-defense strikes against three Huthi underground storage facilities in Iranian-back...
The US Department of Justice sued Apple on Thursday, accusing the tech giant of illegally maintaining a monopoly for its iPhone by stifling competition and imposing exorbitant costs on consumers.The lawsuit, also brought by multiple US states, said Apple raked in hundreds of billions of dollars by a...
The International Monetary Fund's executive board confirmed Thursday it will disburse $880 million to Ukraine in the third phase of a $15.6 billion aid package to support the country's war-torn economy. "Russia's invasion of Ukraine continues to bring enormous social and econom...
The US Federal Reserve is widely expected to keep its key lending rate unchanged again on Wednesday, as policymakers continue discussions over when to start rate cuts and launch the next phase in their long-running battle against inflation. The Fed has raised interest rates to a 23-year high of...
Global oil demand is forecast to grow more than expected due to a brighter US economic outlook and rising fuel needs of ships rerouted away from the Red Sea, the International Energy Agency said Thursday. Commercial ships have been taking longer and costlier journeys around the southern tip of ...
US regulators unveiled fines of almost $350 million Thursday against US bank JPMorgan Chase for what they called inadequate trade reporting and surveillance.The fines, levied by the US Federal Reserve and the Office of the Comptroller of the Currency (OCC), relate to issues with the US banking giant...
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