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Nvidia boss criticises 'cheap' AI doomsday warnings

AI chip giant Nvidia's boss Jensen Huang said on Thursday that warnings artificial intelligence could wipe out humanity were "cheap" attempts to grab headlines.

Stocks retreat as tech mood sours, oil prices jump

Equities sank Thursday as tech firms resumed their downward spiral following a mixed bag of earnings from Wall Street titans, while sentiment was also soured by rising oil prices.

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US hiring shows surprise surge as unemployment falls

Hiring in the United States picked up pace in April and unemployment returned to the lowest level in decades, government data showed Friday, defying expectations of a slowdown despite higher interest rates.

HSBC defeats proposal to split bank

HSBC on Friday comfortably defeated an activist proposal supported by its largest stakeholder, the Chinese insurer Ping An, that sought to split the bank in a search for better returns.

Germany considers electricity price cap for industry

Germany's Economy Minister Robert Habeck on Friday presented plans to cap the price of electricity used by energy-intensive industries to insulate the sector against sharp cost increases, but the proposal immediately sparked criticism.

HSBC seeks to keep bank intact as shareholders vote on split

HSBC faced a vote by shareholders Friday over an activist proposal supported by the bank's largest stakeholder, Chinese insurer Ping An, to split the business as they seek better returns.

Europe stocks rebound from losses before US data

European stock markets rebounded slightly Friday before key US payrolls data, after the previous session's sharp losses driven by interest rate hikes and banking sector woes.

Sister tells of 'heartbreak' over Kenya cult member accused of starving kids

When Roseline Asena's younger brother quit drinking after joining a Kenyan church run by now notorious cult leader Paul Nthenge Mackenzie, she hailed the self-proclaimed pastor for "saving" him from the clutches of alcoholism.

Maduro accuses Biden administration of 'looting' Venezuelan oil firm

Venezuelan President Nicolas Maduro on Thursday accused US President Joe Biden's government of "looting" over the proposed sale of Caracas' most valuable overseas asset, oil refiner Citgo.

German recession fears rise as factory orders plummet

Industrial orders at German factories saw their biggest fall in March since the outbreak of the Covid pandemic in 2020, data showed Friday, the latest sign that Europe's biggest economy is facing a steep downturn.

'Beautiful Corolla': Afghanistan's enduring love affair with Toyota

Little is certain in Afghanistan -- armies invade and retreat, governments rise and fall -- but when the key of a Toyota Corolla turns in the ignition, the engine can be relied upon to roar to life.

HSBC faces shareholder vote on splitting bank

Bank giant HSBC faces a vote by shareholders on Friday over a proposal by its largest stakeholder, Chinese insurer Ping An, to split the business to seek better returns.

Asian stocks mixed after slide on Wall Street

Asian stocks were mixed on Friday following a slide on Wall Street driven by renewed fears of banking sector turmoil.

'Beautiful Corolla': Afghan love affair with Toyota endures the ages

Little is certain in Afghanistan -- armies invade and retreat, governments rise and fall -- but when the key of a Toyota Corolla turns in the ignition, the engine can be relied upon to roar to life.

Rising star rides Mexican music's wave of success

A fast-rising young Latin music star is helping a Mexican musical genre that has courted controversy by glamorizing drug traffickers to take global charts by storm.

Rising iPhone sales help Apple beat forecasts

Apple on Thursday said iPhone sales and money made from services powered quarterly earnings that beat forecasts, despite inflation pressure and the slowing global economy.

US regional banks sink again as reassurances fall flat

Shares of PacWest Bancorp were in free fall Thursday after the lender's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

Bernie Sanders pushes for $17-an-hour US minimum wage

Leftist US senator Bernie Sanders announced a bill Thursday to raise the national minimum wage to $17 an hour, reigniting the battle for better pay standards as workers see pandemic-era gains erased by runaway inflation.

UN short $24 mn to prevent Yemen oil spill

The United Nations is short nearly $24 million needed to safely remove oil from an abandoned tanker off Yemen's coast, officials said Thursday, urging donors to stump up the remaining funds.

W. House says tech giants have 'moral' duty on AI

The White House on Thursday told the CEOs of US AI giants that they have a "moral" responsibility to protect society from the potential dangers of artificial intelligence.

Italian FM cancels trip in fresh migrant spat with Paris

Italy's foreign minister cancelled a trip to Paris Thursday after a French minister criticised Rome's migration policy, in a fresh spat over the contentious issue between the two nations.

PacWest latest target as US regional bank shares dive again

Shares of PacWest Bancorp were in free fall Thursday after the bank's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

BuzzFeed, Vice woes signal crisis in digital-only media

With the closure of BuzzFeed News and bankruptcy looming at Vice, the once promising world of free digital media finds itself at a crossroads, seeing ad revenues dry up at the same time as disappointed investors begin walking away.

Nestle faces mineral water problems in drought-hit France

Global food and beverage giant Nestle said Thursday that it would stop extracting from two mineral water wells in eastern France due to drought and increasingly unpredictable weather conditions.

ECB slows rate hikes but signals more needed in inflation fight

The European Central Bank delivered a smaller interest rate hike Thursday as higher borrowing costs begin to take their toll, but said it had "more ground to cover" in fighting red-hot inflation.

Stocks slide after Fed, ECB deliver rate hikes

European and US stocks slid Thursday after the ECB and the Fed again hiked interest rates to fight elevated inflation, while hinting the next move could be a pause.

Africa eyes potential bounty from space

After decades on the sidelines, African countries are venturing into the space industry, hoping to reap rewards in agriculture, disaster prevention and security.

ECB slows rate hikes, but says inflation still 'too high'

The European Central Bank delivered a smaller interest rate hike Thursday as higher borrowing costs begin to take their toll, but said the inflation outlook remained "too high for too long".

Asian markets rise after shrugging off US rate hike

Asian markets rose on Thursday, shrugging off the sour mood surrounding the Federal Reserve's announcement that it was raising interest rates yet again and likely keeping them high for the foreseeable future.

Microsoft expands AI access to public

Microsoft on Thursday expanded public access to its generative artificial intelligence programs, despite fears that tech firms are rushing ahead too quickly with potentially dangerous technology.

Taking the high road: India infrastructure drive counters China

Freshly laid roads, bridges, upgraded military camps, and new civilian infrastructure dot the winding high Himalayan route to the Indian frontier village of Zemithang -- which China renamed last month to press its claim to the area.

Asian markets mixed after US fed hikes rates again

Asian markets were mixed in early trade on Thursday, after the Federal Reserve soured the mood on Wall Street by not only raising rates but also indicating that it would not cut them any time soon.

ECB expected to slow pace of rate hikes

The European Central Bank is expected to hike interest rates again Thursday to fight inflation but at a slower pace, as higher borrowing costs take their toll and banking sector fears resurface.

India's growing population a burden for struggling mothers

Married off by her parents at 14, Indian mother-of-seven Jaimala Devi kept having children because her husband insisted she could only stop once she had given birth to two sons.

The Fort Worth Press - Economy (English)