US consumer inflation slowed in March, according to data released Wednesday, but remained well above the Federal Reserve's target level despite numerous interest rate hikes over the last year.. Still, several commentators noted that the inflation rate remains much above the Fed's two percent target, while adding that prices for gasoline and many household items stand above pre-pandemic levels, weighing on households.
UK police have launched an investigation into the nation's CBI business lobby group over allegations of sexual misconduct.. The CBI dismissed Danker following an independent investigation into workplace misconduct against him.
President Joe Biden's administration unveiled new proposed auto emissions rules Wednesday, aiming to accelerate the electric vehicle transition with a target of two-thirds of the new US car market by 2032.. The head of the Environmental Protection Agency (EPA), Michael Regan, described the measure as the "strongest ever federal pollution standards for cars and trucks," saying his department's new policy would "accelerate the ongoing transition to a clean vehicles future."
Twitter boss Elon Musk said running the social media network has been "quite a rollercoaster" and acknowledged "many mistakes" along the way, six months after he bought the company for $44 billion.. Musk, in assessing his time in charge of the social media network since he took over in October, said it had been "a stressful situation over the last several months".
Volvo Group's shares were up seven percent Wednesday after the Swedish truck-maker posted record first-quarter earnings, in a sign of an easing of supply chain disruptions and high costs that have plagued the auto industry.. In January, the truck-maker reported a slightly lower profit for 2022, despite a rise in sales, and warned that the "global supply chain for components is still unstable."
It's early morning in the picturesque village of Naoussa on the Greek island of Paros, and jackhammers are already echoing as locals ready for what they hope will be a record tourist season.. "The tourist season this year will be the best ever," said Paros mayor Markos Kovaios, with the island's permanent population of 15,000 increasing five fold last summer.
Asian markets were mixed Wednesday as traders jockeyed ahead of US inflation data that could play a key role in the Federal Reserve's interest rate decision-making.. Analysts said the next few days could play a key role in market sentiment as Wednesday's consumer prices report will be followed by data on wholesale prices Thursday, then the start of the corporate reporting season on Friday.
Elon Musk is advancing an artificial intelligence project at Twitter despite recently calling for an overall pause in developing such technology, US media reports said Tuesday.. The Insider report came less than two weeks after Musk joined experts in signing a letter calling for a hiatus in the development of AI. The open letter, published on the website of the Musk-funded Future of Life Institute, urged a six-month pause in development of powerful AI systems.
Fallen US biotech star Elizabeth Holmes is to begin serving prison time this month after a judge denied her request to remain free while appealing her fraud conviction.. She is scheduled to begin serving her time in prison on April 27.
President Joe Biden on Tuesday called Russia's imprisonment of US journalist Evan Gershkovich on spying charges "totally illegal" and told The Wall Street Journal reporter's family he was working for a release.. Gershkovich, an experienced reporter for The Wall Street Journal in Russia, was detained in Yekaterinburg, some 1,100 miles (1,800 kilometers) east of Moscow on March 29.
