US consumer inflation edged down in February but remains elevated, according to government data released Tuesday, adding pressure to the Federal Reserve as it balances its inflation fight with financial stability concerns.. The consumer price index (CPI) rose six percent from a year ago, below January's figure and in line with expectations, according to Labor Department data released Tuesday.
Google on Tuesday began letting some developers and businesses access the kind of artificial intelligence that has captured attention since the launch of Microsoft-backed ChatGPT last year.. And Microsoft chief Satya Nadella is expected to showcase how the company is integrating ChatGPT-like artificial intelligence into its widely used business software at a special event on Thursday.
Taiwan unveiled its first portable attack drone on Tuesday, an unmanned aerial vehicle similar to a US model used in Ukraine's fight against Russia, as China steps up military pressure on the island.. The military-run National Chung-Shan Institute of Science and Technology (NCSIST) on Tuesday showed off its new loitering munition drone, which is similar to the US-made Switchblade 300 currently used by Ukrainian soldiers.
More than a million artworks were put up for auction for the first time in 2022 despite a gloomy global economy, according to a report released on Tuesday.. More than a million artworks were put up for auction, and 704,747 sold -- both records -- with Christie's seeing six works that surpassed $100 million each.
Credit Suisse acknowledged Tuesday "material weaknesses" in its internal controls as the scandal-hit Swiss bank released its annual report, which was delayed following queries from US regulators regarding its books.. The bank's report said that its "internal control over financial reporting was not effective" for 2021 and 2022.
The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected. . Traders and analysts who had previously predicted that the Fed would increase the pace of hikes to tackle inflation have now dialed back their expectations, with some saying the US central bank will hold its benchmark rate next week due to the troubles in the banking sector.
Sitting near a wall of stacked rocks, fisherman Mustagfirin looks out to sea from the tiny Indonesian island of Pari, wondering whether his home will exist for much longer.. My ancestors, my parents, my children, and even my grandchildren were all born here," said Mustagfirin, who like many Indonesians goes by one name.
With over 100 active volcanos, Japan has the world's third largest geothermal resources, but also a powerful industry that has steadfastly opposed developing the sector: hot springs.. But the hot springs or onsens that dot Japan are a major business, beloved by locals and tourists alike, and the industry fears developing geothermal might mean water levels and temperatures drop at their facilities.
With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators.. Banking experts have been among those alarmed at the rapid collapse of SVB, the country's 16th biggest bank by assets and how its demise became a harbinger of Sunday's failure of another lender, Signature Bank.
Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.. Equity markets were well in the red in early Asian trade Tuesday, with Tokyo, Sydney and Seoul almost two percent down, while Hong Kong, Shanghai, Singapore and Taipei suffered hefty selling.
