Turkish President Recep Tayyip Erdogan signalled Wednesday that he would let his new economic team hike interest rates to combat inflation and stabilise the lira, reversing an era of unconventional policies.. Erdogan's comments suggest that the powerful Turkish leader has given his new team time to show that their more conventional economic policies work.
Shell plans to maintain oil production levels until 2030, the British energy giant said Wednesday, triggering an outcry from green campaigners who also slammed a big payout for shareholders.. "Our target of a reduction in oil production by 2030 has not changed.
Germany on Wednesday called China a "partner, competitor and systemic rival" in the release of its first national security strategy, accusing Beijing of repeatedly acting against the European giant's interests in a bid to reshape the global order.. "China is trying in various ways to remould the existing rules-based international order, is asserting a regionally dominant position with ever more vigour, acting time and again counter to our interests and values," the strategy paper said.
Global oil demand could peak before the end of this decade as the energy crisis has accelerated the transition to cleaner technologies, the International Energy Agency said Wednesday.. "The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance," IEA Executive Director Fatih Birol said in a statement.
The Federal Reserve will announce Wednesday if it will press ahead with an 11th straight interest rate hike to tackle high inflation or skip an increase to give policymakers more time to take stock of the US economy. . Alongside its interest rate announcement Wednesday, the Fed will also release updated economic forecasts.
European Parliament lawmakers will vote Wednesday to kickstart talks to approve the world's first sweeping rules on artificial intelligence systems like ChatGPT, aiming to curb potential harms while nurturing innovation.. Lawmakers have hailed the draft law as "historic" and pushed back against critics who say the EU's plans could harm rather than encourage innovation.
Asian investors pushed equities even higher Wednesday after data showed US inflation fell further last month, ramping up expectations the Federal Reserve will finally pause its interest rate hike campaign.. Traders are now pricing the chances of a rate hike on Wednesday at about 10 percent, with analysts saying bank boss Jerome Powell will try to drive home that the pause would not signal the end of tightening.
Researchers call them the "American blondes" -– bright-eyed environmentalists tweeting passionately in support of the UAE and its handling of the forthcoming COP28 climate summit.. When Romain Ioualalen, a campaigner from Oil Change International, tweeted about the risk that COP28 hosted by the Emirates "slows down the transition away from fossil fuels", he received several responses from some of the accounts identified as fakes by researchers.
A US federal judge on Tuesday temporarily blocked Microsoft from completing its $69 billion buyout of gaming giant Activision Blizzard, a court filing showed.. The ruling came a day after the FTC asked a federal court prevent Microsoft from completing its blockbuster buy of Activision Blizzard as it considers regulatory action.
French videogame titan Ubisoft is eyeing artificial intelligence and virtual reality as the next big things in gaming, its chief executive said, especially ahead of the release of Apple's new mixed reality headset.. Now, ahead of next year's release of Apple's Vision Pro headset, Ubisoft chief executive Yves Guillemot is ready to make another bet on the future of gaming -- that virtual reality is around the corner.
