Red Bull announced on Tuesday its first foray into the exclusive world of the hypercar with a limited production run of 50 starting in 2025.. Production on the two-seater hybrid V8 engine producing over 1100bhp will be at Red Bull's Milton Keynes site.
The US economy will slow this year as intended and is expected to avoid a downturn, but the Federal Reserve will have to raise borrowing rates quickly, a top central bank official said Tuesday.. "I'm expecting growth to slow this year quite a bit relative to what we had last year," with GDP expanding by 1.0 to 1.5 percent, he said.
Moody's ratings agency has confirmed that Russia defaulted on its foreign debt for the first time in a century, after bond holders did not receive $100 million in interest payments.. "On 27 June, holders of Russia's sovereign debt had not received coupon payments on two eurobonds worth $100 million by the time the 30-calendar-day grace period expired, which we consider an event of default under our definition," Moody's said.
At the Mellach coal power plant in southern Austria, spider webs have taken over the conveyor belts, and plants and flowers have sprung up around the vast lot that once stored coal.. Some 450,000 tonnes of coal were stored at the plant before its closure as Austria's conservative-Greens coalition aimed to have all electricity come from renewable resources by 2030.
Asian markets mostly fell Tuesday as investors struggled to maintain a recent rally while weighing central banks' inflation-fighting rate hikes and the possibility of a recession.. But the global advance fizzled Monday in New York, and on Tuesday, Asian investors ran out of puff.
The board of directors at Brazilian oil giant Petrobras on Monday approved President Jair Bolsonaro's pick to be the state-controlled company's chief.. Caio Paes de Andrade will be the company's fourth president in less than four years.
Lower sales in North America and China dented Nike's quarterly results as the sports giant on Monday projected modest revenue growth amid the strong dollar, rising inflation and other headwinds.. Friend also said the forecast reflects a drag from the strong dollar in overseas markets, as well as the continued hit from lofty freight costs and supply chain investments.
Taiwan's GlobalWafers on Monday unveiled plans to establish a massive plant in northern Texas to produce a component vital to making semiconductors with an investment of up to $5 billion.. "We are at a make-or-break moment to expand domestic semiconductor production," she said.
Five emerging powers have become the object of the G7 industrialised powers' charm offensive, as the club of rich nations seeks broader support in their backing for Kyiv.. And a scramble for energy by Western powers seeking to wean themselves off Russian energy has further pushed up power prices -- once again hitting the poorest hardest.
Russia acknowledged Monday that two interest payments on its debt didn't make it to creditors, an event which could be considered a default, even if Moscow disputes such an interpretation. . The Committee has already acknowledged earlier this month that Russia did not make $1.9 million in penalty interest payments concerning a different payment due.
