President Joe Biden, the Republicans and the US economy were on a disastrous collision course Tuesday after the White House made clear it will not negotiate over extending the nation's debt limit.. Republicans, who control the House of Representatives, insist they will only extend the debt limit if Biden first agrees to steep cuts in the federal budget.
The EU will put forward a plan to boost its production capacity of artillery shells to one million a year, officials said Tuesday, as it scrambles to arm Ukraine and refill its own stocks.. The EU has already pledged to spend 2 billion euros on providing Ukraine one million artillery shells over the next year by raiding stockpiles and placing joint orders.
Shares in companies that specialize in publishing school textbooks and offering online classes took a big hit on Tuesday after signs emerged that AI-bots such as ChatGPT were eating into their business.. Given the technology's untested nature, experts believe that the companies most vulnerable to AI for now are businesses that require little specialization - such as call centers or tutoring services as offered by Chegg and others.
A multi-continental crackdown has halted a major "dark web" drugs marketplace, with international police arresting 288 suspects and recovering more than 50 million euros ($54.8 million) in cash and virtual currency, Europol said Tuesday.. Police also recovered 50.8 million euros ($53.4 million) in cash and virtual currency and seized 850 kilos of drugs, mainly amphetamines and opioids, Europol and the DOJ added.
A bipartisan group of US lawmakers has urged securities regulators to require fashion upstart Shein to attest it does not use forced Chinese labor as a condition of a public offering.. "We request that you set forth regulations and mandate Shein to certify via independent verification that the company does not use Uyghur forced labor as a condition of being registered to issue securities in the United States."
The UAE's Emirates airline does not feel threatened by ambitious expansion plans in neighbouring Saudi Arabia and welcomes increased competition, its president said on Tuesday.. But Emirates president Tim Clark, who put the cost of the plans at $2.5-3 trillion, said there was a long way to go for Saudi airlines and other competitors, including Air India which ordered 470 Airbus and Boeing planes in February.
Pakistan's year-on-year inflation hit its highest-ever level of 36.42 percent in April, after the government introduced new taxes and raised fuel prices to try to meet International Monetary Fund (IMF) conditions for a crucial bailout.. Food prices were up by nearly 50 percent in April from a year earlier, with transport costs 57 percent higher.
Commemorative plates, towels and tea bags are vying for attention in shop windows near Buckingham Palace, ready for the first coronation of a British monarch in 70 years.. In the souvenir shops behind the palace, customers come in to browse an eclectic mix of royal memorabilia, looking to spend "£15 to £20", according to store manager Ismayil Vadakkethil.
The US Federal Reserve kicked off a two-day meeting Tuesday morning to decide whether to raise its benchmark lending rate for a 10th -- and possibly final -- time to tackle rising prices. . Futures traders also see a more than 95 percent chance that the Fed will raise its benchmark lending rate by 25 basis points on Wednesday, according to CME Group.
Uber shares rocketed higher early Tuesday after the ride-hailing and delivery company reported a jump in revenues amid rising demand.. Pointing to robust activity in numerous markets, the company reported a 29 percent jump in first-quarter revenues to $8.8 billion, with much higher gross bookings in both mobility and delivery.
