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Biden, Republican leader clash -- with US economy at stake

President Joe Biden and the new Republican speaker of the House of Representatives, Kevin McCarthy, face off Wednesday at the White House to discuss the US debt standoff -- but so far apart they can't even agree on how to describe their get-together.. - Budget brass tacks - The White House says it won't allow the current debt ceiling to be part of any negotiation on future government spending because that $31.4 trillion is money already agreed to by Congress.

5 days ago 3 mins read
Tech News
Arctic cold 'no sweat' for electric cars in Norway

Norwegian electric car owners have a word for the way they feel when they look nervously at their battery indicators while driving in subfreezing weather: "rekkevideangst", or "range anxiety".. With temperatures often falling below zero, rugged terrain and long stretches of remote roads, Norway may not seem like the most ideal place to drive an electric car, whose battery dies faster in cold weather.

5 days ago 3 mins read
Tech News
Lebanese villagers try to stem illegal logging scourge

Braving the bitter cold, Lebanese villagers have been patrolling a mountainside in the country's north, trying to protect trees from loggers who roll in under the cover of darkness. . Lebanon, whose flag bears a cedar tree, is known for its greenery, with forests covering 13 percent of the Middle Eastern country's territory, according to official data.

5 days ago 3 mins read
Tech News
Most Asian markets rebound from losses after Wall St rally

Most Asian markets bounced from two days of losses on Wednesday as traders tracked a Wall Street surge fuelled by data pointing to slowing US inflation and hopes the Federal Reserve's rate hike drive is coming to an end.. While they indicate the world's top economy is slowing, hope is building that the data will allow the central bank to wind down its rate hikes.

5 days ago 3 mins read
Tech News
ChatGPT maker fields tool for spotting AI-written text

Creators of a ChatGPT bot causing a stir for its ability to mimic human writing on Tuesday released a tool designed to detect when written works are authored by artificial intelligence.. US-based OpenAI said in a blog post Tuesday that its detection tool has been trained "to distinguish between text written by a human and text written by AIs from a variety of providers."

5 days ago 1 mins read
Tech News
Iraqi PM says banking reforms reveal fraudulent dollar transactions

Iraq's premier said Tuesday that new banking regulations had revealed fraudulent dollar transactions made from his country, as the fresh controls coincide with a drop in the local currency's value.. He said the new controls had been planned for two years, in accordance with an agreement between Iraq's central bank and US financial authorities, and deplored previous failures to put them in place. 

5 days ago 2 mins read
Tech News
Snap shares dive on bad quarterly results

Shares in Snapchat's parent company plunged more than 14 percent on Tuesday after it reported a loss in the final three months of last year on seemingly stalled revenue.. Facebook's parent Meta and Alphabet-owned Google, lions in the online ad market, are to report earnings this week.

5 days ago 2 mins read
Tech News
A US corporate scourge deflates the empire of Indian tycoon Adani

Nathan Anderson sees himself as a scourge of corporate manipulation, but some investors and business leaders see short-sellers like him as engaging in tactics more akin to Wall Street gunslinging for profit. . Anderson heads the New York-based short-seller Hindenburg Research, which profits as its attacks on Indian business tycoon Gautam Adani gain steam.

5 days ago 3 mins read
Tech News
Higher costs drag Caterpillar profits lower

Caterpillar reported a drop in profits Tuesday as higher costs and the drag from the strong dollar offset the lift from buoyant demand in industrial markets.. Caterpillar is looking for opportunities to pass on higher costs to consumers, while weighing what's feasible.

6 days ago 1 mins read
Tech News
Macron roils French sense of equality with pension reform

For opponents of France's pension reform, the proposed changes are about more than raising the retirement age: they're about an economic model seen as stacked in favour of the rich and a president viewed as too close to the wealthy.. The reform proposed by Macron would raise the retirement age for everyone to 64 from 62 and increase the number of years of work required to claim a full pension. 

6 days ago 3 mins read
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