News

Beijing has broadened a crackdown on tech platforms, targeting more US-listed companies after ordering the removal of ride-sharing group Didi Chuxing from Chinese app stores in a move that sent tech shares tumbling. The Cyberspace Administration of China on Monday announced it was investigating Boss Zhipin, an online recruitment company, and Chinese truck-hailing apps Yunmanman
0 Comments
Former Minneapolis police officer Derek Chauvin was sentenced to more than 22 years in prison on Friday for the murder of George Floyd, whose death became a watershed moment in the national debate over race and policing.  The 270-month sentence handed down by Judge Peter Cahill was 10 years longer than state guidelines had suggested,
0 Comments
US President Joe Biden said he had reached a deal with a bipartisan group of senators on an infrastructure spending package worth about $1tn, a major step towards enacting one of his top economic priorities. Biden announced the agreement to reporters outside the White House on Thursday, after meeting with the moderate senators who forged
0 Comments
Stocks on Wall Street had their worst week in nearly four months after comments from Federal Reserve policymakers that signalled the US central bank was acutely aware of budding inflationary pressures. The benchmark S&P 500 slid 1.3 per cent on Friday, taking its losses for the week to 1.9 per cent. Roughly 90 per cent
0 Comments
Global stocks continued a steady descent from record highs reached earlier in the week and the dollar strengthened after the US central bank brought forward the anticipated timing of its first post-pandemic interest rate rise. The FTSE All-World index of developed and emerging market stocks, which hit a closing record on Monday, headed for its
0 Comments
Federal Reserve officials expect to start raising interest rates in 2023, earlier than previously forecast, according to new economic projections that predicted faster growth and sharply higher inflation this year. At the end of its two-day policy meeting on Wednesday, the US central bank kept its main interest rate on hold at the rock-bottom range
0 Comments
US president Joe Biden has tapped Lina Khan, a prominent critic of the power of large technology companies, to chair the Federal Trade Commission, according to a person familiar with the matter. Biden’s decision elevates the 32-year old Columbia University Law School professor to a powerful antitrust role in his administration, as lawmakers in Congress
0 Comments
The Biden administration is considering an investigation into whether imports of rare earth magnets made largely in China pose a national security threat that could warrant the imposition of tariffs. The White House said the commerce department would examine whether to probe neodymium magnets, which are used to manufacture everything from smartphones to electric vehicle
0 Comments
Bill Ackman has already once tried — and failed — to redefine the Spac. Now he is trying again. The hedge fund manager’s special purpose acquisition company, Pershing Square Tontine Holdings, which raised $4bn last year, was not just the largest blank-cheque vehicle ever launched. It did away with some of the perks for founders,
0 Comments
Narendra Modi, Indian prime minister, has announced that his government will offer Covid-19 vaccines to all citizens for free, reversing a much-derided policy requiring India’s states to buy their own jabs at higher prices. India, the world’s largest vaccine manufacturer, has for weeks been battling a severe shortage of jabs. Thousands of British tourists are
0 Comments
Europe risks falling behind the US and China in efforts to decarbonise unless it legislates for a radical expansion of renewable energy, said leaders of the bloc’s chemicals and wind power industries. This would require a shake-up of national planning rules, and greater coherence in energy investment across the EU, according to Martin Brudermüller, chair
0 Comments
Biogen’s decision to price its newly approved Alzheimer’s treatment at $56,000-a-year has reignited the debate over the high cost of drugs in the US, the world’s largest and most profitable healthcare market. Shortly after securing US approval on Monday for the first new Alzheimer’s medicine in almost two decades, the Massachusetts-based biotech group announced a
0 Comments