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Price inflation: five ways stronger UK supply chains can help reduce rising food costs

May 25, 2023 14:34 pm UTC| Economy

Annual price inflation has recently fallen below double digits, but food costs are still rising rapidly. Official UK figures show food prices rose by 19.1% in the year to April 2023. To prevent further increases, the UK...

Europe Roundup: Sterling gives up initial gains after hot UK inflation figures, European shares slump to three-week lows, Gold little changed, Oil prices up after bullish Saudi comments, falling U.S. stockpiles

May 24, 2023 12:25 pm UTC| Market Roundups Economy

Market Roundup UK Apr CPI (MoM) 1.2%,0.8% forecast,0.8%previous UK Apr CPI, n.s.a 130.40, 128.90 previous UK Apr Core RPI (MoM) 1.4%,2.1% forecast,0.7% previous UK Apr RPI (YoY) 11.4%,11.2% forecast,13.5%...

Virgin Orbit Closes After Bankruptcy Declaration, Sells Remaining Assets

May 24, 2023 10:03 am UTC| Business Economy

Virgin Orbit, the spin-off of Richard Bransons Virgin Galactic space tourism business, filed for bankruptcy last month, and now the company is completely shutting down. Before the closure, the company that makes and...

Apple Reveals Broadcom Deal to Develop 5G Components

May 24, 2023 08:44 am UTC| Business Economy Technology

Apple Inc. revealed it has teamed up with Broadcom Inc. for the development of 5G radio frequency parts in the United States. The companies signed a multi-billion deal for the partnership. With the cooperation between...

DSME to Start Afresh as Hanwha Ocean After Completion of Takeover Deal

May 24, 2023 07:40 am UTC| Business Economy

DSME or Daewoo Shipbuilding Marine Engineering Co., Ltd has been sold, and it is now owned by the Hanhwa Group. The acquisition deal has been completed this month, and now the shipbuilding company was rebranded with a...

Naver Reportedly Blocked in China

May 24, 2023 07:16 am UTC| Business Economy

Naver is a leading online platform in South Korea, and it is accessible in other countries too. However, in a recent report, it was said that the web portal was suddenly blocked in China. In response to the news, the...

Coca-Cola Launches Enigmatic Soda Brand OOHA in Thailand

May 23, 2023 23:45 pm UTC| Life Economy Business

Coca-Cola is launching a new drink with an undefined flavor, dubbed OOHA, in Thailand. OOHA promises an explosion of two flavors, such as lychee and yogurt, lemon and salt, and peach and oolong tea, with every...

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Economy

South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom

South Africa is keen to make use of potential new European Central Bank (ECB) repo liquidity lines, according to central bank governor Lesetja Kganyago, as the country continues to navigate easing inflation and a gradual...

Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength

Russian stocks finished the latest trading session on a mixed note, with the MOEX Russia Index closing flat as gains in select blue-chip shares were offset by losses in others. At the close of trading in Moscow, the...

China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices

Chinas central bank has continued to strengthen its gold reserves, extending its buying streak to a 15th consecutive month in January, according to the latest data released by the Peoples Bank of China (PBOC). The move...

Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal

President Donald Trump has signed a landmark executive order removing the 25% penalty tariff on Indian goods, signaling a major shift in U.S.India trade relations and global geopolitical alignment. The move functions as...

Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran

U.S. President Donald Trump has signed a new executive order that could impose tariffs of up to 25% on countries that continue to do business with Iran, marking a significant escalation in Washingtons pressure campaign...

Politics

Ohio Man Indicted for Alleged Threat Against Vice President JD Vance, Faces Additional Federal Charges

A federal grand jury has returned an indictment against a 33-year-old Ohio man accused of threatening to kill U.S. Vice President JD Vance during the vice presidents visit to the Ohio region in January, according to the...

New York Legalizes Medical Aid in Dying for Terminally Ill Patients

New York has officially joined a growing number of U.S. states allowing medical aid in dying after Governor Kathy Hochul signed landmark legislation into law on Friday. The new New York medical aid in dying law permits...

Trump Says “Very Good Talks” Underway on Russia-Ukraine War as Peace Efforts Continue

U.S. President Donald Trump said on Friday that very good talks are ongoing regarding Russias war in Ukraine, signaling potential movement in long-running diplomatic efforts to end the conflict. Speaking briefly to...

China Warns US Arms Sales to Taiwan Could Disrupt Trump’s Planned Visit

China has issued a strong warning to the United States, signaling that any additional arms sales to Taiwan could seriously jeopardize U.S. President Donald Trumps planned visit to China in April. According to a report...

Trump Allows Commercial Fishing in Protected New England Waters

U.S. President Donald Trump has signed a proclamation permitting commercial fishing in a previously restricted marine protected area off the coast of New England, a move that has sparked renewed debate over ocean...

Science

SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates

Elon Musks SpaceX is shifting its near-term space exploration strategy, choosing to prioritize a return to the Moon before pursuing missions to Mars, according to a recent Wall Street Journal report citing sources familiar...

NASA and SpaceX Target Crew-11 Undocking From ISS Amid Medical Concern

NASA has confirmed that the agency, in coordination with SpaceX, is targeting no earlier than 5 p.m. Eastern Time (2200 GMT) on Wednesday, January 14, for the undocking of the SpaceX Crew-11 mission from the International...

Neuralink Plans High-Volume Brain Implant Production and Fully Automated Surgery by 2026

Elon Musks brain-computer interface company Neuralink is preparing for a major expansion, announcing plans to begin high-volume production of its brain implant devices and transition to a fully automated surgical procedure...

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

Technology

Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge

Nvidia (NASDAQ: NVDA) CEO Jensen Huang reaffirmed his bullish stance on artificial intelligence, calling the massive capital expenditure flowing into AI infrastructure both appropriate and necessary as the industry...

Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate

Amazon.com (NASDAQ:AMZN) delivered a mixed but closely watched earnings report, beating Wall Street expectations on revenue while unveiling a massive long-term investment plan that unsettled investors. The e-commerce and...

Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch

Major PC manufacturers including HP, Dell, Acer, and Asus are reportedly exploring the option of sourcing memory chips from Chinese semiconductor companies for the first time, as a prolonged global supply crunch continues...

OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering

OpenAI is significantly accelerating its enterprise AI strategy by hiring hundreds of new employees for its technical consulting division, according to a report by The Information, citing a person familiar with the...

SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off

SoftBank Group Corp. (TYO:9984) shares tumbled sharply on Thursday, tracking a steep decline in Arm Holdings (NASDAQ:ARM) after the UK-based chip designer reported weaker-than-expected earnings for the December quarter....