Economic Times of India

267 posts

Florida's 6-week abortion ban takes effect as doctors worry women will lose access to health care

The new ban has an exception for saving a woman's life, as well as in cases involving rape and incest, but Roberts said health care workers are still prevented from performing an abortion on a nonviable pregnancy that they know may become deadly - such as when the fetus is missing organs or implanted outside the uterus - until it actually becomes deadly.

US manufacturing sector regresses in April; prices paid near two-year high

U.S. manufacturing experienced a contraction in April as orders declined, reversing a brief expansion seen in March. The Institute for Supply Management (ISM) reported that its manufacturing PMI dropped to 49.2 from 50.3 in March. This decline, below the 50 mark indicating growth, reflects constraints due to higher borrowing costs and a shift in spending towards services.

China to launch lunar probe Chang'e-6 to collect samples from far side of moon

China announced on Wednesday its plan to launch the lunar probe Chang'e-6 on Friday, aiming to collect samples from the far side of the moon, marking the first such mission in human history, according to the China National Space Administration (CNSA). Preparations for the mission, including refueling the Long March-5 Y8 carrier rocket, are underway at the Wenchang Space Launch Site in Hainan Province.

US private payrolls beat expectations in April

The ADP Employment report revealed that U.S. private payrolls exceeded expectations in April, with an increase of 192,000 jobs, following an upward revision of 208,000 jobs in March. Economists had predicted a rise of 175,000 jobs for April. This report, developed with the Stanford Digital Economy Lab, often anticipates trends in the labor market, although it tends to show a more pronounced slowdown compared to official employment data.

Southern China road collapse kills 19: State media

A highway collapse in southern China's Guangdong province has resulted in at least 19 deaths, with 49 people involved. The incident occurred between Meizhou city and Dabu county, causing 18 vehicles to become trapped. Authorities have dispatched around 500 people to assist with the rescue operation, drawn from departments handling public security, emergency response, firefighting, and mining rescue.

Chinese astronauts return to earth after six months in space

China built its own space station after being excluded from the International Space Station, largely because of US concerns over the Chinese military's total control of the space programme amid a sharpening competition in technology between the two geopolitical rivals. This year, the Chinese station is slated for two cargo spacecraft missions and two manned spaceflight missions.

Large numbers of New York City police officers begin entering Columbia University campus

Protests have spread to campuses from California to Massachusetts as May commencement ceremonies near, putting added pressure on schools to clear protesters. More than 1,000 protesters have been arrested over the last two weeks on campuses in states including Texas, Utah, Virginia, North Carolina, New Mexico, Connecticut, Louisiana, California and New Jersey, some after violent clashes with police in riot gear.

Europe's economy shows signs of life with 0.3% growth in 1st quarter as inflation, energy woes ease

The economy had been held back by high inflation that has sapped consumer purchasing power, and by an energy price spike related to Russia cutting off most supplies of natural gas. Those headwinds have eased as energy prices have fallen and as inflation fell to 2.4% in April. But record high interest rates from the European Central Bank aimed at driving down inflation added another hurdle by raising the cost of credit for businesses and consumers.

Activists occupy Columbia building as US campus protests flare

Pro-Palestinian protests at Columbia University intensified as demonstrators barricaded themselves inside a campus building, clashing with school officials. The protests, part of a broader wave across US colleges, aim to pressure institutions to divest from Israel. President Biden's administration criticized the building seizure, calling it unacceptable. The protests, marked by clashes and arrests, have sparked debates on free speech and anti-Semitism. The demonstrations reflect global outrage over the Gaza conflict, with protesters demanding justice for Palestinians.

McKinsey's CEO Factory: What sets it apart according to Sundar Pichai, James Gorman, and Sheryl Sandberg

McKinsey & Company, known for its prestigious alumni and talent development programs, is facing scrutiny from the DOJ for its past advice to opioid companies. Notable alumni include Sundar Pichai, Sheryl Sandberg, and John Malone. Despite its reputation as a talent incubator, McKinsey has faced criticism for its work with Enron and the Saudi Arabian government. The DOJ's investigation adds to the challenges McKinsey faces as it navigates the post-pandemic era and adapts to changing client demands. The firm has not yet responded to requests for comment on the investigation or recent reports of overhiring.

US consumer confidence at lowest level since 2022: survey

The latest survey by The Conference Board revealed a decline in US consumer confidence, reaching its lowest level since July 2022. The consumer confidence index fell to 97.0 in April, below analysts' expectations of 104.0. Concerns about future financial conditions and the job market contributed to the decline, despite positive views on the current situation. Consumers expressed worries about elevated prices, especially for food and gas, while politics and global conflicts were secondary concerns.

Warren Buffett's PacifiCorp faces $30 bln new wildfire claims

A utility owned by Warren Buffett's Berkshire Hathaway is facing $30 billion in new claims blaming it for causing Oregon wildfires in 2020, nearly four times the maximum loss it had projected. One thousand victims filed claims against PacifiCorp in a state court in Portland, each seeking up to $5 million for actual losses and up to $25 million for non-economic losses. PacifiCorp is appealing a previous jury order to pay $90 million for gross negligence. Berkshire Hathaway Energy, which owns 92% of PacifiCorp, has not commented on the new claims.

In message to China, G7 urges others to help climate finance

G7 ministers said Tuesday that efforts to raise money to help poorer countries adapt to climate change should include countries "capable of contributing", in a message aimed at China. "We emphasise the G7 countries intend to be leading contributors to a fit-for-purpose goal, underlining the importance of including in any ... (fund) those countries that are capable of contributing," the ministers said in a statement after two days of talks in Turin.

India, UAE discuss ways to deepen Comprehensive Strategic Partnership

Foreign Secretary Vinay Kwatra met with UAE's Minister of State for International Cooperation Reem Ebrahim Al Hashimy in New Delhi to enhance the Comprehensive Strategic Partnership. The officials discussed strengthening bilateral relations. The recent inauguration of the first Hindu Temple in Abu Dhabi and the signing of a Comprehensive Economic Partnership Agreement were also highlighted.

Man arrested for stabbing Londoners with a sword

A sword-wielding man attacked civilians and two police officers in Hainault, East London, on Tuesday, before being apprehended. Authorities assured the public that the incident is not terrorism-related and there's no ongoing threat. Deputy Assistant Commissioner Ade Adelekan acknowledged the community's shock and promised further updates.

Elon Musk lays off Tesla senior executives in fresh job cuts: Report

Tesla CEO Elon Musk is reducing senior management and laying off hundreds of employees due to falling sales and the pace of layoffs. Rebecca Tinucci, senior director of Tesla's Supercharger business, and Daniel Ho, head of new products, will leave. Musk also announced the dismissal of everyone working for Tinucci and Ho, including the roughly 500 employees in the Supercharger group.

NATO chief chides members as Ukraine's allies say slow arms deliveries have helped Russia

Outgunned, Ukraine's troops have struggled to fend off Russian advances on the battlefield. They were recently compelled to make a tactical retreat from three villages in the east, where the Kremlin's forces have been making incremental gains, Ukraine's army chief said Sunday. The Russian Defense Ministry claimed Monday its forces had also taken the village of Semenivka.