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In the wake of the collapse of Silicon Valley Bank that has shaken world markets, Nobel economics prize laureate Joseph Stiglitz told AFP that US authorities "did the right thing" to protect deposits but said the financial system needs a rethink.
Credit Suisse shares plunged more than 20 percent to new record lows after its main shareholder said it would not provide more financial assistance to the embattled Swiss banking giant.
Lebanon's under-fire central bank governor Riad Salameh failed to appear Wednesday before European investigators, with his legal team claiming the hearing would have been "in conflict with national sovereignty", a judicial source said.
Russia's oil-export revenue sank by almost half in February compared to last year as Western powers tightened sanctions on the country, the International Energy Agency said on Wednesday.
Europe's stock markets and the euro slumped Wednesday on renewed fears of contagion following the collapse of Silicon Valley Bank.
Uncollected rubbish clogged streets in France's capital on Wednesday as unions made an 11th-hour bid to stop a deeply unpopular pensions reform from being passed.
South Korea said Wednesday it would build the world's largest chip centre using $230 billion of private investment mostly from Samsung Electronics, as it seeks an edge in the global industry.
Zara owner Inditex, the world's biggest fashion retailer, reported record profits for 2022 despite halting operations in Russia and soaring global inflation.
Towering mounds dot the desert landscape in northern Niger's Arlit region, but there is little natural about them -- they are heaps of partially radioactive waste left from four decades of operations at one of the world's biggest uranium mines.
Chinese retail sales rebounded in January and February as Beijing abandoned its suffocating zero-Covid policy, reopening borders and ending mandatory quarantine, and the country celebrated the Lunar New Year holiday.
Bankrupt Sri Lanka's hospitals were crippled and transport disrupted on Wednesday as trade unions protested against the doubling of taxes to qualify for a crucial IMF bailout.
Asian markets bounced Wednesday as concerns about contagion from the collapse of two US regional lenders eased while investors turned their attention back to next week's Federal Reserve interest rate decision.
Governor Samuel Garcia is a man in a hurry, juggling his daughter's birth and Tesla's arrival in northern Mexico, which hopes to benefit from a new wave of foreign investment.
France faces another day of strikes on Wednesday over highly contested pension reforms which President Emmanuel Macron appears on the verge of pushing through despite months of protests.
After a grueling jeep trip of almost 24 hours on mostly desert roads, two-year-old Rosalinda arrived at the clinic in Uribia, northern Colombia, just in time.
US and European stock markets rebounded on Tuesday amid easing worries over bank industry turmoil, while oil prices fell sharply on recession risks.
Three Brazilian footballers, including Nottingham Forest midfielder Gustavo Scarpa, say they have fallen victim to a multi-million-dollar cryptocurrency scam, according to local media reports.
Two Saudi airlines will purchase 78 Boeing 787 Dreamliner planes under agreements announced Tuesday in a giant order that underlines Saudi Arabia's goal to remake itself as a global aviation hub.
Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company's "year of efficiency" as the US tech sector continues to downsize.
The company behind the ChatGPT app that churns out essays, poems or computing code on command released Tuesday a long-awaited update of its artificial intelligence (AI) technology that it said would be safer and more accurate than its predecessor.
Russian President Vladimir Putin will hold talks with Syria's leader Bashar al-Assad in Moscow on Wednesday, the Kremlin said, as relations between Middle East states undergo a realignment.
Portuguese tourist Fabio Figueirado wanted to admire beautiful buildings on a romantic getaway in Paris, but instead he and his girlfriend have found themselves navigating pavements piled high with garbage.
Riyadh Air and Saudia will purchase 78 Boeing 787 Dreamliner planes under agreements announced Tuesday in a giant order that underlines Saudi Arabia's goal to remake itself as a global aviation hub.
Leonardo da Vinci, the painter of the "Mona Lisa" and a symbol of the Renaissance, was only half-Italian, his mother a slave from the Caucasus, new research revealed on Tuesday.
In the battle between workers and gig economy giants, Uber notched up a rare win Monday when a court in California upheld a state law letting the company treat its drivers as independent contractors rather than employees.
US and European stock markets rebounded on Tuesday as easing inflation data in the United States offset fears over the health of the banking system.
Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company's "year of efficiency" as the US tech sector continues to downsize.
US consumer inflation remained elevated in February, according to government data released Tuesday, adding pressure to the Federal Reserve as it balances its fight to lower prices with financial stability concerns.
As the Federal Reserve seeks to calm financial markets following the collapse of Silicon Valley Bank, the cryptocurrency market is showing signs of resilience despite links to the crisis.
Novo Nordisk announced Tuesday that it will lower the US price of insulin by up to 75 percent, the latest move by a drugmaker to mitigate diabetes treatment costs.
US consumer inflation edged down in February but remains elevated, according to government data released Tuesday, adding pressure to the Federal Reserve as it balances its inflation fight with financial stability concerns.
Stock markets sank further in Asia and faltered in Europe on Tuesday, with banks sliding again on contagion fear after the collapse of two regional US lenders.
More than a million artworks were put up for auction for the first time in 2022 despite a gloomy global economy, according to a report released on Tuesday.
Credit Suisse acknowledged Tuesday "material weaknesses" in its internal controls as the scandal-hit Swiss bank released its annual report, which was delayed following queries from US regulators regarding its books.
The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected.
Using geothermal resources to generate electricity is a divisive prospect in Japan, but there is little disagreement about another use for it: natural steam for cooking.
Increased childcare funding is expected to feature in the UK government's budget this week, in a bid to ease pressure on families and particularly women.
Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.
The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most.