LIVE: Elon Musk says he would reverse Twitter ban on Donald Trump

Musk says Twitter's decision to permanently ban former US President Donald Trump 'not correct'

11:33 PM

Elon Musk says he would reverse Twitter ban on Donald Trump

Tesla Chief Executive Elon Musk said Tuesday he would reverse Twitter's ban on former US President Donald Trump, while speaking at the Financial Times' 'Future of the Car' conference.

 

Elon Musk says Twitter's decision to permanently ban Trump is 'not correct'.

10:57 PM

Ukraine to halt key Russian gas transit to Europe, use alternative

Ukraine said on Tuesday it would suspend the flow of gas through a transit point which it said delivers almost a third of the fuel piped from Russia to Europe through Ukraine, blaming Moscow for the move and saying it would move the flows elsewhere.

 

GTSOU, which operates Ukraine's gas system, said it would suspend flows via the Sokhranivka route from Wednesday, declaring "force majeure", a clause invoked when a business is hit by something beyond its control.

10:35 PM

Biden says discussing dropping US trade tariffs on China

President Joe Biden said on Tuesday discussions are ongoing about potentially dropping US trade tariffs on China that were imposed by his predecessor, Republican Donald Trump.

 

"We're discussing that right now," Biden told reporters after a speech about inflation. "I'm telling you, we're discussing it, and no decision has been made on it."

9:46 PM

Biden urges Senate to confirm Fed nominees, cites inflation

US President Joe Biden on Tuesday called on the Senate to confirm his nominees for the U.S. central bank, saying the Federal Reserve had a key role to play in fighting inflation.

 

Biden, while noting the Fed's political independence, said he was confident the central bank would do its job, calling inflation a top economic priority.

9:17 PM

Yellen says eliminating abortion rights would have 'damaging effects' on US economy

U.S. Treasury Secretary Janet Yellen on Tuesday said eliminating women's access to abortions would have "very damaging effects" on the U.S. economy, keeping some women from completing their educations, reducing lifetime earnings potential and keeping some out of the workforce.

 

Yellen in testimony to the Senate Banking Committee said research has shown that denying women access to abortions increases their odds of living in poverty or on public assistance.

9:09 PM

FCRA violations: MHA officials, NGO representatives under lens as CBI conducts countrywide op

The CBI is conducting a major countrywide operation against Union Home Ministry officials, NGO representatives and middlemen for allegedly facilitating violations of rules in receiving foreign donations, officials said Tuesday, PTI reported. 

 

The coordinated operation over the alleged breaches of Foreign Contribution (Regulation) Act is going on at around 40 locations including in Delhi, Chennai, Hyderabad, Coimbatore, Mysore and some places in Rajasthan, they said.

 

It has been detected during the operation that several public officials from the MHA, NGO representatives and middleman exchanged money to facilitate the foreign donations in violation of FCRA, 2010, they said.

8:56 PM

Wall St slips in choppy trading as bank stocks slide

Wall Street's main indexes turned lower on Tuesday in volatile trading as bank and megacap growth stocks slumped on concerns over aggressive monetary tightening and slowing economic growth.

 

At 11:14 a.m. ET, the Dow Jones Industrial Average was down 117.61 points, or 0.36%, at 32,128.09, the S&P 500 was down 15.08 points, or 0.38%, at 3,976.16, and the Nasdaq Composite was down 39.47 points, or 0.34%, at 11,583.78.

8:49 PM

WHO chief says China's zero-COVID policy not 'sustainable'

The head of the World Health Organization said on Tuesday China's zero-tolerance COVID-19 policy is not sustainable given what is known of the disease, in rare public comments by the U.N. agency on a government's handling of the virus.

 

"We don't think that it is sustainable considering the behaviour of the virus," WHO Director-General Tedros Adhanom Ghebreyesus told a media briefing.

 

Speaking after Tedros, WHO emergencies director Mike Ryan said the impact of a "zero-COVID" policy on human rights also needs to be taken into consideration alongside the effect on a country's economy from any COVID policy.

8:20 PM

Sri Lanka Defence Ministry orders tri-forces to open fire on rioters

Sri Lanka's Ministry of Defence on Tuesday ordered the Army, the Air Force and the Navy personnel to open fire on anyone looting public property or causing harm to others amidst violent protests in the island nation over the unprecedented economic crisis.

 

The order came after embattled President Gotabaya Rajapaksa urged people to stop "violence and acts of revenge" against fellow citizens and vowed to address the political and economic crisis facing the nation.
 

The death toll rose to eight in the unprecedented violence that erupted after supporters of then prime minister Mahinda Rajapaksa attacked anti-government protesters here on Monday. Though Mahinda Rajapaksa, 76, has quit as prime minister, this has failed to bring calm.

8:10 PM

Fed's Mester: 50 bps rate hikes make sense, could see unemployment rise

Cleveland Federal Reserve Bank President Loretta Mester on Tuesday said raising interest rates in half-point increments "makes perfect sense" for the next couple of Fed meetings, and that ultimately rates will need to rise above 2.5% to rein in too-high inflation.

 

"It may very well be that the unemployment rate will have to move up a little bit, we may get another quarter of negative or slow growth, but that's going to have to happen if we want to get inflation down," Mester told Yahoo Finance. "I think things will be bumpy."