World News

Fed chair Warsh sets sights on 2% inflation target, vows to 'do my job'

Inflation is currently running above the Fed's 2 per cent target, and there is uncertainty around whether renewed conflict in West Asia could reverse recent progress

Trading revenue, investment banking lift Wall Street bank earnings

Bank of America beat estimates for second-quarter profit, benefiting from record trading activity and a surge in dealmaking, one of five banks reporting on Tuesday

New York to impose country's first statewide moratorium on data centres

New York will halt approvals for new hyperscale data centres for up to a year as it drafts rules to address AI-driven energy, water and environmental concerns

Nasa's Anil Menon, two Russians blast off for 8-month space mission

NASA astronaut Anil Menon and two Russian cosmonauts launch on eight-month ISS mission

US consumer inflation slows 0.4% in June, but Fed rate hike fears linger

US consumer inflation eased more than expected in June as energy prices retreated, though markets still see a possibility of a Federal Reserve rate increase this year

Trump steps back from proposal for Hormuz fees in favour of Gulf deals

Donald Trump abandoned plans to impose a 20 per cent fee on shipping through the Strait of Hormuz, saying he would instead seek trade and investment deals with Gulf states

Govt official says 7 Indian-flagged vessels in Persian Gulf currently

Seven Indian-flagged vessels with around 148 seafarers remain in the Persian Gulf as rising US-Iran tensions discourage ships from leaving the region

Bangkok's deadliest bar fire that killed 30: All that you need to know

Thai authorities are investigating possible safety lapses, including blocked exits and flammable ceiling materials, after a Bangkok bar fire killed at least 30 people and left dozens more injured

Death toll in Bangkok music bar fire rises to 30, dozens remain in hospital

The death toll from Bangkok's deadliest bar fire in 17 years has risen to 30, while more than 70 people remain hospitalised as authorities investigate the cause and possible safety lapses

1 Indian killed, 6 injured after Iranian missiles hit UAE tankers in Hormuz

The UAE said two of its tankers were hit by Iranian cruise missiles in the Strait of Hormuz, killing an Indian crew member as regional tensions continued to escalate

Hormuz transits fall to lowest in a month amid fresh escalation of tensions

Only 73 vessels crossed the Strait of Hormuz on July 10-12 as Iran's closure declaration, military tensions and severe security risks continued to disrupt shipping flows

China expels third Politburo member in deepening anti-graft drive

China expelled former Politburo member Ma Xingrui from the Communist Party over corruption charges, marking the latest high-profile purge

China's exports surge 27% in June as AI boom drives strong demand

The increase in exports in June was much better than economists had expected

Trump's proposed 20% Hormuz fee could cost each oil supertanker $30 mn

Trump's proposed 20% fee on cargo transiting the Strait of Hormuz could add about $30 million to a fully loaded oil supertanker, raising fresh concerns across global shipping markets

De Beers to shut South African diamond mine for 2 yrs as crisis deepens

De Beers will suspend production at its Venetia mine in South Africa for two years as the diamond industry grapples with weak demand, falling prices and rising competition from synthetic stones

Iran sneaking out tankers via Strait of Hormuz as Trump amps up threats

Iran has continued moving sanctioned oil tankers through Hormuz with transponders switched off, even as the US prepares to reimpose a blockade and tensions in the strategic waterway intensify

OpenAI's feud with Musk's xAI carries on as Apple secrets fight revs up

OpenAI has asked a US court to award more than $1 million in legal costs after xAI's trade secrets lawsuit was dismissed, while Elon Musk's AI startup prepares to appeal the ruling

Houthis strike Saudi's Abha airport with missiles in sharp escalation

Iran-backed Houthi rebels launched missiles, drones at Saudi's Abha airport after airstrikes hit Sanaa airport, marking the sharpest escalation between the two sides since the 2022 UN-brokered truce

US military death toll in Iran war rises to 14; over 400 troops injured

The US military said its death toll in the Iran conflict has risen to 14 after a Navy helicopter crash, while the number of wounded service members has climbed to more than 400

US military to resume maritime blockade of Iranian ports from July 14

The US said it will resume blockading maritime traffic to and from Iranian ports from July 14, following renewed hostilities with Tehran over the Strait of Hormuz and Trump's latest security measures