Wednesday, June 21, 2023

Stocks slump on Powell comments

U.S. stocks slumped Wednesday after the head of the Federal Reserve
said that more interest rate hikes were on the way.

The Central Bank left rates unchanged this month but Jerome Powell
says further action is needed to beat down inflation.

William Denselow reports from New York.

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Amazon sued by FTC for tricking customers

Federal regulators in the U.S. are suing Amazon accusing the company
of deceiving customers.

It comes weeks after the e-commerce firm paid $30 million to settle
allegations that its products violated privacy practices.

Amazon denies misleading people into signing up for its Prime membership.

U.S. correspondent William Denselow reports.

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China hits back after Biden refers to Xi as a "dictator"

China has reacted angrily after US president Joe Biden referred to Chinese president Xi Jinping as a dictator.

The comments came just days after US secretary of state Antony Blinken met Mr Xi in Beijing in a bid to stabilize deteriorating relations between the two world powers.


Kate Fisher reports from Washington


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Federal Reserve warns of "long way to go" in battle with inflation, hinting at more interest rate hikess

Federal Reserve Chairman Jerome Powell insists the United States is "squarely focused" on getting back to its desired 2% inflation goal, although there is still a "long way to go," he says, as inflationary pressures continue to run deep.


The head of the country's central bank was speaking at Wednesday's semiannual monetary policy hearing in front of Congress's House Financial Services Committee, where he warned the US remains "very far off" its target and that interest rates may need to rise to counter persistently high prices. 


Benji Hyer was following the session. 


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Experts had warned of risks from experimental nature of vessel missing in North Atlantic


As a major search and rescue operation for the missing Titan submersible continues in the remote North Atlantic Ocean, it's been revealed by the New York Times that a former member of the tour company warned of grave risks from the vessel a few years ago.

U.S. Correspondent Caroline Malone reports.


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[UPDATED] Missing Titanic sub search continues

The U.S. Coast Guard says we have to remain hopeful...

It gave an update on the noises heard near where the small underwater
vessel vanished Sunday.... with five people inside.

Gabrielle Fahmy reports.

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Underwater noises heard in search for missing sub near Titanic wreck

There is some hope for the five explorers who have been missing since Sunday.

Underwater noises have been detected near the Titanic's wreck, where
the small vessel disappeared.

Gabrielle Fahmy reports.

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Modi marks International Yoga Day at UN

India's Prime Minister has marked International Yoga Day by
participating in a session at the United Nations.

The UN passed a unanimous resolution back in 2014 marking June 21st as
the International Day of Yoga.

William Denselow is at the UN where the yoga practice was held.

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France sends specialist ship and equipment to search for missing submarine

France is sending a specialist ship and equipment to the area in the North Atlantic Ocean where a major international search is under way for a submarine that went missing on a deep-sea trip to see the wreck of the Titanic.

Ross Cullen reports.

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Pentagon miscalculates the military aid to Ukraine

The Pentagon has reported an accounting error that's led to the
overvaluing of aid it provided to Ukraine.
The military aid was overvalued by 6.2 billion dollars over the past
two years and the Pentagon says this has resulted in a surplus that
will be used for future security packages.
Jody Jacobs has more...

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Time Running Out For Missing Sub

Time is running out to find the missing 5 passengers onboard the submersible that lost contact whilst on an excursion to view the wreckage of the Titanic.


Oxygen supplies are believed to be able to last until Thursday, but only if the vessel's hull remains intact.  


The US Coastguard said underwater noises were detected by a Canadian search and rescue aircraft but a precise location has not been determined.


A former senior Royal Navy officer has described the trip itself as "fundamentally dangerous".


Retired rear admiral Chris Parry believes the odds of finding the missing sub Titan are "vanishingly small".


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President Zelensky says rebuilding Ukraine rebuilds freedom

President Volodymyr Zelensky says reconstruction is key to restoring normal life in Ukraine, which will mark a real victory against Russia. He was remotely addressing the Ukraine Recovery Conference in London, which is seeking to find ways to build confidence in investing in the country. 

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German Economy to Shrink by 0.4 Percent in 2023

New data out of Germany show's the country's economy is recovering from recession slower than expected. 

The numbers, released by one of the country's leading economic think-tanks, shows inflation is continuing to hamper growth. 

From Berlin, Trent Murray reports. 

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UN donates $20m to address food security, nutrition challenges in Nigeria

The United Nations has donated twenty million dollars to boost the humanitarian response to challenges of food and nutrition in northeast Nigeria.

Nigeria has been soliciting funding from its partners to support over four million persons experiencing hunger and malnutrition in the country.

Correspondent Tesem Akende reports from Jos.

Take Radio

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With an eye on China, the US pulls out red carpet for Modi

India's Prime Minister is in the United States on his first state visit - the highest diplomatic protocol accorded by the US to visiting leaders.

Narendra Modi is slated to hold talks with US President Joe Biden on Thursday and experts say China is driving this Indo-US engagement.

New Delhi has for years stopped short of embracing a more active role in the Indo-Pacific, worried about its actions upsetting China.

But critics say after a border clash with Beijing three years ago, India has become a lot more assertive in its foreign policy engagements.

Neha Poonia has more on the defence deals that will likely be announced on this trip.

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Tesla eyes significant investments in India as Musk meets Modi

Tesla chief executive Elon Musk said the car maker is considering making "significant investments" in India.

His comments came after a meeting with Indian prime minister Narendra Modi who is visiting the United States.

Rebecca Bundhun reports from Mumbai

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Nissan being sued by former head

Former Nissan chief Carlos Ghosn is reportedly suing the car manufacturer for more than a billion dollars.  

Mr Ghosn is attempting to clear his name over a defamation case concerning his ousting from the company in 2018. 


Chris Gilbert reports. 


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PM Modi leading Yoga celebrations at UN a display of soft power say experts

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Indian Prime Minister Narendra Modi, who's on a three-day visit to the US will lead the International Day of Yoga celebrations at the UN headquarters on Wednesday.
The United Nations adopted 21st June as the day to celebrate Yoga in 2015 – a year after Mr. Modi had proposed it in his speech to the General Assembly.
Today, it's more than a fitness routine though – it's become what many call India's strongest soft power tool, as Ishan Garg tells us from New Delhi.
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Tuesday, June 20, 2023

Tokyo couple convicted of high-school killing

A Tokyo couple has been convicted of the brutal murder of an 18-year old high school girl. 

The pair were found to have abducted the student before killing her in a remote location two years ago. 


Chris Gilbert reports from Tokyo. 


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Market rally cools off on Wall Street

Stocks fell on Wall Street Tuesday.

It's got investors worrying if the recent rally in U.S. equities has legs.

Gabrielle Fahmy reports from New York.

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