Friday, August 25, 2023

US stocks rally after Fed comments

US stocks closed higher on Friday following comments from Federal Reserve chair Jerome Powell.


The Nasdaq Composite and S&P 500 clinched their first weekly gains after three weeks of losses.


Sally Patterson has more in New York.


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Fed leaves possibility of increasing interest rates again to tackle inflation


U.S. Federal Reserve Chair Jerome Powell has made his annual speech at the Jackson Hole Economic Symposium.

He's warned the Fed may still need to increase interest rates to further slow inflation.

Caroline Malone reports from Washington.


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Donald Trump mugshot merch

It's the mugshot seen around the world. And now, Donald Trump is looking to cash in on it. The former president's re-election team has pushed out a new line of mugshot inspired merchandise.  Toni Waterman has more

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WHO warns COVID-19 still a risk

The World Health Organization is calling on governments to remain vigilant as variants of the Covid-19 virus continue to spread.


Several new strains are being monitored by the United Nations' health agency - and it says people should get vaccinated to stay safe.


Sally Patterson has more.


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British Museum director steps down after thefts

The director of the British Museum in London has stepped down from his post following revelations about a series of thefts. One day earlier he had defended the museum's investigation into allegations that items were stolen. Julia Chapman reports.

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Historic EU tech regulation kicks in

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The EU's landmark tech legislation has kicked in for tech giants operating in the European Union. The Digital Services Act now regulates social media platforms, online marketplaces and search engines in the hope of making them more transparents, accountable and safer for users.

Alex Cadier reports from Brussels

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Uganda Slaps Ban On Importation of Used Clothes

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Uganda has banned the importation of used clothes in a move to protect the local textile industry.

 

Uganda's President Yoweri Museveni says the country has attracted large investments in textiles manufacturing and there is a need to ring-fence and support the blossoming textile sector.


Michael Baleke reports...

 

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Two Slovakian athletes got engaged at WAC


Two Slovakian athletes got engaged at the finish line of the 35km race walk in the World Athletics Championship in Budapest.
Pablo Gutierrez reports

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ECOWAS Chair, Bola Tinubu Says He is Keen on Peaceful Resolution of Niger Crisis, But Open to All Options

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Nigeria's president and Chairman of the West African bloc, ECOWAS,  Bola Tinubu, says he is keen on a peaceful resolution of the Nigerien crisis, but still open to exploring other options.


The bloc has maintained that it will use military force if diplomacy fails to reverse the coup that saw the ousting of President Mohamed Bazoum in July.


Correspondent Ajeck Mangut reports from Abuja.


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Modi-Xi discuss peace along the border on the sidelines of BRICS summit

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India's Prime Minister Narendra Modi and China Xi Jinping discussed the two countries' border dispute on the sidelines of the BRICS summit in South Africa.

The brief meeting comes just days before President Xi is expected to arrive in New Delhi for the G20 summit.

India and China have been locked in a border standoff since 2020.

Ishan Garg has more from New Delhi.

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Japan calls for understanding after China's blanket seafood ban

Japan is calling on China to better understand the science behind its controversial nuclear wastewater discharge. 

Beijing has banned all seafood from Japan in protest over the country’s release of treated water into the ocean. 


Chris Gilbert reports from Tokyo 


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Maui County Sues Utility Company Over Wildfires

Maui county has filed a lawsuit against Hawaiian Electric alleging that the utility company's power lines caused the deadly wildfires on the island earlier this month.

More than a hundred people were killed in the blazes.


Ira Spitzer reports.

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Trump Turns Himself in to Face Conspiracy Charges in Georgia

Donald Trump has turned himself in to authorities in Fulton County, Georgia to face charges of conspiring to overturn the 2020 presidential election along with 18 co-defendants.


The former president, who remains the front runner for the Republican presidential nomination, was released after posting a $200,000 bail bond.


Correspondent Ira Spitzer explains what happens now.


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Thursday, August 24, 2023

Markets Fall Ahead of Powell Wyoming Speech

US markets were all down sharply on Thursday despite a boost from chipmaker Nvidia's earnings report.

The focus now turns to upcoming comments from Fed Chair Jerome Powell at an event in Jackson Hall, Wyoming.

Ira Spitzer has more.


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US intelligence suggests Russian mercenary leader was likely assasinated

US officials say preliminary intelligence suggests that Russian mercenary leader Yevgeny Prigozhin was killed by an explosion on board his aircraft or some other form of sabotage, according to reports.

Meanwhile , Russian president Vladimir Putin has addressed his rival's death  for the first time, offering condolences to Prigozhin's family.


Ira Spitzer reports.


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South Carolina Supreme Court upholds abortion law

The Supreme Court in the US state of South Carolina has upheld a near-total ban on abortion.


The court reversed a temporary block on abortion restrictions, banning most terminations except in the earliest weeks of pregnancy.


Several states have implemented strict laws since the overturning of Roe v Wade last year, ending the constitutional right to abortion.


Sally Patterson reports.


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BRICS Admits Six New Members to the BLOC

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The BRICS countries have signed a Johannesburg declaration admitting  6 new members to the group of major emerging markets as its three-day summit concluded.

Membership of the new countries takes effect on 1st January 2024. Countries include Argentina, the UAE, Egypt, Ethiopia, Saudi Arabia and Iran.

Isabel Nakirya reports

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UK asylum backlog hits record high

The number of asylum seekers in the UK waiting for a decision on their status has risen to a record high. More than 175,000 people seeking to stay in the country have yet to be processed by the British Home Office. Julia Chapman reports.

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Australia's Nina Kennedy and America's Katie Moon, decided to share the gold at WAC


In the women's pole vaulting competition at the World Athletics Championships, Australia's Nina Kennedy and America's Katie Moon, decided to share the gold. This is the first time in the event that two gold medals have been awarded in an individual category. 
Pablo Gutierrez reports.


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UK Defence Minister Meets With Nigeria’s Military Chiefs, Backs ECOWAS Diplomatic Efforts in Niger

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The United Kingdom's Minister of State for the Armed Forces, James Heappey says the UK would support the regional bloc, ECOWAS, to ensure that constitutional order returns to Niger.


He spoke in Abuja after a meeting with Nigeria's top defence leaders, military chiefs and President of ECOWAS in Abuja.


Correspondent Ajeck Mangut reports.


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