Inflation is ravaging shoppers’ wallets and the Federal Reserve has responded by instituting a regimen of painful interest rate hikes that could land the economy in a recession. But corporate profits are surging. US profit margins have reached record levels not seen since the immediate aftermath of World War II. Source link
CNN — When EU lawmakers voted to ban the sale of new combustion engine cars in the bloc by 2035, it was a landmark victory for climate. In February, the European Parliament approved the law. All that was needed was a rubber stamp from the bloc’s political leaders. Then Germany changed its mind. In a […]
Editor’s Note: Sign up for Unlocking the World, CNN Travel’s weekly newsletter. Get news about destinations opening and closing, inspiration for future adventures, plus the latest in aviation, food and drink, where to stay and other travel developments. CNN — Amsterdam’s Schiphol Airport, one of Europe’s busiest aviation hubs, is to be forced to limit […]
CNN — The world is facing a looming global water crisis that threatens to “spiral out of control” as increased demand for water and the intensifying impacts of the climate crisis put huge pressure on water resources, a UN report has warned. Water use has increased by about 1% a year over the last 40 […]
Cibola, Arizona CNN — Situated in the Sonoran Desert near the Arizona-California border is the tiny rural town of Cibola – home to roughly 300 people, depending on the season. Life here depends almost entirely on the Colorado River, which nourishes thirsty crops like cotton and alfalfa, sustains a nearby wildlife refuge and allows visitors […]
CNN — A Libyan armed group claims to have found the barrels of natural uranium that went missing in southern Libya. A spokesman for the self-styled Libyan National Army (LNA), Khaled Al Mahjoub said on Facebook that the barrels were found 3 miles (5 km) from a warehouse where they were being stored. A video […]
CNN — With a grandiose diplomatic flourish China brokered a rapprochement between Saudi Arabia and Iran, in the process upending US calculus in the Gulf and beyond. While the United States has angered its Gulf allies by apparently dithering over morality, curbing arms supplies and chilling relations, Saudi Arabia’s King-in-waiting Crown Prince Mohammed bin Salman, […]
Canberra, Australia CNN — More than a year after the United States, the United Kingdom and Australia dropped the tightly held news they were combining submarine forces, the trio released more details Monday of their ambitious plan to counter China’s rapid military expansion. Under the multi-decade AUKUS deal, the partners will build a combined fleet […]
Dubai CNN — Saudi Arabian oil giant Aramco on Sunday reported a record annual net profit of $161.1 billion for 2022, up 46% from the year earlier, on higher energy prices, increased volumes sold and improved margins for refined products. The profits follow similar reports in February from international peers BP, Shell, Exxon Mobil and […]
CNN — Nearly 200 countries have agreed to a legally-binding “high seas treaty” to protect marine life in international waters, which cover around half of the planet’s surface, but have long been essentially lawless. The agreement was signed on Saturday evening after two weeks of negotiations at the United Nations headquarters in New York ended […]