Millions without power as Cuba hit by latest major blackout

BBC - Sep 19, 2026

Widespread power outages have become increasingly common due to fuel shortages made worse by a US blockade.

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Sep 19, 2026

Warren Buffett steps down as Berkshire Hathaway chairman

WASHINGTON — Influential U.S. billionaire investor Warren Buffett stepped down as chairman of Berkshire Hathaway, the conglomerate announced Friday. The news brings to an end the revered investor's more than half a century of running the group, which he turned into a financial behemoth. Buffett's resignation is "effective immediately," although he will remain a member of the board of directors as chairman emeritus, Berkshire Hathaway said in a statement. Buffett's son Howard Buffett will take over as chairman, the statement added. The 96-year-old had announced plans last year to retire from leading the business group. Berkshire Hathaway, a former small textile company, has grown over the years into a gigantic conglomerate under Buffett's leadership, and is now worth over $1 trillion on Wall Street -- a first for an American group outside the tech sector. Today, his conglomerate owns dozens of businesses, from Duracell batteries to U.S. insurer Geico, and shares in carefully selected companies, from Coca-Cola to Bank of America. "Father Time always wins. He has, however, been generous with

Sep 19, 2026

Global rate-hike cycle in view as central banks take on inflation

FRANKFURT — The prospect of a new global interest rate-tightening cycle is coming into view as some of the world's top central banks raise rates and signal more may be needed to tame inflation fuelled by the Iran war. Key rates are already much higher than the rock-bottom levels from the last hiking cycle that began in 2022. But central bankers are under market pressure to show that they are prepared to raise them further to tame inflation expectations and rein in long-term bond yields at multidecade highs. The Bank of Japan became the latest big central bank to tighten on Friday, following rate increases by the Federal Reserve two days before and the European Central Bank last week. The Bank of England left rates unchanged this week but flagged that inflation pressures could require further action. "Our policy phase has changed," BOJ Governor Kazuo Ueda said as the bank signalled it was prepared to keep pushing up borrowing costs. The moves, while formally independent of each other, reflect a shared concern among policymakers that higher oil and gas costs resulting from the Iran war ra

Sep 19, 2026

Korea's limited Hormuz role may not satisfy Trump: expert

SEATTLE — President Lee Jae Myung’s proposal to expand South Korea’s maritime security role in the Strait of Hormuz while ruling out involvement in the war represents a “realistic and constructive” contribution, but may not be enough to satisfy U.S. President Donald Trump, a U.S. expert said. Scott Snyder, president and CEO of the Korea Economic Institute of America (KEI) and a longtime scholar of South Korea-U.S. alliance and security issues, said Lee’s approach is consistent with how South Korea has responded to similar U.S. requests in the past. “Something along those lines represents a realistic and constructive offer from South Korea, but by President Trump’s logic such a limited contribution may not pass muster,” Snyder told The Korea Times. Lee said Friday that South Korea would not deploy troops or military assets in a way that would involve the country in the war, while confirming that Seoul is considering strengthening the role of the Cheonghae Unit to protect Korean commercial vessels, oil shipping routes and citizens. Snyder noted that South Korea responded

Sep 19, 2026

Wall St mixed as benchmark Treasury yields reach 5%, oil takes a pause

NEW YORK — Wall Street was mixed on Friday as benchmark U.S. Treasury yields topped 5 percent, and crude prices reversed earlier gains but remained above $100 per barrel, keeping inflation worries front and center. Investors approached the end of a week that was essentially split in two: first, restless anticipation in the days before the U.S. Federal Reserve's widely expected interest rate hike, and then the aftermath of that decision. A semiconductor rally helped the Nasdaq evade the broader selloff, which pulled the S&P 500 and the Dow marginally lower. The S&P 500 is on track to end the session with a weekly loss, while the tech-laden Nasdaq is on course to end nominally higher than last Friday's close. The blue-chip Dow is headed for its biggest weekly percentage decline since March. Inflation concerns remained prominent as crude prices stayed above $100 per barrel, but they paused their upward climb after China, at the request of Saudi Arabia, asked Iran to limit attacks by Houthi rebels on Saudi oil infrastructure. Soaring oil prices have sent diesel prices to record levels, whic

Sep 19, 2026

Trump extends push for $100,000 H-1B visas by another year

WASHINGTON — U.S. President Donald Trump has extended an executive order that would impose a fee of $100,000 for H-1B non-immigrant visas by another year, the White House said on Friday. U.S. employers seeking to hire skilled foreign workers can use the federal government's H-1B visa program for a fee, allowing tech and other professionals from abroad to work in the United States for a few years. Trump, who has pursued an aggressive immigration crackdown, has criticized the program and wants to permanently raise the fee from between $2,000 and $5,000 to at least $100,000, though the attempt has faced legal challenges. A Boston-based appeals court is reviewing a June decision by a federal judge who deemed the higher fee imposed by the Trump administration illegal and blocked the government from collecting it. Another court is considering whether a judge properly rejected a challenge to the fee by the U.S. Chamber of Commerce, the largest U.S. business lobbying group. Trump's initial order for a fee hike, first released in September 2025, was set to expire this month. It did not apply to

Sep 19, 2026

US Treasury's Bessent to discuss AI, rare earths with China's He, source says

WASHINGTON — U.S. Treasury Secretary Scott Bessent plans to discuss artificial intelligence (AI), trade, rare earths and economic issues when he meets with Chinese Vice Premier He Lifeng in New York City this weekend, according to a source familiar with his plans. The discussions are significant because the U.S. and China are the two major forces driving development of advanced AI tools and the global adoption of the technology. Rare earths play a crucial role in the manufacturing of technology. Bessent, U.S. Trade Representative Jamieson Greer and He will meet on Sunday in New York ahead of a summit between U.S. President Donald Trump and Chinese President Xi Jinping on September 24 in Washington, Greer's office said in a statement. "The Trump Administration will continue to pursue balanced trade with China by monitoring the implementation of recent commitments, optimizing trade in non-sensitive goods, and improving market access for American farmers, manufacturers, and workers," Greer said in the statement. Bessent said in a separate statement that he expects the discussions to cover

Sep 19, 2026

Germany cuts energy tax to lower soaring petrol prices

Germany will cut taxes on gasoline and diesel by about 17 cents a litre from October, the government said Friday. The move aims to gain temporary relief for motorists as fuel prices surge above €2 a litre and contribute to growing pressure on Chancellor Friedrich Merz.

Sep 19, 2026

Millions without power as Cuba hit by latest major blackout

Warren Buffett steps down as Berkshire Hathaway chairman

Global rate-hike cycle in view as central banks take on inflation

Korea's limited Hormuz role may not satisfy Trump: expert

Wall St mixed as benchmark Treasury yields reach 5%, oil takes a pause

Trump extends push for $100,000 H-1B visas by another year

US Treasury's Bessent to discuss AI, rare earths with China's He, source says

Germany cuts energy tax to lower soaring petrol prices

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Illinois data centre project: $18 billion campus gets first permit as neighbours say they learned about it too late

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