IBT Staff Reporter

OPEC head Barkindo dies at 63 in 'shock' to oil cartel

Boris Johnson will announce his resignation as British Prime Minister on Thursday, a government source said, after he was abandoned by ministers and his Conservative Party's lawmakers who said he was no longer fit to govern.

For Indonesian teachers Sutrisno and Sri Wahyuningsih, embarking on the once in a lifetime haj pilgrimage stirs bittersweet emotions.

World hunger levels rose again last year after soaring in 2020 due to the COVID-19 pandemic, with the Ukraine war and climate change threatening starvation and mass migration on an "unprecedented scale" this year, according to U.N.

Canadian government spending is leaving the Bank of Canada to work alone to rein in the highest inflation rate in nearly four decades, economists say.

France will fully nationalise EDF, Prime Minister Elisabeth Borne said on Wednesday, in a move that would give the government more control over a restructuring of the debt-laden group while contending with a European energy crisis.

The Bank of Canada is set to raise its overnight rate by a hefty 75 basis points this month and by another 50 in September, front-loading a campaign to take monetary policy to where it will restrain the economy, according to a Reuters poll of 29 economists.

Democrats in the U.S. Senate are advancing a deal that would allow the government's Medicare health plan for older and disabled Americans to negotiate lower prescription drug prices, Senate sources said on Wednesday.

Democrats in the U.S. Senate are advancing a deal among themselves that would allow the Medicare health program for the elderly to negotiate lower prescription drug prices, Senate sources said on Wednesday.

U.S. Senate Democrats have reached a deal among themselves on a bill allowing Medicare to negotiate prescription drug prices for seniors, an aide for Senator Joe Manchin said on Wednesday.

G20 foreign ministers travel to the resort island of Bali this week for a meeting that will be overshadowed by the war in Ukraine, with Russia's attendance creating rifts in the bloc as host Indonesia tries to mediate.

Sterling, down nearly 12% against the dollar since the start of this year, is likely to regain around half of its lost ground in 2022 over the next 12 months as the Bank of England looks set to continue raising interest rates, a Reuters poll found.

Rivian Automotive Inc delivered 4,467 vehicles in the second quarter, nearly four times more than the preceding quarter, as the electric-vehicle maker benefited from a ramp-up in production and strong demand.

Suspected jihadists storm Nigeria prison, free hundreds

The evacuation of civilians from Sloviansk continued Wednesday as Russian troops pressed towards the eastern Ukrainian city in their campaign to control the Donbas region, as Ireland's prime minister visited Kyiv.

The Mexican central bank's battle with inflation has underscored its autonomy as board members defy pressure from President Andres Manuel Lopez Obrador to keep interest rates lower to help the economy, officials, lawmakers and analysts say.

Italian rescue teams on Wednesday found two more victims of the glacier collapse in the Alps that is feared to have killed up to 12 people and is being blamed on rising temperatures.

Italian authorities sought on Wednesday to find the remaining victims of the glacier collapse in the Alps that is feared to have killed 12 people and is being blamed on rising temperatures.

Hollywood veteran Peter Chernin announced Wednesday that he is forming a new studio, betting that the appetite for new content will remain strong despite the pall cast over the streaming industry by Netflix Inc's recent subscriber losses.

Railway workers in France went on strike on Wednesday, disrupting travel across the rail network days before the summer holidays begin and at a time of unrest in other areas of the economy as high inflation eats into salaries.

Islamic State claimed responsibility on Wednesday for a raid on a Nigerian prison in the capital Abuja which freed around 440 inmates, raising fears that insurgents are venturing from their enclaves in the northeast.

Around 440 inmates are on the run after a suspected raid by Islamist Boko Haram militants on a prison in Nigeria's capital Abuja on Tuesday night, an interior ministry official said.

Thousands of revellers wearing white clothes and red scarves filled the streets of Spain's Pamplona on Wednesday as the bang of a firecracker kicked off the first San Fermin bull-running festival since the COVID-19 pandemic struck.

Sanctioned Russian businessman Vladimir Potanin is likely to represent the biggest barrier to a potential $60 billion merger between Russia's largest metals producers Nornickel (GMKN.MM) and Rusal, two sources with direct knowledge of the matter said.

Russian businessman Vladimir Potanin is likely to be the biggest barrier to a potential $60 billion merger between Russia's largest metals producers Nornickel and Rusal, two sources with direct knowledge of the matter said.

Russian businessman Vladimir Potanin is likely to be the biggest barrier to a potential $60 billion merger between Russia's largest metals producers Nornickel and Rusal, two sources with direct knowledge of the matter said.

U.S. stock indexes endured topsy-turvy trading on Wednesday but were broadly flat heading into the Federal Reserve publishing the minutes from its latest meeting, as investors awaited new clues on the central bank's rate policy and inflation fight.

U.S. stock indexes slipped on Wednesday as investors awaited minutes from the Federal Reserve's meeting to gauge the health of the economy and the pace of interest rate hikes to stamp out spiking inflation.

U.S. stock indexes slipped on Wednesday as investors awaited minutes from the Federal Reserve's meeting to gauge the health of the economy and the pace of interest rate hikes to stamp out spiking inflation.