Author: Press Room

Social Democrat (SPD) interior minister of the state of Lower Saxony Boris Pistorius is to serve as Germany’s next defence minister, two sources told Reuters on Tuesday.Florian Gaertner / Contributor / Getty ImagesGerman Chancellor Olaf Scholz will appoint Boris Pistorius, the long-serving interior minister of Lower Saxony, to replace Christine Lambrecht as minister of defense, the government confirmed Tuesday morning.The Social Democrat Pistorius, 62, will receive his mandate on Thursday.The appointment comes within a day of predecessor Lambrecht’s resignation, tendered amid intense media scrutiny and escalating pressure over Germany’s response to the war in Ukraine.”The focus from the media over…

HANOI: Vietnam president Nguyen Xuan Phuc has resigned after the ruling Communist Party blamed him for “violations and wrongdoing” by officials under his control while prime minister, the government said on Tuesday (Jan 17). Phuc, 68, who was premier from 2016 to 2021, has held the largely ceremonial position of president for less than two years and is the highest-ranking official targeted by the party’s sweeping corruption crackdown. Vietnam has no paramount ruler and is officially led by four “pillars”: the powerful party’s secretary, the president, the prime minister and the chair of the legislature. “Fully being aware of his…

The International Monetary Fund’s Managing Director Kristalina Georgieva told CNBC Tuesday that the days of her institution giving regular global growth downgrades are nearly over.”I don’t see a downgrade now, but growth in 2023 will slow down,” Georgieva said at the World Economic Forum in Davos, Switzerland.”Our projection is that we will go by half a percentage point down vis-a-vis 2022. The good news though is that we expect growth to bottom out this year and 2024 to be a year in which we finally see the world economy on an upside,” Georgieva said.The International Monetary Fund has downgraded its growth…

[The stream is slated to start at 2:30 a.m. ET. Please refresh the page if you do not see a player above at that time.]Moderated by CNBC’s Steve Sedgwick, top business leaders discuss at Davos, Switzerland, how financial actors respond to ongoing disruptions while keeping pace with technological advancement.Joining CNBC is Ronald P. O’Hanley, the chairman and chief executive officer at State Street Corporation, Lynn Martin, president of NYSE Group Inc., Dan Schulman, the president and chief executive officer at PayPal, Mark Suzman, the chief executive officer of the Bill & Melinda Gates Foundation and Mohammed Al-Jadaan, the minister of…

A Mega Millions lottery ticket purchased in Maine was worth a staggering $1.348 billion this past Friday night. The winning jackpot is the fourth-largest the world has ever seen and the second-largest in Mega Millions game history, as FOX Business reported.While many people play the lottery with dreams of financial freedom and an escape from their current reality, one national expert is sounding the alarm about the practice, saying “predatory” gambling is America’s “most neglected major problem.”HUGE TAX ON MEGA MILLIONS $1 BILLION JACKPOT CAUSES OUTCRY ON SOCIAL MEDIA: ‘CONGRATS TO THE IRS’Les Bernal is national director of Stop Predatory Gambling, an organization…

Benjamin Franklin, scientist, philosopher, author and the most celebrated American on both sides of the Atlantic Ocean in the era of revolution, was born on this day in history, Jan. 17, 1706. The Founding Father’s bust and the words “Birthplace of Franklin” mark the site at 17 Milk St. in downtown Boston today. “If a 20th-century photographer had managed to commandeer a time machine and travel back to record the historic scenes of the revolutionary era, Franklin would have been present in almost every picture,” Joseph Ellis wrote in his Pulitzer Prize-winning 2000 history, “Founding Brothers.”ON THIS DAY IN HISTORY, JAN. 16,…

Goldman Sachs on Tuesday posted its largest earnings miss in a decade as revenue fell and expenses and loan loss provisions came in higher than expected.Here’s what the investment bank reported:Earnings: $3.32 per share vs. $5.48 estimate of analysts surveyed by RefinitivRevenue: $10.59 billion vs. $10.83 billionGoldman said quarterly profit plunged 66% from a year earlier to $1.33 billion, or $3.32 per share, about 39% below the consensus estimate. That made for the largest EPS miss since October 2011, according to Refinitiv data.Revenue held up better, at $10.59 billion, down 16% from a year earlier and just below the estimate.Shares…

China’s population shrank in 2022 for the first time in more than 60 years, a new milestone in the country’s deepening demographic crisis with significant implications for its slowing economy. The population fell in 2022 to 1.411 billion, down some 850,000 people from the previous year, China’s National Bureau of Statistics (NBS) announced during a Tuesday briefing on annual data. Analysts said the decline was the first since 1961 during the great famine triggered by former leader Mao Zedong’s Great Leap Forward. “The population will likely trend down from here in coming years. This is very important, with implications for…

China’s economy expanded by just 3% in 2022, far below the government’s own target, marking one of the worst performances in nearly half a century. Growth was impacted heavily by months of widespread Covid lockdowns and a historic downturn in the property market. Still, the number came in slightly better than market expectations, with some signs of stabilization in the final weeks of 2022 because of policy support in infrastructure investment and credit expansion. Gross domestic product (GDP) increased 2.9% in the fourth quarter, according to China’s National Bureau of Statistics on Tuesday. A Reuters poll of economists had previously…

All products featured on Vogue are independently selected by our editors. However, we may earn affiliate revenue on this article and commission when you buy something.As we ease back into our post-holiday reality, we don’t have to let go of our loungewear sets and athleisure just yet. In fact, thanks to a set of designers like Loewe and fashion darlings like Hailey Bieber, we’re not only encouraged to keep wearing our beloved track jackets and leggings but to find chicer and cooler ways to style them, too. When it comes to the latter, that’s where we come in. Elevated athleisure outfits begin with a…