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Month: August 2023

US approves first-ever military aid to Taiwan through program typically used for sovereign nations

By Kylie Atwood (CNN) — The Biden administration has approved funding for the first-ever transfer of US military equipment to Taiwan under a program typically saved for sovereign nations, according to a notification sent to Congress on Tuesday. The package – which is part of the State Department’s foreign military financing (FMF) program – totals

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China is still suffering from declining factory output. Demand for services is also slowing

By Laura He, CNN Hong Kong (CNN) — Factory activity in China contracted for a fifth straight month in August, adding pressure on Beijing to roll out more stimulus measures to bolster the faltering economy. The official manufacturing Purchasing Managers’ Index (PMI) — which surveys larger companies and state-owned enterprises — stood at 49.7 in

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Ousting of Gabon’s unpopular leader was a ‘smokescreen’ for soldiers to seize power, analysts say

By SAM MEDNICK Associated Press DAKAR, Senegal (AP) — Gabonese awoke Thursday to a new military leader after mutinous soldiers ousted a president whose family had ruled the oil-rich Central African nation for more than five decades. The new leader is Gen. Brice Clotaire Oligui Nguema, head of the elite republican guard unit, who soldiers

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UBS reports huge 2Q profit skewed by Credit Suisse takeover, foresees $10B in cost cuts

By JAMEY KEATEN Associated Press GENEVA (AP) — Swiss bank UBS announced plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, releasing its first earnings report since the government-orchestrated merger to help stave off a possible global financial meltdown. The announcement came as

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