Embattled President Pedro Pablo Kuczynski has offered his resignation to Peru's congress ahead of a scheduled vote on whether to impeach the former Wall Street investor on corruption charges, according to a presidential aide. If congress accepts the resignation, power would transfer to Vice President Martin Vizcarra, who is serving as Peru's ambassador to Canada.
The Federal Reserve is raising its benchmark interest rate to reflect a solid U.S. economy and signaling that it's sticking with a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell. The Fed said it expects to increase rates twice more this year. At the same time, it increased its estimate for rate hikes in 2019 from two to three, reflecting an expectation of faster growth and lower unemployment.
A Facebook shareholder is suing the social media giant for allegedly misleading investors in the Cambridge Analytica affair that's currently rocking the social network. Fan Yuan, who owns Facebook stock, filed a lawsuit Tuesday in the District Court of Northern California, located in San Francisco, on behalf of Facebook shareholders. Gizmodo first reported the lawsuit, which is seeking class action status. You can read the full complaint here.
The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.
Google has said it will invest US$300 million in helping news organizations to fight fake news and grow their businesses. The search engine giant will also invest in new technological tools to enhance online news consumption.
Britten-Norman has reported that it completed the first in a series of avionics upgrades to a fleet of five BN2B-26 Islanders owned and operated by the Falkland Island Government Aviation Services (FIGAS). The avionics are being upgraded to the Garmin G600 glass cockpit standard including the GTN650/750 GPS/NAV/COMM, GTX335R remote transponder and electronic engine instruments.
UK inflation was weaker than expected in February easing some of the squeeze on households' spending power but doing little to change bets on a Bank of England rate rise in May. Official data showed consumer prices rose by an annual 2.7% last month, the weakest increase since July of last year and down from a rise of 3.0% in January.
The ashes of Professor Stephen Hawking will be interred next to the grave of Sir Isaac Newton at Westminster Abbey, it has been revealed. The renowned theoretical physicist final resting place will also be near that of Charles Darwin, who was buried there in 1882. Prof Hawking, who had motor neuronal disease, died on 14 March, aged 76, at his home in Cambridge.
European officials said this week that significant obstacles remain to a long-delayed trade deal between the European Union and Mercosur, even as South American officials expressed optimism a deal would be finalized soon.
President Donald Trump congratulated Russian President Vladimir Putin on his re-election during a phone call on Tuesday and the two leaders agreed to hold talks soon. “We will probably get together in the not-too-distant future, so we can discuss arms, we can discuss arms race.” Trump told reporters before an oval office meeting with Crown Prince Mohammad bin Salman of the Kingdom of Saudi Arabia.