News
South African president criticises global travel bans as Omicron spreads
The president of South Africa has condemned travel bans enacted against his country and its neighbours over the new coronavirus variant Omicron
The president of South Africa, Cyril Ramaphosa stated that he was “deeply disappointed” by the action, which he described as unjustified, and called for the bans to be urgently lifted.
The UK, EU and US are among those who have imposed travel bans.
Omicron, a new strain of COVID-19, has been classed as a “variant of concern”. Early evidence suggests it has a higher re-infection risk.
The heavily mutated variant was detected in South Africa earlier this month and formally reported to the World Health Organization last Wednesday.
The variant is responsible for most of the infections found in South Africa’s most populated province of Gauteng, over the last two weeks, and is now present in all other provinces in the country.
The World Health Organization has warned against countries hastily imposing travel restrictions, stating that they should look to a “risk-based and scientific approach”. However, numerous bans have been introduced in recent days amid concerns over the variant.
WHO’s Africa director Matshidiso Moeti said on Sunday: “With the Omicron variant now detected in several regions of the world, putting in place travel bans that target Africa attacks global solidarity.”
“No need to panic”
Speaking to ticker NEWS, Former WHO epidemiologist, Professor Adrian Esterman says while much is still unclear about the new variant – there is no need to panic.
“I would imagine vaccines would still offer some kind of protection against new strains as they arise”
The professor told ticker news.
News
Big Tech earnings spark investor unease over AI spending
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors monitor Big Tech’s AI investments, with Meta thriving while Microsoft and Tesla face uncertainty over growth and returns.
Investors are reacting sharply to Big Tech earnings this week, sending a clear signal that massive spending must translate into real growth. Markets are becoming less forgiving as companies pour billions into artificial intelligence, data centres and future tech while returns remain uncertain.
Meta has delivered a standout performance, posting a 24 percent jump in revenue for the December quarter, fuelled by AI-powered advertising. The company is doubling down on its strategy, with aggressive investment in AI and infrastructure expected to drive a further 33 percent growth this quarter.
Microsoft and Tesla tell a more cautious story. Microsoft reported only modest growth in its Azure cloud business, raising questions about its exposure to OpenAI, while Tesla plans to double spending on AI and autonomous driving. Analysts warn of a widening gap between bold AI ambitions and what investors expect in returns.
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News
Federal Reserve holds interest rates amid economic uncertainty
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut. #FederalReserve #InterestRates #Economy
Federal Reserve holds interest rates steady, balancing inflation and jobs, as some governors advocate for a cut.
The Federal Reserve has opted to keep interest rates unchanged, marking the first pause since July. Officials are showing little urgency to resume cuts, even after previous rate reductions.
Two Fed governors opposed the decision, calling for a quarter-point cut, highlighting ongoing debates within the rate-setting committee, which includes both appointed governors and regional bank presidents.
Concerns over the job market and persistent inflation continue to weigh heavily on the Fed’s policy decisions, leaving economists and investors closely watching the next moves.
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#FederalReserve #InterestRates #Economy
News
Trump warns Iran as U.S. naval forces approach amid rising tensions
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and tensions rise.
Trump urges Iran to resume nuclear talks or face stronger U.S. military response amid economic struggles and rising tensions.
U.S. President Donald Trump has urged Iran to return to nuclear negotiations, warning that failure to do so could result in a far more severe military response. Posting on Truth Social, Trump signalled a hardening stance as tensions between Washington and Tehran continue to rise.
Trump confirmed that a U.S. naval strike group led by the USS Abraham Lincoln is moving towards Iran, as protests grow inside the country over alleged government repression.
The show of force comes amid heightened regional instability and mounting pressure on the Iranian leadership.
#Trump #Iran #USForeignPolicy
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