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April 22nd-28th 2023 Ukraine’s game planFox News
reached a settlement
with
Dominion VotingThe EconomistFox News
reached a settlement
with
Dominion Voting
Systems
over the broadcaster’s
fake claims that Dominion’s
machines helped “steal” the
election in 2020 from Donald
Trump. The $787.5m settle
ment is the biggest ever in a
media defamation case. The
deal was reached just ahead of
a trial that would have called
Rupert Murdoch, who controls
Fox, as a witness. In pretrial
hearings the judge had dis
missed Fox’s claim that it was
merely reporting allegations,
and said the jury’s task would
be to determine if it had
acted maliciously.
Britain’s annual rate of
inflation
dipped in March to
10.1%, still stubbornly high and
now twice America’s rate of
5%. Food prices rose the most
in 45 years. Rishi Sunak, the
prime minister, promises to
cut inflation by half this year.
China’s economy
grew by
4.5% in the first quarter, year
on year, beating the expecta
tions of most economists. The
government lifted its zero
covid restrictions in Decem
ber, reopening the country to
pentup demand. The statistics
bureau warned, however, that
the recovery is not yet solid.
The collapse of Silicon Valley
Bank in March didn’t harm
business at most of
America’s
big banks
in the first quarter.
Net profit was up by around
50% at JPMorgan Chase, year
on year, 32% at Wells Fargo,
15% at Bank of America and 7%
at Citigroup. Profit plummeted
by 18% at Goldman Sachs,
however, because of poor
revenue from fixed income,
currencies and commodities
trading. Profit was also down
at Morgan Stanley, by 19%.
Credit Suisse
can’t get a break.
After collapsing in March, the
bank faced claims this week
from American senators that it
had hampered an investiga
tion into the “historical servic
ing of Nazi” accounts, which in
some cases continued until
2020. The claims relate to an
investigation by the Simon
Wiesenthal Centre. Credit
Suisse released the results of
an independent inquiry that
refutes the allegations.
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