Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.

Forex

The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

World

4 Nov 2021

French-Australian Relations Strained After U.S Submarine Pact

The Index Today

Relationship between France and Australia has become worse after officials showed disapproval of the defense agreement signed by the U.S and Australia. Since the pact, under which Australia will acquire submarine nuclear propulsion technology, France faces losses of $65 billion in order to supply submarines to the nation.

French President Emmanuel Macron texted that the agreement was leaked to the media in Australia and classified it as an “unprecedented low.” Prime Minister Scott Morrison was earlier asked by reporters if the government was responsible for the leaking of the text to which he responded, “well, claims has been made and those claims were refuted.”

French Ambassador Jean-Pierre Thebault said to reporters, “You don’t behave like this on personal exchanges of leaders who are allies. Doing so also sends a very worrying signal for all heads of states: Beware, in Australia there will be leaks and what you say in confidence to your partners will be eventually used and weaponized against you one day.”

According to Mr. Thebault, the leak of the test messages showed how France was unaware of the situation and had been kept in the dark deliberately. He further stated, “It completely demonstrates that nothing has ever been told to us.” As the submarine deal proved to be a snub to France, the escalating tensions only increase geopolitical issues.

©Photo: theaustralian

Clay pottery with table linens