Coin Press - Economy

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Russia, China step up cybercriminal recruitment, warns Microsoft

Russia, China and North Korea are becoming more aggressive and sophisticated in their recruitment of cybercriminals to steal money, gain intelligence and sway elections, Microsoft said in a threat report released Tuesday.

Boeing to raise up to $25 bn as strike weighs on finances

US aircraft manufacturer Boeing unveiled measures meant to replenish its cash flow Tuesday, including an intention to raise up to $25 billion, as it navigates recurrent production problems and a major US strike.

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Yen swings after Bank of Japan policy tweak

The yen fluctuated Friday after Japan's central bank tweaked its ultra-loose monetary policy, while stocks markets traded mixed after forecast-beating US data revived concerns the Federal Reserve could hike interest rates further.

Stagnant German growth clouds eurozone economy

Flatlining German growth figures on Friday contrasted with positive performances in France and Spain, adding to worries that the traditional manufacturing powerhouse could become a drag on the eurozone economy.

Crisis-hit NatWest bank launches review into Farage case

British bank NatWest on Friday said it had launched an independent review into its handling of arch-Brexiteer Nigel Farage, whose account it controversially shut, costing the jobs of top executives.

Battle against Greece wildfires 'improving': fire service

The fight against deadly wildfires raging in Greece for more than a week is improving, the fire service said on Friday, warning it remained on alert as fierce winds were forecast that could rekindle blazes.

Germany's pivotal chemicals industry gripped by crisis

Thomas Kadowsky imagined that he would keep working at the German industrial coatings plant where he had served as team leader for over 30 years until he retired.

Yen swings after Bank of Japan policy tweak, Asian equities mixed

The yen fluctuated Friday after Japan's central bank tweaked its ultra-loose monetary policy, while other Asian stocks were mixed after forecast-beating US data revived concerns the Federal Reserve could hike interest rates further.

British Airways parent IAG flies back to profit

IAG, parent of British Airways, said Friday it returned to first-half profit as the aviation sector recovers from the Covid pandemic despite inflation lifting company costs and ticket prices.

Bank of Japan to allow 'greater flexibility' in controlling bond yields

The Bank of Japan on Friday eased its grip on its ultra-loose monetary policy in a small step towards normalisation as inflation accelerates and the yen comes under pressure against other major currencies.

Yen rallies after Bank of Japan policy tweak, Asian equities mixed

The yen rallied and Japanese stocks fell after the country's central bank tweaked its ultra-loose monetary policy on Friday, while other Asian stocks were mixed after forecast-beating US data revived concerns the Federal Reserve could hike interest rates further.

'Happy Dancing' routine boosts fitness in fast-ageing China

Hundreds of dancers twirl in unison by a riverside in northeastern China, thrusting hips and shimmying shoulders in an unusual but beloved routine that has taken the country by storm.

Asian markets drop after Wall St loss, yen rises ahead of BoJ

Equities fell Friday following a sell-off on Wall Street where forecast-beating data revived concerns the Federal Reserve could hike interest rates further, while speculation swirled that the Bank of Japan could be preparing to shift from its era of easy money.

Ford raises 2023 profit outlook but sees bigger EV loss

Ford lifted its full-year forecast Thursday after quarterly earnings nearly tripled on strong vehicle pricing in conventional autos that offset losses in electric vehicles (EV).

Former Twitter exec says a mercurial Musk rules by 'gut'

A fired Twitter product manager said Elon Musk ran the company newly renamed X by instinct not data, surrounded by sycophants with his mood changing unpredictably.

European stocks rally, Wall Street slumps on interest rate concerns

Stock markets had a mixed showing Thursday as European indices rallied while Wall Street slipped on concerns over interest rates.

L'Oreal boosts sales despite Asia disappointment

French beauty products giant L'Oreal said Thursday it managed double-digit revenue growth in the first half of the year although sales stagnated in Asia.

US Fed's inflation fight enters new phase

The US Federal Reserve's united front against inflation could be harder to hold together going into the next hike in September, with strong economic data and falling inflation figures fueling disagreement over the best path forward.

Stock markets rally as traders see end to rate hikes

Stock markets mostly rallied Thursday as traders bet on the US Federal Reserve and European Central bank having made their last interest rate hikes.

UN warns of 'unfolding tragedy' as migrants dumped by Tunisia borders

The United Nations said Thursday it was deeply concerned for the safety of hundreds of migrants stranded in Tunisia following their removal to remote parts of the North African country.

Farage row takes down another top exec at UK bank group

The head of NatWest's private banking arm Coutts resigned on Thursday, the second top executive to quit the group following a row over the closure of the account of arch-Brexiteer Nigel Farage.

ECB opens door to pause in rate hiking campaign

The European Central Bank lifted a key interest rate to its highest level since early 2001 on Thursday as it fights stubborn inflation but opened the door to pausing its aggressive hiking cycle.

US economy picks up steam despite expectations of slowdown

The US economy defied expectations to see growth pick up in the second quarter, according to government data released Thursday, supported by business investment and resilient consumer spending.

ECB lifts key rate to highest since early 2001 in inflation fight

The European Central Bank on Thursday raised borrowing costs a quarter percentage point, taking a key rate to its highest level since early 2001 as its battle against surging inflation reached the one-year mark.

Syria fishermen despair at water loss, river pollution

Around war-torn Syria's biggest freshwater dam reservoir, fishermen say their catch is now a fraction of what it used to be as environmental pressures have decimated aquatic life.

Stock markets rally as traders see end to Fed rate hikes

Stock markets mostly rallied and the dollar slid Thursday as traders bet on the Federal Reserve's latest interest-rate hike being its last.

Almost 800 migrants drowned off Tunisia in six months: National Guard

Almost 800 irregular migrants drowned off Tunisia in the first half of this year as they tried to reach Europe by boat, a National Guard spokesman told AFP Thursday.

Turkish central bank doubles inflation forecast

Turkey's central bank more than doubled its year-end inflation forecast to 58 percent on Thursday as its new Wall Street-trained governor vowed to keep raising interest rates after years of controversial policies.

Oil, gas majors post sliding profits on weaker prices

Shell and other energy majors posted sliding net profits Thursday after oil and gas prices weakened in the first half.

Markets mostly rise as traders bet on end to Fed rate hikes

Most markets rose Thursday on hopes the Federal Reserve's latest interest rate hike will be its last as data indicates inflation is being brought under control and the US economy is set to avert a recession.

World Cup mums balance parenting with football ambitions

Jamaican Women's World Cup player Cheyna Matthews tears up when she recalls one of her three little boys saying: "Why are you always gone so long?"

Volkswagen profits dip as it struggles in China

Volkswagen said Thursday its profits slipped in the second quarter as it battles to regain ground in China, the German auto giant's most important market.

Nigeria's end to petrol subsidies hits Niger black market

On the road linking Niger's capital Niamey with the south of the country, illegal fuel warehouses have closed and intrepid black-market touts waving petrol canisters at passing cars have become an endangered species.

ECB to mark year of hikes with inflation still high

European Central Bank policymakers looked set to deliver another interest rate increase on Thursday as their fight against eurozone inflation reaches the one-year mark with consumer prices still rising fast.

Drought-hit N.Africa turns to purified sea and wastewater

From Tunisia to Morocco, sun-baked North Africa has embarked on a building spree of plants that purify sea and wastewater as climate change intensifies droughts in the water-scarce region.

Asian markets rally as traders bet on end to Fed rate hikes

Equity markets rose Thursday on hopes that the Federal Reserve's latest interest rate hike will be its last as data indicates inflation is being brought under control and the US economy appears set to avert a recession.

Country song jangles US nerves on race and violence

When Jason Aldean released the video for his song "Try That in a Small Town" in mid-July, which critics say glorified violence and fueled racism, the singer catapulted country music into the latest debate illustrating America's socio-political divides.

Vibrating vests translate music for deaf concertgoers

The violins reverberate in the ribcage, while cello and bass are felt a little further down, with horns in the shoulders and, more often than not, soloists in the wrists.

Mattel reports profit dip despite 'Barbie' blockbuster glow

American toy maker Mattel on Wednesday reported a drop in profits compared to last year, due to lower sales including a decline in Barbie products in the second quarter.

'Fight is on' at deep sea mining debate in Jamaica

Nations opposed to deep sea mineral mining and those in favor of exploiting the oceans' depths butted heads in Jamaica on Wednesday, with both sides arguing their position would help protect the planet.

US Fed lifts rates to highest since 2001 and hints at more to come

The US Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled it could hike again later this year amid improving economic prospects.

Coin Press - Economy (English)