Coin Press - Economy

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Featured

Small Quebec company dominates one part of NHL hockey: jerseys

As a sport that involves men colliding at high speeds, bare-knuckle brawls, and a fair number of players with missing front teeth, ice hockey is not commonly linked to high fashion.

Boeing to cut 10% of workforce as it sees big Q3 loss

Boeing announced Friday that it plans to cut 10 percent of its workforce as it projected a large third-quarter loss in the wake of a machinist strike in the Seattle region.

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Asian markets rise as dollar falls on Fed rate hopes

Asian markets mostly rose Thursday and the dollar retreated, brushing off a Wall Street retreat on hopes the Federal Reserve's latest interest rate hike would be one of its last.

Asian markets fall with Wall St after Fed rate hike, warning

Asian markets skidded Thursday, tracking losses on Wall Street after the US Federal Reserve hiked interest rates again and dealt a blow to hopes it could cut them later in the year to soothe worries over the banking sector.

After Fed, Europe's central banks to decide on rates

A clutch of European central banks announce interest-rate decisions Thursday as markets remain jittery over turmoil in the global banking sector.

Brazil's Lula irks foreign oil companies with new tax

Brazilian President Luiz Inacio Lula da Silva has not even been in power for 100 days but has already provoked the wrath of foreign oil companies with the creation of a new tax on crude exports.

US Fed lifts key interest rate, voices banking sector concerns

The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector.

US stocks tumble after Fed rate hike, concerns on economy

Wall Street stocks slumped Wednesday as the US Federal Reserve continued hiking interest rates to fight inflation, while noting that banking sector turmoil could weigh on the economy.

US Fed lifts key interest rate amid banking sector fears

The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector.

Stock markets mark time before crucial Fed rate call

Wall Street stocks marked time and European markets made timid gains on Wednesday as investors awaited the US Federal Reserve's latest interest rate decision following upheaval in the banking sector.

Five years after his death, Philip Roth's concern for US democracy lives on

Five years after his death, Philip Roth's concern for the state of American democracy lives on, evidenced during a sprawling celebration and debate of the writer's legacy on what would have been his 90th birthday.

Army convoy brings food to blockaded Burkina city

An army convoy has delivered desperately-needed supplies to a northern Burkina Faso city that has been blockaded by jihadists for months, locals and security sources told AFP Wednesday.

Debt-ridden China Evergrande rolls out restructuring plan

Troubled Chinese property giant Evergrande unveiled on Wednesday a long-awaited restructuring proposal for its massive debts, as it fights off a winding-up court petition brought by creditors in Hong Kong.

Stock markets mixed before crucial Fed rate call

Wall Street fell but European stock markets rose on Wednesday as investors awaited the US Federal Reserve's latest interest rate decision following upheaval in the banking sector.

Greek trains resume after rail disaster: operator

Some intercity rail travel resumed in Greece on Wednesday for the first time since a head-on collision killed 57 people in the nation's worst rail disaster more than three weeks ago, operator Hellenic Train said.

Greek trains back on track after rail disaster: operator

Intercity rail travel resumed in Greece on Wednesday for the first time since a head-on collision killed 57 people in the nation's worst rail disaster more than three weeks ago, operator Hellenic Train said.

Gaming giant Tencent's 2022 annual net profit falls 16%

Chinese gaming giant Tencent's profits fell steeply last year, according to an earnings report released Wednesday, as the country's tech sector weathers a government crackdown and a shaky economy.

Stock markets mostly rise before crucial Fed rate call

Major stock markets mostly rose Wednesday on soothing worries over the banking sector, according to analysts.

Xi departs Moscow, Russia strikes Ukraine school

A Russian drone attack on a school near Kyiv killed at least four people before Chinese leader Xi Jinping left Moscow on Wednesday at the close of a summit with President Vladimir Putin.

US Fed mulls more rate hikes after banking turmoil

US banks will be paying especially close attention to the Federal Reserve's interest-rate decision on Wednesday after two weeks of market turmoil over the collapse of three regional lenders.

Greek trains resume after February rail crash: operator

Intercity rail travel in Greece resumed on Wednesday for the first time since a head-on collision of two trains killed 57 people more than three weeks ago, operator Hellenic Train said.

Sri Lanka leader warns hard times to follow IMF bailout

Sri Lanka's president warned Wednesday of more economic pain to come for the crisis-hit nation, with strict austerity measures needed to restore its ruined finances after an IMF bailout deal.

Meet the youth reframing the news for TikTok, YouTube

In the suburbs of Madrid, four young women are hard at work creating videos summarising the news that is viewed every day by millions of people on TikTok.

Maduro appoints new Venezuela oil minister after corruption scandal

Venezuelan President Nicolas Maduro appointed a new petroleum minister on Tuesday after the department's powerful former boss resigned over an anti-corruption crackdown that has seen several high-ranking officials arrested.

Xi departs Russia after 'new era' summit with Putin

Chinese leader Xi Jinping left Russia on Wednesday after a summit with President Vladimir Putin that was a display of unity against the West, with no apparent signal of a breakthrough to end the fighting in Ukraine.

US Fed mulls more rate hikes amid banking uncertainty

American banks will be paying especially close attention to the Federal Reserve's interest-rate decision on Wednesday, as the collapse of Silicon Valley Bank (SVB) continues to reverberate through financial markets.

Gaza fisherman tests waters in legal fight over Israeli blockade

Gaza fisherman Jihad al-Hissi is used to rough waters but he now faces a new storm. An Israeli court may seize his boat after he breached the limits of the enclave's fishing zone.

Chip war and censorship hobble Chinese tech giants in chatbot race

Search giant Baidu's lacklustre unveiling of its chatbot exposed gaps in China's race to rival ChatGPT, as censorship and a US squeeze on chip imports have hamstrung the country's artificial intelligence ambitions.

Asia tracks Wall St rally as Fed decision replaces bank worries

Asia extended a global equities rally Wednesday as more pledges of government support soothed worries over the banking sector and provided some much-needed stability after more than a week of upheaval.

Swiss sweat over size of new superbank

The arranged marriage of UBS and Credit Suisse will create the biggest bank Switzerland has ever seen, with some wondering if the superbank might be too big for its own good.

Suit says Meta board 'turned blind eye' to human trafficking

A shareholder lawsuit filed late Monday accuses board members of Instagram and Facebook parent Meta of shirking their duties by ignoring human and sex trafficking on the tech giant's social platforms.

Xi, Putin hail 'new era' of ties in united front against West

China and Russia's leaders hailed a "new era" in their relationship on Tuesday, putting on a united front in Moscow as Vladimir Putin accused the West of rejecting Beijing's proposals to end the Ukraine conflict.

Le Pen warns France at risk of 'social explosion' over pensions reform

French far-right leader Marine Le Pen warned Tuesday that President Emmanuel Macron was pushing the country to the verge of a "social explosion" with his highly contested pensions reform.

UK food delivery app to axe more than 1,700 jobs

Food delivery platform Just Eat Takeaway unveiled plans Tuesday to axe more than 1,700 mostly courier jobs in Britain, as it slashes costs in the wake of huge annual losses.

Google opens chatbot Bard for testing in US and UK

Google on Tuesday invited people in the United States and Britain to test its AI chatbot, known as Bard, as it scrambles to catch up with Microsoft-backed ChatGPT.

Water turmoil in Cameroon's boom city casts shadow over precious resource

Dawn breaks in Cameroon's economic hub, the seething metropolis of Douala, and a crowd gathers at the water spigots by the Guinness brewery in the run-down district of Bassa.

Swiss brace for major job losses after Credit Suisse buyout

Tens of thousands of jobs could disappear in Switzerland following UBS's emergency takeover of its troubled rival Credit Suisse, observers warned Tuesday, as unions demanded a rescue package for banking staff.

Xi seeks tighter cooperation with Russia at Kremlin talks

Xi Jinping promised to strengthen coordination with Russia at a Kremlin summit with President Vladimir Putin on the Chinese leader's first visit to Moscow since the beginning of Russia's assault on Ukraine.

US home sales bounce in February, ending 12-month slide

Sales of existing homes in the United States made their biggest monthly jump since 2020 in February, ending a year of declines according to industry data released on Tuesday.

Kenya arrests 200 in violent protests as opposition calls fresh rallies

Kenya's opposition leader Raila Odinga on Tuesday vowed no let-up in his protest campaign against the government, after a day of violent demonstrations that saw more than 200 people arrested.

Stocks extend rally as bank panic eases

Stock markets extended gains on Tuesday, with bank shares rallying as fears of a financial crisis eased after authorities moved to shore up the sector.

Coin Press - Economy (English)