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Featured

European Mediterranean states discuss Middle East, migration

Leaders from nine European countries around the Mediterranean Sea met in Cyprus Friday to discuss the wars in the Middle East, which they fear will fuel migration and threaten their own security.

Stock markets diverge before China weekend briefing

European and Asian stock markets diverged Friday ahead of a Chinese fiscal policy briefing this weekend which investors hope will bring more measures to boost the world's second-largest economy.

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US maternal mortality rate rose sharply in 2021: report

The US maternal mortality rate surged in 2021, the second year of the Covid-19 pandemic, with Black women more than twice as likely to die than white women, according to a report released on Thursday.

Stocks surge on 'dovish' ECB rate hike

Stocks surged higher Thursday after the European Central Bank went ahead with a big interest rate hike despite fears of a banking crisis but took a somewhat "dovish" tone for the future.

Russian transfers of Ukrainian children 'a war crime': UN probe

Russia's forced transfer and deportation of Ukrainian children to areas under its control amounts to a war crime, UN investigators said Thursday, adding that they are probing allegations of genocide in the Ukraine conflict.

From acclaim to blame: Lebanon's bank chief Riad Salameh

Lebanon's central bank chief Riad Salameh, once lauded for reviving the economy, faces investigations into his personal wealth and is widely viewed as a key culprit in the country's dramatic economic crash.

Shares of First Republic plunge after report of possible sale

Shares of First Republic Bank nosedived on Wall Street Thursday following a report that the embattled California bank is considering strategic options, including a possible sale.

Stocks waver after ECB rate hike

Stock markets wobbled on Thursday after the ECB went ahead with a big interest rate hike despite fears of a banking crisis.

ECB sticks to planned rate hike despite turmoil

The European Central Bank stuck to a planned interest rate increase Thursday as it remained laser-focused on battling sky-high inflation despite market turmoil over fears of a widening banking crisis.

Ten trapped miners found dead in Colombia, toll rises to 21

Ten workers trapped in a coal mine in central Colombia were found dead, bringing the death toll from an explosion in the pit to 21, President Gustavo Petro said Thursday.

Credit Suisse bounces back but investors still cautious

Credit Suisse rallied on the stock market Thursday after grabbing a $54 billion central bank lifeline in a bid to restore investor confidence but analysts remain wary about the major lender's future.

Deliveroo reduces losses on cost-cutting

Deliveroo reduced net losses last year on cost-cutting, while revenues rallied on higher pricing in the face of soaring global inflation, the international food delivery app said Thursday.

Clashes in Greece as thousands protest train tragedy

Greek police fired tear gas and protesters hurled firebombs on Thursday as more than 40,000 people took to the streets to slam the government and voice outrage at last month's train disaster that killed 57 people.

European stocks rebound as Credit Suisse grabs lifeline, ECB meets

European stock markets rebounded slightly Thursday after troubled banking giant Credit Suisse secured a big financial lifeline and before a crucial interest-rate decision by the European Central Bank.

France to force Paris binmen back to work as trash stacks up

France will force Paris rubbish collectors to return to work after a days-long strike against pension reforms has left many streets in the capital piled with stinking waste.

Macron faces 'moment of truth' over French pension reform

A proposed reform of France's pension system, which has sparked massive protests and strikes since the start of the year, is poised for a final vote in parliament on Thursday in a decisive moment for President Emmanuel Macron.

Embattled Credit Suisse shares rebound after $54 billion lifeline

Credit Suisse shares surged more than 30 percent Thursday after announcing it would borrow up to $53.7 billion from the Swiss central bank following a market drubbing over fears of a global banking crisis.

Asian markets sink but Europe rallies on Credit Suisse loan hope

Asian markets slid Thursday with contagion fears hitting banks but European equities rallied after troubled banking giant Credit Suisse said it had taken a huge loan from the Swiss central bank.

Embattled Credit Suisse takes $54 billion lifeline

Credit Suisse announced Thursday that it would borrow up to $53.7 billion from the Swiss central bank as it seeks to calm markets after its shares sank over fears of a global banking crisis.

Baidu shares fall after disappointing AI chatbot debut

Chinese search engine company Baidu's shares fell as much as 10 percent on Thursday after the company unveiled its ChatGPT-like AI software, with investors unimpressed by the bot's display of linguistic and maths skills.

Sweden rediscovers poverty as inflation soars

It's not yet 6 am and dozens of homeless people are already queuing outside Stockholm's central station for breakfast, their numbers bigger than ever, charities say.

Asian markets sink as Credit Suisse fuels bank contagion fears

Asian markets slid Thursday, led again by banks, with contagion talk sweeping across trading floors owing to fears about European giant Credit Suisse.

Market turmoil tests ECB rate hike appetite

European Central Bank governors will meet Thursday, with fears over a widening banking crisis testing their resolve to raise interest rates again by a hefty half percentage point.

Macron faces 'moment of truth' as French pension reform goes to vote

A proposed reform of France's pension system, which has sparked massive protests and strikes since the start of the year, is to be put to a vote in parliament on Thursday in a decisive moment for President Emmanuel Macron.

Banks feel impact as Asian markets are hit by contagion fears

Asian markets slid Thursday, led again by banks, with contagion talk sweeping across trading floors owing to fears about European giant Credit Suisse.

Credit Suisse says it will borrow up to $53.7 bn from central bank

Credit Suisse announced Thursday that it would borrow almost $54 billion from the Swiss central bank to reinforce the group after a plunge in its share prices.

Bret Easton Ellis: 'I was always suspicious of wealth'

Bret Easton Ellis is characteristically blunt about the central theme of all his work -- in his words: "the rich, and how fucked up they are".

Social media frenzy fuels bank busting panic

Fearful Twitter posts and anxious WhatsApp exchanges coupled with online banking ease are seen as helping power an internet-age run on a pair of now-collapsed American lending institutions.

Push for carbon-free hydrogen accelerates in US

A source of renewable and storable energy, hydrogen is experiencing a breakthrough in the United States after years of sluggish growth as Biden administration climate policies spark major investments.

Banking shares battered as global markets wobble on contagion fears

Banking shares in Europe and the United States suffered another walloping Wednesday as reverberations from the financial sector's troubles dented oil prices and lifted the dollar.

Credit Suisse customers confident despite stock slump

Credit Suisse customers in Geneva were not spooked by the bank's plunge on the stock exchange Wednesday, believing the Swiss government would ride to the rescue before it could ever collapse.

Hundreds of thousands of workers strike in latest UK industrial action

Teachers, London Underground train drivers and civil servants joined striking doctors Wednesday in a mass stoppage, just as Britain's finance minister Jeremy Hunt unveiled his tax and spending plans.

Garbage mounts in Paris as Macron eyes French pension reform vote

Uncollected rubbish mounted in the streets of Paris on Wednesday and hundreds of thousands of people marched in last-gasp protests against French President Emmanuel Macron's pension reform which is set to go before parliament.

UK unveils cost-of-living budget as strikes rage

Britain's government on Wednesday vowed a hefty £94 billion ($114 billion) in cost-of-living support for this year and next, as it forecast the UK to stay out of recession and inflation to slow sharply.

Damages claim against BHP over Brazil dam jumps to £36bn: law firm

A damages claim faced by global mining firm BHP over a deadly 2015 Brazilian dam collapse has risen to an estimated £36 billion ($44 billion), the legal firm leading the UK class action said on Wednesday.

US retail sales and producer prices fall, easing Fed pressure

US retail sales and wholesale prices slipped in February, according to government data released Wednesday, providing some respite for policymakers as the central bank prepares for a crucial interest rate decision next week.

SVB collapse calls for finance rethink: Stiglitz

In the wake of the collapse of Silicon Valley Bank that has shaken world markets, Nobel economics prize laureate Joseph Stiglitz told AFP that US authorities "did the right thing" to protect deposits but said the financial system needs a rethink.

Search on for 10 trapped miners after Colombia blast kills 11

Rescuers battled Wednesday to save ten workers trapped in a coal mine in central Colombia after an explosion that killed 11.

Stock markets in 'bloodbath' as bank fears resurface

Stock markets sank on Wednesday on renewed fears of a burgeoning banking crisis, snapping a one-day rally as Credit Suisse led a rout in shares of major lenders.

Strikes-hit UK pledges £94 bn in cost-of-living budget

Britain on Wednesday said its cost-of-living support for this year and next would total £94 billion ($114 billion), as it forecast the UK to stay out of recession with inflation slowing sharply.

Coin Press - Economy (English)