Coin Press - Economy

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Featured

Global stocks diverge as Chinese shares tumble

Wall Street shares steadied Wednesday as investors awaited new signals on interest rates but Chinese stocks tumbled on continued disappointment over a lack of fresh stimulus in the world's second biggest economy.

Creator's death no bar to new 'Dragon Ball' products

Fans of the "Dragon Ball" franchise are set to see a host of product launches in the coming weeks, including a new video game and animated series, despite the series creator having died this year.

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Sakhalin exception: the Russian energy Japan can't quit

This year's Group of Seven president Japan has joined the bloc's condemnation of Russia's Ukraine invasion, imposing sanctions and agreeing on an oil price cap, with one exception: Moscow's Sakhalin energy projects.

France gears up for 'hellish' day of pension protests

France's government was facing a day of strikes and protests Thursday set to disrupt transport and schooling across the country as workers oppose a deeply unpopular pensions overhaul.

Bird statue fetches $100,000 as Musk auctions Twitter HQ items

A Twitter bird statue fetched $100,000 on Wednesday as Elon Musk auctioned off furniture, decorations, kitchen equipment and more from the tech firm's downtown San Francisco headquarters.

Japan's 2022 trade deficit hits record on energy costs

Japan logged its largest ever annual trade deficit last year, with the soaring price of energy and raw materials compounded by the dramatic fall of the yen.

Asian markets track Wall St lower as recession fears return

Most stocks dropped alongside oil prices Thursday and the dollar weakened after disappointing US data renewed worries about a recession in the world's biggest economy.

Saudi camel-whisperers use 'special language' to train herd

The cries of camel herder Hamad al-Marri mean nothing to the untrained ear, but his animals respond instantly, gathering behind him to walk together across the Saudi desert.

Jury hears Musk told 'lies' that cost Tesla investors millions

A lawyer for angry Tesla investors told a California courtroom on Wednesday that CEO Elon Musk "lied" about having funding in place to take the company private, costing his clients millions of dollars.

Microsoft to axe 10,000 jobs as tech gloom deepens

Microsoft on Wednesday said it would lay off 10,000 employees in the coming months as the economic downturn continues to punish US tech giants.

US stocks retreat while Bank of Japan decision weighs on yen

Wall Street stocks tumbled Wednesday as traders weighed the latest US data showing slowing economic activity, while the yen retreated after the Bank of Japan decided against further tweaking monetary policy.

International arrests over 'criminal' crypto exchange

The owner of China-based cryptocurrency exchange Bitzlato was arrested in Miami on Wednesday, along with five associates in Europe, during an international operation against "darknet" markets.

Champagne celebrates record sales in 2022

The waning Covid pandemic in many parts of the world helped put people in a celebratory mood, industry leaders said Wednesday, driving 2022 Champagne sales to an all-time high above six billion euros.

US arrests Russian crypto boss for alleged criminal 'haven'

US authorities said Wednesday they had arrested the owner of China-based cryptocurrency exchange Bitzlato for alleged money laundering, hailing the move as a global "blow to the cryptocrime ecosystem."

UK millionaire says rich people like him should be taxed more

A rich Briton is among a group of millionaires in Davos pushing for governments to tax those like him more in order to bridge a wealth gap he warns is fragmenting the world.

Microsoft says it will axe 10,000 employees over poor economy

Microsoft on Wednesday said it would lay off 10,000 employees in the coming months as the economic downturn continues to punish US tech giants.

US retail sales shrinks by most in a year as growth engine falters

US retail sales slumped for a second straight month in December, said government data on Wednesday, with its largest drop in a year signaling a key growth engine is faltering.

US retail sales shrinks for second straight month on consumer caution

Retail sales in the United States slumped for a second straight month in December, according to data released Wednesday, as consumers grow cautious on economic uncertainty and measures to ease demand bite.

'No beds, not enough doctors': UK healthcare crisis laid bare

Five-year-old Yusuf Mahmud Nazir died from pneumonia after being sent home, despite a doctor describing his tonsillitis as the worst he had ever seen.

Burberry fashions rising sales despite China slump

British luxury fashion house Burberry, renowned for its handbags and trenchcoats, announced rising sales Wednesday despite a Covid-driven slump in China and tough economic climate globally.

Tokyo stocks surge, yen sinks as Bank of Japan holds policy

Tokyo's stock market surged, with exporters boosted by a tumbling yen after the Bank of Japan decided against further tweaking monetary policy.

Uber resumes services in Tanzania

Ride-hailing giant Uber has resumed its services in Tanzania, it said on Wednesday, settling a fare dispute with the government.

'Pressing need' for US, China to communicate on economic issues: Yellen

Close communication between the United States and China on economic issues is vital, US Treasury Secretary Janet Yellen said Wednesday ahead of a meeting with a top Chinese official in Zurich.

At Davos, Saudi Arabia says curbing oil dependency a priority

Saudi Arabia is working to reduce its reliance on oil exports, Economy Minister Faisal Al-Ibrahim said Wednesday, as the Middle East powerhouse sent one of the largest delegations to the Davos summit to make its case.

Moving house: Arctic mining town's move divides residents

Each time he boasts about the colossal relocation of his town centre in the Swedish Arctic, Kiruna mayor Gunnar Selberg gets a dressing-down from a very dissatisfied resident: his wife.

Taiwan records biggest economic contraction since 2009

Taiwan's economy shrank in the final quarter of 2022, the government said Wednesday, in the island's worst quarterly contraction since it was hammed by the global financial crisis in late 2009.

UK inflation slows in December but remains sky-high

Annual inflation in Britain slowed to 10.5 percent in December, official data showed Wednesday, but remained close to historically high levels that are causing a cost-of-living crisis and mass strikes.

Marvel movies return to China after nearly 4-year break

Chinese film fans on Wednesday celebrated the return of Marvel movies to the country's cinemas after an absence of nearly four years.

Macau jails 'junket king' Alvin Chau for 18 years

Macau's former "junket king" Alvin Chau was sentenced on Wednesday to 18 years in jail for running an illegal gambling empire, ending a criminal trial that shocked the casino hub and toppled one of its highest-profile gaming tycoons.

Staff shortages dent Hong Kong air hub reboot hopes

Regional airlines are struggling to ramp up flights to Hong Kong because of staff shortages at the airport, slowing the city's plan to recapture its travel hub status, industry insiders have told AFP.

Asian markets up on recovery hopes, yen sinks after BoJ decision

Asian markets mostly rose Wednesday following a mixed lead from Wall Street as traders fought to maintain the strong start to the year, while the yen sank after the Bank of Japan decided against further tweaking monetary policy.

Bank of Japan leaves policy unchanged, yen weakens

Japan's central bank left its ultra-easy monetary policy unchanged on Wednesday, a move that sent the yen plunging, despite heavy speculation it could again tweak a key lever.

Most Asian markets rise on recovery hopes

Asian markets mostly rose Wednesday following a mixed lead from Wall Street as traders fought to maintain the strong start to the year.

French-German ties under strain as they mark 60-year friendship

Russia's invasion of Ukraine and a changing world order are straining ties between France and Germany as they prepare to celebrate 60 years since a post-World War II treaty sealed their reconciliation.

Global stocks mixed on China data, drop in European gas prices

Global stocks were mixed Tuesday following data showing China's growth slowed sharply in 2022 as European gas prices hit another 16-month low on fading fears of a winter supply crunch.

United Airlines sees 2023 profit jump amid tight capacity

Eyeing another year of strong travel demand and limited airline industry capacity, United Airlines projected a big jump in 2023 profits Tuesday after releasing fourth-quarter earnings that topped expectations.

The world's oldest known person dies aged 118: spokesman to AFP

The world's oldest known person, French nun Lucile Randon, has died aged 118, a spokesman told AFP on Tuesday.

Hot Brit label Wales Bonner launches buzzy menswear week in Paris

One of the buzziest ever menswear fashion weeks launched in Paris on Tuesday, with young British designer Grace Wales Bonner showing why she is tipped for big things with her homage to the "black flaneur".

Pfizer to sell more drugs at cost to poor nations

US pharmaceutical giant Pfizer announced on Tuesday that it will greatly expand the number of medicines and vaccines it sells on a not-for-profit basis to the world's poorest countries.

International tourist arrivals doubled in 2022: UN

International tourist arrivals doubled in 2022 over the previous year, and should reach near pre-pandemic levels in 2023 thanks to the lifting of travel restrictions, especially in China, the UN's tourism body said Tuesday.

Greta Thunberg detained at German coal mine protest

Swedish climate activist Greta Thunberg was hauled away and detained on Tuesday during a protest near a German village being razed to make way for a coal mine expansion, police said.

Coin Press - Economy (English)