Coin Press - Economy

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Featured

Markets swing after Wall St losses as traders weigh US rates outlook

Asian markets were mixed Monday following a sell-off on Wall Street as investors scale back their bets on Federal Reserve interest rate cuts owing to worries Donald Trump could reignite inflation.

Gabon early results show voters back new constitution

Gabon's military rulers announced their new constitution had been overwhelmingly approved in a referendum, according to provisional results it published Sunday, marking a new chapter for the oil-rich African nation.

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'Lead the future': youth challenge world leaders at UN

Fired up by their desire for change, Alaine, Maria, Emmanuel and Areej are speaking up for young people ahead of the UN's annual diplomatic bonanza in New York.

Goosebumps and stars as Paris Fashion Week kicks off

Hollywood stars braved the rain to open Paris Fashion Week at L'Oreal's giant outdoor show Monday as rumours swirl of musical chairs at the top of fabled French brands.

Boeing boosts pay offer in effort to end strike

Boeing proposed lifting hourly wages for striking workers by 30 percent on Monday, sweetening its initial offer in an effort to end a 10-day stoppage that shuttered Seattle-area plants.

Global markets inch higher on hopes of further rate cuts

US and European shares nudged higher Monday as momentum from last week was restrained by weaker eurozone economic data.

Amazon forest has lost an area the size of Germany and France

The world's biggest rainforest, the Amazon, has lost an area about the size of Germany and France combined to deforestation in four decades, a study showed Monday.

Telegram's Durov announces new crackdown on illegal content

Telegram founder and chief executive Pavel Durov said Monday that the messaging platform had removed more "problematic content", weeks after his arrest in France on charges of failing to act against criminals using the app.

Berlin warns UniCredit against Commerzbank takeover attempt

German Chancellor Olaf Scholz issued a sharp warning to UniCredit to refrain from "unfriendly" acts Monday after the Italian bank revealed it had significantly increased its stake in Germany's Commerzbank.

Trial opens in Italy student murder case that opened eyes to femicide

A major femicide trial opened in Italy Monday, after the brutal murder of a university student by her ex-boyfriend that triggered outrage and national soul-searching over the roots of male violence against women.

Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff

Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand.

Stock markets inch higher on rate hopes

US and European shares nudged higher Monday as investors were torn between hopes of further interest rate cuts and weak eurozone economic data.

UniCredit ups stake in Commerzbank to 21 percent

Italian lender UniCredit said on Monday it has increased its stake in Commerzbank to around 21 percent, fuelling speculation that it could seek a takeover of its German rival.

Big rate cut was 'appropriate' first step: Fed official

The US Federal Reserve's decision to cut interest rates by half a percentage-point was "an appropriate and necessary first step," given progress on reducing inflation, a senior bank official said Monday.

Stock markets diverge as eurozone economy struggles

European and Asian stock markets diverged Monday as investors digested weak eurozone economic data and an interest rate cut by China's central bank.

UK's Labour pledges economic rebuild amid free gifts row

Britain's governing Labour party on Monday sought to strike a more upbeat note about the country's economic future against a furious backlash at proposed cuts to welfare payments and a row over top ministers receiving gifts.

UK's Labour looks to be more cheerful despite gifts and welfare row

Britain's governing Labour party on Monday sought to strike a more upbeat note about the country's future but against a furious backlash from unions at proposed cuts to welfare payments and a row over top ministers receiving gifts.

Eurozone business activity slumps after Olympics boost

Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday.

EU launches WTO challenge against China dairy probe

The EU on Monday launched a WTO challenge against a Chinese anti-subsidy investigation into imports of European dairy product, in the latest move in a trade spat between Beijing and Brussels.

Murdoch's REA ups offer for property website Rightmove

REA Group, the Australian online property website majority-owned by Rupert Murdoch's News Corp empire, said Monday it has made a third multi-billion-pound offer to buy British peer Rightmove.

Asian stocks boosted by US rate cut, China stimulus hope

Most Asian markets rose Monday, building on last week's rally following the Federal Reserve's bumper interest rate cut, while sentiment was also boosted by hopes for fresh measures to kickstart China's economy.

Asian markets extend gains as focus turns to US inflation

Most Asian markets rose Monday, building on last week's rally following the Federal Reserve's bumper interest rate cut, with focus now on the release of the bank's favoured inflation gauge later in the week.

'Convergence' growing on global plastics treaty: UN environment chief

The UN environment chief said Sunday she was beginning to see convergence on the world's first binding treaty on plastic pollution despite differences on production caps and a tax-like plastic fee.

Audiences summon 'Beetlejuice' to top of N. America box office for third week

"Beetlejuice Beetlejuice," the dark comedy about a ghoulish spirit summoned when his name is called three times, has landed its third week at the top of the North American box office, industry watchers said Sunday.

UN adopts pact to tackle volatile future for mankind

UN members adopted a blueprint for the future Sunday to tackle the myriad wars, environmental threats and technological challenges facing humanity that was hailed by the organization as "groundbreaking" but panned by critics as unambitious.

Musk's X platform takes first step toward lifting Brazil ban

Social media platform X has named a legal representative in Brazil -- a first step toward being able to resume service in the country -- but its suspension will continue until it meets further requirements, a judge has ruled.

Heavy fire over Israel-Lebanon border after deadly Beirut strike

Israel pounded southern Lebanon Saturday, raising fears of all-out war a day after an Israeli strike on Beirut left senior Hezbollah commanders among the 37 people Lebanese officials said were killed.

Polls close in first Sri Lanka election since economic collapse

Cash-strapped Sri Lanka voted for its next president Saturday in an effective referendum on an unpopular International Monetary Fund austerity plan enacted after the island nation's unprecedented financial crisis.

Hezbollah in disarray after Israeli air strike kills top commanders

Hezbollah said Saturday that a second senior commander was among 16 fighters killed in an Israeli air strike on its Beirut stronghold the previous day, highlighting the scale of the blow to its military leadership.

The BYD Seal Hybrid U DM-i AWD in a practical test by journalists

With the BYD Seal Hybrid U DM-i AWD, the Chinese car brand BYD is bringing a new competitor to the European hybrid SUV market. The manufacturer BYD has obviously realised very quickly that the enthusiasm for electric cars in Europe has its limits and that our range anxiety is deeply rooted, with Germany's Minister of Economic Affairs Robert Habeck recently announcing new tax benefits for electric cars and saying: "... we are currently preparing further tax relief for electric cars as part of the growth initiative". Despite everything, BYD is following up the all-electric version of the VW ID.4 competitor as the DM-i with its first plug-in hybrid, the BYD Seal Hybrid U DM-i in the all-wheel drive version, as the "AWD".

Ethiopians struggle with bitter pill of currency reform

In a small fashion store in Ethiopia's capital, Medanit Woldegebriel's dresses have almost doubled in price in the past two months, sending customers fleeing.

Sri Lanka votes in first poll since economic collapse

Cash-strapped Sri Lanka began voting for its next president Saturday in an effective referendum on an unpopular International Monetary Fund austerity plan enacted after the island nation's unprecedented financial crisis.

Boeing CEO says ending strike 'a top priority'

Ending a strike involving more than 30,000 of Boeing's Seattle-area workers is "a top priority" for the aviation giant, chief executive Kelly Ortberg said in a message to staff Friday.

Top Hezbollah commander killed in Israeli strike on Beirut

Israel announced it had killed the commander of Hezbollah's elite unit in a strike Friday that Lebanese officials said left 12 dead and dozens wounded in the movement's Beirut stronghold.

Coin Press - Economy (English)