Coin Press - Economy

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Featured

French PM vows more taxes and spending cuts ahead of budget fight

France's new Prime Minister Michel Barnier pledged new taxes and spending cuts Tuesday to reduce a "colossal" debt, in a policy address that met with a raucous reception from lawmakers who could topple his government at any time.

Germany inaugurates IBM's first European quantum data centre

Chancellor Olaf Scholz on Tuesday inaugurated US firm IBM's first quantum data centre in Europe, saying Germany aims to be at the forefront of the revolutionary technology.

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Decades on, 'France's George Floyd' gets screen treatment

The name resonates deeply among French minorities as a symbol of police violence, but it has taken 35 years for the death of Malik Oussekine to be recounted on-screen.

China's April exports slump to lowest in two years as virus bites

China's export growth slumped in April to its lowest level in almost two years, customs data showed Monday, as a Covid resurgence shuttered factories, sparked transport curbs and caused congestion at key ports.

Yazidis displaced anew by north Iraq violence

Iraqi policeman Jundi Khodr Kalo was among thousands of Yazidis again forced to flee their homes this month, after fierce clashes between the army and local fighters in their Sinjar heartland.

Asian stocks tumble on global anxieties over inflation

Asian stocks fell Monday as investors remained anxious over inflation and the ongoing impact of China's Covid lockdown policies, despite an initial Wall Street bounce thanks to a solid US jobs report.

Jetliner aborts landing in Mexico to avoid another plane

A jetliner attempting to land in Mexico City aborted its approach at the last second to avoid hitting a plane taxiing on the runway, an airline official said Sunday.

French court to probe deadly Yemenia Airways crash

A French court will open hearings Monday in the case of the 2009 crash of a Yemenia Airways flight that killed 152 people but miraculously left a 12-year-old girl alive.

Dozens feared dead in school bombing as G7 rallies behind Ukraine

Rescuers on Sunday scrambled to find dozens of civilians feared dead in a strike on a Ukrainian school as the G7 reaffirmed their unity with Kyiv on the eve of Russia's World War II victory celebrations.

G7 countries pledge to stop Russia oil imports

The G7 club of wealthy nations committed Sunday to phasing out its dependency on Russian oil and issued a scathing statement accusing President Vladimir Putin of bringing "shame" on Russia with his invasion of Ukraine.

'Critically stable': Ukraine's last stand for easternmost hub

The dozen jumpy and exhausted soldiers cowering under a bridge from incoming shellfire formed Ukraine's last line of defence against Russia's assault on this easternmost city still held by Kyiv.

Xi warms up China's economy, but virus narrows options

President Xi Jinping has offered state backing for tech, infrastructure and jobs to revive China's economy, but analysts warn growth will continue to wilt until Beijing drops its rigid virus controls.

C.Africa's leap into bitcoin leaves its people bemused

In the Central African Republic (CAR), nine out of 10 people do not have internet, and only one in seven has electricity -- that is, when there are no power cuts.

Blooming shame: Pandemic, Ukraine war hurts Thai orchid industry

Thailand's orchid growers, already weary after two years of being battered by the pandemic, are bracing for fresh blows to their livelihood as the war in Ukraine and changing weather patterns further cloud their futures.

US companies break long silence on abortion rights

After carefully avoiding the taboo topic for decades, more and more US companies are taking a stand on the right to abortion, a sign of a new generation with growing influence and very different expectations than their predecessors.

Facing soaring rents, some US tenants are fighting back

Before the start of each month, Anh-Thu Nguyen and her two roommates send rental checks to their landlord. A few days later, the checks are mailed back.

Nigerian airlines suspend flights over soaring fuel prices

Nigerian airlines are to suspend all flights from Monday over rising jet fuel prices, an umbrella organisation of operators said on Saturday.

Pensioners swarm cash vans under fire at Ukraine front

Postwoman Iryna Fedyanina's laughter drowns out the mortar fire ringing out as she hands out pensions to the frightened masses near a river splitting Ukrainian and Russian forces.

Government pressure forces Venezuelan media to self-censor

Football fans have become familiar with final calls being made by "VAR" -- video assistant referees -- but at one of Venezuela's biggest radio groups, it also controls what news gets aired.

Indonesia seizes tanker over palm oil export ban violation

The Indonesian Navy has seized a tanker that was carrying palm oil out of the country in violation of an export ban, a spokesman said Saturday.

Soy boon for Argentina as Ukraine war boosts prices

Russia's war on Ukraine has sent grain prices skyrocketing -- a worry for consumers worldwide but potentially a boon for producers like Argentina, which hopes an influx of soybean "agridollars" will boost its faltering economy.

Warhol Monroe portrait set to smash records at New York sales

An Andy Warhol portrait of Marilyn Monroe worth an estimated $200 million headlines this month's spring sales in New York that collectors say are among the most anticipated ever.

Global stocks mostly fall despite solid US jobs data

Global stocks mostly tumbled Friday to conclude a volatile week as investors fretted over inflation and worries about slowing growth despite a solid US jobs report.

At least 75 killed in recent Haiti gang battles: UN

Clashes between two rival gangs in the outskirts of the Haitian capital Port-au-Prince have claimed the lives of at least 75 people, including women and children, in less than two weeks, the UN said Friday.

Yogurt maker Lactalis betting on US appetite

French dairy giant Lactalis is betting big on North America, adapting to local preferences to attract consumers while it manages country-specific issues, such as the extreme volatility of US milk prices.

Facebook accused of blocking Australian health sites

A whistleblower group is accusing Facebook of deliberately blocking websites for Australian hospitals and emergency services as part of a negotiating tactic last year.

Crisis-hit Sri Lanka declares emergency after crippling strike

Sri Lanka's president Friday declared a state of emergency for the second time in five weeks, giving security forces sweeping powers amid a nationwide strike by angry demonstrators who blame him for an unprecedented economic crisis.

India, Pakistan must brace for even worse heatwaves

The devastating heatwave that gripped India and Pakistan over the last two months is unprecedented, but worse -- perhaps far worse -- is on the horizon as climate change continues apace, top climate scientists told AFP.

Solid job growth continues in recovering US economy

From bars to factories to warehouses, American businesses hired staff with vigor in April as the US economy recovers from the damage done by Covid-19 while grappling with inflation that has hit the highest rate in decades.

Tech vs telecoms: EU ignites debate on 'net neutrality'

Tech and streaming giants suck up vast amounts of bandwidth, so the EU this week revived a long-standing idea to make them pay the telecom firms who maintain the infrastructure.

Stocks selloff deepens, pound takes fresh tumble

A global stocks selloff over fears about the impact of interest rate hikes that seek to tackle sky-high inflation deepened on Friday.

Ukraine wheat harvest set to drop by third: satellite imagery

Ukraine's wheat production is likely to be down by at least a third from last year due to the Russian invasion, a data analysis firm that uses satellite imagery said Friday.

China troubles mar Adidas's first-quarter result

German sportswear giant Adidas reported a drop in its profits in the first quarter on Friday, as widespread coronavirus lockdowns hurt business in key market China.

India to reopen abandoned coal mines as heatwave hits supply

India plans to lease abandoned coal pits to private mining companies, a government official said Friday, in an effort to ramp up production as power outages exacerbate a sweltering heatwave.

'King of streets': Last skateboarder on Ukraine front

The baby-faced teenager in baggy shorts races his skateboard past the bombed burger joint and hit Peace Square just as air raid sirens rolled over the Ukrainian front.

Police tear-gas students as strike hits Sri Lanka

Police again fired tear gas and water cannon at students trying to storm Sri Lanka's parliament Friday as the country was brought to a halt by a trade union strike demanding the government step down.

Biden heads to Ohio to tout industrial renewal plan

US President Joe Biden will travel to political battleground state Ohio on Friday to announce the launch of a new industrial renewal plan that his administration hopes will revive the country's manufacturing sector.

National strike in Sri Lanka to demand govt step down

Sri Lanka's bus and train networks ground to a halt while offices and factories were empty Friday in a nationwide strike demanding the government's resignation over the island's worsening economic crisis.

US Women's Basketball season kicks off with key star held in Russia

Women's Basketball season kicks off in the United States on Friday without one of its brightest stars: Brittney Griner, who was arrested in Russia just before Moscow launched its war in Ukraine.

Police violence remains chronic struggle in Dominican Republic

An argument between a shopper and a store clerk at a mall in the Dominican Republic capital of Santo Domingo ended last month with police arresting customer David de los Santos.

China building collapse death toll rises to 53

Fifty-three people died in a building collapse in central China, authorities said Friday, announcing the end of the rescue mission in a disaster which has been blamed on illegal construction.

Coin Press - Economy (English)