Coin Press - Economy

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US Fed Chair sees 'further disinflation' in economy

The United States is set to see inflation cool further towards policymakers' target, Federal Reserve chair Jerome Powell said Monday, with interest rates likely to come down over time, too.

Epic Games sues Google and Samsung over app store

"Fortnite"-maker Epic Games is suing tech giants Google and Samsung, it announced Monday, accusing them of illegally colluding to block competition on Samsung devices.

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Florida governor calls to end Disney's self-governing status at theme park

Florida governor Ron DeSantis asked the US state's congress Tuesday to vote to eliminate a statute that allows entertainment giant Disney to act as a local government in Orlando, where it has its theme park.

Oil prices dive on weaker IMF growth forecast as US stocks rally

Oil prices plunged by more than five percent Tuesday on worries that slowing growth will dent petroleum demand, while US stocks enjoyed a solid rally following a series of weak sessions.

Shutdown of Libya oil sites spreads to second terminal

Libya's National Oil Corporation announced Tuesday the closure of a second export terminal, paralysing the vital energy sector in a North African country gripped by political crisis.

Oil prices plunge after IMF cuts global growth forecast

Oil prices plunged by more than five percent Tuesday as investors worried about a drop in demand after the International Monetary Fund cut its global growth forecast.

Fragmentation poses 'serious risk' to global prosperity: IMF

The threat of deglobalization that splits countries into divided blocs could undermine decades of gains in living standards and growth, an IMF official warned Tuesday.

IMF slashes global growth forecasts amid Ukraine war

The "seismic" impact of the war in Ukraine is spreading worldwide, causing the IMF on Tuesday to sharply downgrade its 2022 global growth forecast to 3.6 percent.

European stocks fall as impact of Ukraine war spreads

European stock markets mostly fell Tuesday, as the impact of the Ukraine war spreads with the IMF slashing its global growth forecasts.

New 'phase' of Ukraine war as Russia attacks east

Moscow launched dozens of air strikes across eastern Ukraine overnight, its defence ministry said Tuesday, with Russia's top diplomat acknowledging "another phase" of the conflict was beginning as fighting raged in the Donbas region.

First killing by police in Sri Lanka protests

Sri Lanka police shot dead one man and wounded 10 others on Tuesday in the first fatal clash with demonstrators protesting the island nation's crippling economic crisis.

European stocks slide on return from Easter break

European stock markets slid Tuesday, catching up with losses in Asia and on Wall Street caused by slow growth concerns in China and rising US interest rates.

Japan fast-food chain fires official over sexist comments

One of Japan's most popular fast-food firms said on Tuesday that it had fired a top executive who reportedly suggested a marketing strategy of getting "virgins addicted" to the company's products.

Guitar that broke Oasis up for auction in Paris

A guitar, the smashing of which triggered the break-up of Oasis stars Liam and Noel Gallagher, goes under the hammer in Paris next month alongside other rock memorabilia.

Asia markets cautious over China growth news

Asian stocks were digesting growth concerns in China and rising interest rates in the United States on Tuesday with Hong Kong dropping sharply while Japan edged higher on the back of a plummeting yen.

Asia markets react to China growth news

Asian stocks were digesting news about growth concerns in China and rising interest rates in the United States on Tuesday with Japan edging marginally higher, but Hong Kong falling sharply in early trade.

Colombia's leftist Petro signs oath against expropriation

Ex-guerrilla Gustavo Petro, who leads in opinion polls ahead of Colombian elections next month, signed an oath Tuesday not to expropriate property if he becomes the country's first-ever leftist president.

Asian markets slide on growth fears, US stocks end volatile day lower

Asian stocks closed lower on Monday as Chinese officials offered a cautious outlook despite better-than-expected growth data, while US stocks edged lower amid worries over higher interest rates.

Ronaldo announces death of baby son

Cristiano Ronaldo and his partner Georgina Rodriguez announced on Monday that their newborn baby son has died.

Workers at New York Apple store launch union campaign

Workers at Apple's Grand Central Station store announced Monday they are organizing to establish a union, in what would be a first at one of the tech giant's retail locations in the United States.

Asian markets slide on inflation, Covid fears

Asian stocks closed lower on Monday in cautious trade, as figures showed China's economic growth accelerated in the first quarter of the year, but the government warned of "significant challenges" ahead.

Mexican lawmakers reject power reforms opposed by US

Mexican lawmakers on Sunday rejected constitutional electricity reforms at the center of diplomatic tensions with the United States, in a blow to President Andres Manuel Lopez Obrador.

China economy accelerates in Q1 but virus stalks outlook

China's economic growth accelerated in the first quarter of the year to 4.8 percent, official data showed Monday, but the government warned of "significant challenges" ahead while massive Covid-19 lockdowns started to bite.

Sri Lanka fuel prices up ahead of IMF talks

A key fuel retailer in Sri Lanka raised prices by up to 35 percent on Monday as the cash-strapped government was set to open crucial bailout talks with the International Monetary Fund.

Asian markets slide, China growth behind target

Asian stocks opened lower on Monday in cautious trade, as China posted higher-than-expected economic growth but officials still warned of "significant challenges ahead".

UK archbishop raises 'ethical questions' on Rwanda migrants plan

The Church of England's most senior cleric, Justin Welby, on Sunday criticised the British government's plans to send asylum-seekers to Rwanda to process their claims.

'Fantastic Beasts' tops N.America box office

"Fantastic Beasts: The Secrets of Dumbledore" had a slightly less than fantastic North American opening this weekend, at least by Wizarding World standards, taking in an estimated $43 million, industry watcher Exhibitor Relations reported Sunday.

Divers find 'no leaks' from fuel-laden ship sunk off Tunisia

Divers who inspected the hull of a tanker loaded with 750 tonnes of fuel that sank off southeast Tunisia detected no leaks on Sunday, officials said.

Shock on the streets as Kharkiv wracked by fresh blasts

Swaying stunned in the street, Svitlana Pelelygina surveys the wreck of her apartment building smouldering from the latest salvo of blasts to rain down on Ukraine's second city of Kharkiv.

Tunisian weavers turn rags into eco-friendly rugs

Najet unravels an old pair of jeans, raw material for a designer carpet: traditional, eco-friendly crafts are being adapted for new markets thanks to a project born in the Tunisian desert.

The male model testing gender norms in a changing Saudi Arabia

With his hot pink hair extensions and leopard print pantsuit, model Ziad al-Mesfer was bound to turn heads during his recent public photo shoot in deeply conservative Saudi Arabia.

US judge deemed controversial Musk tweet on Tesla 'false': investors

A 2018 tweet posted by Elon Musk in which he claimed to have secured the funding to take Tesla private was deemed "false and misleading" by a judge, according to documents filed by investors suing his electric car company.

Young conservatives target 'wokeism' on US campuses

Back in high school, Jack used to be picked on for his politics. Now, as a college student, he is banding together with like-minded conservatives to fight back against what they see as the tyranny of "wokeism."

Volunteer kitchen gutted by strike on east Ukraine city

In the aftermath of Saturday's strike on Ukraine's second city of Kharkiv the scent of yeast hangs in the air.

Climate activists disrupt traffic in London, Paris

Several hundred activists from the Extinction Rebellion activist group on Saturday blocked major roads in central Paris and London, disrupting traffic to protest "inaction" on climate change from world leaders.

Crisis-hit Sri Lanka halts share trading as protests spiral

Sri Lanka on Saturday announced a five-day share trading halt after the crisis-hit country hiked interest rates and declared a default on its external debt during the traditional New Year holiday, as trade unions and top cricket stars joined protests demanding the president's resignation.

Sri Lanka declares 5-day share trading halt over crisis

The Colombo Stock Exchange on Saturday announced a five-day trading halt after crisis-hit Sri Lanka hiked interest rates and declared a default on its external debt during the traditional New Year holiday.

China's 'space dream': A Long March to the Moon and beyond

The return to Earth of three astronauts on Saturday after six months at China's new space station marks a landmark step in the country's space ambitions, ending its longest crewed mission ever.

China's economic growth under threat as virus takes hold

The mounting cost of China's zero-Covid policy threatens to derail Beijing's ambitious GDP target, analysts say, as supply chains snarl, ports face delays and Shanghai remains mired in lockdown.

Three months after oil spill, Peru fishermen remain without work

Three months after an oil spill that polluted beaches and killed wildlife in Peru, hundreds of fishermen remain out of work as Easter approaches.

Twitter adopts 'poison pill' defense against Musk buyout bid

Twitter moved Friday to defend itself against Elon Musk's $43 billion hostile takeover bid, announcing a plan that would allow shareholders to purchase additional stock.

Coin Press - Economy (English)