Coin Press - Economy

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Stocks, dollar hesitant as traders brace for Nvidia earnings

Global markets were mixed on Monday as traders largely treaded water after a busy period that saw a post-election "explosion" in enthusiasm in the United States, followed by a pullback last week.

Biden in 'historic' pledge for poor nations ahead of Trump return

US President Joe Biden announced a "historic" $4 billion pledge for a World Bank fund that helps the world's poorest countries, the White House said Monday, before Donald Trump takes office with a new cost-cutting agenda.

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Tech stocks tumble on new Nvidia weakness

Tech firms led equity markets lower Wednesday as chip titan Nvidia lost further ground while disappointing data on US trade also hit sentiment.

US trade deficit widest in two years on imports surge

The US trade deficit in July expanded to its largest since mid-2022, according to government data released Wednesday, as imports rose more quickly than exports.

Greenland court extends detention of anti-whaling activist Watson

A Greenland court decided Wednesday to hold US-Canadian anti-whaling activist Paul Watson an additional 28 days pending a decision on his extradition to Japan, an anti-whaling group said.

Grenfell inferno 'culmination of decades of failure': UK inquiry

The UK's Grenfell Tower fire disaster that killed 72 people was the result of "decades of failure" by government and construction industry bodies and the "systematic dishonesty" of building material firms, a damning final report said on Wednesday.

German car sales plunge in August as EV slump worsens

Sales of new cars plummeted in Germany in August, official data showed Wednesday, dragged down by a record fall in demand for electric vehicles in Europe's biggest auto market.

'Digital pause': France pilots school mobile phone ban

Tens of thousands of pupils in France are going through a slightly different return to school this autumn, deprived of their mobile phones.

Markets plunge with Wall Street after Nvidia rout, weak US data

Tech firms led a plunge across equity markets Wednesday after a rout on Wall Street fuelled by a collapse in chip titan Nvidia and disappointing data on US factory activity that revived recession fears.

Asian markets plunge with Wall St after Nvidia rout, weak US data

Tech firms led a plunge across Asian markets Wednesday after a rout on Wall Street fuelled by a collapse in chip titan Nvidia and disappointing data on US factory activity that revived recession fears.

Coal generates less than 50% of Australian electricity for first time

Coal generated less than 50 percent of Australia's electricity in the last week of August, dropping to a record low as renewable production surged, data showed Wednesday.

Macho MAGA? Trump locks in America's hyper-masculine vote

He lauds strongmen autocrats, hangs with martial arts stars, and has no greater compliment than calling someone a "fighter." Donald Trump is going all out for the macho vote in November's election -- and it's working.

Final inquiry report due into deadly UK tower block inferno

The inquiry into the Grenfell Tower disaster that killed 72 people in Britain's worst residential fire since World War II will on Wednesday publish its long-awaited final report.

Under US pressure, Mexico probes loggerhead sea turtle deaths

Scientists in Mexico are investigating the deaths of hundreds of loggerhead sea turtles in recent years, a species considered at risk of extinction in the wild, according to officials.

Twelve migrants die trying to cross Channel to UK

At least 12 migrants died off the northern French coast on Tuesday trying to cross the Channel to England in the deadliest such disaster this year, the French government said, as a major rescue operation was underway.

Oil prices, stocks retreat as China weighs on sentiment

Oil prices slumped more than three percent and stock markets retreated Tuesday as China's struggling economy weighed on sentiment.

Vegan Nutella to hit European shelves

Food giant Ferrero on Tuesday announced the imminent launch of a vegan version of its popular hazelnut spread Nutella in Italy, France and Belgium, saying the move was in response to changing consumer tastes.

Stock markets, oil prices retreat as China weighs

Stock markets and oil prices retreated Tuesday, weighed down by China's struggling economy according to analysts.

Cathay says 15 Airbus planes need new engine parts after fleet-wide inspections

Hong Kong carrier Cathay Pacific said Tuesday that 15 of its Airbus A350 jets needed new engine parts after inspecting its entire fleet, which was grounded following a "first of its type" engine component failure.

Sunken village emerges as Greek drought bites

Record-breaking temperatures and prolonged drought in Greece have exposed a sunken village in Athens' main reservoir for the first time in 30 years.

China to launch anti-dumping probes into Canadian canola, chemicals

China said Tuesday it would launch an anti-dumping probe into Canadian canola and chemical products, in apparent retaliation for Ottawa's new restrictions on imports of Chinese electric vehicles (EVs).

Cathay inspects A350 fleet after engine component failure

Hong Kong carrier Cathay Pacific has temporarily grounded its fleet of A350 aircraft for inspections after a "first of its type" engine component failure forced a flight to Zurich to turn back on Monday.

Asian markets drift ahead of key US figures, eyes on China

Asian markets stuttered Tuesday as investors steel themselves for a high-stakes US jobs report at the end of the week while keeping tabs on China after fresh data stoked renewed worries over the world's number two economy.

Ex-Volkswagen CEO faces trial over 'dieselgate'

Former Volkswagen CEO Martin Winterkorn is set to go on trial Tuesday for his role in the "dieselgate" scandal, nine years after the saga first plunged the German auto titan into crisis.

India's 'Mollywood' cinema rocked by MeToo abuse claims

Terrified for her safety, Indian actress Sreelekha Mitra remembers pushing chairs and a sofa against her hotel door after she said an award-winning veteran director sexually harassed her.

Seeking re-election, Algeria's Tebboune touts gains

Abdelmadjid Tebboune, who assumed Algeria's presidency during mass pro-democracy protests, is touting his achievements as he seeks another term. Yet, five years after the movement faded, some say real change remains elusive.

Stock markets wobble on China woes

Data showing weak Chinese economic performance hit stock market trading on Monday, offsetting optimism over an expected US interest-rate cut.

Volkswagen mulls plant closures and job cuts in Germany

German automotive giant Volkswagen said Monday it could take the unprecedented move to close production sites in Germany and threatened further job cuts as its savings plans stalled.

State oil company’s 'financial strain' compounds Nigeria’s fuel shortage

Weeks of fuel scarcities in Nigeria are compounding a cost-of-living crisis, with the state-run oil company acknowledging "financial strain" was hampering supplies.

Volkswagen says considering factory closures in Germany

German automotive giant Volkswagen said Monday it could close production sites in Germany, as the auto industry struggles to manage rising costs.

Stock markets mostly fall on China woes

Major stock markets mostly fell Monday as more weak Chinese economic data offset optimism over an expected US interest-rate cut.

No TV or screens for toddlers, Sweden tells parents

Toddlers should not be allowed to watch screens at all, Sweden told parents on Monday.

NGO reports 'human rights disaster' at Uganda oil project

A massive oil project in Uganda co-owned by French group TotalEnergies and China's CNOOC is mired in reports of sexual violence, forced evictions and environmental damage, climate activists said Monday.

Mexico's Lopez Obrador gives final report as opponents, US fret

Mexico's President Andres Manuel Lopez Obrador on Sunday presented the final report of his government, defending his legacy a month before turning power over to his successor -- along with a congressional supermajority and a highly controversial judicial reform plan.

Coin Press - Economy (English)