Coin Press - Economy

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Featured

Gabon votes on new constitution hailed by junta as 'turning point'

Gabon holds a referendum Saturday on a new constitution that the junta calls a "major turning point" after a coup that brought the curtain down on 55 years of rule by the Bongo dynasty.

Fitch upgrades Argentina debt rating amid economic pain

Credit ratings agency Fitch upgraded Argentina's sovereign debt rating to "CCC" from "CC" on Friday, citing improved ability to meet upcoming foreign debt payments and successful economic reforms under President Javier Milei.

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Russia ramps up ties with Sudan as Ukraine war rages

As much of the West seeks to isolate Russia after it invaded Ukraine, experts say Moscow is boosting relations with its longtime African ally Sudan, eyeing its gold wealth and strategic location.

Radioactive fuel, contaminated water: the Fukushima clean-up

Eleven years after a devastating tsunami hit Japan's northeast, thousands of workers at the Fukushima Daiichi nuclear plant are involved in the complex and decades-long process of decommissioning the site.

Four endangered American crocodiles are born in Peru

A Lima zoo announced Thursday the birth in captivity of four American crocodiles, an endangered species, after a successful artificial incubation.

Facebook eases rules to allow violent speech against 'Russian invaders'

Facebook said Thursday that due to the invasion of Ukraine it has temporarily eased its rules regarding violent speech to allow statements like "death to Russian invaders," but not credible threats against civilians.

IMF expects to cut global growth forecast due to Ukraine war

The IMF expects to cut its global growth estimate due to the economic damage caused by Russia's invasion of Ukraine, Managing Director Kristalina Georgieva said Thursday.

'Scourge to humanity': victims of opioid abuse address Sacklers

Survivors of opioid abuse and relatives of victims delivered emotional and stinging rebukes on Thursday to members of the Sackler family, owners of Purdue Pharma, accused of fueling the US addiction crisis.

Brazil's Petrobras hikes prices, ignoring Bolsonaro

Brazilian state-run oil company Petrobras announced hefty fuel price increases Thursday over the Ukraine crisis, setting up potential clashes with powerful truckers' groups and President Jair Bolsonaro, whose popularity has been hit by soaring inflation.

Elon Musk's partner Grimes reveals new baby daughter 'Y'

Billionaire entrepreneur Elon Musk and the musician Grimes have had a second child, a girl they named Exa Dark Sideræl Musk -- although the parents will mostly call her Y.

Stocks slip as Ukraine peace talks stall, economic outlook worsens

European and US stocks sank Thursday as key peace talks between Russia and Ukraine stalled, compounded by a rapidly worsening inflation and growth outlook.

Sealed with a kiss: Chile celebrates first same-sex weddings

Two same-sex couples became the first Thursday to legally tie the knot in Chile, which joined a handful of countries in majority Catholic Latin America to allow LGBTQ couples to marry.

Netflix pulls out big Hollywood guns for new production push

Netflix has enlisted an A-list roster of actors for a new slate of film and TV series this year, with several potential blockbusters on deck as the US giant battles to retain its lead in the fiercely competitive streaming market.

US consumer prices hit new 40-year high as Ukraine shock looms

US consumer prices hit a new 40-year high last month as the world's largest economy continued to be battered by a surge of inflation, which the fallout from Russia's invasion of Ukraine is expected to worsen.

War has destroyed $100 bn in Ukraine assets so far: official

The Russian invasion has so far destroyed about $100 billion in roads, bridges and businesses in Ukraine, dealing a huge hit to its economy, a Kyiv government official said Thursday.

ECB keeps 'all options open' as Ukraine war shakes eurozone

The European Central Bank on Thursday sped up its plans to wind down its bond-buying programme but gave itself time before raising interest rates, as the conflict in Ukraine clouded the outlook for the eurozone.

ECB buys itself time on rates as Ukraine war shakes eurozone

Parliament elects Hungary's first ever woman president

The Hungarian parliament Thursday elected Katalin Novak, a close ally of Prime Minister Viktor Orban, as the EU member's first ever woman president.

BMW overcomes chip crisis to post record result in 2021

German auto manufacturer BMW shook off the supply chain issues that plagued the industry in 2021 to post a record high net profit figure, the group said Thursday.

Credit Suisse reveals over $900 million exposure to Russia

Swiss banking giant Credit Suisse said Thursday that its exposure to Russia totalled over $900 million at the end of last year, with "minimal" links to individuals sanctioned over the Ukraine war.

From 'puppets' to players: Ukraine war reveals shift for US's Gulf allies

Russia's invasion of Ukraine has exposed a once unthinkable divergence between Washington and key Middle East allies Saudi Arabia and the UAE, the oil giants that are increasingly independent on the international stage.

Asian markets join global rally, oil rebounds from plunge

Asian equities rallied Thursday following a strong bounce on Wall Street and a breathtaking surge in Europe sparked by a plunge in oil prices and bargain-buying following a Ukraine-fuelled rout.

Bayer sells pest control unit for $2.6 bn

German chemicals and pharmaceuticals giant Bayer said Thursday it has agreed to sell its pest control unit to British private equity firm Cinven for $2.6 billion (2.4 billion euros).

Children of exile bring fresh vision to Chile cabinet

Six people exiled as children under Augusto Pinochet's dictatorship will now play a vital role in Chile's future as part of new president Gabriel Boric's cabinet.

Invasion of Ukraine threatens to scramble ECB's plans

Russia's invasion of Ukraine and spiralling energy prices have upended the economic outlook and left European Central Bank policymakers with the task of navigating the eurozone through a fresh crisis at their meeting on Thursday.

Asia stocks track US, European surge, oil extends losses

Asian equities rallied Thursday following a strong bounce on Wall Street and a breathtaking surge in Europe sparked by a plunge in oil prices and bargain-buying following a Ukraine-fuelled rout.

Thailand makes green push with floating hydro-solar power project

A vast array of solar panels floats on the shimmering waters of a reservoir in northeast Thailand, symbolising the kingdom's drive towards clean energy as it seeks carbon neutrality by 2050.

Chernobyl power cut, transmission lost at Europe's largest atomic plant: IAEA

Power has been cut to the Chernobyl nuclear plant, Ukraine said Wednesday, but the UN's atomic watchdog said there was "no critical impact on safety".

Joe Biden's perilous oil diplomacy

How far should Joe Biden go to limit soaring US gas prices? The US president has launched an oil diplomacy gambit to compensate for banning Russian petroleum, but he risks accusations of propping up authoritarian leaders and undermining his own battle for democracy.

Tinder lets users run background checks before dates

Dating app Tinder will give US users a way to check if potential dates have been convicted of a violent crime, a check that experts warn has limitations.

Heineken, Carlsberg and Universal Music join Russia exodus

Dutch brewer Heineken, Danish beer-maker Carlsberg, and Universal Music Group have become the latest Western firms to halt operations in Russia over Moscow's war in Ukraine.

Girls more likely to attribute failure to lack of talent: study

Across the world, girls are more likely than boys to blame academic failure on a lack of talent, according to a large study on gender stereotypes published Wednesday.

Financial aid for Ukraine critical to keep services working

As the crisis worsens in Ukraine, humanitarian and security aid is flowing into the country, but financial support to keep the government running also is critical.

Some Russians say 'good riddance' as McDonald's closes up shop

When the Soviet Union's first McDonald's opened on January 31, 1990, it drew huge crowds and became a powerful symbol of an isolated country opening up to the West.

New Facebook tools target misinformation in users' groups

Facebook on Wednesday began letting groups automatically reject posts identified as containing false information, taking aim at a part of the massive network that has drawn particular concern from misinformation watchdogs.

Israel, Turkey hail new era after years of broken ties

Israel and Turkey proclaimed a new era in relations on Wednesday following more than a decade of diplomatic rupture, as Israeli President Isaac Herzog made a landmark visit to Ankara.

Volunteers drop everything, cross borders, to help Ukraine refugees

For Simon Massey, a British freelance event coordinator, helping to manage the inflow of refugees from war-torn Ukraine to Poland is very similar to what he does at work, only on a larger scale.

Davos cold shoulders Russians over Ukraine war

The World Economic Forum said Wednesday it was freezing all relations with Russian entities, and would not allow anyone on the sanctions list to take part in the annual high-powered meeting in Davos.

Volkswagen reimagines classic camper for the electric age

Seventy years after its first model rolled off the factory line, Volkswagen is reinventing the VW bus, symbol of the hippy movement, for today's climate-conscious generation -- but some of its former afficionados remain to be convinced.

Sri Lanka restricts 'luxuries' as forex crisis worsens

Sri Lanka on Wednesday tightened restrictions on a wide range of imports from whisky to kitchen appliances as a foreign exchange shortage pushed the economy to the brink of collapse.

European stocks rebound sharply on bargain hunting

European equities surged Wednesday on bargain hunting, but analysts warned that the temporary bounce would not last due to fallout from Russia's invasion of Ukraine.

Coin Press - Economy (English)