Coin Press - Economy

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Featured

Hundreds of people protest ahead of Swiss Davos meeting

Some 300 people including two millionaires protested in Davos Sunday ahead of next week's gathering of the global elite at the World Economic Forum (WEF) in the Swiss Alps.

Sacklers, Purdue to pay $7.4 bn over opioid crisis

Several US states have reached a $7.4 billion settlement with the Sackler family and their pharmaceutical company Purdue over the opioid crisis that has ravaged the lives of millions of Americans, officials said Thursday.

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Eurozone economy rebounded in 2021 after Covid crash

The eurozone economy posted robust growth last year, official data showed Monday, but fallout from the Omicron variant and an energy crunch have raised doubts about the bloc's ability to sustain the pace.

India forecasts world-beating growth on Covid recovery

India expects to lead the world in economic growth this year in a post-pandemic bounceback, government forecasts showed Monday, but with expansion slowing despite widespread vaccine coverage and recovering exports.

European stocks rebound, oil higher in major trading week

Europe's main stock markets recovered Monday following gains in Asia and a pre-weekend rally on Wall Street, as traders look ahead to key policy decisions by OPEC and central banks as well as US jobs data.

Japanese publishers to sue US firm over manga piracy

Four major Japanese manga publishers said Monday they will sue a US company accused of hosting servers for a piracy site, in the latest offensive against illegal copies of their graphic novels.

Ryanair slashes losses but Omicron hit winter bookings

Ryanair slashed losses in the final quarter of 2021 but the emergence of the Omicron variant cut into the normally busy winter holiday travel season, the no-frills airline said Monday.

Ukraine crisis adds to inflation jitters as ECB meets

Soaring inflation will be in focus when European Central Bank governors meet on Thursday, as the threat of war in Ukraine risked further fuelling already sky-high energy prices in the region.

Ukraine tensions jumble up Germany's energy puzzle

Rising tensions with Moscow over Ukraine have exposed Germany's problematic dependence on Russian gas, inflaming an already heated debate over soaring energy prices.

Top oil producers to meet amid record crude prices

The world's top oil-producing countries will meet on Wednesday to discuss a further increase in output, while crude prices have reached seven-year highs rattled by geopolitical tensions.

Game of stones: Scottish island sweeps up Olympic curling

In a factory outside Ayr in southwest Scotland, James Wyllie carefully lifts and caresses a curling stone, as well-used drilling and polishing machines grind in the background.

Second Macau junket boss arrested as crackdown expands

The head of Macau's second largest junket group has been arrested by the city's police, as authorities tighten the leash on the gambling hub's multi-billion-dollar industry.

Most Asian markets rise in thinned trade after Wall St rally

Most Asian markets rose Monday after a late afternoon rally on Wall Street capped a volatile week for global equities, though traders remained nervous about the Federal Reserve's plan to hike interest rates as it battles surging inflation.

Weekend-long Canada anti-vax protest riles Ottawa

A "Freedom Convoy" of trucks joined by thousands of demonstrators brought Ottawa to a virtual standstill for a second day Sunday to protest Canada's vaccine mandates, as other sympathetic truckers blocked a border highway into the United States.

Foreign journalists in China facing 'unprecedented' pressure: media group

Threats of legal action, online troll campaigns and dwindling numbers after the expulsion of colleagues -- foreign journalists in China are facing "unprecedented hurdles" from efforts to discredit independent reporting, a press group said Monday.

Canada anti-vax protest continues as vandals spark anger

Truckers and thousands of sympathizers blocked Ottawa streets for a second day Sunday to protest Canada's vaccine mandates, as reports of vandalism and harassment by some demonstrators sent tempers flaring.

Portugal's Socialists win election marked by far right gains: exit polls

Portugal's ruling Socialists won Sunday's early election by a wide margin but may still fall short of an outright majority while the far right made huge gains, exit polls showed.

US, UK ramp up sanctions pressure on Russia over Ukraine

The United States and Britain on Sunday flagged new and "devastating" economic sanctions against Russia, as Washington and its NATO allies step up efforts to deter any invasion of Ukraine.

China factory activity edges down in January amid Covid outbreaks

Factory activity in China edged down in January, official figures showed Sunday, but slightly exceeded expectations as businesses struggled with sporadic disruptions due to coronavirus outbreaks.

Start ups bringing Pakistan's farming into digital age

Agriculture entrepreneurs are bringing the digital age to Pakistan's farmers, helping them plan crops better and distribute their produce when the time is right.

Bottom of gender rankings, Iraqi women defy critics to work

Each working morning, oil engineer Safa al-Saeedi dons a safety helmet and heads into a gas complex for another day challenging conservative prejudices by being a professional woman in Iraq.

Miami's lure during Covid sends housing prices through the roof

Miami resident Maria Ruby learned last month that her rent will shoot up 65 percent in February. She cannot afford it and does not know where to go.

A Ukrainian mother vows to take up gun if Russia invades

Standing in the dining room of her Kyiv flat, mother-of-three Mariana Zhaglo pulls her long rifle out of its khaki case.

UK assisted dying bill hopes to end 'inhumane' suicides

Molly Meacher's voice quivers with emotion as she tells how her aunt took her own life after her liver cancer tumour grew to the size of a football.

Qatar looks to profit from Europe gas fears over Ukraine

Europe's fears of losing Russian gas supplies in the Ukraine crisis will loom large when Qatar's emir meets the US president on Monday but the powerful Gulf ruler has no "magic wand", analysts say.

Amazon accused of anti-union tactics in New York

US labor authorities have filed a complaint accusing e-commerce giant Amazon of using threats and surveillance against its workers trying to organize a union at a New York City warehouse.

At collapsed bridge, Biden envisions rebuilding America

A bridge collapse Friday in Pittsburgh provided a symbolic backdrop for President Joe Biden's trip to the city to tout his $1 trillion infrastructure plan -- and try rebuilding his own crumbling approval ratings.

Russia loses a million people in historic population fall

Russia's population declined by more than one million people in 2021, the statistics agency Rosstat reported Friday, a historic drop not seen since the collapse of the Soviet Union.

US regulator points to progress in allowing 5G at more airports

US aviation officials reported progress Friday on allowing more 5G service near airports following negotiations with telecommunications providers, but airlines said there were still some disruptions.

Wall Street rebounds, European stocks slump at end of volatile week

European stock markets ended a volatile week in the red of Friday, as investors weighed expectations of economic recovery against soaring inflation, rising interest rates and mixed earnings.

Bridge collapses in Pittsburgh just before Biden speech

US inflation slowed in December, spending fell: govt

In the final month of 2021, Americans dialed back their spending even as incomes rose thanks to wage increases, while inflation showed signs of moderating, government data released Friday said.

Argentina president announces new debt deal with IMF

Argentine President Alberto Fernandez unveiled what he called a "reasonable" new debt repayment deal with the International Monetary Fund on Friday, the day a $700-million repayment was due.

Caterpillar reports profit jump but warns of supply chain headwinds

Caterpillar reported a jump in fourth-quarter earnings Friday on surging demand for industrial equipment, but warned that supply chain problems will probably continue to weigh on results in 2022.

Italy speeds up presidential vote but deadlock persists

Italy on Friday sought to accelerate the process of electing a new president after days of deadlock that has paralysed Prime Minister Mario Draghi's government, but parliament remained bitterly divided.

Rwanda to reopen Uganda border in boost to ties

Rwanda said Friday it would reopen its land border with Uganda next week after a three-year closure, a major breakthrough in repairing relations between the neighbours.

IMF warns China's property stress poses spillover risk

A funding crisis battering China's big property developers could start to shake the wider economy and global markets, the IMF warned on Friday, saying deeper reforms were needed to fully curb the threat.

Left out in the cold by Spain's soaring energy prices

In her flat on the outskirts of Madrid, Pamela Ponce no longer turns on the heating despite the biting chill coming in through the windows.

Google to invest $1 bn in India's number two mobile operator

Google will invest up to $1 billion in India's second-largest mobile operator, Airtel, the companies said Friday, as the Android-maker looks to bolster its presence in the vast nation's booming telecoms market.

Toyota keeps top-selling automaker title despite chip crunch

Toyota retained its crown as the world's top-selling automaker on Friday, having overcome a chip shortage and supply chain woes to beat Volkswagen for a second straight year.

Philippines to re-open to vaccinated foreign tourists

The Philippines will re-open to fully vaccinated tourists from most countries on February 10 and lift quarantine requirements, officials said Friday, nearly two years after closing its borders to contain the coronavirus.

Coin Press - Economy (English)