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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Reserve Bank chief will be Chile's new finance minister

Chile's leftist president-elect Gabriel Boric, whose victory at the polls last month unsettled the markets, on Friday named the country's Central Bank governor as his finance minister in a young, diverse and woman-majority cabinet.

Dior designer Kim Jones: 'We live in a bubble'

Kim Jones may be borrowing from Dior's most iconic female looks for his latest menswear collection but that doesn't mean he believes gender boundaries are ready to disappear yet.

UK retail sales suffer record drop on Omicron fears

British retail sales suffered a record drop in December as consumers shunned the high street due to Omicron concerns, having snapped up Christmas purchases the previous month, data showed Friday.

From nightmares to PTSD: Covid stokes UK health care staff crisis

Long shifts working in intensive care and the risk of catching Covid and passing it on to his wife and children left Joan Pons Laplana exhausted.

Airbus cancels Qatar Airways plane order in feud

Airbus has taken the extraordinary step of cancelling a multi-billion-dollar order of 50 planes from Qatar Airways, a major customer, in an escalating feud over the airline's grounding of A350 aircraft.

Samsung pulls Singapore drag queen ad after backlash

South Korean tech giant Samsung has pulled an online advert in Singapore that featured a hijab-wearing Muslim woman hugging her drag queen son after it sparked a backlash from socially conservative corners.

Five do battle for top UN labour job

Five candidates are battling to take over the United Nations' International Labour Organization, winding up two days of hearings on Friday that set out contrasting visions for the ILO's future.

In Texas, driverless trucks are set to take over roads

A giant 18-wheel transport truck is barreling down a multi-lane Texas highway, and there is no one behind the wheel.

Jury selected in US trial of officers involved in Floyd arrest

Former Minneapolis policeman Derek Chauvin is serving 22 years in prison for the murder of George Floyd, a 46-year-old African-American.

Partner of Chile's president-elect draws feminist ire over first lady role

Irina Karamanos, an avowed feminist and partner of Chile's leftist president-elect Gabriel Boric, has drawn fire from women's groups for her decision to accept the "anachronistic" role of first lady.

Quiet car: England to ban loudspeaker 'spam' on trains

UK transport chiefs on Friday said that bothersome on-board train announcements would be cut in a bid to offer more peaceful journeys, a move it dubbed a "bonfire of the banalities".

Adding peanuts to young children's diet can help avoid allergy: study

Including peanuts in children's diets early in life could help stave off allergies against the legume, which can be fatal and affect swathes of youngsters globally, according to a new study Friday.

US airlines hopeful for post-Omicron 2022 after Q4 losses

Major US carriers stumbled through another money-losing quarter at the end of the 2021 but remain confident of a travel recovery later in 2022, based in part on hopes that Covid-19 will soon evolve into an ordinary and seasonal virus.

Amazon to open Los Angeles clothing store, in first

Amazon's online commerce empire is taking another step into the real world with plans announced Thursday to open a shop in Los Angeles that would be its first bricks-and-mortar clothing store.

US lawmakers advance Big Tech competition bill

A US Senate panel endorsed legislation Thursday that would block tech giants from prioritizing their products over those of smaller rivals, a potentially major reform that will face a tough fight in Congress.

Fed says central bank digital dollar could offer benefits

An official US digital currency could offer potential benefits to American consumers and businesses, but it is not clear they would outweigh the potential risks, the Federal Reserve said Thursday.

Tears for Virgil Abloh at posthumous Paris show

There were tears on the catwalk on Thursday as the final Louis Vuitton show by US designer Virgil Abloh, whose death shocked the industry last year, drew rapturous applause at Paris Fashion Week.

Teen pilot completes round-the-world feat

Beaming and waving her arms in the air, teenage pilot Zara Rutherford was euphoric Thursday after completing a solo, round-the-world flying odyssey with the dream of getting into the record books.

US existing home sales end banner year with slump

The US real estate market last year saw the most existing homes sold in 15 years, even as sales slumped in the final month of 2021, according to industry data released Thursday.

Russia's central bank calls for crypto crackdown

The Russian central bank proposed Thursday cracking down on cryptocurrencies, a move which if adopted could disrupt the burgeoning virtual money sector as Russia is one of the largest crypto-mining nations in the world.

American Airlines suffers loss as Omicron clouds outlook

American Airlines reported another quarterly loss Thursday after the latest Covid-19 surge dented demand at the end of the year, but said consumers were booking more trips for the spring.

Da Vinci should grace new euro notes, says Lagarde

European Central Bank chief Christine Lagarde suggested Thursday that Renaissance master Leonardo da Vinci and pioneering French politician Simone Veil appear on the new euro banknotes, as she waded into a politically sensitive topic.

European stocks mostly fall after Wall Street losses

European stock markets mainly fell Thursday with sentiment jarred by sliding shares on Wall Street, which was rocked by surging global inflation and the prospect of rising interest rates.

Emirates to resume US flights after 'temporary' 5G reprieve

Emirates said Thursday it will lift a suspension of flights to several US destinations in a "temporary reprieve" after the launch of 5G networks was delayed near American airports over safety fears.

French court says Twitter must reveal measures on online hate

A Paris court on Thursday ruled that Twitter must reveal its measures for fighting hate speech, in one of several cases thrashing out whether the French justice system has jurisdiction over the US social media giant.

Amazon may quit African HQ deal if blocked, Cape Town court hears

Online retail giant Amazon could pull out of a deal to create its Africa headquarters in Cape Town, if a legal challenge by indigenous activists is allowed to proceed, a Cape Town court heard Thursday.

Stay or go? Dilemma facing last of the Afghan Sikhs

The caretaker of the last Sikh temple in Kabul to regularly host open prayer surveysthe cavernous hall where throngs once gathered in worship.

South Africa's luxury dog hotels give paws for thought

Three dachshunds lay claim to a big bed, while an agitated mongrel yaps constantly and a miniature schnauzer appears disgruntled despite soothing Bob Marley tunes playing over the stereo.

China cuts lending rates, boosting property firms

China further reduced bank lending costs Thursday in the latest move to boost its stuttering economy, providing some much-needed support to the country's beleaguered developers.

Women barred from front seat of trucks in Ugandan city

A traders association in northern Uganda has banned women from riding up front in trucks after deciding that short skirts and bare thighs could be distracting drivers and causing accidents.

Biden warns of 'disaster for Russia' if they invade Ukraine

US President Joe Biden said Wednesday that he expects Russia to "move in" on Ukraine but warned that Moscow will pay a stiff price for a full-blown invasion.

5G launches in US without huge impact on flights

Telecom giants AT&T and Verizon began 5G service in the United States Wednesday without major disruptions to flights after the launch of the new wireless technology was scaled back.

Unilever won't up £50 bn offer for GSK-Pfizer unit

Consumer goods giant Unilever on Wednesday said it would not increase a £50-billion offer for the consumer healthcare unit owned by pharmaceutical groups GlaxoSmithKline and Pfizer.

NBC commentary teams to cover Beijing Olympics from US

US broadcaster NBC will not send any of it specialist commentary teams to cover the 2022 Beijing Winter Olympic due to fears over Covid-19, USA Today reported on Wednesday.

United Airlines reports Q4 loss on latest Covid-19 drag

United Airlines reported another quarterly loss Wednesday on the lingering drag from Covid-19 but offered an upbeat outlook on a travel comeback later in 2022 and in future years.

Wall Street ends lower amid rising oil prices

US stocks reversed course in Wednesday's trading session, ending lower for the second day amid rising oil prices and fears that the Federal Reserve will have to move more aggressively to contain inflation.

Peru demands Spain's Repsol pay for oil spill damage

Peru demanded compensation Wednesday from Spanish energy giant Repsol over an oil spill caused by freak waves from a volcanic eruption near Tonga in the South Pacific.

UK inflation hits decades high in cost-of-living squeeze

The annual rate of inflation in Britain rose to a near 30-year high in December, official data showed Wednesday, stoking fears about a cost-of-living squeeze as wages fail to keep pace.

Microsoft muscles in on first wave of the metaverse

US tech giant Microsoft's $69 billion purchase of Activision this week rocked the video game sector, but the deal may come to be remembered as the moment the metaverse went mainstream.

Coin Press - Economy (English)