Coin Press - Economy

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Conservatives win German vote as far-right makes record gains

Germany's conservatives won Sunday's elections, with their leader Friedrich Merz set to become the next chancellor, followed by the far-right AfD in second place after record gains, according to exit polls.

'Captain America' slips but clings to N. America box office lead

Marvel and Disney's "Captain America: Brave New World" clung to the top of the North American box office this weekend despite a steep drop from its opening, earning an estimated $28.2 million, analysts said Sunday.

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Rotterdam says no decision on dismantling bridge for Bezos superyacht

The Dutch port city of Rotterdam has not received a request for a permit to temporarily dismantle an historic bridge to allow a superyacht built for Amazon founder Jeff Bezos to pass, local media reported Thursday.

Asian markets mostly rise as Hong Kong reopens, eyes on US jobs

Asian markets mostly rose Friday as a rally in Hong Kong on its first day back from a break helped overcome a sharp drop on Wall Street, though a surprisingly hawkish tilt from the European Central Bank added fuel to fears about the removal of pandemic-era stimulus.

Morocco rescuers dig for boy trapped in well

Moroccans waited anxiously Thursday as authorities said a dramatic operation to rescue a young boy trapped in a deep well for over two days was nearing its end.

Ford Q4 profits hit by supply chain woes

Ford reported weaker-than-expected fourth-quarter profits Thursday amid supply chain problems, even as higher car prices boosted results in North America.

Amazon holiday quarter profit doubles

Amazon on Thursday reported its profit doubled to $14 billion in the recently ended quarter, giving a boost to jittery markets that expected less due to higher labor, sourcing and delivery costs.

Cyclone Batsurai injures 12, strands ship in France's La Reunion

Tropical cyclone Batsirai skirted the French Indian Ocean territory of La Reunion Thursday, leaving at least 12 people injured and an empty oil tanker stuck aground in its wake.

At least a year for permanent solution on 5G: US air regulator

The United States will gradually permit more 5G telecommunications service near airports, but a long-term solution on air safety concerns will take at least a year, a senior regulator said Thursday.

N.Ireland leader resigns over Brexit protocol

Northern Ireland's unionist chief minister quit on Thursday, forcing his nationalist deputy also to stand down and prompting calls for early elections in the tense province.

Over 7 million visited Dubai in 2021 tourism turnaround

More than seven million foreign tourists visited Dubai last year, marking a "remarkable turnaround", the government of the Gulf city state hosting the Expo world fair announced Thursday.

Union vote at GM Mexico plant hailed as 'win' for workers

Workers at a General Motors factory in Mexico have elected an independent union -- a step hailed as a victory for labor rights helped by a revamped North American trade agreement.

Moscow to shut down Deutsche Welle bureau in Russia

Russia said Thursday it is closing the Moscow bureau of German broadcaster Deutsche Welle and revoking staff accreditations in Russia, in response to Berlin's ban on the German-language channel of Russian state TV network RT.

Facebook slump reignites debate over attracting younger audiences

Facebook announced on Thursday that its daily user numbers had fallen for the first time in its history, reopening the debate around its problem with attracting new, younger subscribers.

UK's Kew tribute to Costa Rica at annual orchid fest

Britain's Royal Botanic Gardens at Kew unveiled its annual orchid festival Thursday, turning a sliver of southwest London into a riot of tropical colour and flora celebrating biodiversity hotspot Costa Rica.

Meta slump and interest rate fears drag stocks lower

Stock markets slid Thursday, dragged down by a massive plunge in the shares of Facebook parent company Meta following disappointing earnings, as well as indications central banks may move more aggressively to raise interest rates.

US services sector growth ebbed in January amid Omicron

Growth in the US services sector slowed modestly in January amid the surging Omicron variant of Covid-19 and lingering supply chain problems, according to a survey released Thursday.

ECB chief opens door to 2022 rate hike as inflation soars

European Central Bank chief Christine Lagarde on Thursday left open the possibility of interest rate hikes this year for the first time, as the eurozone comes under pressure from soaring prices.

Meta slump drags stocks lower, oil falls

Stock markets fell Thursday, dragged down by a massive plunge in the shares of Facebook parent company Meta following disappointing earnings.

ECB sees longer inflation but stands pat on policy

European Central Bank chief Christine Lagarde said Thursday that record inflation would stay high longer than expected, but the ECB stuck to its ultra-loose monetary policy as it sees prices cooling this year.

WHO sees pause, even end of pandemic for Europe

The World Health Organization on Thursday offered Europe hope of a "long period of tranquility" and even "enduring peace" in the war on coronavirus, with a growing list of nations lifting almost all Covid curbs.

ECB sits tight as inflation pressure rises

The European Central Bank stuck to its ultra-loose monetary policy on Thursday, despite record inflation in the eurozone putting the Frankfurt-based institution under mounting pressure.

BoE agrees second rate hike in row as inflation soars

The Bank of England on Thursday lifted its main interest rate for the second time in a row in a bid to tackle decades-high inflation.

UK to support consumers as energy price cap rises 54%

The UK government on Thursday stepped in to help the hardest-hit households struggling with the rising cost of living, announcing a £9 billion package to offset soaring energy bills.

Stock markets mostly fall before European interest rate decisions

Stock markets mostly dropped Thursday as profit-taking set in after recent strong gains, as traders awaited interest rate updates from the European Central Bank and the Bank of England.

Cuba runs out of milk, breaking Castro's promise

In the early days of communism in Cuba, Fidel Castro had pledged that every child under seven would have a liter of subsidized milk every day.

Turkey inflation surges to near 20-year high

Turkey's annual inflation rate in January reached its highest level since April 2002, official data showed Thursday, after a currency crisis decimated people's purchasing power.

Shell swings into huge profit as oil price recovers

Energy giant Shell surged back into profit last year as oil prices rocketed on recovering demand with economies reopening from pandemic lockdowns.

Rio Tinto's recent scandals

Revelations of rape and sexual assault at Rio Tinto are the latest in a series of scandals to hit the global mining giant, which is listed in London and Sydney.

Asia stocks mixed as profit-taking, tech woes offset catch-up play

Asian markets were mixed Thursday, with a split between those suffering from profit-taking following a recent rally and those that were playing catch-up after a midweek break across much of the region.

Scraping a living: salt offers women lifeline in Yemen

Scooping up handfuls of white crystals from coastal pools, a group of women in Yemen harvest salt -- a traditional industry proving to be a lifeline after seven years of war.

Lisa Cook, expert on economic scars of racism, now Biden Fed nominee

A researcher focused on how discrimination has harmed the American economy and the damage downturns do to the poor, Lisa Cook would bring a new perspective to the US central bank.

Biden's Fed board nominees become political footballs

Though set up as an institution operating above the partisan fray in Washington, the Federal Reserve has again become a political football, with Republicans and business groups attacking President Joe Biden's nominees to serve on the central bank's board.

NFT museum opens its doors in United States

A museum dedicated to NFTs -- the blockchain-based creations that have taken the artworld by storm -- has opened its doors in the United States.

The NFT artist who sold a trashcan image for $252,000

Marcel Duchamp scandalised the art world in 1917 by submitting a urinal as his entry to a prestigious competition. A century later, an American artist known as Robness sparked his own controversy by selling an NFT of a rubbish bin for $252,000.

Meta's profit slips as Facebook loses users

Facebook's parent firm Meta on Wednesday delivered a gloomy mix of a sharper-than-expected drop in profit, a decrease in users and threats to its ad business that plunged shares some 22 percent in after-hours trading.

SpaceX rocket successfully launches US spy satellite

A US intelligence agency said Wednesday that its newest spy satellite successfully launched into orbit atop a reusable SpaceX Falcon 9 rocket.

Brazil hikes key interest rate to double digits

Brazil's central bank hiked its benchmark interest rate by 1.5 points Wednesday to 10.75 percent, bringing it into double digits for the first time in nearly five years to fight rampant inflation.

Spotify shares fall on worries over slowing growth amid Rogan row

Shares of Spotify tumbled Wednesday after the music streaming service -- roiled in controversy over its star podcaster Joe Rogan -- projected lower profit margins in the coming earnings period as subscriber growth slows.

Facebook parent Meta's profit slips as problems pile up

Facebook's parent firm Meta delivered unsteady results Wednesday, with threats to its key ad business, big expenses on its metaverse vision and a weaker forecast that plunged shares some 20 percent in after-hours trading.

Armenia, Turkey resume first flights in two years

Historic rivals Turkey and Armenia on Wednesday resumed their first commercial flights in two years as part of cautious efforts to warm their frozen ties.

Coin Press - Economy (English)