Coin Press - Economy

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Featured

New Botswana leader eyes cannabis, sunshine to lift economy

Botswana will diversify its diamond-dependent economy by launching into the medicinal cannabis market and exploiting its abundant sunshine, President Duma Boko said Tuesday, in his first state of the nation address.

China's Xi urges 'strategic' ties in talks with Germany's Scholz

Chinese leader Xi Jinping called for Beijing and Berlin to develop ties with a "strategic" and "long-term" perspective Tuesday as he met with German Chancellor Olaf Scholz in Rio de Janeiro, state media said.

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Stocks extend recovery, yen slides as doves fly

Global stocks recovered further and the Japanese yen slid against the dollar on Wednesday as the Bank of Japan issued a dovish signal it will not hike interest rates amidst market volatility.

Disney beats quarterly revenue estimates, turns streaming profit

Disney reported Wednesday better revenues than anticipated in the most recent quarter, atop a first profit in its streaming business, while its theme parks came under pressure.

Expect more product placement at Olympics, says IOC

The Olympics is set to feature more and more high-profile product placement in a major departure from the past when brands were kept away from the sport, the International Olympic Committee (IOC) said Wednesday.

Stocks extend recovery, yen slides as volatility grips markets

European and Asian stocks recovered further and the Japanese yen slid against the dollar on Wednesday with markets volatility taking centre stage.

Hong Kong's Cathay unveils deal to buy up to 60 aircraft

Hong Kong carrier Cathay Pacific said Wednesday it would buy up to 60 Airbus A330-900 aircraft as it looks to build on a post-Covid recovery and reach pre-pandemic passenger numbers in the new year.

Music and gaming help Sony hike net profit forecast

Sony raised its annual net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in video games and music, as well as image sensors used in iPhones.

Equities extend recovery, yen weakens as some calm returns

Stocks rose again Wednesday as some stability returned after a volatile start to the week, while the yen weakened further after the Bank of Japan looked to ease worries about more interest rate hikes.

Sony hikes annual net profit forecast after solid Q1

Sony raised its full-year net profit forecast on Wednesday after a solid performance in the first quarter, predicting strong sales in its video game, music and image sensor sectors.

Asian stocks extend recovery, yen weakens as some calm returns

Asian stocks rose again Wednesday as some stability returned after a volatile start to the week, though Tokyo saw more big swings and the yen weakened further as analysts warned more upheaval could be in store.

After AI, quantum computing eyes its 'Sputnik' moment

Quantum computing promises society-changing breakthroughs in drug development and tackling climate change, and on an unassuming English high street, the race to unleash the latest tech revolution is gathering pace.

Elon Musk's X sues advertisers over boycott

Elon Musk's X sued an advertising group and several large corporations on Tuesday accusing them of causing billions of dollars of losses by "illegally" boycotting the social media platform.

Stocks bounce back after rout but jitters remain

Wall Street stocks sought to rebound on Tuesday following a global rout fuelled by US recession fears, but analysts warned that market volatility is unlikely to be over.

Olympic sponsor Coca-Cola under scrutiny for widespread plastic use

The Paris Olympics organising committee said Tuesday it would meet its target to reduce single-use plastics by half compared to the 2012 London Games despite bottles by major sponsor Coca-Cola being widely used on its sites.

US trade gap narrows less than expected in June

The US trade deficit narrowed slightly less than analysts anticipated in June, according to government data released Tuesday, helped by an uptick in exports.

European stocks steady, Tokyo soars after rout

European stock markets steadied Tuesday after Asian indices enjoyed some rebounds from a global rout fuelled by US recession fears.

Saudi Aramco quarterly profit dips as output stays low

Saudi oil giant Aramco on Tuesday reported net profit of $29.07 billion in the second quarter, a slight drop from the same period last year as output remained subdued.

Mask festival brings 'buzz and beauty' to Benin's capital

Spectators poured into Benin's capital for a new festival celebrating traditional masks over the weekend as the West African country seeks to attract visitors and showcase its cultural heritage.

Tokyo's Nikkei index closes up 10.2% after previous day's record fall

Tokyo's key Nikkei index closed more than 10 percent higher Tuesday, bouncing back from a record selloff the previous day on worries over the US economy and a stronger yen.

Tokyo stocks surge after previous day's record fall

Tokyo stocks surged Tuesday following a record selloff the previous day that was fuelled by worries over the US economy and a stronger yen.

Tokyo stocks surge 8% after record fall

Tokyo stocks bounced back in early trade Tuesday following a historic selloff on worries over the US economy and a stronger yen.

Ugly day for global stocks across Wall Street, Europe, Nikkei

Global markets were a sea of red Monday, with Japan's Nikkei suffering an historic drop and New York falling hard in a pullback attributed to economic unease and fallout from recent monetary policy shifts.

Fed under pressure to cut rates as market turmoil continues

The ongoing global stock sell-off has fueled calls for the US Federal Reserve to lower interest rates swiftly and decisively, with some analysts now calling for it to make an emergency cut before its September rate decision.

Toulon rugby follows FFR in suspending Jaminet after racist comments

French rugby club Toulon said on Monday they had temporarily suspended full-back Melvyn Jaminet for making racist comments, in line with his 34-week ban from the French Rugby Federation (FFR).

Boston archbishop, ally of sex abuse victims, retires

US Cardinal Sean O'Malley, known for championing survivors of sexual abuse and pushing the Catholic Church to reform, is stepping down as the Archbishop of Boston, the Vatican announced Monday.

Turkish president slams social media 'fascism' amid Instagram battle

Turkish President Recep Tayyip Erdogan accused social media networks of "fascism" and censorship on Monday as his government blocked Instagram for a fourth day.

Stocks hammered as US data fans recession fears

Tokyo led a plunge across Asian and European stock markets Monday, after weak US jobs data fanned fears of a recession in the world's top economy and boosted bets on several Federal Reserve interest rate cuts.

German chip maker Infineon to cut 1,400 jobs

German chip maker Infineon said Monday it will slash 1,400 jobs and relocate 1,400 more due to a tough market environment, as it announced falling profits and downgraded its outlook.

TikTok, bowing to EU, withdraws rewards programme

TikTok will permanently remove a feature in a spinoff app in France and Spain that rewards users for watching and liking videos, bowing to pressure from European regulators, the EU and the Chinese-owned company said Monday.

Stocks hammered after US data fans recession fears

Tokyo led a collapse across Asian and European equities Monday, after weak US jobs data fanned fears of a recession in the world's top economy and boosted bets on several Federal Reserve interest rate cuts.

Indonesian growth slows in second quarter

Indonesia's economy grew more slowly in the second quarter of 2024 despite being supported by spending on religious holidays and increased household consumption, the country's statistics agency said on Monday.

Former England batsman Thorpe dies aged 55

Former England batsman and coach Graham Thorpe has died at the age of 55, the England and Wales Cricket Board (ECB) announced on Monday.

Greek islands and tourists search for 'balance' amid summer crush

When Frenchwoman Nadia Romon picked the island of Hydra for her Greek holiday, she was looking for "authenticity" far from the crowded summer circus.

Coin Press - Economy (English)