Coin Press - Economy

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Featured

Magritte painting nets auction record of $121 million

A painting by Rene Magritte shattered an auction record for the surrealist artist on Tuesday, selling for more than $121 million at Christie's in New York.

Markets fluctuate as traders weigh geopolitical tensions

Stocks fluctuated Wednesday following a positive lead from Wall Street as traders assessed the prospect of an escalation in the Russia-Ukraine war, Donald Trump's second presidency and the outlook for US interest rates.

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Trial starts for Vietnam tycoon in $146 million graft case

A former Vietnamese property and aviation tycoon charged with $146 million in fraud and stock market manipulation went on trial in Hanoi Monday, the latest corruption case targeting the communist country's business elite.

China central bank cuts two key rates to support flagging economy

China's central bank on Monday cut two benchmark interest rates in a bid to boost lending and kickstart growth in the world's second-largest economy.

Asian markets drop as Biden drops out of White House race

Asian markets fell Monday as Joe Biden's decision to drop out of the US presidential race fuelled fresh uncertainty, while traders appeared to be unmoved by China's decision to cut interest rates in a bid to boost the country's stuttering economy.

China central bank says cuts two key rates to support economy

China's central bank on Monday cut two benchmark interest rates in a bid to boost lagging growth in the world's second-largest economy.

Universal's 'Twisters' storms to top of N.America box office

Universal's weather thriller "Twisters" spun up a huge maiden weekend, earning an estimated $80.5 million to top the North American box office, industry watcher Exhibitor Relations said Sunday.

Bangladesh court winds back job quotas that sparked unrest

Bangladesh's top court on Sunday pared back, but fell short of public demands to abolish, contentious civil service hiring rules that sparked nationwide clashes between police and university students that have killed 151 people.

Unregistered Senegal youth struggle for legal status

It was only when 12-year-old Senegalese schoolboy Lassou Samb prepared to sit his end-of-year exams that his lack of any legal documentation finally caught up with him.

Bangladesh court to rule on job quotas that sparked unrest

Bangladesh's top court was due to rule Sunday on the future of civil service hiring rules that sparked nationwide clashes between police and university students, killing 133 people.

French police clear water demonstrators from port blockade

French police removed demonstrators from the western port of La Rochelle with tear gas Saturday, as environmentalists and small farmers mobilised against massive irrigation reservoirs under construction.

South Korea complains to FIFA over racist abuse of Hwang

South Korea's football association has officially complained to the world body about an alleged racist remark directed at Wolverhampton Wanderers forward Hwang Hee-chan despite Italian club Como denying the accusations.

Lula slammed after joking about violence against women

Brazil's President Luiz Inacio Lula da Silva sparked controversy this week after making a joke about violence against women.

Conspiracy theories take off after global IT crash

From fearmongering about a looming "World War III" to false narratives linking a cabal of global elite to a cyberattack, a torrent of online conspiracy theories took off Friday after a major IT crash.

US to phase out federal purchase of single-use plastics

President Joe Biden's administration on Friday announced plans to phase out single-use plastics in all federal operations by 2035, as part of a broader effort to combat what it deemed a rising global crisis.

Air passengers 'in limbo' as global IT crash grounds flights

Travellers faced sleeping overnight at the airport or giving up and taking to the road for an arduous journey instead, as Friday's worldwide IT breakdown caused chaos and left air passengers around the world "in limbo".

Stocks slide as global tech outage rattles investors

Stock markets slid Friday after computer systems crashed worldwide, with sentiment also hit by US election uncertainty and Chinese economic worries.

Stocks mostly slide as global tech outage rattles investors

Stock markets mostly slid Friday after computer systems crashed worldwide, with sentiment also hit by US election uncertainty and Chinese economic worries.

IT outage hits athletes arriving for Paris Olympics

Paris Olympics organisers said on Friday they were experiencing problems linked to the global IT outage, causing difficulties in handing out accreditations to athletes and officials arriving for the Games.

Paris shops, restaurants say Olympics hammering business

Paris shops, restaurants, bars and clubs are facing an "unprecedented slump in business and footfall", trade groups said Friday, blaming in part the "heavy security measures" imposed ahead of the Olympic Games starting July 26.

Massive global IT crash hits airlines, banks, media

Airlines, banks, TV channels and other business across the globe were scrambling Friday to deal with one of the biggest IT crashes in recent years, caused by an update to an antivirus program.

One dead as Huthi-claimed drone breaches Israel defences

A drone claimed by Yemen's Huthi rebels slipped through Israel's vaunted air defence system on Friday to hit a Tel Aviv building near a US embassy annex, killing a civilian.

One dead in rare drone strike on Israel claimed by Yemen's Huthis

A drone claimed by Yemen's Huthi rebels slipped through Israel's vaunted air defence system on Friday to hit a Tel Aviv building near a US embassy annex, killing one person.

Markets fall with eyes on US election, while China disappoints

Equities sank Friday as optimism over expected US interest rate cuts was offset by uncertainty about the US presidential election and a lack of economy-boosting measures from Chinese leaders after a closely watched policy meeting.

Renewable electricity to outstrip coal next year: IEA

The amount of electricity produced from renewable sources worldwide is set to surpass output from coal-fired plants for the first time in 2025, the International Energy Agency said Friday.

Beijing vows to ease local government debt woes after key meeting

Chinese officials pledged Friday to help ease debt pressure on local governments through reforms to the tax system, after a key political gathering in the capital focused on jumpstarting the faltering economy.

Markets track Wall St loss with eyes on US race, China disappoints

Asian equities sank in line with Wall Street Friday as the optimism over expected US interest rate cuts was overshadowed by uncertainty about the presidential election and worries over China's economy.

US streaming rivals team up to catch Netflix

US video streaming companies are joining forces to attract new viewers, boost ad sales, and finally turn a profit -- something only Netflix has managed to accomplish so far.

Japan inflation rises slightly to 2.6% in June

Japanese inflation was slightly higher in June, with prices rising 2.6 percent on-year compared with 2.5 percent in May, internal affairs ministry data showed Friday.

Wall Street stocks tumble as tech rebound loses steam

Wall Street's top indices fell on Thursday as a rebound in tech shares tumbled, adding to losses triggered by fears of new trade tensions.

Nigerian president to hike minimum wage as living costs rise

Nigeria's President Bola Ahmed Tinubu agreed on Thursday to more than double the monthly minimum wage to 70,000 naira ($43) as the country struggles with a severe cost of living crisis.

ECB leaves September options 'wide open' after rate pause

The European Central Bank is keeping options "wide open" for September, president Christine Lagarde said, after holding interest rates steady Thursday in the wait for more evidence that inflation was on the right track.

'Extremely important' US keeps backing Ukraine: NATO chief

NATO Secretary General Jens Stoltenberg on Thursday said it was "extremely important" that the United States maintains its backing for Ukraine, after former president Donald Trump chose a sceptic of aiding Kyiv as his election running mate.

EU chief von der Leyen wins second term

European Commission President Ursula von der Leyen on Thursday won a second five-year term that she promised would see the EU bolstering its defence capability, strengthening its industry and tackling a housing crisis.

Coin Press - Economy (English)