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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Hundreds gather in Kyiv for war-shrouded Pride march

Under the pouring rain and overshadowed by war, Dina Ivanova joined the few hundred who gathered in Kyiv on Sunday for the Ukrainian capital's first Pride march since the Russian invasion, guarded by a heavy police presence.

UK 'guinea pig' for election security before landmark votes

The UK general election is being watched closely after stark warnings that rapid advancements in cyber-tech, particularly AI, and increasing friction between major nations threaten the integrity of 2024's landmark votes.

Chinese Premier Li toasts warming trade ties in Australia

Chinese Premier Li Qiang mixed a dash of "panda diplomacy" with a visit to a historic vineyard on Sunday to celebrate a thaw in once-icy trade ties with Australia.

Zelensky seeks internationally agreed peace plan to present to Russia

As world leaders lined up to offer their support at summit for peace in Ukraine Saturday, President Volodymyr Zelensky voiced hope of garnering international agreement around a proposal to end the war that he could present to Moscow.

I.Coast relies on livestock from crisis-hit Sahel for Eid

At a muddy market in a city district in Ivory Coast, hundreds of animals are lined up to be sacrificed for this Sunday's Muslim festival of Eid.

Ukraine seeks path to just peace at Swiss summit

President Volodymyr Zelensky said he hoped to find paths to a "just peace" as soon as possible, as a first international summit on pathways to end Russia's war in Ukraine opened Saturday.

Ukraine summit to open in Switzerland, seeking path to peace

World leaders were set to join Ukrainian President Volodymyr Zelensky on Saturday for a summit on peace in his country. But without Russia in attendance, it is being seen as merely a first step in a long process.

Moschino unveils first men's collection by Appiolaza in Milan

Luxury Italian fashion house Moschino kicked off the men's catwalk shows at Milan Fashion Week Friday with its first menswear collection under new artistic director Adrian Appiolaza.

South Africa's Ramaphosa re-elected after coalition deal

South Africa's President Cyril Ramaphosa was re-elected for a second term on Friday, after his humbled ANC cobbled together an unprecedented coalition government.

Crew evacuated as ship hit by Yemen rebels drifts in Red Sea

The crew of a ship that was holed in an attack by Yemen's Huthi rebels has been evacuated and the vessel is drifting in the Red Sea, a security agency said on Friday.

Crews raze building that was scene of US school shooting

Crews started on Friday to tear down a building that was the scene of a US school shooting in 2018 that left 17 people dead.

French stocks drag down European markets on election jitters

The Paris stock exchange slipped on Friday towards its worst week in more than two years and the euro fell, dragging down other European markets as investors fret over France's looming snap election.

South African parties strike coalition deal

South Africa's newly elected parliament met Friday and was expected to re-elect President Cyril Ramaphosa to form an unprecedented coalition government after his humbled ANC cobbled together a deal.

Parents in 'emotional shock wave' after son freed from Gaza

When Andrey Kozlov saw his mother after being rescued from eight months of captivity in Gaza, the Russian-Israeli fell to his knees while she hugged him.

Yen drops and Nikkei rises as BoJ delays tightening; markets mixed

The yen fell and Tokyo stocks rose Friday after the Bank of Japan deferred a plan to cut back its bond purchases as it cautiously moves away from its ultra-loose monetary policy.

France makes 700-mn-euro offer for Atos security units

Debt-laden tech group Atos said Friday the French state has made a 700-million-euro bid for its most sensitive businesses, including cybersecurity and supercomputers used for the country's nuclear deterrent.

Bank of Japan to scale down huge bond-buying programme

The Bank of Japan on Friday said it would reduce its vast hoard of government bonds as it cautiously steps away from its long-running ultra-loose monetary policy.

G7 summit turns to simmering tensions with China

G7 leaders turn their attention to China on Friday on the second day of an Italy summit, with a focus on how to protect their industries while avoiding an outright trade war with Beijing.

IMF board approves Argentina payout of almost $800 mn

The IMF executive board voted Thursday to approve a payout of almost $800 million for Argentina as it continues a program of drastic economic reforms under its libertarian president, Javier Milei.

Microsoft faces heat from US Congress over cybersecurity

Members of US Congress on Thursday pressed Microsoft to explain a "cascade of avoidable errors" that allowed a Chinese hacking group to breach emails of senior US officials.

Argentine monthly inflation lowest in 2.5 years

Monthly inflation in economically troubled Argentina came in at 4.2 percent in May, the lowest in two-and-a-half years, mainly due to a drop in consumption, the INDEC statistics agency said Thursday.

European bourses fall amid political unease; Nasdaq ends at new record

Stock markets mostly retreated on Thursday as traders reacted to political uncertainty in Europe and the US Federal Reserve's plan to only cut interest rates once this year.

Bond-buying in focus as Bank of Japan decides policy

The Bank of Japan is expected to hold interest rates steady on Friday but reports said it could gradually reduce its vast hoard of government bonds as it shifts away from a long-running ultra-loose monetary policy.

Boeing rebuts US assertion of possible MAX prosecution, meeting deadline

Boeing has officially contested a Department of Justice determination that the passenger plane giant can be prosecuted for violating a criminal settlement following two fatal 737 MAX crashes, a person familiar with the matter told AFP Thursday.

G7 leaders agree $50 billion loan for Ukraine

G7 leaders agreed Thursday on a new $50 billion loan for Ukraine using profits from frozen Russian assets, support that was welcomed by President Volodymr Zelensky -- though he emphasised the need for more weapons.

LVMH, Accor team up to develop Orient Express brand

French hotel group Accor and luxury goods giant LVMH said Thursday they had entered into a "strategic partnership" to develop the fabled Orient Express brand.

Stocks fall after US Fed rate cut plans

Stock markets mostly retreated on Thursday as traders reacted to political uncertainty in Europe and the US Federal Reserve's plan to only cut interest rates once this year.

Russians shrug off sanctions on dollar, euro trading

Russians on the streets of the capital shrugged off new US sanctions on dollar and euro trading Thursday, claiming they had no need for Western currencies in their heavily targeted economy.

Stocks diverge after US Fed rate cut plans

Stock markets diverged on Thursday as traders reacted to the US Federal Reserve's plan to only cut interest rates once this year.

G7 tussels over abortion as Italy accused of attacking rights

The US pushed back hard Thursday against a reported attempt by Italy to water down a G7 leaders' declaration on abortion by removing a reference to "safe and legal" terminations.

UK's Labour pitches for power with 'wealth creation' pledge

Britain's Labour party launched a "manifesto for wealth creation" Thursday, pledging to get the economy firing again if it wins power in next month's election after 14 years in opposition.

European stock markets falter

European stock markets faltered Thursday following mixed showings by Asia and on Wall Street, as traders reacted to US Federal Reserve signals that it plans only one interest-rate cut this year.

Russian stock market suspends dollar trades after US sanctions

Russia's main stock exchange halted dollar and euro trades on Thursday after the United States hit Moscow with a new package of sanctions over its military offensive in Ukraine.

G7 to agree $50-bn Ukraine loan at Italy summit

G7 leaders were set to agree on a new $50-billion loan for Ukraine as they gathered Thursday for a summit in southern Italy, using the profits from frozen Russian assets.

Why are Chinese electric cars in EU crosshairs?

The European Union said this week it would slap additional tariffs of up to 38 percent on Chinese electric cars from next month after an anti-subsidy probe.

Musk says Tesla shareholders voting for his pay package by 'wide margins'

Tesla CEO Elon Musk said late Wednesday that the electric vehicle company's shareholders were voting to approve his multibillion-dollar pay package by "wide margins" before the ballot had been concluded.

Asian stocks build on Wall St records after US inflation data

Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve's forecast of just one interest rate cut this year.

G7 eyes Ukraine funding plan at Italy summit

G7 leaders gather Thursday for the first day of an Italy summit, seeking to seal a deal on using frozen Russian assets to help war-torn Ukraine.

Tesla in last-minute shareholder sprint for huge Musk pay package

Electric vehicle company Tesla kept up the campaign to win last-minute votes ahead of a Thursday shareholder meeting that will weigh in on CEO Elon Musk's giant compensation package.

Coin Press - Economy (English)