Coin Press - Economy

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World stocks mostly slide, consolidating Fed-fuelled gains

Stock markets on both sides of the Atlantic pulled back Friday as profit-taking trimmed some of the gains seen after the Federal Reserve's interest rate cut this week.

Crypto firm Tether bids for Juventus, is quickly rebuffed

Cryptocurrency firm Tether said Friday it had submitted a bid to Juventus's main shareholder, Exor, to acquire its entire stake in the Turin football club -- but was quickly rebuffed.

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Queen Elizabeth II on family life

As head of state, Queen Elizabeth II was bound by convention to observe strict political neutrality and restraint.

Jeep's first electric SUV to arrive in Europe in 2023: CEO

Jeep will launch its first all-electric SUV for Europe, the "Avenger", next year, CEO Christian Meunier told AFP on Thursday, as its parent company Stellantis moves away from fossil fuel vehicles.

Euro slides as Fed chief steals ECB's rate hike thunder

The euro slid on Thursday despite a record interest rate hike by the European Central Bank as US Fed chief Jerome Powell made hawkish comments.

Fed Must act 'strongly' to avoid repeat of 1980s inflation spike: Powell

The Federal Reserve must continue to act "strongly" to cool demand and contain price pressures to avoid a repeat of the inflation surge the US economy suffered in the 1970s and 1980s, Fed Chair Jerome Powell said Thursday.

Euro and eurozone stocks fall as ECB warns of rate hikes, recession

Eurozone stocks and the euro slid on Thursday as the European Central Bank warned of more interest rate hikes and a possible recession to get a grip on soaring inflation.

UAE firm to manage air traffic over Afghanistan

A United Arab Emirates firm signed a contract with Afghanistan on Thursday to manage air traffic across the country as the Taliban authorities seek to expand international flights.

ECB unleashes historic rate hike to battle record inflation

The European Central Bank announced the largest rate hike in its history Thursday, as runaway energy prices drove eurozone inflation to new heights.

Japan says ready for 'necessary response' as yen dives

Japan is ready to take action if the yen's plummeting value remains volatile, officials repeated on Thursday, after the currency hit 24-year lows.

UK's Truss freezes energy bills in first big policy shift

New British Prime Minister Liz Truss on Thursday said domestic fuel bills would be frozen for two years, marking her first week in office with a costly plan to tackle a politically perilous cost-of-living crisis.

European stocks diverge before major UK, ECB announcements

European stock markets traded mixed Thursday, ahead of major policy decisions from Britain and the European Central Bank aimed at tackling sky-high inflation.

Taiwan chip giant TSMC sees all-time high revenue in August

Taiwanese semiconductor giant TSMC said Thursday its August revenue rose nearly 60 percent to a record high of Tw$218.13 billion ($7.06 billion) on soaring global demand.

The hungry bugs fighting Uganda's fertiliser crisis

As fertiliser prices shot up following Russia's invasion of Ukraine, Ugandan villager Peter Wakisi fretted for the future of his small farm and his young family.

Lessons learned: Sweden's pioneering for-profit 'free schools' under fire

In a Stockholm suburb, the Drottning Blanka secondary school premises look more like an office space than your traditional red-brick institution with a schoolyard and gymnasium.

Eyeing tourism boom, Saudi scrambles to train hotel staff

Under the watchful eye of an instructor, Munira al-Rubaian spreads fresh bed linen in a mock hotel room in the Saudi capital, aiming to land a job in the desert kingdom's growing tourism sector.

Human development set back 5 years by Covid, other crises: UN report

A United Nations report published Thursday argues that an unprecedented array of crises, chiefly among them Covid-19, has set human progress back five years and fueled a global wave of uncertainty.

ECB to match historic inflation with bumper rate hike

European Central Bank policymakers could reach for a historically large interest rate hike at their meeting on Thursday as they seek to tame soaring inflation.

Spielberg off to Toronto as film festival hails LGBTQ 'breakthrough year'

Steven Spielberg will lead a host of Hollywood A-listers across the border to Toronto this week for North America's biggest film festival, which organizers say will celebrate a breakthrough year for LGBTQ cinema.

'Help wanted': businesses struggle to fill jobs

Germany has a shortage of plumbers. The United States needs more postal workers. Australia is lacking engineers. In Canada, hospitals are looking for more nurses.

Jakarta's 'zombie' train confronts traffic apocalypse

In a city known for monstrous traffic, "zombies" are rising up in a scary bid to get more people to use public transport.

Countries growing 70% of world's food face 'extreme' heat risk by 2045

Blistering crop-withering temperatures that also risk the health of agricultural workers could threaten swathes of global food production by 2045 as the world warms, an industry analysis warned Thursday.

Energy majors exaggerating green performance: analysis

Energy majors are exaggerating their green credentials in public messaging while continuing to allocate the majority of new investment to oil and gas projects, according to an industry analysis released Thursday.

New malaria vaccine results raise hopes of mass rollout

A booster dose of a new malaria vaccine maintains a high level of protection against the disease, researchers said Thursday, expressing hopes the cheap jab could be produced on a massive scale in a matter of years.

Apple unveils new gadgets despite supply chain woes

Apple launched new smartphones Wednesday at prices similar to recent models despite inflation and supply chain woes, while unveiling a premium digital watch with a price tag to match.

British cinema chain Cineworld files for US bankruptcy

Britain's Cineworld, the world's second biggest cinema chain, announced Wednesday that it has filed for bankruptcy protection in the United States as it seeks to restructure after facing low audience numbers.

Truss to move teenage daughters and husband into Number 10

The UK's new prime minister Liz Truss will move her family to 10 Downing Street, including two teenage daughters who will have to get used to living in one of the country's most famous homes -- or at least using it for sleepovers.

UK's new PM vows imminent action on energy crisis

At her first parliamentary grilling as British prime minister, Liz Truss on Wednesday confirmed plans to stem huge rises in the cost of energy that threaten to plunge her new government into a winter of discontent.

Putin says Ukraine grain deal mostly helping rich EU

Russian President Vladimir Putin said Wednesday that "almost all" the Ukrainian grain shipped under a UN-backed deal to ease a global food crisis was reaching rich European nations and accused the West of deceiving developing countries.

US trade gap drops sharply in July on lower imports

A steep drop in imports, especially of consumer goods, narrowed the US trade deficit in July to its lowest level since October, the government reported Wednesday.

Finnair to slim down as Russian airspace closure hits profits

Finnish airline Finnair unveiled Wednesday a new strategy to cut costs, including trimming its fleet, as the closure of Russian air space erodes profitability.

Putin says Ukraine grain going to EU, not developing world

Russian President Vladimir Putin said Wednesday the grain leaving Ukrainian ports after a blockade that fuelled a global food crisis was mostly reaching Europe instead of developing nations and questioned the merits of the deal.

UK PM rules out windfall tax to fund energy price freeze

Liz Truss on Wednesday faced her first parliamentary grilling as British Prime Minister, ruling out a windfall tax to fund any freeze on energy bills to offset huge rises in the cost of gas and electricity.

UK PM hopes for 'negotiated solution' with EU to N.Ireland row

New UK Prime Minister Liz Truss on Wednesday said she hoped talks with the EU could help resolve a dispute over post-Brexit trade in Northern Ireland.

Coin Press - Economy (English)