Sawt Falasteen - Economy

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Featured

Microsoft holds 27% of OpenAI in revamped partnership

Microsoft and OpenAI announced Tuesday a sweeping overhaul of their landmark artificial intelligence (AI) partnership, giving both companies greater independence while maintaining their close collaboration.

Apple ordered to pay French operators 39 mn euros over iPhone sales

A French court has ordered Apple to pay around 39 million euros ($45 million) to mobile network operators over accusations it imposed unfair contract conditions to allow them to sell iPhones.

Last news

US revokes visa for Nigerian Nobel laureate Wole Soyinka

The US consulate in Lagos has revoked the visa of Nigerian writer Wole Soyinka, the Nobel laureate said Tuesday.

Why are stock markets hitting record highs?

Why have stock markets around the world -- from Wall Street to Tokyo and from Paris to Seoul, been striking record highs despite the uncertain political and economic outlook?

Berlin says Rosneft subsidiaries not impacted by US sanctions

US sanctions targeting Rosneft will not impact the Russian oil giant's German subsidiaries, the German government told AFP Tuesday, downplaying fears their operations could be affected as they were not formally excluded.

Wall Street record rally rolls on

Wall Street's major indices pushed higher on Tuesday, a day after striking record highs on optimism over a reduction in US-China trade tensions.

Amazon cuts staff by 14,000

US online retail and cloud computing giant Amazon said Tuesday that it is reducing its workforce by 14,000 posts to streamline operations as it invests in artificial intelligence, without saying where the cuts will be made.

Stocks retreat after Wall Street surge

Major European and Asian stock markets mostly fell Tuesday as they waited for further developments after Wall Street struck record highs on optimism over US-China trade tensions.

European court clears Norway of climate misconduct over oil licences

The European Court of Human Rights said Tuesday that Norway did not breach its climate obligations when it awarded Arctic oil and gas exploration licenses in 2016.

Asian markets cool as Trump hails ties on Japan trip

Asian markets cooled off Tuesday after the previous day's surge as traders digested Donald Trump's visit to Asian ally Japan, ahead of his high-stakes talks with Chinese President Xi Jinping later this week.

Beef, defence deals and rare earths: how Japan's new leader wooed Trump

Japan pulled out all stops for this week's visit by US President Donald Trump -- his first with new Prime Minister Sanae Takaichi.

Kenya conservation areas evolve to keep Maasai and wildlife together

At dawn in a village in Kenya's Maasai Mara wilderness, zebras rouse themselves and head away from the huts where they like to sleep as protection from lions.

HSBC profit falls in third quarter, hit by legal woes

HSBC reported a 14 percent drop in third-quarter pre-tax profit on Tuesday, with the banking giant's bottom line weighed down by legal provisions related to the late Bernard Madoff's huge investment fraud.

Takaichi, Trump swap praise for 'new golden age' of ties

Japan's new premier Sanae Takaichi lavished US leader Donald Trump with praise and vows of a "golden age of ties" on his visit to Tokyo Tuesday, before inking a deal with Washington aimed at securing critical minerals.

Trump tells Japan US is 'strongest level' ally

Donald Trump told Japan's new leader Sanae Takaichi on Tuesday that Washington is an ally of the strongest level, as the US president visited Tokyo on an Asia trip taking aim at a trade deal with China.

Amazon to cut 30,000 office jobs: media reports

Amazon will lay off tens of thousands of office workers as the e-commerce and tech giant trims costs amid ramped-up investments in artificial intelligence, according to US media reports.

Wall Street stocks hit fresh records on easing US-China worries

Wall Street stocks ended at fresh records again on Monday over optimism that the US-China trade war was about to ease, with a possible deal in view when presidents Donald Trump and Xi Jinping meet later this week.

Russia's Lukoil to sell overseas assets after US sanctions

Russian oil giant Lukoil will sell its overseas assets, the company said late Monday, after it was hit with US sanctions over the war in Ukraine.

Asian stocks rally on US-China trade progress; Europe flat

Asian stock markets rallied Monday as investors cheered a breakthrough in US-China trade talks that set the stage for presidents Donald Trump and Xi Jinping to perhaps finalise a deal, averting an escalation in the world's biggest trade dispute.

Asia stocks surge on US-China trade deal breakthrough

Asian equities surged Monday as investors cheered a breakthrough in US-China trade talks that set the stage for leaders Donald Trump and Xi Jinping to finalise a deal, averting an escalation in the world's biggest trade dispute.

Trump in Japan as hopes grow for China trade deal

Donald Trump arrived in Japan on Monday, the next leg of an Asia tour that could see the US president and China's Xi Jinping end their bruising trade war.

'Definitive solution' on Brazil-US trade within days: Lula

Brazil's President Luiz Inacio Lula da Silva said Monday a trade deal with the United States could happen within days, possibly easing punitive tariffs after months of animosity.

ECB to hold interest rates steady with inflation subdued

The European Central Bank is expected to hold interest rates steady this week for its third straight meeting, with inflation under control and the long-struggling eurozone economy looking healthier.

Trump departs for Japan ahead of key China meet

US President Donald Trump headed to Japan on Monday, the second leg of an Asia tour, in advance of a meeting with China's Xi Jinping aiming to end the bruising trade war between the world's largest economies.

Australia sues Microsoft over 'misleading' AI offer

Australia's competition watchdog accused Microsoft on Monday of misleading people into paying for its AI assistant Copilot.

Nigeria refinery aims to be world's biggest with expansion

Nigeria's Dangote oil refinery, already the largest in Africa, aims to become the biggest in the world in three years' time with an expansion doubling its capacity, its owner said on Sunday.

UK police arrest asylum seeker sex offender mistakenly freed

UK police on Sunday arrested an Ethiopian asylum seeker and convicted sex offender, whose crimes had sparked anti-immigration protests, after he was accidentally released from prison in an embarrassing blunder by officials.

India and China to resume direct flights as ties improve

India and China resume direct flights on Sunday after a five-year suspension, a move important both for trade and a symbolic step as Asia's giants cautiously rebuild relations.

Predators 'slip through the cracks' in Australian childcare

Serial child sexual abuse cases in Australian daycare centres have spurred a rush to close security gaps that let predators through the door.

Global race for rare earths comes to Kenya's Mrima Hill

Division and suspicion have gripped five villages near Kenya's coast as global powers from the United States to China eye a forest that is rich in rare earths -- minerals vital to high-tech and low-carbon industries.

French government under pressure as lawmakers set to vote on wealth tax

French lawmakers were due on Saturday to vote on a wealth tax, after a swing group threatened to topple the government if the levy was not added in next year's austerity budget.

US wants to deport Salvadoran man in immigration row to Liberia

The US government wants to deport Kilmar Abrego Garcia, the Salvadoran man at the center of a row over President Donald Trump's immigration crackdown, to Liberia and possibly by month's end, a court filing showed Friday.

UN has 'stopped working': Brazil's Lula

Brazilian President Luiz Inacio Lula da Silva took a swipe Saturday at the United Nations and other multilateral institutions, saying they "stopped working" and failed to protect Gaza's war victims.

Trump slams 'dirty' Canada despite withdrawal of Reagan ad

US President Donald Trump slammed Canada for playing "dirty" Friday as a row over an advertisement featuring former leader Ronald Reagan that prompted Trump to scrap trade talks showed no sign of abating.

Sawt Falasteen - Economy (English)