Sawt Falasteen - Economy

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Featured

US, Canada fail to reach trade pact to avert Trump tariffs

Hefty US tariffs on some Canadian products took effect on Saturday after days of negotiations that went down to the wire failed to produce an agreement.

Arctic shipping a daunting prospect in hotly contested region

With Gulf turmoil slashing Suez Canal traffic, shipping firms are tempted to try the Arctic for quicker trips between Europe and Asia -- but commercial prospects are unlikely to match countries' strategic ambitions for the North Pole.

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Shell net profit sinks 35% in first-quarter as oil prices fall

British energy giant Shell on Friday reported a sharp drop in first-quarter net profit as it was hit by weaker oil prices but pushed ahead with shareholder returns.

Hard right wins local UK election in blow to PM Starmer

Hard-right upstarts Reform UK snatched a parliamentary seat from Prime Minister Keir Starmer's Labour party on Friday in local elections that dealt a blow to Britain's two establishment parties.

Asian stocks gain after China teases US tariff talks

Asian markets largely rose Friday, tracking Wall Street gains, as China said it was considering a US offer to negotiate steep tariffs.

Backyard barnyard: rising egg prices prompt hen hires in US

Stung by the rocketing price of eggs -- and US supermarkets rationing a basic breakfast staple -- Yong-mi Kim decided to get some chickens to secure her own supply in southern California.

Tokyo's tariff envoy says US talks 'constructive'

Tokyo's envoy for US tariff talks in Washington said Thursday that the second round of negotiations between the two countries had been "frank and constructive."

Apple expects $900 mn tariff hit as shifts US iPhone supply to India

Apple on Thursday reported first-quarter profit above expectations but warned that US tariffs could cost the company and was disrupting its supply chain.

US to end shipping loophole for Chinese goods Friday

The United States is set to end tariff exemptions on Friday for goods shipped from China worth less than $800, a move which could have significant ramifications on consumers' purchasing habits.

Serbian students, unions join forces to pressure government

Thousands took part in May Day rallies in Serbia on Thursday where unions united for the first time behind student groups to increase pressure on the government over a train station disaster that has sparked six months of mass demonstrations.

Masked protesters attack Socialists at France May Day rally

All-black-clad protesters harassed marching lawmakers and supporters of France's moderate left Socialist Party (PS) on Thursday, marring Paris's Labour Day procession as hundreds of thousands rallied across the country.

Rio goes Gaga for US singer ahead of free concert

Behind his large studded sunglasses, Victor Faro's eyes were glued on the luxury hotel overlooking Copacabana beach where US superstar Lady Gaga is staying ahead of her free mega-concert in Rio de Janeiro on Saturday.

IKEA opens new London city centre store

Swedish furniture giant IKEA on Thursday opened a new store in the heart of London's shopping district, with a flurry of balloons, flags -- and giant meatballs.

US stocks rise on Meta, Microsoft ahead of key labor data

Global stocks were mixed Thursday with Wall Street forging higher following strong results from tech giants Microsoft and Meta that helped offset lingering economic worries.

Oil prices drop, stocks diverge amid economic growth fears

Oil prices fell and stocks were mixed on Thursday in thin holiday trading, following weak US economic data that added to growth concerns.

Children learn emergency drills as Kashmir tensions rise

School playing fields in Pakistan's Kashmir are being transformed into first aid camps for children to learn how to respond if war breaks out with India.

Tesla sales plunge further in France, down 59% in April

Sales of Tesla cars in France plunged 59 percent in April, piling on more bad news for the electric vehicle company run by Elon Musk, the billionaire advisor to US President Donald Trump.

Booming tourism and climate change threaten Albania's coast

Albania's coast is being hit by a double whammy of climate change and chaotic tourist development.

US reaching out to China for tariff talks: Beijing state media

United States officials have reached out to their Chinese counterparts for talks on vast tariffs that have hammered markets and global supply chains, a Beijing-backed outlet said on Thursday citing sources.

Tariffs prompt Bank of Japan to lower growth forecasts

The Bank of Japan revised down its growth forecasts and held interest rates steady on Thursday, warning that trade tariffs are fuelling global economic uncertainty.

Nuclear power sparks Australian election battle

Rich in solar and wind power, and bulging in critical minerals for renewable energy technology, Australia touts itself as a leader in the race to net zero carbon emissions.

Tokyo stocks rise as BoJ holds rates steady

Japanese stocks rose Thursday as the central bank kept its key interest rates steady as expected, in thin trade with most Asian markets shut for the May 1 holiday.

Bank of Japan holds rates, lowers growth forecasts

The Bank of Japan on Thursday left its key interest rate unchanged but revised down its growth forecasts, warning that US trade tariffs are fuelling economic uncertainty.

UN body warns over Trump's deep-sea mining order

The head of the International Seabed Authority (ISA) on Wednesday criticized US President Donald Trump's order to fast-track deep-sea mining in the open ocean outside American territorial waters.

Global stocks mostly rise following mixed economic data

Global stocks rose for the most part Wednesday, digesting mixed economic data as more companies pull back from earnings forecasts amid uncertainty over US President Donald Trump's fast-changing trade policy.

Netflix's 'The Eternaut' echoes fight against tyranny: actor Ricardo Darin

Survival through teamwork: It's a tale as old as time with particular resonance today, says Argentine actor Ricardo Darin of his latest project "The Eternaut," which hit Netflix on Wednesday.

Meta quarterly profit climbs despite big cloud spending

Tech giant Meta reported quarterly profits well above expectations Wednesday, brushing aside market worries that its heavy investments in cloud computing and artificial intelligence would hamper growth.

Ukraine, US say minerals deal ready as suspense lingers

The United States and Ukraine said Wednesday they could sign a long-anticipated minerals deal within the day, after last-minute concerns from Kyiv as it seeks long-term US support.

US economy shrinks, Trump blames Biden

The US economy unexpectedly contracted in the first three months of the year on an import surge triggered by Donald Trump's tariff plans, although the president pinned the blame squarely on his predecessor.

Caterpillar so far not hiking prices to offset tariff hit

Caterpillar has trimmed corporate travel and other discretionary spending to offset a tariff hit, but has no plans to raise prices or overhaul supply chains, executives said Wednesday.

US economy unexpectedly shrinks in first quarter, Trump blames Biden

Renewable energy in the dock in Spain after blackout

Fierce debate raged in Spain on Wednesday over the role its reliance on renewable energy may have had in this week's blackout which disrupted millions of lives, though officials sought to downplay any potential link.

Stocks retreat as US GDP slumps rattles confidence

Stocks slid on Wall Street on Wednesday, pulling European indexes off earlier highs after the US economy contracted in the first quarter, heightening fears about the fallout of President Donald Trump's tariffs blitz on the world's largest economy.

Trump blames Biden's record after US economy shrinks

President Donald Trump lashed out at his predecessor's economic record Wednesday after US financial markets fell on the news that the American economy unexpectedly contracted in the first three months of the year.

Sawt Falasteen - Economy (English)