Sawt Falasteen - Economy

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Featured

Thousands expected at Sweden climate demo as election looms

Around 10,000 people are expected to turn out for a climate demonstration in Stockholm on Sunday, according to Swedish police and organisers, just weeks ahead of a general election where the issue is among voters' top concerns.

Macron hosts Saudi's MBS for visit ranging from esports to Mideast

French President Emmanuel Macron welcomes Saudi crown prince and de facto ruler Mohammed bin Salman on Sunday for a two-day visit set to range from esports to the war in the Middle East.

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Spain's Vanguardia daily to stop posting on 'disinformation network' X

Spain's La Vanguardia on Thursday became the latest newspaper to say it would cease publishing its reports on Elon Musk's social media platform X, saying it would rather lose subscribers than stay on a "disinformation network".

New York to revive driver congestion charge plan

New York said Thursday it will revive a controversial scheme to charge drivers entering parts of the city, a first in the United States, putting local authorities on a collision course with President-elect Donald Trump.

US stocks wobble as traders weigh future Fed cuts

US stocks wobbled on Thursday as investors waited for more clues about future interest rate cuts and worries over Donald Trump's presidency clouded optimism.

BHP, Vale cleared by Brazil court over 2015 dam disaster

A Brazilian court on Thursday cleared mining giants BHP and Vale, and their Brazilian joint venture Samarco, of responsibility over a 2015 dam collapse that caused the country's worst ever environmental disaster.

Legal migration to OECD reaches new record in 2023

Migration to richer countries reached a record level for the second year running in 2023, the OECD said on Thursday, reflecting demand for foreign labour and gaps in the workforce left by ageing populations.

Central bank independence 'fundamental' for good policy: Fed official

An independent central bank is "fundamental" to good economic outcomes, a senior Federal Reserve official said Thursday, amid concerns that president-elect Donald Trump may seek to influence Fed policy.

EU fines Meta $840 million for 'abusive' Facebook ad practices

The EU fined online giant Meta almost 800 million euros on Thursday for breaching antitrust rules by giving users of its Facebook social network automatic access to classified ads service Facebook Marketplace.

Iran tells UN nuclear chief willing to resolve 'ambiguities'

Iranian President Masoud Pezeshkian told the visiting head of the UN nuclear watchdog on Thursday that his government was willing to resolve doubts about its atomic programme, ahead of US President-elect Donald Trump's arrival in office.

Coach owner Tapestry calls off Capri bid on regulatory blocks

Fashion group Tapestry said Thursday that it was dropping its $8.5 billion bid for Capri, the owner of luxury brands including Michael Kors and Versace, following a successful legal challenge by US regulators.

EU fines Meta 798 mn euros for Facebook ad antitrust breach

'Terrible' AI has given tech an existential headache: activist

Technology firms are ceaselessly promoting new AI products, but climate activist Sage Lenier says AI is useless, unsustainable and has given the industry an existential problem.

Stock markets diverge as traders weigh future Fed cuts

Stock markets diverged on Thursday as investors digested US inflation data that supported the case for another interest rate cut next month, while worries over Donald Trump's presidency clouded optimism.

Burberry launches turnaround plan as posts loss

Troubled British fashion house Burberry on Thursday announced cost-cutting plans after posting a loss, with the global luxury sector pressured by weak Chinese demand.

Most markets drop as traders weigh Fed; bitcoin eases

Markets mostly fell Thursday as investors digested US inflation data that supported the case for another interest rate cut next month, while worries over Donald Trump's next administration continued to cloud optimism.

Greece's ambitious 'smart city' by the sea takes shape

High above the sparkling surface of the Athens coastline, the cranes for building the 50-floor luxury tower centrepiece of Greece's future "smart city" look out over the Saronic Gulf.

For profit or for all? Argentine football clubs red-card Milei reforms

A debate over the soul of football is raging in World Cup holders Argentina, pitting defenders of the social role of the beautiful game against the government of libertarian President Javier Milei, who wants to turn clubs into for-profit companies.

As Trump returns, African exporters torn between hope and horror

Citrus growers in South Africa are among the businesses most nervous that duty-and-quota-free exports to the United States could be scrapped next year when Donald Trump takes office again.

Asian markets mixed as traders weigh Fed; bitcoin above $90,000

Asian markets diverged Thursday as investors digested US inflation data that supported the case for another interest rate cut next month but worries over the next Trump administration continued to cloud optimism.

Hunger in G20 host Brazil is Lula's unfinished fight

In Neide Fernandes's fridge there is no meat, no vegetables, but there are some 20 eggs -- "the least expensive" animal protein she can afford.

Biden, Xi arrive in Peru ahead of face-to-face at Asia-Pacific summit

US President Joe Biden and his Chinese counterpart Xi Jinping arrive Thursday in Lima for an Asia-Pacific summit overshadowed by the prospect of a world embroiled in trade wars under Donald Trump.

Bitcoin hits new highs, markets stall amid US inflation increase

Global equities stalled Wednesday while bitcoin hit a fresh high as traders digested a small rise in inflation and mulled what Donald Trump's presidency might mean for global trade and the adoption of cryptocurrency.

Buy now, pay later: Latin America pressured by Chinese online shops

Isidora Olave opens a package containing a T-shirt, a skirt and a handful of glitter stickers shipped to her front door in Santiago, Chile, all the way from China almost 20,000 kilometers (11,800 miles) away.

Trump victory signals golden era for crypto industry

Donald Trump's triumphant return to the White House signals a potential golden era for cryptocurrencies, whose influential backers heavily supported his presidential bid.

Markets stall, inflation and bitcoin rise amid Trump fears

Global equities stalled Wednesday as traders fret over the impact of Donald Trump's presidency on the Chinese and global economies amid fears his policies could also reignite US inflation, which rose on latest data.

US consumer inflation rises in October on higher housing costs

US consumer inflation edged higher last month spurred by an increase in housing costs, according to government data published Wednesday, complicating the US Federal Reserve's plans to cut interest rates.

India delivery app Swiggy shares gain on market debut

Indian food delivery firm Swiggy rose nearly 17 percent on its market debut Wednesday after raising $1.34 billion in the country's second-biggest IPO this year, as investor optimism offset profit concerns.

Airlines ground Bali flights after volcano erupts

Airlines cancelled flights to and from the Indonesian resort island of Bali on Wednesday, leaving travellers stranded after a nearby volcano catapulted an ash tower miles into the sky.

Most Asian markets extend losses as Trump fears build

Asian markets fell again Wednesday as traders fret over the impact of Donald Trump's presidency on the Chinese and global economies, with fears that his policies could also reignite US inflation.

7-Eleven owner announces counter-bid to foreign buyout

The Japanese owner of 7-Eleven said Wednesday its founding family had offered a counter-bid to a takeover attempt by Canadian convenience store rival Alimentation Couche-Tard (ACT).

7-Eleven owner considers going private to avoid foreign buyout: reports

The Japanese owner of 7-Eleven is considering going private by buying back its own shares in a bid to avoid a takeover by Canadian rival Couche-Tard, reports said on Wednesday.

German lithium plant hopes to turbo-charge Europe's EV makers

Electric vehicles need batteries, and most batteries are made with lithium, a critical material European automakers are chasing as they face tough competition from China.

Asian markets extend losses as Trump fears build