Sawt Falasteen - Economy

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Featured

VW chief warns carmaker's situation 'more than critical'

Volkswagen's CEO warned Sunday the company was in a "more than critical" state ahead of meetings with the car giant's staff where he will defend the company's savings plans.

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.

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Electric car woes force German supplier ZF to axe jobs

German car parts manufacturer ZF said Friday it would cut a fifth to a quarter of jobs in Germany as it struggled with the switch to electric vehicles and foreign competition.

France's high-speed railway hit by 'sabotage' hours before Olympics

France's high-speed rail network was hit by arson attacks that disrupted travel for hundreds of thousands of passengers on Friday, just hours before the opening ceremony of the Paris Olympics.

Greece's 'Instagram island' Santorini nears saturation point

One of the most enduring images of Greece's summer travel brand is the world-famous sunset on Santorini Island, framed by sea-blue church domes on a jagged cliff high above a volcanic caldera.

Mongolians fight plastic pollution in vast steppe

Mongolian herder Purev Batmunkh sighs as he picks through waste strewn across a field -- the refuse of an unsightly and deadly waste pollution problem affecting swathes of the steppe.

TSMC leads chipmaker plunge as trade resumes after typhoon pause

Taiwanese giant TSMC tumbled with several other leading chip makers Friday as traders returned from a typhoon-imposed two-day break to play catch-up with a global tech rout.

In swing state Pennsylvania, middle class struggles to get by

The giant steelworks that greets visitors to Allentown, Pennsylvania once symbolized the city's success as an industrial hub. Today, its middle-class residents struggle to overcome the long-term impacts of post-pandemic inflation.

Five things to know about Venezuela

Venezuela, the once-prosperous South American country now scarred by years of economic ruin and political repression, holds elections on July 28, with authoritarian President Nicolas Maduro seeking a third term.

Historic French club Bordeaux to become amateur after bankruptcy

Former French Ligue 1 champions Bordeaux on Thursday said they will become an amateur club for the first time in almost 90 years after filing for bankruptcy.

Video game actors to strike in California

Hollywood's video game actors will go on strike early Friday to demand safeguards against artificial intelligence, the US actors' union announced.

US rejects plan for G20 deal to tax super-rich

The United States sees no need to negotiate an international agreement on taxing the super-wealthy, US Treasury Secretary Janet Yellen said Thursday, highlighting divisions on a plan that is top of the agenda at a G20 finance ministers' meeting in Rio de Janeiro.

American Airlines reports lower profits but wins on IT outage

American Airlines lowered its 2024 outlook Thursday on lingering effects of a botched booking system upgrade, but shares rallied as it touted a speedy recovery to last week's IT outage that plagued rivals.

US sees no need for global deal to tax super-rich: Yellen

The United States sees no need to negotiate an international agreement on taxing the super-wealthy, Treasury Secretary Janet Yellen said Thursday on the sideline of a G20 finance ministers' meeting.

US stocks rise after tech-led selloff

Wall Street stocks rose Thursday as robust US economic growth boosted sentiment following a tech-led selloff, but European markets wavered following a raft of disappointing company results.

Deutsche Bahn suffers 16-fold jump in losses in first half

Germany's state-owned train operator Deutsche Bahn said Thursday that its year-on-year net losses soared 16-fold in the first half of 2024, reflecting the impacts of extreme weather, strikes and upgrades to its ageing network.

In Rio, G20 finance ministers to mull taxing the super-rich

Faced with growing global inequality, G20 finance ministers meeting Thursday in Rio de Janeiro will tackle the thorny issue of taxes for the super-rich, a topic that has divided member states.

European rights court upholds French law against buying sex

A French law criminalising clients of sex workers does not infringe on the European Convention on Human Rights, the continent's top rights court ruled Thursday.

Bangladesh PM surveys destruction as unrest recedes

Bangladeshi Prime Minister Sheikh Hasina wept Thursday as she surveyed the destruction wrought by days of deadly unrest, as student leaders weighed the future of the protests that precipitated the disorder.

Sweden seeks to be winemaking's next frontier

Far north of iconic wine regions like Bordeaux and Tuscany, Sweden is seeing a burgeoning industry of vineyards and a first generation of winemakers trying to carve out a niche.

Refining and gas give TotalEnergies Q2 blues

French oil heavyweight TotalEnergies on Thursday reported slumping profits in the second quarter, blaming lower margins in refining and falling sales and prices for natural gas.

Nissan shares plunge after profit warning

Nissan tumbled more than 10 percent on Thursday after the Japanese automaker issued a profit warning, citing "intense sales competition", especially in the United States.

Bangladesh relaxes curfew as unrest recedes

Bangladesh further eased a nationwide curfew Thursday as students weighed the future of their protest campaign against civil service hiring rules that sparked days of deadly unrest last week.

Foreign residents surge in Japan as number of citizens drops

The number of foreign nationals living in Japan has hit a record high, according to official data released Wednesday that also showed the nation's largest-ever yearly drop in Japanese citizens.

Asian markets track tech-led plunge on Wall St, yen extends gains

Asian markets tumbled Thursday after a tech-fuelled sell-off saw Wall Street tank, as disappointing earnings caused traders to panic that a months-long rally in the sector may have been overdone.

New Japan film camera aimed at 'nostalgic' young fans

Keita Suzuki leads a group of young analogue photography fans around a coastal city in Japan, stopping to snap pastel hydrangea blooms with bulky vintage film cameras.

World's richest 1% gained $40 tn in a decade: Oxfam

The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade, Oxfam said Thursday, ahead of a G20 summit in Brazil where taxing the super-rich tops the agenda.

Ford profits tumble on higher costs, hitting shares

Ford shares tumbled Wednesday after the automaker reported lower than expected profits on higher costs connected to product launches and warranty repairs for older model vehicles.

Bank of Canada lowers key lending rate to 4.5%

Canada's central bank on Wednesday lowered its key lending rate to 4.5 percent, saying the second straight cut of 25 basis points was warranted due to slowing inflation.

Disneyland strike averted as unions agree tentative deal

Unions representing Disneyland theme park employees in California reached a tentative deal with the company on Wednesday, averting a major strike at the "happiest place on Earth."

With no money or fuel, Cuban fishermen improvise on floating rafts

Small white squares dot the ocean off Havana, an unlikely fleet of fishermen bobbing on makeshift polystyrene rafts they use to make up for a lack of fuel or money to buy a proper boat.

Gucci-owner Kering alerts on profits as earnings tumble

Luxury group Kering said Wednesday that its half-year net profit fell by half and warned operating earnings for the second half of the year would be down around 30 percent.

US new home sales dip in June, missing estimates

The sales rate of new family homes in the United States dipped in June, missing analyst estimates amid still elevated interest rates, according to government data released Wednesday.

Burned TV station showcases anger at Bangladesh PM

Torn portraits of Bangladesh's independence hero litter a ransacked state television station -- a pointed expression of public fury against his daughter, who just witnessed the worst unrest of her premiership.

Sawt Falasteen - Economy (English)