Sawt Falasteen - Economy

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Featured

Indonesian stocks dive 11% as MSCI weighs market reclassification

Indonesian stocks plunged more than 11 percent Friday as index compiler MSCI said it was "no longer appropriate" to maintain the country's emerging-market status, fuelling fears of an exodus of foreign investment.

'Mixed feelings': AI cracks centuries-old ciphers

Napoleon Bonaparte ordered the wartime missive written in code, creating a puzzle that went unsolved for more than 200 years -- until AI cracked it in a matter of hours.

Last news

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.

Olympic partner Coca-Cola chided over French taxes

The French tax authorities have claimed Olympics sponsor Coca-Cola owes it millions of euros, documents showed Wednesday, in the latest such allegation just days before the Summer Games kick off.

Chelsea's Maresca expects no problems with Fernandez after race row

New Chelsea manager Enzo Maresca said Wednesday that he did not expect "any problems at all" when Argentina's Enzo Fernandez rejoins the squad ahead of the start of the Premier League season.

Council of Europe urges Jersey to up anti-money laundering efforts

The pan-European rights body Council of Europe called Wednesday on Jersey to enhance its implementation of anti-money laundering measures as it recognised the island’s strengthened legal framework.

War, economic chaos defied drive to end hunger in 2023: UN

Conflict, economic turbulence and extreme weather scuppered efforts to curb hunger last year, with around nine percent of the world's population affected, UN agencies said on Wednesday.

Natural forest regrowth can be better than planting trees: study

Countries have pledged to plant billions of trees to tackle climate change, but half the time letting forests regenerate naturally would be a better option, a major study said Wednesday.

Ferrari to accept crypto-payments in Europe

Italian luxury carmaker Ferrari said Wednesday its European dealers will start accepting cryptocurrency, following a similar move in the United States.

UK's Starmer faces first grilling from MPs after early rebellion

Keir Starmer faces his first House of Commons grilling as UK prime minister on Wednesday, after suspending seven of his own Labour MPs for rebelling over a controversial welfare policy.

Right-wing 'Schnitzel bonus' rewards 'traditional' Austrian eateries

Staples of Austrian cooking such as schnitzel, roast pork lung and boiled beef have proved particularly vital for Gasthaus Stich, a restaurant in the village of Pfoesing.

Prayers for Vance in wife's ancestral Indian village

Every day in a simple temple in an Indian village, Hindu priest Subhramanya Sharma prays to his god for JD Vance to become vice-president of the United States.

Sawt Falasteen - Economy (English)