Sawt Falasteen - Economy

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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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Stocks heat up as US labour market cools

Stock markets rose Friday as cooling US job growth raised hopes of interest-rate cuts, while London hit another record high following speculation of a bidding war for mining giant Anglo American.

US hiring slows more than expected in sign of cooler market

US job growth came in markedly below analyst expectations in April while unemployment crept up, government data showed Friday, signaling that the labor market is cooling.

Global stocks rise, London hits new record

Global stock markets rose Friday before vital US payrolls data, with London hitting another record high as investors tracked speculation of a bidding war for mining giant Anglo American.

Markets track Wall St higher as rate hopes rise, eyes on US jobs

Hong Kong led gains across most Asian and European markets Friday thanks to a surge in tech giants, while the yen extended gains against the dollar on revived hopes for US interest rate cuts.

SK Hynix says high-end AI memory chips almost sold out through 2025

South Korean semiconductor giant SK Hynix said Friday its entire 2024 production of high-end memory chips was sold out and most of next year's line was gone too, reflecting the huge demand for cutting-edge AI hardware.

Luxury brands lure Chinese shoppers despite slowdown

Sipping champagne and nibbling fried dumplings, Shanghai's rich and influential posed by Louis Vuitton signs at a runway afterparty –- a lavish affair designed to win customers in China's crucial market.

Asian markets track Wall St higher as rate hopes rise, eyes on US jobs

Hong Kong led another rally across Asian markets Friday thanks to a surge in tech giants, while the yen extended gains against the dollar on revived hopes for US interest rate cuts.

Spain's fashion and beauty group Puig poised for IPO

The iconic Nina Ricci, Paco Rabanne and Jean-Paul Gaultier labels make their market debut Friday as Spanish fashion and beauty group Puig begins trading on the Madrid stock exchange.

Paul Auster's wife deplores reporting on US writer's death

The wife of US writer Paul Auster, who died due to lung cancer complications, said Thursday that her family was "robbed" of "dignity" after a friend quickly confirmed his death to media outlets.

Apple profit ebbs as iPhone sales under pressure

Apple on Thursday said its quarterly profit ebbed but topped market forecasts as it announced an unprecedented $110 billion share buyback.

US stocks advance ahead of April payroll data

US stocks rose on Thursday as investors digested the Federal Reserve interest rate outlook and awaited Apple's latest results on the eve of critical payroll data.

US stocks advance before Apple earnings, US payroll data

US stocks rose on Thursday as investors digested the Federal Reserve interest rate outlook and awaited Apple's latest results on the eve of critical payroll data.

Stocks mostly higher before Apple earnings, US payroll data

Global stock markets mostly rose on Thursday as investors digested the Federal Reserve interest rate outlook and awaited Apple's latest results on the eve of critical US payroll data.

US trade gap wider than anticipated in March

The US trade deficit was wider than analysts anticipated in March -- hovering close to the biggest in nearly a year -- with exports and imports both declining, according to government data published Thursday.

Markets diverge before Apple earnings, on eve of key US data

European stock markets diverged Thursday as investors digested the Federal Reserve interest rate outlook and awaited Apple's latest results on eve of critical US payroll data.

Shell logs 'strong' quarter as earnings fall but top expectations

British oil and gas giant Shell announced Thursday that first-quarter earnings fell but beat expectations in a "strong" performance, and unveiled another bumper stock buyback.

OECD lifts 2024 growth forecasts, driven by US

The OECD raised its global economic growth forecast for 2024 on Thursday, driven by strong performances in the United States and emerging countries while Europe lags behind.

Weight-loss drug maker Novo Nordisk's profits soar further

Danish pharmaceutical giant Novo Nordisk reported more soaring profits on Thursday thanks to the popularity of anti-diabetes and weight-loss drugs Ozempic and Wegovy, which have made it Europe's most valuable company.

Shell logs sliding profits as revenues sink

British energy major Shell on Thursday posted sharply lower first-quarter net profit on sinking revenues, but adjusted earnings topped expectations and it unveiled another bumper stock buyback.

Microsoft announces $2.2 bn AI, cloud investment in Malaysia

Microsoft pledged a $2.2 billion investment in artificial intelligence and cloud computing in Malaysia on Thursday to help develop the country's AI infrastructure.

Yen slips after rallying on suspected intervention, stocks mixed

The yen weakened Thursday following another surge against the dollar that fuelled speculation Japanese authorities had intervened for a second time this week, after Federal Reserve boss Jerome Powell warned interest rates would stay higher for longer.

Wall Street stocks end mostly down while dollar slides after Fed decision

Wall Street stocks finished a choppy session mostly lower while the dollar retreated Wednesday after the Federal Reserve's latest decision to hold interest rates steady.

Harvey Weinstein faces accuser as judge orders retrial

Disgraced film mogul Harvey Weinstein faced one of his accusers in New York court Wednesday as he was told he would be retried for rape and sexual assault convictions that were overturned in the state.

Wall Street mixed, dollar steady ahead of Fed update on rate outlook

The dollar steadied Wednesday and Wall Street shares were mixed as investors went into a holding pattern ahead of key announcements from the US Federal Reserve.

Harvey Weinstein due in court after NY convictions quashed

Disgraced film mogul Harvey Weinstein was due in court in New York on Wednesday for the first time since his convictions in the state were overturned.

Wall Street mixed, dollar steady, before Fed delivers update on rates

Wall Street shares opened mixed and the dollar steadied Wednesday as investors waited to hear the US Federal Reserve's latest thinking on interest rates.

US private sector job growth higher than expected: ADP

Hiring in the US private sector cooled in April but job growth was still higher than anticipated, boosted by the services sector, payroll firm ADP said Wednesday.

Pfizer profits drop on lower Covid-19 product sales

Pfizer reported a drop in profits on lower sales of Covid-19 related profits Wednesday as it steers investments to other pharmaceutical areas and implements previously announced cost cuts.

Dollar steady and London shares higher before Fed update on rates

The dollar steadied and London shares were slightly higher in holiday-thinned trading Wednesday as investors awaited clarity on the outlook for US interest rates.

Asian markets track Wall St down as Fed looms

Asian stocks sank in holiday-thinned trade Wednesday, tracking a sharp sell-off on Wall Street after fresh US data dealt another blow to hopes the Federal Reserve will cut interest rates this year.

Asian markets track Wall St down ahead of Fed decision