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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Leaders tout nuclear power as climate tool at Brussels summit

More than 30 countries -- including European nations, the United States, Brazil and China -- took part on Thursday in the first-ever summit held by the United Nations' atomic energy agency to promote nuclear as a "clean and reliable source of energy".

Turkey's central bank hikes rate to 50% as inflation rises

Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month.

Switzerland kickstarts rate cuts for major central banks

The Swiss National Bank on Thursday became the first major central bank to cut interest rates after a sustained period of hikes to combat soaring inflation, with all eyes on when the US Federal Reserve will follow suit.

Turkey's central bank hikes interest rate to 50%

Turkey's central bank hiked its key interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month.

Stock markets rally as more rate cuts eyed

European and Asian stock markets largely rallied Thursday following fresh record-highs for Wall Street as investors cheered the prospect of cuts to US interest rates.

Switzerland becomes first developed economy to cut interest rate

The Swiss National Bank cut interest rates on Thursday -- the first to do so among the major central banks, saying the battle against inflation was working almost two years after launching its monetary tightening campaign.

Lessons of 2004 Athens Olympics? Resist the building urge

On a sunny day on the Athens waterfront, a gentle breeze blows through the smashed windows of the abandoned 2004 Olympics beach volleyball centre.

Stocks track Wall St record after Fed keeps rate projection

Markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.

'Drag is therapy': Violet Chachki on coming to Paris

Violet Chachki is the first male-bodied drag queen ever to dance at the fabled Crazy Horse cabaret in Paris, where she hopes her appearance will help "spread the therapy" she herself got from drag.

Bank of England to hold rate despite slowing inflation

The Bank of England is widely expected to keep its main interest rate at a 16-year high Thursday, rejecting a cut as inflation remains well above target despite recent slowing.

UN General Assembly to address AI's potential risks, rewards

The UN General Assembly will turn its attention to artificial intelligence on Thursday, weighing a resolution that lays out the potentially transformational technology's pros and cons while calling for the establishment of international standards.

Asian stocks track Wall St record after Fed keeps rate projection

Asian markets rallied Thursday after Wall Street's record-breaking day as traders welcomed news that the Federal Reserve still saw three interest rate cuts this year even after recent data pointed to a bounce in inflation.

Social media company Reddit set for NYSE debut after IPO

The Reddit social network was set to make its trading debut Thursday after pricing robustly in an initial public offering that suggested greater investor enthusiasm for new stock issuers.

Global fertility rate to keep plummeting, major study warns

The population of almost every country will be shrinking by the end of the century, a major study said Wednesday, warning that baby booms in developing nations and busts in rich ones will drive massive social change.

Hermes faces US lawsuit over 'refusal' to sell Birkin bag

Fashionistas desperate to get their hands on an exclusive Birkin handbag are suing Hermes in California on grounds the company won't sell them one unless they buy other luxury products first.

US indices hit records as Fed confirms plan for 2024 rate cuts

cMajor Wall Street indices surged to fresh records Wednesday after the Federal Reserve reaffirmed plans for interest rate cuts in the coming months, cheering investors who had feared a retreat.

Gucci owner Kering's shares suffer historic fall after sales warning

Gucci owner Kering had its worst ever day on the Paris stock market Wednesday after it warned that it was expecting a sharp drop in sales in the first quarter.

US Fed holds key rate, pencils in 3 cuts this year

The US Federal Reserve voted Wednesday to hold interest rates at a 23-year high for a fifth consecutive meeting, while signaling it still expects to make three cuts this year.

Stock markets in holding pattern before Fed announcement lands

Stock markets barely budged Wednesday as traders awaited the outcome of the US Federal Reserve's interest rate meeting.

No oil and gas majors aligned with climate targets: report

All major oil and gas companies plan fossil fuel expansion incompatible with limiting warming to 1.5 degrees Celsius, a new report said Wednesday.

Paris Opera faces questions over lack of women, Russian conductor

The Paris Opera faced questions Wednesday over its new programme, which includes only one woman among its directors and choreographers, and the inclusion of a conductor with ties to the Russian state.

Stock markets hold largely steady before Fed rate meeting

Stock markets were mostly in wait-and-see mode Wednesday as traders awaited the outcome of the US Federal Reserve's interest-rate meeting.

Gucci owner Kering's shares head toward historic fall

Gucci owner Kering headed toward its worst day ever on the Paris stock market on Wednesday after it warned that it was expecting a sharp drop in sales in the first quarter.

Argentina's battered middle class shrinking under Milei

Argentina's middle class is vanishing: with austerity cuts introduced by self-proclaimed "anarcho-capitalist" President Javier Milei, ever more people cannot afford schooling or medicine, even those holding down two jobs.

Stock markets turn hesitant before Fed, yen softens

European equity markets mostly fell Wednesday despite a bright Asian performance and fresh Wall Street records as anxious traders awaited the outcome of the Federal Reserve's interest-rate meeting.

Google hit with 250-mn-euro French fine in news copyright fight

French regulators said Wednesday they were fining Google 250 million euros ($272 million) for breaching commitments on paying media companies for reproducing their content online and for using their material for its AI chatbot without telling them.

EU agrees new caps on duty-free Ukraine farm imports

EU member states and lawmakers on Wednesday reached a deal to cap duty-free imports of a range of Ukrainian farm goods, which were allowed in the wake of Russia's invasion but have drawn fierce protests from farmers in the bloc.

Polish farmers block roads to protest Ukraine imports

Polish farmers on Wednesday staged tractor blockades on roads nationwide in their latest protest against farm imports from outside the European Union and the bloc's environmental red tape.

Russian rescuers scramble to save 13 trapped under gold mine

Russian rescuers were scrambling to save 13 workers trapped inside a giant gold mine near the Chinese border for a second day on Wednesday, as officials warned of a "difficult situation".

Chinese internet giant Tencent posts lowest annual profit since 2019

Chinese internet giant Tencent on Wednesday posted its lowest annual profit since 2019, despite slight improvements recently in China's economy and a more lenient attitude taken by regulators towards the tech sector.

UK inflation slows to lowest level in almost 2.5 years

Britain's annual inflation rate fell more than expected in February, official data showed Wednesday, fuelling speculation that the Bank of England will start cutting interest rates in the coming months.

Apple CEO in China ahead of Shanghai store opening

Apple CEO Tim Cook was on a China charm offensive Wednesday ahead of a new flagship Shanghai store opening, weeks after a report suggested the company's sales in the country slumped at the start of 2024.

Sawt Falasteen - Economy (English)