Sawt Falasteen - Economy

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Featured

US, Canada fail to reach trade pact to avert Trump tariffs

Hefty US tariffs on some Canadian products took effect on Saturday after days of negotiations that went down to the wire failed to produce an agreement.

Arctic shipping a daunting prospect in hotly contested region

With Gulf turmoil slashing Suez Canal traffic, shipping firms are tempted to try the Arctic for quicker trips between Europe and Asia -- but commercial prospects are unlikely to match countries' strategic ambitions for the North Pole.

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Asian markets rose as US inflation soothes rate fears for now

A mixed US inflation report boosted Asian markets Thursday as it soothed fears of a possible Federal Reserve interest rate hike next week, though the still hot reading left open the possibility of one more before year's end.

Outback Aboriginal town 'forgotten' in Australia's rights vote

Indigenous inhabitants of a small, dusty outback town in remote northern Australia hold out little hope that a historic October 14 referendum on Aboriginal rights will help their "forgotten" community.

'Huge' overfishing problem shows need to ratify ocean treaty: Greenpeace

Overfishing in international waters has surged in the past five years and demonstrates the need to ratify a recent global treaty to protect the high seas, a Greenpeace report said Wednesday.

US auto union chief says 'preparing to strike' as talks deadlock

The head of the US auto workers union announced Wednesday plans to strike against the three major Detroit automakers, saying the two sides remain far from a new agreement.

Former Starbucks CEO Schultz steps down from board

Starbucks said Wednesday its former chief executive Howard Schultz will step down from the coffee chain's board of directors "as part of a planned transition."

Picasso masterpiece to fetch $120 mn in November auction: Sotheby's

The November auction of a Pablo Picasso masterpiece, the late Spanish painter's "Femme a la montre" from 1932, is expected to fetch at least $120 million, Sotheby's announced Wednesday.

Argentina monthly inflation highest in three decades

Argentina recorded an inflation rate of 12.4 percent in August, the highest monthly change in over three decades in a country dogged by chronic economic instability, its statistics agency said Wednesday.

Argentina monthly inflation highest in two decades

Argentina recorded an inflation rate of 12.4 percent in August, the highest monthly change in over two decades in a country dogged by chronic economic instability, its statistics agency said Wednesday.

Parents of US reporter held in Russia seek help at UN

The parents of US reporter Evan Gershkovich said Wednesday they want world leaders due to gather at the United Nations next week to join in pressing for his release from prison in Russia.

Argentina dismantles prolific Nazi printing press

Argentine police have seized more than 200 Nazi publications and book covers and arrested the owner of a printing press run out of a home in suburban Buenos Aires, authorities said Wednesday.

South African township resists police over illegal power cables

A woman in a black and white dress struggled, pulling fiercely on a long electrical cable as she tried to stop the police in anti-riot gear from carrying it away.

European bumblebee populations projected to plummet

Populations of European bumblebees are projected to fall drastically in the coming decades due to climate change and habitat loss, researchers warned on Wednesday.

BP shares sink after CEO quits over relationships

Shares in British energy major BP sank Wednesday after chief executive Bernard Looney resigned unexpectedly over his failure to disclose past relationships with colleagues.

Panama seeks new sources of water for canal

Panama is looking into new sources of water for the Panama Canal, which moves six percent of global maritime trade but recently had to restrict traffic due to drought, its operator said.

Musk, Zuckerberg visit US congress to discuss AI

Big tech bigwigs including Elon Musk and Mark Zuckerberg traveled to Capitol Hill on Wednesday to share their plans for artificial intelligence as the US prepares to draw up legislation to better control the technology.

North Korean shells could keep Russian guns firing

North Korea's suspected plans to supply Russia with ammunition could allow Moscow to keep up its war effort in Ukraine but would fall short of a solid strategic alliance, experts say.

Oil prices fuel US inflation but stocks resist

US stocks edged higher Wednesday despite data showing rising oil prices pushed US inflation to its largest monthly gain in over a year in August as investors see the Federal Reserve likely to hold interest rates steady.

UN rights chief slams Musk 'trolling campaign' against anti-defamation group

The UN rights chief decried Wednesday an online "trolling campaign" against a leading anti-defamation group, urging online platforms like X, formerly Twitter, to do more to battle hate speech.

US consumer inflation ticks up in August on gasoline prices

Consumer inflation in the United States picked up in August for a second straight month, according to government data released Wednesday, putting the heat on policymakers as they work to lower prices.

BP shares drop after CEO quits over relationships

Shares in British energy major BP dropped Wednesday after chief executive Bernard Looney resigned unexpectedly over his failure to disclose past relationships with colleagues.

Von der Leyen vows 'fair' green deal for EU farms and industry

EU chief Ursula von der Leyen promised on Wednesday that Europe's green energy transition would be "fair and just" for farmers and businesses fearful of new regulations and unfair foreign competition.

With a Barbie boost, Birkenstock to step onto stock market

When actress Margot Robbie swapped high heels for pink Birkenstocks in hit summer movie "Barbie", it illustrated how the sandals have transformed from unglamorous, practical footwear to a highly-coveted fashion item.

Verdict nears in trial of Turkish anti-femicide group

Turkey on Wednesday resumed the trail of an anti-femicide campaign group that prosecutors are trying to shut down on charges of violating administrative laws and "morality".

Saudi, Russian oil cuts to cause big supply shortfall: IEA

Oil cuts by Saudi Arabia and Russia will cause a "significant" global supply shortfall through the end of the year, raising the risk of further market volatility, the International Energy Agency said Wednesday.

EU to probe China electric car subsidies

Brussels will investigate Chinese state subsidies for electric cars, EU chief Ursula von der Leyen said Wednesday, vowing to defend Europe's industry against "artificially low prices".

Heat brings hope for Tokyo's handmade umbrella maker

One of Tokyo's last handmade umbrella shops has weathered many storms and is now thriving thanks to booming demand for parasols as Japanese summers get hotter, including increasingly from men.

Auto Show opens as Detroit weighs possible strike

The Detroit Auto Show, normally a cheery showcase of latest models from the three legacy US car giants, is taking second fiddle this year to a looming auto workers' strike and its mounting odds.

As climate catastrophes rise, reinsurers reduce risks

Natural disasters are now happening so frequently that reinsurers -- the firms that sell insurance to insurance companies -- are scaling back their exposure to such risks.

UBS's Credit Suisse takeover, 'deal of the century'?

Did banking giant UBS make "the deal of the century" when it bought one of the world's biggest banks for a pittance as it teetered on the edge of the abyss?

Economy and management blamed for demise of UK retailer Wilko

The imminent demise of household goods seller Wilko highlights the challenges UK retailers currently face amid decades-high inflation and anaemic economic growth, but experts argue it also stems from bad management.

Asian markets swing as crude spike stokes inflation concerns

Equities fluctuated Wednesday ahead of a crunch US inflation report, with investors increasingly nervous that a recent spike in oil will put fresh upward pressure on consumer prices and force the Federal Reserve to lift interest rates again.

Ford CEO: 'Still optimistic' but ready in case of auto strike

Ford's CEO said Tuesday night that he was still optimistic of averting a looming strike, but that "there is a limit" to what the company can accept.

Sawt Falasteen - Economy (English)