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.

Last news

Qantas loses court fight over Covid lockdown layoffs

Qantas illegally sacked 1,700 ground staff during Covid-19 lockdowns, Australia's High Court ruled Wednesday, dismissing an appeal by the airline and opening up the prospect of hefty compensation.

High costs push home ownership out of reach of younger Americans

When Jennie Luhmann started searching for her family's "forever home," she found herself in a perfect storm -- few properties were available, buyers were making all-cash offers and interest rates were climbing.

French master jeweler's art on display in New York

Miniature lamps encrusted with diamonds and rubies; animals and plants carved out of gold and emerald: reclusive French master jeweler Andre Chervin, who has supplied the world's most elite brands, is finally putting his own art on display in New York.

BP chief Bernard Looney resigns over transparency issues

British energy giant BP said Tuesday that its chief executive Bernard Looney has resigned "with immediate effect", after admitting he had not been "fully transparent" about historical relationships with colleagues.

BP chief Bernard Looney resigns 'with immediate effect'

British energy giant BP said Tuesday that its chief executive Bernard Looney has resigned "with immediate effect", after admitting that he had not been "fully transparent" about historical relationships with colleagues.

US says Google pays $10 billion a year to dominate search

The US government on Tuesday accused Google of paying out $10 billion a year to Apple and other firms in order to safeguard its monopoly over online search.

US household incomes fall for third straight year: Census Bureau

US inflation-adjusted incomes fell for a third straight year in 2022, but overall income inequality decreased, according to new Census Bureau data.

Meat, milk alternatives could slash food system emissions a third: study

Replacing half of the pork, chicken, beef and milk products we consume with plant-based alternatives could reduce global greenhouse gas emissions from agriculture and related land use by nearly a third, and virtually halt forest loss, according to research published on Tuesday.

Stocks struggle ahead of key US inflation data

US and European stock markets mostly fell Tuesday on the eve of key US inflation data and amid lingering concerns about weakness in China's economy.

From chargers to children's data: how the EU reined in big tech

When Apple unveils its latest iPhone on Tuesday, the European Union will have left its mark on the US giant's flagship product.

Stocks diverge, dollar up on eve of key US inflation data

Stock markets traded mixed Tuesday on the eve of key US inflation data and amid lingering concerns about weakness in China's economy.

Bound by EU, new iPhone expected to adopt USB-C charger

Apple on Tuesday is expected to freshen its iPhone lineup, improving performance and switching to a universal charger set to become mandatory in Europe next year.

US signs off on transfer of funds to Iran in prisoner deal

The United States confirmed Monday it had signed off on the transfer of $6 billion in frozen Iranian funds from South Korea, paving the way for five US citizens to leave Tehran.

SoftBank supremo eyes rare success with Arm IPO

Masayoshi Son's once-exalted reputation as an investor is badly tarnished, but the irrepressible founder of Japan's SoftBank is hoping that the mega-IPO of Arm this week might bring back the good times.

Most Asian markets drop as uneasy traders await key data

Asian markets struggled Tuesday to extend a Wall Street and European rally as traders nervously await US inflation data, while lingering concerns about China's economy remain a millstone.

Alexander McQueen designer Sarah Burton quits after two decades

British fashion house Alexander McQueen is losing its artistic director Sarah Burton who has been in charge for more than 20 years, parent company Kering announced on Monday.

Over 10,000 more jobs to go at UK's Wilko after partial rescue fails

More than 10,000 staff will lose their jobs at struggling UK household goods retailer Wilko, administrators said Monday, after last-ditch talks on a rescue deal with the owner of the HMV music store chain collapsed.

Work starts on key German wind power energy line

Construction work has started on the long-delayed 700-kilometre (430-mile) power line that will transfer wind-generated electricity from northern to southern Germany, the economy ministry said Monday, pushed by an energy crisis.

Stock markets rise as US inflation data, ECB rate loom

Stock markets rose on Monday at the start of a busy week that includes key US inflation data and a European Central Bank decision on interest rates.

Job fears at UK retailer Wilko after partial rescue deal fails

Thousands of job losses at struggling UK household goods retailer Wilko are looking increasingly likely after the owner of the HMV music store chain said Monday that talks for a last-ditch rescue deal had collapsed.

EU cuts eurozone 2023 growth forecast, sees German recession

The European Commission cut its 2023 and 2024 eurozone economic growth forecasts on Monday, with the single currency area weighed down by Germany's poor performance.

HMV owner's bid for UK retailer Wilko falls through

A last-ditch bid to save thousands of jobs at struggling UK household goods retailer Wilko has collapsed, the owner of the HMV music store chain said on Monday.

History on tap: Brussels serves beer museum to thirsty visitors

Sightseers who flocked to a grand reopening of the refurbished Brussels stock exchange building this weekend were invited to chase the visit down with a side order of Belgium's top tipple -- beer.

Savoy dynasty daily life on display with Geneva auction

Porcelain figurines, a white faux-leather sofa and a foosball table: these are among the items in a House of Savoy auction, providing a rare glimpse into the everyday life of royals.

China says to curb 'disruption' in currency market

China's central bank said on Monday it would crack down on speculation that distorts the value of the yuan as the country's currency sees persistent volatility.

Biden leads US tech execs in Vietnam talks

US President Joe Biden and senior executives from top American tech firms including Google and Intel will meet Vietnamese business leaders Monday after the two countries agreed to deepen cooperation in the face of shared concerns about China.

Macron in Bangladesh to 'consolidate' France's Indo-Pacific push

President Emmanuel Macron was in Bangladesh on Monday in a bid to "consolidate" France's Indo-Pacific strategy and counterbalance a "new imperialism" in a region where China's influence is increasingly being extended.

Alibaba announces surprise departure of ex-CEO

Chinese e-commerce giant Alibaba has announced the surprise departure of former CEO Daniel Zhang, who had been set Monday to take charge of a key subsidiary as the firm undergoes a major restructuring.

Support slumps for Australian Indigenous rights referendum

Australia's historic Indigenous rights referendum is haemorrhaging support, with a barrage of damning new polls showing only a minority in favour of the October vote.

Pause or hike? ECB rate decision on a knife edge

The European Central Bank is walking a tightrope between still-high inflation and a darkening eurozone outlook as it decides whether to lift interest rates again or finally pause its historic hiking cycle.

The worst market crashes

Fifteen years ago, on September 15, 2008, the Lehman Brothers investment bank went bankrupt, a victim of the global financial crisis during which stock markets crashed.

Strike worries overshadow Detroit Auto Show

This week's Detroit Auto Show is meant to showcase impressive new electric vehicles, but the fanfare looks destined to be upstaged by a brewing labor dispute and the increasing likelihood of a strike.

Sawt Falasteen - Economy (English)