Sawt Falasteen - Economy

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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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Shares in Chinese property giant Country Garden down sharply

Shares in Chinese property giant Country Garden plunged on Monday after it missed bond payments and warned of multibillion-dollar losses, deepening concerns over the nation's heavily indebted real estate sector.

Asian markets fall on China property woes

Asian markets posted sharp losses in early Monday trade, after falls in US tech stocks and as concerns over China's property sector weigh on sentiment.

Argentines head to polls in wide open presidential primary

Argentines headed to the polls Sunday in a primary election to determine the candidates for October's presidential vote, amid an economic crisis that has fueled skepticism among some toward traditional politicians.

'Barbie' retains top spot at N.American box office for fourth week

Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates showed Sunday, as director Greta Gerwig continues to bust industry records.

Father of Colombian children rescued in jungle charged with sexual abuse

The father of two of the four Indigenous children who survived for 40 days in the Amazon has been charged with sexually abusing his stepdaughter, Colombian prosecutors announced.

Migrants on France's Channel coast undeterred by latest deaths

"Crossing the Channel, it's playing with our lives," Hajji Mahmud acknowledged.

Pratt & Whitney engine issue adds to airline challenges

Commercial airlines have faced a tricky balancing act this summer, ramping up service to meet torrid travel demand in a period of labor shortages and supply chain constraints.

MrBeast, the YouTuber who bit more burger than he could chew

It's September 4, 2022, and around 10,000 people are shouting "Beast, Beast, Beast" in a shopping mall in New Jersey: YouTuber MrBeast is on his way to launch his first burger restaurant, and the crowd is hysterical.

Rise of the machines: AI spells danger for Hollywood stunt workers

Hollywood's striking actors fear that artificial intelligence is coming for their jobs -- but for many stunt performers, that dystopian danger is already a reality.

FTX founder Sam Bankman-Fried jailed after bail revoked

A US federal judge on Friday ordered FTX founder Sam Bankman-Fried back to prison after prosecutors argued he had violated the conditions of his bail and tampered with witnesses, less than two months before his trial.

Yellen sees 'resilience' in US economy even as it cools

US economic growth and wage gains should "serve as a source of resilience" moving forward even if the economy continues to cool, Treasury Secretary Janet Yellen said in remarks released Friday.

Stock markets waver after US wholesale inflation data

Stock markets wavered Friday after data showed a bigger-than-expected rise in US wholesale inflation and traders weigh the likelihood of more interest-rate hikes this year.

UK accuses striking doctors of harming patients

Hospital doctors in England on Friday launched their latest walkout as the government said their strike to demand a 35-percent pay increase served "only to harm patients".

Malaysia festival nixed over gay kiss seeks $2.7mn from British band

The organiser of a Malaysian festival cancelled after a kiss between two male members of The 1975 is seeking $2.7 million in damages from the British indie-rock band, its lawyer said Friday.

Markets drop again as US inflation fails to soothe rate fears

Equity markets mostly fell Friday as a below-forecast US inflation reading boosted hopes the Federal Reserve will hold interest rates next month but did little to dispel fears it could hike later in the year.

Markets struggle again as US inflation fails to sooth rate worries

Asian markets mostly fell Friday as a below-forecast US inflation reading boosted hopes the Federal Reserve will hold interest rates next month but did little to dispel fears it could hike later in the year.

US high court accepts challenge to $6bn Purdue opioid settlement

The US Supreme Court threw Purdue Pharma's $6 billion opioids settlement into question Thursday, accepting a challenge to the deal's immunizing the Sackler family, which controlled the drugmaker, from future litigation.

X chief Yaccarino claims renamed Twitter 'close' to break-even

Linda Yaccarino, CEO of social media platform X, said Thursday that the company formerly known as Twitter is "close" to breaking even and is hiring to beef up a staff slashed by owner Elon Musk.

Briton among five dead in Cape Town strike violence: police

Violence in Cape Town appeared to have eased after a week-long minibus taxi strike that paralysed the city and left five dead including a British tourist, police confirmed Thursday.

Lufthansa pilots receive pay hikes to fight inflation

Lufthansa pilots are to receive pay rises totalling 18 percent in the coming years, with the German airline saying Thursday it would bring "stability" after strikes over surging inflation.

Global stocks rise as US inflation inches up

Stock markets rose Thursday as highly anticipated data showed that US consumer inflation inched up last month but held at a moderate level.

Coach owner to acquire Michael Kors, Versace parent in $8.5bn deal

Tapestry, the US owner of lifestyle brands including Coach and Kate Spade, said Thursday it will acquire Michael Kors parent company Capri for $8.5 billion, creating a new global fashion giant to compete with European powerhouses.

US consumer inflation edges up in July

US consumer inflation inched up in July, government data showed Thursday, rebounding slightly for the first time in around a year and adding pressure on policymakers as they weigh further interest rate hikes.

UK retailer Wilko collapses, risking 12,500 jobs

British household goods company Wilko has collapsed owing to big debts, its boss announced Thursday, impacting about 12,500 jobs as high inflation and interest rates hurt consumers and businesses.

One giant step: Moon race hots up

Russia's plan to launch its lunar lander on Friday is the latest in an international push to return to the Moon that includes the world's top powers but also new players.

Nervous investors trade cautiously before US inflation report

Stock markets and the dollar wavered Thursday before much-anticipated US inflation data, which comes against a backdrop of renewed concerns that the Federal Reserve could announce another interest rate hike before the end of the year.

Nervous investors trade cautiously ahead of US inflation report

Stocks mostly fell Thursday ahead of much-anticipated US inflation data, which comes against a backdrop of renewed concerns that the Federal Reserve could announce another interest rate hike before the end of the year.

Inner city delivery hubs raise child health fears after UK court battle

From the third-floor window of a London primary school, parent Sarah Slotover stares out over the industrial site at the centre of a "David and Goliath" battle between online supermarket Ocado and the community.

Asian markets follow Wall St lower ahead of US inflation report

Stocks fell Thursday ahead of much-anticipated US inflation data, which comes against a backdrop of renewed concerns that the Federal Reserve could announce another interest rate hike before the end of the year.

Oil prices rise to multi-month highs; mixed day for global stocks

Oil prices rose to a multi-month peak Wednesday in the wake of OPEC supply cuts while global stocks were mixed following disappointing China data.

Uganda leader accuses World Bank of coercion after loan freeze

Uganda's President Yoweri Museveni on Wednesday accused the World Bank of using money to try to "coerce" the government over its controversial anti-gay legislation.

US announces curbs on outbound investments to China

The United States on Wednesday announced steps to restrict certain US investments in China, targeting high-tech sectors like semiconductors and artificial intelligence -- a move that could further strain bilateral ties.

Sawt Falasteen - Economy (English)