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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Romania Black Sea port braces for more Ukrainian grain

At the deepest berth of the Black Sea in the Romanian port of Constanta, the belly of a massive cargo ship bound for Belgium is fed tonnes of rapeseed through a huge steel hose as more vessels queue up.

Action demanded as rough sleeping numbers surge in London

An increasing number of people are sleeping rough on the streets of London with campaigners calling on the British government to tackle the "root causes" of the problem.

Stock markets slide after US downgrade

Asian and European stock markets slumped Wednesday after the United States had its top credit rating downgraded by Fitch.

Markets drop as US downgrade jolts latest rally

Asian and European markets followed Wall Street lower Wednesday as the wind came out of the latest rally, with traders jolted by the downgrade of US sovereign debt, soft economic data and concerns about elevated valuations.

Less power, lower emissions: improving AC technology

With air conditioner demand surging, scientists are looking for ways to improve the energy efficiency of cooling systems and limit damaging emissions that accelerate global warming.

Asian markets drop as US downgrade jolts latest rally

Asian markets followed Wall Street lower Wednesday as the wind came out of the latest rally, with traders jolted by the downgrade of US sovereign debt, soft economic data and concerns about elevated valuations.

Tunisia president dismisses PM as country faces 'colossal challenges'

Tunisian President Kais Saied sacked Prime Minister Najla Bouden without explanation Tuesday night and replaced her with former central bank executive Ahmed Hachani, whom he tasked with overcoming the "colossal challenges" facing the cash-strapped North African country.

Fitch downgrades US credit rating after debt limit standoffs

Fitch downgraded the United States' top-tier credit rating by a step on Tuesday, citing a growing federal debt burden and an "erosion of governance" that has manifested in debt limit standoffs.

AI could halve time reading breast cancer scans, study suggests

Artificial intelligence could help almost halve the workload of radiologists when it comes to searching routine scans for signs of breast cancer, a large Swedish study suggested on Wednesday.

US House panel probes BlackRock, MSCI on China investment flow

US lawmakers are probing American investment flows facilitated by BlackRock and MSCI to Chinese companies that Washington has sanctioned, a congressional panel announced Tuesday.

US family reaches deal over cells harvested in 1950s

A US biotechnology company has reached a settlement with the family of Henrietta Lacks, an African-American woman whose cells were used for groundbreaking medical research without her consent.

Birkenstock plans to step into stock market: reports

The owners of Birkenstock are planning an initial public offering as soon as September that could value the German sandal maker at more than $8 billion, reports said Tuesday.

Caterpillar results boosted by strong demand, pricing

Caterpillar reported strong second-quarter profits Tuesday behind robust demand for industrial equipment and an improving cost environment that boosted profit margins.

Meta to ask EU users' consent to share data for targeted ads

Social media giant Meta on Tuesday said it intends to ask EU-based users to give their consent before allowing targeted advertising on its networks including Facebook, bowing to pressure from European regulators.

Ukrainian grain lorries wait days to unload at Danube port

Anton Moiseyev sat for the third day in the cabin of his lorry, parked by a roadside cafe in Ukraine's southern Odesa region, in a bottleneck triggered by Russia's scrapping of a grain shipping deal.

Stock markets mostly drop, dollar firms

US and European stock markets mostly slid on Tuesday as investors reacted to macroeconomic data and corporate earnings, while the dollar firmed.

Uber reports surprise profit in Q2

Uber reported a surprise profit on Tuesday, pointing to strong growth in its core mobility and delivery businesses despite missing revenue estimates.

Niger coup raises questions about uranium dependence

The military coup in Niger last week raises the question of Europe's dependency on uranium mined in the West African nation for its nuclear power plants.

Oil majors still profitabe even if super-profits gone

From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in 2022 when prices surged in the wake of Russia's invasion of Ukraine, but they nevertheless remain comfortably profitable this year.

Iraq's Yazidis: reclusive group hunted by Islamic State

The Yazidis, who Britain on Tuesday officially acknowledged as victims of "acts of genocide" by the Islamic State (IS), are a Kurdish-speaking ethno-religious minority found mainly in Iraq.

Pfizer trims 2023 revenue outlook as profits tumble

Pfizer reported a steep drop in profits Tuesday on much lower Covid-related revenues as it curtailed its full-year sales outlook, in part due to tornado damage to a key manufacturing facility.

European stock markets drop, dollar firms

European stock markets retreated and the dollar firmed Tuesday, hit by weak manufacturing data across the region.

China imposes export curbs on critical metals, drones

Chinese controls on exports of two metals critical to making semiconductors came into force on Tuesday, a day after Beijing imposed curbs on the foreign sales of some drones.

Asian markets mixed as early momentum fades

Asian markets were mixed Tuesday as investors struggled to maintain early gains fanned by hopes the Federal Reserve's interest rate hike campaign has run its course.

HSBC reports bumper profits on rising interest rates

Banking giant HSBC said on Tuesday that pre-tax profit more than doubled to $21.7 billion in the first half of 2023, boosted by higher interest rates.

Greek islanders dismayed by plan to scale up fish farming

On the sunny quay of the picturesque Greek island of Poros, veteran fisherman Spiros Papaioannou makes no bones about imminent plans to expand fish farming.

Asian markets rise as positive mood flows across trading floors

Asian investors started August in the same way they ended July, with gains across markets that followed Wall Street's lead, fuelled by a general sense of optimism about the economic outlook.

Musk removes giant, flashing X sign after furore

The company formerly known as Twitter removed a towering, blinking X from atop its San Francisco headquarters Monday after the rebranded tech firm tangled with city officials over the controversial sign.

Equities edge higher as inflation moderates

Global stocks mostly pushed higher on Monday as investors remained optimistic interest rates won't go higher and China made moves to boost lacklustre growth.

Heineken profits slide as beer price hikes curb enthusiasm

Dutch brewer Heineken on Monday lowered its earnings outlook for the full year after price hikes to counter soaring costs battered beer sales, pushing down profits in the first half.

China announces consumption-boosting measures as data disappoints

Chinese authorities announced new measures to boost consumption on Monday, as fresh economic data suggested that the country's post-Covid recovery is running out of steam and growth is slowing.

European stocks edge higher after eurozone inflation eases

European stock markets were mostly higher on Monday as traders hoped for a pause in interest rate hikes by the European Central Bank after a further decline in eurozone inflation.

Sawt Falasteen - Economy (English)