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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Brazil's Embraer to build flying taxis in Sao Paulo

Brazilian aeronautics company Embraer and its urban mobility subsidiary Eve said Thursday they would build a factory near Sao Paulo to manufacture electric flying taxis that could take off as soon as 2026.

Uncertain outlook weighs on American Airlines shares despite blowout Q2

American Airlines reported blowout second-quarter earnings on Thursday on strong demand and lower jet fuel prices, but shares still tumbled on disappointment with the company's outlook.

Brazil's Embraer to start building flying taxis

Brazilian aeronautics company Embraer and its urban mobility subsidiary Eve said Thursday they would build a factory near Sao Paolo to manufacture flying taxis that could take off as soon as 2026.

After Hollywood strike, Broadway staves off industrial action

A tentative agreement was reached in New York Thursday to avert a strike that threatened to shut most Broadway shows, as Hollywood remains on hold over historic industrial action.

Biden promises 'American dream' in shipyard speech on economy

President Joe Biden on Thursday visited a shipyard symbolizing the industrial boom he hopes will put wind in his re-election campaign's sails, even if polls show most Americans cool on him continuing as their economic captain.

Amazon expands pay-by-palm service in US grocery stores

Customers shopping at Amazon's US-based Whole Foods grocery stores will be able to pay for items by hovering their palm over a scanner, much like shoppers already do with smartphones or credit cards.

Under Texas abortion ban, a mother watches her baby die

A scan revealed that Samantha Casiano's unborn child had serious health detects and would not survive outside the womb for more than a few hours.

Russian bombs target frontline Ukraine chemical plant

The Russian high-explosive bombs started falling around the frontline Ukrainian chemical plant about three months ago.

Stock markets mixed as corporate results flood in

Wall Street indices wavered on Thursday as investors tracked a slew of corporate earnings including disappointing results for Tesla and Netflix.

'No way out': Ukraine farmers lament collapse of grain deal

Vitaliy Bylenko looked ruefully at the mountains of grain in his barn, contemplating the growing obstacles to shifting the stockpiles after Russia this week exited a deal allowing Black Sea exports.

Stock markets mixed as rate hopes play against China fears

Stock markets traded mixed Thursday as hopes that central banks are close to ending their interest rate hikes were offset by worries about a lack of action by Chinese leaders to kickstart the country's stuttering economy.

Chip giant AMD says AI to be 'mega-trend' for computing world

AI will be the "defining mega-trend" for the global computing industry, the head of chip giant AMD said Thursday in Taiwan, where the majority of the world's semiconductors powering the technology is produced.

EasyJet says to land record profits despite disruption

British airline EasyJet on Thursday said it expected record pre-tax profits during the current peak summer season despite strike action by air traffic controllers and other disruptions.

Markets mixed as rate hopes play against China fears

Markets were mixed Thursday as hopes that central banks are close to ending their interest rate hikes were offset by worries about a lack of action by Chinese leaders to kickstart the country's stuttering economy.

Deals on wheels: Housing prices drive young Chinese into RV living

With its open kitchen, bathtub and electric piano, Chinese e-commerce worker Twiggy He's home is the envy of her colleagues -- even if it is located in their office carpark.

Chinese ghost town of mansions reclaimed by farmers

Cattle wander between the concrete shells of half-finished mansions in northeastern China, some of the only occupants of a luxury complex whose crumbling verandas and overgrown arches are stark symbols of a housing market crippled by its own excess.

Young homebuyers take refuge in China's rust-belt towns

Fontana Fang has dived into China's cutthroat real estate market and emerged victorious, shaking off soaring prices to snap up a handsome property for next to nothing -- a distant dream for many.

Chinese mortgage strikers despair as unfinished homes stay stalled

Gao Zhuang says he has refused to pay his mortgage for months, a desperate protest against the Chinese property developer he blames for endless delays on the unfinished apartment he bought years ago for his son.

Markets mostly rise on rate hopes but China fears weigh

Markets mostly rose Thursday on signs that more than a year of interest rate hikes around the world was subduing inflation, giving central banks room to take a softer approach to monetary policy.

Gullah Geechee, descendants of enslaved, fight to protect US island

Ed Atkins holds a basket filled with small, wriggling shrimp, fresh examples of the catch that the African-American fisherman has drawn from the waters off South Carolina's Saint Helena Island for more than 60 years.

United Airlines triples Q2 profits on strong demand

United Airlines reported on Wednesday that second-quarter profits more than tripled, benefitting from robust travel demand and a surge in international capacity.

Tesla earnings rise to $2.7 bn on increased sales, lower prices

Tesla reported a jump in second-quarter profits Wednesday as a series of price cuts translated into sharply higher car sales.

Two killed, hundreds arrested in Kenya protests

Two people were killed on Wednesday following anti-government protests in Kenya, a hospital official said, as the interior ministry announced the arrest of over 300 others in connection with the demonstrations.

After dismal Q2, Goldman Sachs hopeful for rebound in merger activity

Goldman Sachs reported a dive in profits Wednesday on weak merger and acquisition activity, but shares rallied as executives said an improvement could be near.

Tata picks Britain for £4-bn electric car battery plant

Indian conglomerate Tata Group announced Wednesday that it will build a gigafactory in Britain to manufacture batteries, as nations accelerate away from fossil fuel vehicles.

Stock markets rise as US rate hike fears ease, UK inflation slows

Stock markets mostly rose Wednesday as UK inflation slowed more than expected in June and investors grew increasingly optimistic that the US Federal Reserve would soon end its interest-rate hiking cycle.

Goldman Sachs reports 62% drop in Q2 profits on low merger activity

Goldman Sachs reported a steep drop in second-quarter profits Wednesday as it continued to struggle with an anemic merger and acquisition market and weakness in trading.

Stock markets mostly rise as rate hike worries ease

Stock markets mostly rose Wednesday as investors grew increasingly optimistic that the US Federal Reserve would soon end its interest-rate hiking cycle as inflation cools.

Steep drop puts S.Africa inflation back within target range

South African inflation dropped to the lowest level in 20 months in June, slipping back within the central bank's target range, official data showed Wednesday.

Tata to build £4 bn electric car battery factory in UK

Indian conglomerate Tata Group announced plans Wednesday to build a £4 billion ($5.2 billion) electric car battery factory in Britain to supply its Jaguar Land Rover brands, bolstering the country's efforts to phase out fossil fuel vehicles.

UK annual inflation drops under eight percent

Britain's annual inflation rate slowed more than expected in June as it dropped below eight percent, official data showed Wednesday, easing the country's cost-of-living crisis.

Most markets track Wall St rally but China weighs on optimism

Asian markets mostly rose Wednesday following a Wall Street rally as investors grow increasingly optimistic that the Federal Reserve will soon end its interest rate hiking cycle and the US economy will avoid a feared recession.

Sawt Falasteen - Economy (English)