Sawt Falasteen - Economy

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Featured

Musk backs SpaceX-Tesla merger as rocket firm turns profit

Elon Musk said Tuesday he would back a merger of SpaceX and Tesla, as his rocket and AI company reported its first quarterly profit since going public, driven by deals to rent out computing power to AI firms.

Musk says backs SpaceX-Tesla merger as rocket firm turns profit

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Writers' guild leaders to meet on Hollywood studio offer

Leaders of the Writers Guild of America will meet Tuesday to decide whether to accept a pay deal hammered out with studios, and could agree to halt a months-long strike that has paralyzed Hollywood.

Spain prosecutors say Shakira owes $7mn in tax

Colombian pop idol Shakira, who stands trial in Barcelona in November for tax fraud, is facing a fresh probe by prosecutors who claim she cheated Spain's tax office out of 6.6 million euros.

Biden makes history by joining striking US car workers

Joe Biden joined striking auto workers on the picket line in Michigan Tuesday in a historic first for a sitting US president, a day before rival Donald Trump makes his own bid for the blue collar vote in the battleground electoral state.

Days from shutdown, US budget talks threaten Ukraine aid

The US Congress was running out of time Tuesday to avoid a partial government shutdown forced by hard-right Republicans, throwing into doubt White House plans to provide another $24 billion in war aid for Ukraine.

Dior mocks sexist stereotypes at Paris Fashion Week

After scoring a PR coup by dressing Queen Camilla for the state dinner at Versailles earlier this month, Dior took aim at sexist stereotypes for its latest show in Paris on Tuesday.

Biden to join striking car workers in 'historic' move

US President Joe Biden began an unprecedented trip to join striking auto workers on the picket line in Michigan Tuesday, a day before rival Donald Trump makes his own bid for the blue collar vote in the battleground electoral state.

JPMorgan Chase to pay $75 mn to settle Epstein-linked sex trafficking suit jmb/st

JPMorgan Chase announced Tuesday that it will pay $75 million to settle a US Virgin Islands' (USVI) lawsuit that accused the bank of facilitating Jeffrey Epstein's sex trafficking ring.

Sick leave in UK hits 15-year high: study

Sick leave in the UK has hit its highest rate in 15 years and is well above pre-pandemic levels, a study showed Tuesday.

Need for critical metals poses dilemmas for investors

Soaring demand for the raw materials needed for the transition towards renewable energy is creating dilemmas for investors weighing the economic, environmental and human rights risks of such projects.

Axed: Rampant logging hits India's batmakers for six

When the Cricket World Cup opens in India next month several players will carry Kashmiri willow wood bats, but manufacturers say over-exploitation of trees means their craft faces ruin.

'Treated like slaves': Workers dying in ArcelorMittal's Kazakh mines

Standing in the vast windswept plains of the Kazakh steppe, miner Vladimir Khaniev stoically recalled the explosion that left him permanently disabled.

'Last hope': Desperate truckers in Germany stage hunger strike

Truck drivers who transport goods around Europe have staged a hunger strike in Germany as part of a weeks-long work stoppage, describing it as their "last hope" to draw attention to the exploitation they say they suffer.

Sudan's vital date industry struggles in war-decimated economy

The lush palm groves of Karima are a long way from Sudan's battlefields, but the war's effects are all too present, leaving farmers struggling to find buyers for this year's harvest.

Biden, Trump in dueling US auto strike trips

US President Joe Biden will join the picket line with striking auto workers on a historic trip to Michigan Tuesday, putting him on a collision course with likely 2024 election rival Donald Trump who visits a day later.

Maduro says ready to meet with Guyana leader on border dispute

Venezuelan President Nicolas Maduro called Monday for direct talks with his Guyanese counterpart to resolve mounting tensions between the two South American neighbors over a disputed border region rich in oil.

EU trade chief warns China data laws could have 'unintended consequences'

The EU trade commissioner warned Tuesday that Chinese regulations governing the transfer of data out of the country, including a revised anti-espionage law, could have "unintended consequences".

Ford pauses work on $3.5 bn battery plant

Ford is halting work on a major battery plant in the northern US state of Michigan, the automaker said Monday, just seven months after launching the project with a Chinese partner.

US stocks end losing streak as Europe, Asia fall

US stocks snapped a four-day losing streak to end higher Monday, while European and Asian markets fell on fresh concerns about the embattled Chinese property market.

Strike deal only first step in resolving film industry crisis

A tentative deal to end a long-running writers' strike that has paralyzed Hollywood is only a first step in resolving a film industry crisis, as an equally bitter studio stand-off with the actors' union stretches on.

Polish farmers warn of EU threat from Ukraine grain

At his family farm, Wieslaw Gryn voiced support for Poland's ban on Ukrainian grain imports, but said it had not reversed a price drop that threatens his livelihood and those of other European farmers.

Picasso masterpiece begins pre-auction tour in Dubai

A Pablo Picasso masterpiece expected to fetch at least $120 million at auction went on show Monday in Dubai, kicking off a set of rare viewings outside the United States.

Stock markets largely retreat, oil climbs

Stock markets mostly dropped Monday on the possibility of more hikes to US interest rates, with Federal Reserve officials struggling to contain inflation as oil prices march higher.

The humble sardine: a key ingredient of Portuguese life

The humble sardine, a feature of the street parties that pop up across Portugal in summer, makes up two thirds of the country's fish catch and has spawned an important canning industry.

Amazon steps up AI race with $4 bn Anthropic investment

Amazon said on Monday it would invest up to $4 billion in AI firm Anthropic, as the online retail giant steps into an AI race dominated by Microsoft, Google and OpenAI.

Scandal-hit UK business lobby wins funds to carry on

Britain's scandal-hit business lobby, the CBI, has received funds to remain operational following reports it was in grave financial trouble in the wake of sexual misconduct allegations.

'Humans of New York' creator slams Indian version for suing rival

The creator of "Humans of New York" has slammed an Indian version of the blog for suing a rival, accusing it of unreasonably monetising the stories of its subjects.

Germany's housing sector slumps into crisis

Valeriy Shevchenko felt like he made the purchase of his lifetime when he beat a queue of prospective buyers to secure a two-bedroom apartment in one of Berlin's most popular districts.

Evergrande shares sink after restructuring plan scrapped

Shares in embattled Chinese property developer Evergrande plummeted Monday, following the announcement that it would be unable to carry out a restructuring plan intended to guarantee its survival.

EU trade chief warns businesses questioning future in China

The EU's trade chief told Beijing on Monday that tough security laws and a more "politicised" business environment have left European companies struggling to understand their obligations and questioning their future in China.

'Three, two, one, nothing': fake fireworks fizzle, fuddle at Games

Fireworks at the climax are a highlight of any opening ceremony and they were too at the Asian Games in China, except for one thing -- they weren't real.

'Marking Time' exhibit takes on US mass incarceration

The image in the window announcing the Schomburg Center's current art exhibition holds a sad resonance to many who pass it in New York's Harlem neighborhood.

Time ticking on US deadline to avert shutdown

Four months after barely avoiding a catastrophic default, the world's largest economy is once again on the verge of a major fiscal crisis.

Sawt Falasteen - Economy (English)