Sawt Falasteen - Economy

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France's Macron lands in Riyadh on surprise 'solidarity' visit

French President Emmanuel Macron landed in Riyadh in a surprise "solidarity" visit, making him the first Western leader to touch down in the kingdom since Yemen's Iran-backed Houthis intensified their attacks this month.

South Africa eases fuel pain as growth slows

South Africa announced fresh fuel-relief measures on Wednesday to cushion motorists and commuters battered by record pump prices as uncertainty roils global energy markets.

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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.

Cubans wary of banks as government cracks down on cash

Accustomed to lugging around thick wads of cash, Cubans are skeptical of government efforts to force them to deposit their money into a crumbling banking system, in an effort to curb runaway inflation and boost liquidity.

White House offers prize money for hacker-thwarting AI

The White House on Wednesday launched a competition offering millions of dollars in prize money for creating new artificial intelligence systems that can defend critical software from hackers.

'No evidence' Facebook harms well-being: global study

There is "no evidence" that the growth in using Facebook led to "widespread psychological harm", the largest independent scientific study on the topic concluded Wednesday, contradicting previous analyses and widespread perceptions.

British artist behind iconic Sex Pistols record covers dies

UK artist Jamie Reid, whose distinctive designs for the covers of several Sex Pistols records made them instant art classics, has died at the age of 76, his gallerist said on Wednesday.

Eleven dead in France holiday home fire 'tragedy'

Eleven people were killed in eastern France on Wednesday when a fire tore through a holiday lodging being used by a group of adults with learning disabilities, officials said.

'Unsettled' Moscow residents tighten belts as ruble tanks

In central Moscow, retired businessman Igor Inkin is preparing to turn down simple pleasures like dessert as the value of the ruble in his pocket continues to slide.

AI bots need consent to use our material, say news groups

Artificial intelligence firms must ask for permission before using copyrighted text and images to generate content, a consortium of news groups said on Wednesday.

Stock markets waver after weak China data

Global stock markets were mixed Wednesday with Wall Street opening flat after European bourses rebounded with a mixed showing by Asia.

Ethiopia troops push back Amhara fighters: residents

Ethiopian troops appeared to be pushing back militia fighters in two cities in the conflict-hit Amhara region, residents said Wednesday, after local authorities reported that "relative peace" was being restored.

Kenya political rivals launch fresh talks after protests

Kenya's government and the opposition launched fresh talks Wednesday aimed at resolving a bitter political feud following a spate of violent protests over the high cost of living and calls for electoral reforms.

Nine bodies found in France holiday lodging fire 'tragedy'

Nine corpses were found Wednesday following a fire at a centre in eastern France where a group of adults with learning disabilities were taking their holidays.

European stocks rebound, Asia mixed after weak China data

European stock markets rebounded on Wednesday as bank shares recovered and after a mixed showing by Asia.

Springboks' success belies S.Africa's rugby inequality

On a parched pitch in an impoverished South African township, a group of young men do push-ups on the hard ground before kicking off a game of rugby.

Asian markets swing as China slips into deflation

Asian markets fluctuated Wednesday after data showing China slipped into deflation compounded worries about the world number two economy's faltering post-Covid recovery.

Sawt Falasteen - Economy (English)