Sawt Falasteen - Economy

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Featured

Nvidia boss criticises 'cheap' AI doomsday warnings

AI chip giant Nvidia's boss Jensen Huang said on Thursday that warnings artificial intelligence could wipe out humanity were "cheap" attempts to grab headlines.

Stocks retreat as tech mood sours, oil prices jump

Equities sank Thursday as tech firms resumed their downward spiral following a mixed bag of earnings from Wall Street titans, while sentiment was also soured by rising oil prices.

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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.

US stocks extend rally as bank earnings top estimates

Global stocks mostly rose Tuesday, with the Dow index in New York lodging its seventh straight gain, as solid banking earnings helped extend a market rally.

Kering shakes up underperforming Gucci

Kering announced Tuesday the departure of the long-time chief executive of Gucci, the luxury group's main brand which has struggled as the industry has flourished.

Spain hits Apple, Amazon with 194-mn-euro antitrust fine

Spain's competition watchdog said Tuesday it has slapped US tech giants Amazon and Apple with fines totalling 194 million euros ($218 million) for collusion in the sale of products.

Stocks advance as investors track US data, earnings results

European and US stock markets mostly pushed higher on Tuesday as investors digested data showing a mixed picture for the US economy and a fresh round of corporate results.

Dutch e-bike firm VanMoof declared bankrupt

Dutch electric bicycle maker VanMoof has been declared bankrupt, prompting the company to cease sales on Tuesday and angering customers who sought to file charges over the shop's failure to return broken bikes.

Stocks wobble as investors track US data, earnings results

Stock markets wavered on Tuesday as investors digested data showing a mixed picture for the US economy and a fresh round of corporate results.

Germany behind schedule on wind energy rollout: study

Germany has made strides in expanding its onshore wind power capabilities this year but needs to pick up the pace to meet key targets for the decade, a sector study said Tuesday.

US retail sales weaker than expected in June

Retail sales in the United States came in weaker than expected in June, the government reported Tuesday, with consumption remaining sluggish while inflation eases.

Novartis upgrades outlook despite US legal setback

Swiss pharmaceutical giant Novartis raised its earnings guidance for the second time this year on Tuesday despite a legal setback in the United States and announced it will spin off its generics unit later this year.

Markets on edge over China economy woes

Europe's stock markets wavered Tuesday after Asian losses, with investors remaining on edge over China's weaker-than-expected economy.

McDonald's UK apologises after racism, sexual misconduct report

The head of McDonald's in the UK apologised after the BBC on Tuesday reported allegations of sexual misconduct, racism and bullying by staff at the fast-food giant.

Markets drop as China growth worries offset Fed rate hopes

Most Asian markets sank Tuesday as further weakness in China's economy fuelled worries about the effects on global growth, overshadowing optimism that the United States is winning its battle against inflation and could avoid a recession.

Indian tycoon Adani slams 'malicious' Hindenburg report

Indian tycoon Gautam Adani on Tuesday denounced fraud accusations against his group by a US investment firm as a "deliberate attempt" to damage its image, at the first annual general meeting since the scandal.

Sawt Falasteen - Economy (English)