Sawt Falasteen - Economy

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Featured

Many US Fed policymakers back interest rate hikes if inflation stays high

Many US Federal Reserve policymakers believe that interest rate hikes will be necessary if inflation does not decline, minutes of their July meeting showed on Wednesday, firming up expectations of monetary policy tightening on the horizon.

UK PM launches bid to help homeless, donating part of his wages

New UK Prime Minister Andy Burnham unveiled plans Wednesday to offer those sleeping rough a way off the streets by Christmas, and vowed to donate part of his wages to help curb homelessness.

Last news

Former McDonald's reopen in Kazakhstan without logo

Several restaurants that used to work under the McDonald's brand in Kazakhstan reopened on Wednesday without the chain's logo, weeks after the fast-food giant exited the country over supply problems.

Canada central bank raises key interest rate to 4.5%

Canada's central bank on Wednesday raised its key lending rate for the eighth time in less than a year, this time by 25 basis points to 4.5 percent, as it tries to tame inflation.

Venice recruits next generation in flooding fight

As rising waters fuel fears that Venice may one day be entirely submerged, local children are being educated on how to protect the lagoon, a fragile ecosystem threatened by climate change.

Stocks slip before economic updates

European and US stock markets slid on Wednesday as investors braced for key company earnings and economic growth data in the United States.

Thousands protest South Africa's energy crisis

Several thousands of people took to the streets in South Africa on Wednesday to protest a prolonged energy crisis that has resulted in crippling power cuts for the continent's most industrialised economy.

Boeing reports Q4 loss of $634 mn, reaffirms 2023 targets

Boeing reported a fourth-quarter loss of $634 million on Wednesday as elevated operating and supply chain costs offset a December uptick in commercial plane deliveries.

German economy to avoid recession in 2023, says Berlin

Germany is set to narrowly escape a recession this year, the government said Wednesday, as Europe's biggest economy weathers the fallout from the Ukraine war better than expected.

ChatGPT bot passes US law school exam

A chatbot powered by reams of data from the internet has passed exams at a US law school after writing essays on topics ranging from constitutional law to taxation and torts.

Adani stocks fall in India on fraud, stock manipulation claims

Asia's richest man Gautam Adani saw his net worth drop six billion dollars on Wednesday after a US investment firm accused him of "brazen stock manipulation and accounting fraud".

Hundreds protest S.Africa energy crisis

Hundreds of people took to the streets in Johannesburg on Wednesday to protest a prolonged energy crisis causing record power cuts in South Africa.

Microsoft scrambles to fix global outage

US tech giant Microsoft said on Wednesday it was working to fix a networking problem that had left users across the world struggling to access tools like Outlook and Teams.

EasyJet hikes profit forecast on demand boom

British airline EasyJet hiked Wednesday its annual profit guidance after record demand and falling quarterly losses, as customers prioritise holidays and shrug off the cost-of-living crisis.

Gold mines, trash and memories: Soweto's urban hikes

Soweto is full of gritty urban landscapes and alleys which evoke its history as one of apartheid's battlegrounds.

Coastal town of Half Moon Bay mourns mass slaying

A singing bowl held by a Buddhist monk was struck once for each of seven people shot dead in Half Moon Bay as residents gathered to grieve in a local church late Tuesday.

Shock turns to disbelief in mass shooting-hit Asian communities

When an Asian man sprayed bullets around a dance studio full of Asian revelers in California, it sent shockwaves through the community.

Eight missing after ship sinks between Japan, S. Korea

Japan and South Korea's coast guards were searching Wednesday for eight crew from a cargo ship that sank between the two countries, after 14 others were rescued.

Generation Z finding time for second-hand luxury watches

Swiss watches are in high demand these days, but sales of second-hand timepieces are also booming, driven by Generation Z buyers who want luxury goods but are also sustainability-minded.

Conflict-torn DR Congo gears up for papal visit

In DR Congo's bustling capital Kinshasa, the faithful are flocking to impromptu market stalls in churchyards to buy t-shirts and wax tissues adorned with the image of Pope Francis, ahead of the pontiff's visit.

Small businesses, big dreams: Iraq's women entrepreneurs

The sewing machines and fabric that surround Alaa Adel at her "Iraqcouture" studio in Baghdad are testament to her success in deeply patriarchal Iraq.

New US rape lawsuit filed against boxer Mike Tyson

A woman in New York state has filed a civil suit against Mike Tyson, accusing the former boxing champion of raping her in a limousine in the early 1990s, according to court filings.

Global stocks churn as earnings season heats up

European and US stocks seesawed on Tuesday as investors weighed the chances of a global recession this year and more companies report earnings.

'The 1619 Project' comes to TV with Oprah-produced docuseries

"The 1619 Project," which began as a New York Times essay series about the impact of slavery on United States history and became a lightning rod for intense political divisions, will launch a new television docuseries produced by Oprah Winfrey this Thursday.

'Brazil is back,' Lula hails at Latin America leaders summit

Brazilian President Luiz Inacio Lula da Silva declared Tuesday that his country is "back in the region" after joining more than a dozen other Latin American leaders at a summit in Buenos Aires.

Walmart lifts wages at US stores again amid tight labor market

Walmart announced Tuesday it will again raise pay for hourly staff, an indication of persistent tightness in the labor market for front-line employees despite layoffs in the tech sector.

Ticketmaster blames cyberattack for Taylor Swift tour debacle

US concert booking website Ticketmaster was hit by a cyberattack last year that led to it botching sales for Taylor Swift's US tour, it told lawmakers on Tuesday as it apologized to the pop superstar and her fans.

UK says 200 young unaccompanied asylum-seekers missing

Two hundred children who arrived in the UK seeking asylum without their parents in the last 18 months are missing, immigration minister Robert Jenrick said on Tuesday.

Twitter sued over 'unpaid rent' on London office

Twitter's British landlord said Tuesday it is taking the social media to court for not paying rent on its central London offices.

Hopes grow that eurozone will dodge recession

Europe's economy grew in January for the first time since June, a closely watched survey showed Tuesday, raising hopes that the eurozone will avoid a recession this winter.

Stocks mixed as traders balance recession risk, China reopening

Stock markets traded mixed Tuesday as investors weighed the chances of a global recession this year.

Cousin of Sicilian mob boss fights 'Mafia mentality'

As the son of a mafioso turned state witness and a cousin of captured Cosa Nostra boss Matteo Messina Denaro, Giuseppe Cimarosa has seen the Sicilian Mafia and its intimidation tactics up close.

Power returns to cities in Pakistan day after massive outage

Power had returned to most cities across Pakistan on Tuesday, a day after a nationwide breakdown left the country of 220 million people without electricity.

Asian markets track Wall St rally

Tokyo led gains across Asian markets again Tuesday in another day thinned by the Lunar New Year break, with sentiment boosted once more by a surge on Wall Street.

Sawt Falasteen - Economy (English)