Sawt Falasteen - Economy

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25,000 rally in Madrid demanding state pension guarantees

Authorities said 25,000 people marched through central Madrid on Saturday demanding protection for the Spanish state pension scheme, one of the hot topics in a parliamentary election next month.

Police fire tear gas as new French demonstrations kick off

French police started firing tear gas at protesters Saturday as they stepped up security in major cities aiming to prevent a repeat of rioting a week ago, on a day of fresh nationwide demonstrations over the high cost of living.

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Crypto market resilient after collapse of SVB bank

As the Federal Reserve seeks to calm financial markets following the collapse of Silicon Valley Bank, the cryptocurrency market is showing signs of resilience despite links to the crisis.

Novo Nordisk to cut US insulin prices by up to 75%

Novo Nordisk announced Tuesday that it will lower the US price of insulin by up to 75 percent, the latest move by a drugmaker to mitigate diabetes treatment costs.

US consumer inflation still elevated but Fed under stress

US consumer inflation edged down in February but remains elevated, according to government data released Tuesday, adding pressure to the Federal Reserve as it balances its inflation fight with financial stability concerns.

US banking crisis dogs markets

Stock markets sank further in Asia and faltered in Europe on Tuesday, with banks sliding again on contagion fear after the collapse of two regional US lenders.

Art auctions hit record in 2022 despite economic gloom

More than a million artworks were put up for auction for the first time in 2022 despite a gloomy global economy, according to a report released on Tuesday.

Embattled Credit Suisse admits 'material weaknesses'

Credit Suisse acknowledged Tuesday "material weaknesses" in its internal controls as the scandal-hit Swiss bank released its annual report, which was delayed following queries from US regulators regarding its books.

SVB collapse causes headaches for US Fed before rate decision

The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected.

Steam cuisine: cooking in Japan's hot springs

Using geothermal resources to generate electricity is a divisive prospect in Japan, but there is little disagreement about another use for it: natural steam for cooking.

Sky-high UK childcare costs hit women's careers

Increased childcare funding is expected to feature in the UK government's budget this week, in a bid to ease pressure on families and particularly women.

Asian markets sink as SVB contagion fears hit banking sector

Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.

Regret and blame in Silicon Valley after bank run

The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most.

California court upholds Uber drivers being contractors

A California appeals court on Monday upheld a state law letting Uber, Lyft and other app-based, on-demand companies treat drivers as independent contractors rather than employees.

China lifts sweeping visa curbs on foreigners

China will once again start issuing a range of visas to foreigners as of Wednesday, the country's embassy in Washington said, a major easing of travel restrictions in force since the outbreak of the Covid-19 pandemic.

Customers calm at under-pressure US banks

Customers of under-pressure US banks said Monday they were reassured after authorities stepped in to protect deposits, even as markets fretted about systemic contagion.

Biden reassures Wall Street but Europe slumps on bank worries

Wall Street stocks rose on Monday after US President Joe Biden sought to reassure that the US banking system is sound following the collapse of two lenders, but European stocks plunged.

Biden reassures Wall Street but European stocks slump

Wall Street stocks rose on Monday after US President Joe Biden sought to reassure that the US banking system is sound following the collapse of two lenders, but European stocks plunged.

Biden says US banking system 'safe' despite contagion fears

President Joe Biden sought to reassure Americans over the country's banking system Monday as more US banks came under stress and European stocks tumbled on contagion worries.

Porsche backs synthetic option in EU fossil fuels row

The CEO of German auto giant Volkswagen and its luxury subsidiary Porsche on Monday backed moves by Berlin to block a European ban on new combustion engines from 2035.

Pfizer buys biotech firm Seagen for $43 billion

US pharmaceutical giant Pfizer announced Monday that it had reached a deal to buy biotech firm Seagen, specializing in innovative cancer treatment, for $43 billion.

Biden to speak on SVB collapse, reassure world on US banking resilience

President Joe Biden was set to try and reassure the world of the resilience of the US banking system Monday, as US and European authorities scrambled to prevent any contagion from the abrupt failure of Silicon Valley Bank.

Kyiv condemns 'kidnappings' as Russians foster Ukrainian kids

At their home in the middle of Siberia, Russian pastor Roman Vinogradov and his wife Yekaterina are the new foster parents of five children from Moscow-occupied eastern Ukraine.

UN, Russia in Ukraine grain deal talks

The United Nations and Russia began talks Monday on renewing the Ukraine grain export deal, which has helped ease the global food crisis triggered by Moscow's invasion of its neighbour.

UAE's ADNOC Gas shares surge 19% in $2.5bn IPO

Shares in the United Arab Emirates' ADNOC Gas rose 19 percent in their first day of trading on Monday in a $2.5 billion initial public offering that aims to tap into growing demand for the fuel.

Bank jitters fuel uncertainty as ECB eyes next rate hike

The European Central Bank is poised to raise interest rates again on Thursday to tackle inflation, but the sudden collapse of a US lender has fuelled concern about the health of the banking system as borrowing costs climb higher.

European equities dive on fears of US banking crisis

European stocks tanked Monday as investors shrugged off global efforts to stem a fast-moving crisis emanating from the US banking sector.

BBC reaches deal with Gary Lineker after Twitter row

Gary Lineker will return as presenter of flagship BBC football show Match of the Day, the broadcaster said Monday, ending a crisis sparked by his criticism of the UK government's new asylum policy.

Thousands of hospital doctors walk out in latest UK strike

UK hospital doctors on Monday began a three-day strike over pay at the start of a week that will also see teachers, train staff and civil servants walk out, in the latest wave of industrial action.

Hundreds of migrants attempt to storm the US-Mexico border

Hundreds of people tried to storm the US-Mexico border on Sunday, after a rumor that migrants would be allowed to cross into the United States.

HSBC buys failed US bank SVB's UK arm for £1

The UK arm of failed US lender Silicon Valley Bank has been bought by HSBC for a nominal £1 ($1.2) in a rescue deal, the government and HSBC announced Monday.

Markets mixed as traders weigh US support after SVB collapse

Equity markets were mixed Monday as US pledges to backstop troubled lenders helped soothe concerns about the US financial sector following the closure of two banks over the weekend.

Dutch farmer party hopes to reap election gains

At "Piggy's Palace", his farm in the Dutch countryside, Erik Stegink watches his pigs cavort in the mud and fight over chunks of broccoli, lines of worry etched on his face.

UAE's ADNOC Gas shares surge 25% in $2.5bn IPO

Shares in the United Arab Emirates' ADNOC Gas soared 25 percent in opening trade on Monday in a $2.5 billion initial public offering that aims to tap into growing demand for the fuel.

Sawt Falasteen - Economy (English)