Sawt Falasteen - Economy

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Featured

UK set for 'limited' budget giveaways as borrowing costs surge

British Prime Minister Andy Burnham's new government unveils its first budget Wednesday, testing a commitment to ease the cost of living and ramp up defence spending with little financial room for manoeuvre.

Canada-EU summit seeks deepened alliance as US ties fray

Canadian and European Union leaders meet in Montreal this week for a summit aimed at deepening their alliance as both sides navigate tumultuous relations with the United States.

Last news

Stocks rally but oil prices tumble

Stock markets in the United States and Europe rallied on Friday as investors fished for bargain shares and shrugged off losses elsewhere, but oil prices dropped as concerns over the global economy persist.

Twitter fate in doubt as employees defy Musk ultimatum

The future of Twitter seemed to hang in the balance Friday after its offices were locked down and key employees announced their departures in defiance of an ultimatum from new owner Elon Musk.

Ivory Coast, Ghana throw down gauntlet on cocoa price

The world's chocolate industry could be in for a turbulent ride as the two biggest cocoa producers set down demands for manufacturers to pay higher prices for their growers.

US home sales drop for record ninth straight month on high prices

US existing home sales slid for a record ninth straight month in October, industry data showed Friday, as rising mortgage rates squeeze affordability.

Chile blacklists child support defaulters

Chile, where 84 percent of child support goes unpaid, on Friday introduced a national register of defaulters who now risk losing out on public sector promotions or loans or having funds frozen.

World stocks rally but oil prices tumble

Global main stock markets rallied Friday as investors fished for bargain shares and shrugged off losses elsewhere, but oil prices fell as concerns over the global economy persist.

Angry funerals spark new protests in Iran

Funerals for young Iranians, including a small boy who families say were killed in a state crackdown, sparked a new wave of anti-regime protests on Friday in the Islamic republic.

Swedish prosecutor confirms Nord Stream pipeline sabotage

The blasts which destroyed sections of the Nord Stream pipelines carrying natural gas from Russia to Germany under the Baltic Sea in September were acts of sabotage, Swedish officials confirmed Friday.

Earth now weighs six ronnagrams: New metric prefixes voted in

Say hello to ronnagrams and quettametres: International scientists gathered in France voted on Friday for new metric prefixes to express the world's largest and smallest measurements, prompted by an ever-growing amount of data.

Iran's 'civil war' warning may presage bloodier crackdown: analysts

Iran has accused foreign foes of trying to spark "civil war" by stoking the protests over Mahsa Amini's death -- harsh language that, analysts warn, could presage an even bloodier crackdown.

Europe stocks rally on bargain hunting

Europe's main stock markets rallied Friday as investors fished for bargain shares and shrugged off losses elsewhere.

France faces high risk of power grid strain in January: operator

The French electricity grid operator warned Friday of a "high risk" of network strain due to ongoing nuclear power plant outages, which could see businesses and households forced to curb usage to avoid outright power cuts.

Major German trade union wins pay hike, averting strike

Germany's biggest trade union agreed Friday to hefty wage hikes that are expected to cover almost four million workers facing soaring inflation, averting a major strike in Europe's top economy.

VP Harris tells Asia the US is 'here to stay'

Vice President Kamala Harris told Asian leaders on Friday that the United States is committed to the region for the long haul, rejecting doubts about its engagement as China expands its clout.

DR Congo town set to 'disappear' as mines expand

"We're screwed," said Alphonse Fwamba Mutombo, standing on a plot of rubble overlooking an open-cast cobalt mine in Kolwezi, southeastern DR Congo.

Asian markets mixed as caution over rate outlook dulls sentiment

Asian markets were mixed Friday as caution permeated trading floors and investors tried to gauge the outlook for Federal Reserve monetary policy after several officials tried to temper optimism over signs that inflation is slowing.

UK's remote Pitcairn islanders see no Brexit bounty

The Pitcairn Islands, a volcanic outcrop halfway between South America and New Zealand, is the UK's only overseas territory in the Pacific Ocean and home to only 46 people.

Japan inflation hits four-decade high in October

Japanese inflation hit a four-decade high last month, government data showed Friday, fuelled by high energy costs and a weak yen and ramping up pressure on the central bank to move away from its ultra-loose monetary policies.

Asian markets rise but caution over rate outlook dulls sentiment

Asian markets edged up Friday, though caution permeated trading floors as investors tried to gauge the outlook for Federal Reserve monetary policy after several officials tried to temper optimism over signs that inflation is slowing.

'Young people are leaving us' in Amazon suicide wave

Shocked by a recent spate of teen suicides, shamans in the Colombian Amazon placed their remote Indigenous village under a three-week "quarantine" without alcohol, football or music.

Cuba bets on specialty coffee to boost industry

In the lush, fertile mountains of Cuba, farmer Jesus Chaviano dreams of adding his arabica beans to a list of specialty coffees the country hopes will lift an industry in decline.

Elizabeth Holmes to be sentenced in Theranos fraud trial

Fallen US biotech star Elizabeth Holmes faces sentencing on Friday after being found guilty of defrauding investors and endangering patients in a case that became an indictment of Silicon Valley.

Twitter exodus begins after Musk 'hardcore' ultimatum

Employee departures were multiplying at Twitter on Thursday after an ultimatum from new owner Elon Musk, who demanded staff choose between being "extremely hardcore" and working intense, long hours, or losing their jobs.

UK austerity budget stings markets, US stocks slip for second day

A British austerity budget hit the pound and gilts on Thursday, while stocks suffered worldwide on the glum economic outlook and prospect of painfully high interest rates to curb inflation.

Starbucks staff go on strike in US stores over labor talks

Starbucks workers in the United States went on strike at multiple unionized locations Thursday, a move planned to affect over 100 stores in protest against the coffee giant's approach in negotiating union contracts.

Blizzard to pull popular games from China after license spat

US gaming giant Blizzard Entertainment will suspend most of its services in China from January, the company said Thursday, after it failed to reach a licensing deal with local firm NetEase.

UK unveils recession budget triggered by markets chaos

Britain's government Thursday unveiled a painful budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming the country was in recession.

Salvadoran president vows to buy "one #Bitcoin every day'

President Nayib Bukele of El Salvador, the first country to make bitcoin legal tender, said Thursday the nation would buy one unit of the currency every day, doubling down in the face of public criticism of his embrace of the crypto money.

FTX had 'complete failure' of controls, new CEO says

Collapsed cryptocurrency exchange FTX suffered a "complete failure of corporate controls" under founder Sam Bankman-Fried, the company's new chief executive said Thursday, calling the situation "unprecedented."

UK austerity budget stings markets

A British austerity budget hit the pound and gilts on Thursday, with stocks suffering worldwide on the glum economic outlook and the prospect of painfully high interest rates to curb inflation.

UK unveils recession budget following markets chaos

Britain on Thursday unveiled a painful budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming its economy was in recession.

UK unveils austerity budget despite recession

Britain on Thursday unveiled an austerity budget with £55 billion ($65 billion) of tax hikes and spending cuts despite confirming its economy was in recession.

Sawt Falasteen - Economy (English)