Sawt Falasteen - Economy

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Featured

Lamour leaves key FIFA position after criticising Infantino

Frenchman Kevin Lamour has left his role as FIFA's chief operating officer after criticising president Gianni Infantino's scrapped private investor plan, world football's governing body confirmed Monday.

OpenAI to lease massive new AI data center in US, backed by Nvidia

ChatGPT-maker OpenAI will lease a massive new data center in the United States for 20 years, backed by a $105 billion financing commitment from Nvidia, according to a regulatory filing published Monday.

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Saudi prince heads to EU for first time since Khashoggi killing

Saudi Crown Prince Mohammed bin Salman was set to embark on a visit to Greece and France on Tuesday, state media reported, his first Europe trip since the 2018 killing of Saudi journalist Jamal Khashoggi.

VW's new CEO faces twin challenges of Porsche, software problems

When Oliver Blume ascends to the top job at German automaker Volkswagen in September, he will be faced with taming the challenges that led to the fall of his predecessor, Herbert Diess, last week.

McDonald's tracking inflation impact as Russia exit hits profits

McDonald's reported lower profits Tuesday following the hit from its Russia withdrawal, as it keeps a close eye on restaurant traffic amid rising consumer inflation.

IMF cuts global growth outlook amid US, China slowdowns

Surging inflation and severe slowdowns in the United States and China prompted the IMF Tuesday to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse.

Pope to hold mass in Canada after apology for Indigenous abuse

Tens of thousands of people are expected to attend a mass by Pope Francis in western Canada Tuesday, a day after his historic apology for the abuse of Indigenous children at Catholic-run schools.

Higher prices boost Coca-Cola's Q2 results

Higher prices for soda helped Coca-Cola score better-than-expected quarterly profits in spite of higher operating costs and the drag of the strong US dollar in international markets, the company announced Tuesday.

Eurozone stocks slide, gas prices soar

Eurozone equities sank Tuesday, as natural gas prices surged after Russia tightened the screw on supplies in fresh Ukraine fallout.

General Motors Q2 profits fall 40% on supply woes, confirms forecast

General Motors reported a big drop in second-quarter profits Tuesday due to the grinding semiconductor shortage, although the automaker confirmed its full-year forecast amid strong pricing.

Tunisia president hails vote set to bolster rule

President Kais Saied said Tunisia had "entered a new phase" on Tuesday with a new constitution almost certain to pass in a referendum, concentrating almost all powers in his office.

EasyJet hit by aviation disruption but slashes loss

British airline EasyJet on Tuesday said it took a sizeable financial hit from sector-wide disruptions, notably staff shortages, but still slashed quarterly losses as demand recovers.

Asia stocks rise as Alibaba boosts tech, eases pre-Fed nerves

Asian markets rose Tuesday as an Alibaba-fuelled surge in Hong Kong provided a much-needed boost to sentiment ahead of a slew of earnings reports from the world's biggest firms and an expected Federal Reserve interest rate hike.

Croatia opens bridge around Bosnia to get to Dubrovnik

Croatia opens Tuesday a long-awaited bridge linking its southern Adriatic coast including Dubrovnik with the rest of the country, bypassing a narrow strip of Bosnian territory.

'Overwhelming': Survivors reflect on pope's Indigenous abuse apology

Some seemed far away, others wept or applauded: a great wave of emotion swept through the crowd on Monday in western Canada's Maskwacis when the pope himself begged forgiveness for the "evil" done to Indigenous people.

Walmart cuts profit outlook as inflation bites shoppers

Walmart cut its profit outlook Monday as surging inflation prompts shoppers to cut back on higher-margin items as they contend with increased prices for gasoline, food and other staples.

Pope apologizes for 'evil' of Indigenous abuse in Canada

Pope Francis on Monday apologized for the "evil" inflicted on the Indigenous peoples of Canada on the first day of a visit focused on addressing decades of abuse at Catholic-run residential schools.

Seaweed onslaught disrupts S.Leone fishing and tourism

A mass of brown seaweed has for weeks choked the coastline of Sierra Leone's capital Freetown, damaging fishing gear and disrupting tourism in a country otherwise known for its white-sand beaches.

Panama govt, protesters edge closer in talks to end road closures

The Panamanian government and protesters edged closer Monday to an agreement to end a weeks-long living cost revolt that has blocked roads, interrupted food supplies and damaged the economy.

Stock markets drift lower as traders prepare for big week

Equity markets in Asia and Europe slipped Monday at the start of a key week for equities as the Federal Reserve prepares to lift interest rates again and some of the world's biggest companies report earnings.

Indonesia foot and mouth outbreak prompts NZ, Australia restrictions

Prime Minister Jacinda Ardern warned an outbreak of foot-and-mouth disease in Indonesia could cost thousands of New Zealand jobs, as her nation and neighbouring Australia stepped up border biosecurity restrictions.

The centuries-old mines stirring Japan-South Korea tensions

Under a split-top mountain on the Japanese island of Sado lies a network of centuries-old mines that have sparked a new diplomatic row with South Korea.

Call for max working temperature cap after EU heatwave deaths

Trade unions called Monday for the European Commission to impose maximum temperature limits for outdoor workers, after three people died while on shift in Madrid during last week's withering heatwave.

Yep, 'Nope' rules at N.America box office

Universal's new horror flick "Nope" opened atop the North American box office, hammering the latest edition of Marvel's "Thor" franchise to earn an estimated $44 million, industry watcher Exhibitor Relations reported Sunday.

Over 1,000 migrants arrive in Italy amid election campaign

More than a thousand migrants arrived in Italy within a few hours while hundreds of others, rescued by humanitarian vessels, were waiting for a port to receive them, NGOs and authorities said Sunday.

Cricket Australia sells India broadcast rights to Disney

Australian cricket chiefs said Sunday they had agreed to sell broadcasting rights in India to Disney Star in a seven-year deal reportedly worth hundreds of millions of dollars.

Philippine bakeries shrink 'poor man's bread' as inflation bites

As the war in Ukraine pushes up wheat prices and a weaker peso raises the cost of imported edible oil, many Philippine bakers are shrinking the size of a popular breakfast roll to cope with higher inflation.

Why is the world worried about China's property crisis?

China's troubled property sector suffered another blow this month when frustrated homebuyers stopped making mortgage payments on units in unfinished projects.

Egypt's small farms play big role but struggle to survive

Egyptian smallholders grow nearly half of the country's crops, a lifeline role increasingly important after grain imports were stalled by war in Ukraine -- but they are struggling to survive.

Turf wars stall Ireland's green agenda

In the aftermath of the hottest day in Ireland for more than 130 years this week, small family groups picked their way across the Bog of Allen in the country's midlands collecting sun-dried turf.

Pope's Canada trip to make amends for Indigenous school scandal

Pope Francis heads to Canada on Sunday for a chance to personally apologise to Indigenous survivors of abuse committed over a span of decades at residential schools run by the Catholic Church.

Fed set for another big rate hike with economy on knife's edge

US central bankers face an increasingly difficult balancing act as they struggle to douse scorching inflation while still keeping the economy growing, though they have made it clear they are willing to risk a recession.

UK's Truss urges French action as Dover delays snarl British summer getaway

British Foreign Secretary Liz Truss on Friday urged Paris to act to ease "unacceptable" delays at the English Channel port Dover, where officials blamed French border force understaffing for "ruining" summer getaways with hours-long queues.

Volkswagen to change CEO and style with departure of Diess

Volkswagen unexpectedly announced Friday that its CEO Herbert Diess will step down in a few weeks after four years at the head of the German auto giant as it attempts an ambitious shift towards electric vehicles.

Sawt Falasteen - Economy (English)