Sawt Falasteen - Economy

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Featured

US Fed holds interest rates steady despite 'too high' inflation

The US Federal Reserve on Wednesday held interest rates steady, even as its Chairman Kevin Warsh said inflation remained "too high" but insisted that politics played no part in the central bank's decision not to continue raising rates days before crucial midterm elections.

Pioneering US labor leader Dolores Huerta dies at 96

Dolores Huerta, the US labor leader and civil rights icon whose union work changed the lives of migrant workers, has died, her family said Wednesday. She was 96.

Last news

Stocks drop before expected Fed hike; oil soars on EU embargo

Global stock markets slid Wednesday in cautious deals before an expected half-point interest rate hike from the inflation-fighting US Federal Reserve.

Inflation prompts surprise India interest rate hike

India's central bank announced a surprise interest rate hike on Wednesday, as Asia's third-biggest economy reels from galloping inflation in the wake of the Ukraine war.

EU targets Russian oil, Patriarch in new sanctions

The European Union's executive unveiled Wednesday plans for a gradual ban on Russian oil imports as part of a raft of new sanctions to punish Moscow for invading Ukraine.

Surprise interest rate hike in India

India's central bank announced a surprise interest rate hike of 0.4 percentage points on Wednesday, as Asia's third-biggest economy reels from galloping inflation in the wake of the Ukraine war.

Asian markets drop ahead of key Fed rate decision

Equities fell in Asian trade Wednesday as traders nervously awaited what is expected to be the biggest Federal Reserve interest rate hike in more than two decades.

Volkswagen trains sights on US as profits jump

Volkswagen's first-quarter net profit almost doubled as the German automaker looked anew to the North American market to drive growth after years of muted presence there over "dieselgate", company results showed Wednesday.

Russian forces press Ukraine offensive as EU weighs oil sanctions

Russian forces have launched a major assault on the holdout Azovstal steel plant in the devastated port city of Mariupol while pounding sites across eastern Ukraine, as the European Union moves to punish Moscow with oil sanctions.

Venezuelan migrants say it's 'time to go home'

For five months, Victor Fernandez has been saving up to buy a return ticket home to his native Venezuela, where the ravaged economy is showing signs of recovery.

Worst drought in decades devastates Ethiopia's nomads

There has hardly been a drop of rain in Hargududo in 18 months. Dried-up carcasses of goats, cows and donkeys litter the ground near the modest thatched huts in this small village in the Somali region of southeastern Ethiopia.

'Fight, fight, fight': New Yorkers protest Supreme Court abortion draft

Displaying placards with slogans like "My body, my choice," thousands protested in New York City late Tuesday after a leaked draft ruling indicated that the Supreme Court planned to end nationwide legal abortion.

Markets on edge as Fed prepares renewed salvo against inflation

Wall Street has grown nervous as the Federal Reserve is set to make its biggest rate hike in more than two decades to crush inflation that has reached levels not seen since the 1980s.

Schultz vows new investments as Starbucks aims to head off union push

Interim Starbucks CEO Howard Schultz unveiled fresh investments in US stores and employees Tuesday as the company seeks to head off a unionization campaign, while it reported strong North American sales that offset weakness in China.

Airbnb says record bookings signal travel rebound

Bookings on Airbnb hit a new high in this year's first quarter, the home rental platform reported Tuesday, in a fresh signal that travel demand stifled by the Covid-19 pandemic is being unleashed.

US 'blue states' gird for abortion fight

Clinics close to airports; training for out-of-state medics and a raft of legislation rushing through the state assembly: California's fight to keep abortion available to Americans redoubled Tuesday.

'Always had hope': US anti-abortion activist eyes historic win

Madelyn Ocasio can hardly believe the good news. At 66, the anti-abortion activist from the outskirts of Miami hopes her dream of seeing the US Supreme Court roll back half a century of abortion rights is finally about to come true.

Starbucks profits edge higher despite China weakness

Robust sales in North America were offset by weakness in China as Starbucks reported a modest profit increase Tuesday as it boosts investment in US stores amid a unionization campaign.

Pfizer sees high demand for Covid-19 pill as profits jump

Pfizer executives said Tuesday they are confident of strong demand for the company's Covid-19 antiviral treatment amid easing pandemic rules as the big drugmaker reported another round of strong earnings.

Supreme Court leak ignites US abortion firestorm

President Joe Biden urged voters Tuesday to defend their "fundamental" rights after a leaked Supreme Court draft on ending nationwide legal abortion sparked a political firestorm around one of America's most divisive ethical issues.

US reviewing tariffs on Chinese goods set to end in July

American tariffs on hundreds of billions of dollars of Chinese imports are due to expire in July, but could be extended if enough industries ask for it, US officials said Tuesday.

US faces seismic abortion shift, Biden backs 'fundamental' right

President Joe Biden called on American voters Tuesday to defend the "fundamental" right to abortion after a leaked draft suggested the Supreme Court is poised to strike down the longstanding decision protecting a woman's right to terminate a pregnancy.

Fed convenes to launch new salvo against record US inflation

The US central bank opened its policy meeting Tuesday, which is expected to produce a big rate hike as policymakers go on the attack against record high inflation.

EU members seek opt-outs from Russian oil embargo

European officials were preparing a new package of sanctions Tuesday to punish Russia for its invasion of Ukraine, but some members are jockeying to opt out of an oil embargo.

Russia attacks Mariupol plant, UK PM address Ukraine parliament

Russian forces launched an offensive Tuesday against the Azovstal steel plant, the last hold-out of Ukrainian forces in the battered southern port city of Mariupol, after a ceasefire that had allowed civilians to evacuate.

Pfizer Q1 revenues jump 77% to $25.7 bn on Covid-19 vaccine

Pfizer reported another quarter of huge revenues growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year profit forecast due in part to shifts in foreign exchange.

Stock markets steady awaiting start of Fed meet

Major stock markets mostly steadied Tuesday, with traders braced for a sharp US interest rate hike to curb soaring inflation.

Philippines' Duterte vows to ban online cockfighting

Philippine President Rodrigo Duterte has vowed to ban online cockfighting following outcry over the industry sparked by the disappearance of dozens of workers and concerns about the social costs of gambling.

BP plunges deep into red on pullout from Russia

British energy giant BP said Tuesday that its decision to pull out of Russia as a result of the war in Ukraine pushed it deep into the red in the first three months of this year.

Asian markets drop as traders brace for Fed hike

Asia stocks fell Tuesday as markets braced for a sharp US interest rate hike and similar moves by other central banks as they struggle to control inflation, with traders increasingly worried about another possible recession.

BP plunges into $20.4-bn loss on Russia exit

British energy giant BP on Tuesday plunged into a huge net loss in the first quarter after it decided to exit Russia over the country's invasion of neighbour Ukraine.

Hong Kong plummets towards bottom of press freedom ranking

Hong Kong has plummeted down an international press freedom chart as authorities have wielded a draconian new security law to silence critical news outlets and jail journalists, a new report said on Tuesday.

Roe v. Wade: 1973 case that enshrined US abortion rights

A US Supreme Court draft opinion leaked to the press on Monday suggests a majority of justices are ready to overturn the landmark Roe v. Wade, shredding nearly 50 years of constitutional protections on abortion rights.

Most Asian markets drop as traders brace for Fed hike

Asia stocks mostly fell Tuesday as markets brace for a sharp US interest rate hike and similar moves by other central banks as they struggle to control inflation, with traders increasingly worried about another possible recession.

Sawt Falasteen - Economy (English)