Business and Economy



Milan Fashion Week fires up catwalks despite cautious outlook

AFP - 55m ago

The fashion set moves to Italy Wednesday for Milan Fashion Week, marked by a new designer at Moschino but held amid an …

HSBC reports 'record profit' of $30.3 bn in 2023

AFP - 1h ago

HSBC said Wednesday it achieved "record profit" in 2023 as pre-tax gains soared by nearly 80 percent, with the banking …

Indian farmers resume Delhi protest push after talks fail

AFP - 1h ago

Thousands of Indian farmers riding tractors prepared to resume their push towards New Delhi on Wednesday after failing …

China stocks jump after rate cut as markets await US tech earnings

AFP - 1h ago

Hong Kong and Shanghai stocks jumped Wednesday after Beijing's latest measures to boost the stuttering economy but …

Youth appetite for gold rises as Chinese economy loses lustre

AFP - 3h ago

The sound of gentle tapping filled a jewellery workshop in southern China as a craftsman hammered pine leaf patterns …

German economy buffeted by 'perfect storm'

AFP - 4h ago

Weaker exports, costly energy and a stuttering green transition have combined to form a "perfect storm" for the German …

Asian stocks lower after Wall Street losses

AFP - 2h ago

Asian markets were mostly down Wednesday, tracking US losses as investors await a key tech earnings report and Fed …

What to know about the NASA-funded commercial Moon fleet

AFP - 5h ago

The year 2024 promises to be a busy one for American Moon landings, all under a new partnership between NASA and the …

Commercial spaceship set for lunar touchdown, in test for US industry

AFP - 5h ago

A company from Texas is poised to attempt a feat that until now has only been accomplished by a handful of national …

Musk says patient moves cursor with brain implant

Feb 20 2024

Elon Musk says the first human patient with a brain implant from his Neuralink startup is able to move a computer mouse …

Russia, Venezuela to boost cooperation in energy, including nuclear

Feb 20 2024

Anti-American allies Russia and Venezuela vowed to boost cooperation in oil and gas production and the "peaceful use of …

Capital One's takeover of Discover reshuffles US credit card sector

Feb 20 2024

Capital One's proposed merger with the US credit card specialist Discover has reshuffled the deck in a fast-growing …

Global stocks mostly lower despite China rate cut

Feb 20 2024

Wall Street and European stocks mostly fell on Tuesday as gains made in Asia after China's central bank sprang a record …

Dutch court upholds $50-bn payment award in Yukos case

Feb 20 2024

A Dutch court quashed an appeal by Russia in a record $50-billion case Tuesday, paving the way for a payment to former …

The Body Shop to shut nearly half of UK shops

Feb 20 2024

The UK arm of The Body Shop cosmetics group will shut nearly half its 198 outlets, adminstrators brought in to save …

Global operation smashes 'most harmful cyber crime group'

Feb 20 2024

An international operation led by UK and US law enforcement has severely disrupted "the world's most harmful cybercrime …

Eiffel Tower closed again as staff extend strike

Feb 20 2024

The Eiffel Tower, one of the world's top tourist attractions, remained closed for a second straight day Tuesday as staff …

Global stocks slip despite China rate cut

Feb 20 2024

Wall Street and European stocks mostly fell on Tuesday, as gains in Asia after China's central bank sprang a record cut …

Young creators face cost dilemma at London Fashion Week

Feb 20 2024

To show or not to show at London Fashion Week? That was the question at this year's event for young independent brands …

Walmart says it will buy TV maker Vizio for $2.3 bn

Feb 20 2024

Walmart announced Tuesday it will buy smart television maker Vizio for $2.3 billion, boosting the retail giant's …

Lack of rain leaves Italy gasping

Feb 20 2024

A blanket of smog covers Milan, empty reservoir bake in Sicily and wine production is down in Piedmont as a lack of rain …

'World's most harmful': What is the LockBit cybercrime gang?

Feb 20 2024

An international law enforcement operation has taken down dozens of servers and disrupted LockBit, "the world's most …

Europe stocks mainly climb after China rate cut

Feb 20 2024

European equities mostly rose Tuesday, following gains in Hong Kong and Shanghai, after China's central bank sprang a …

Boeing announces Dreamliner deal at Singapore Airshow

Feb 20 2024

Boeing said Tuesday that Thai Airways had placed an order for 45 Dreamliner aircraft, the first major deal announced by …

Eiffel Tower closed again as staff extend strike: union

Feb 20 2024

The Eiffel Tower, one of the world's top tourist attractions, will remain closed for a second straight day Tuesday as …

China cuts key mortgage rate to boost economy

Feb 20 2024

China's central bank on Tuesday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to rescue its …

Wind-powered Dutch ship sets sail for greener future

Feb 20 2024

The world's first chemical tanker ship fitted with massive rigid aluminium "sails" has left Rotterdam, its owner hoping …

Made-in-China airliner seeks buyers at Singapore Airshow

Feb 20 2024

China's first domestically produced passenger jet was presented at Asia's biggest airshow, which opened in Singapore on …

Potholes, a British obsession with a heavy price

Feb 20 2024

Dotting the asphalt, they come in various shapes and sizes, costing drivers a fortune in vehicle repairs and even lives. …

Lab-grown diamonds put natural gems under pressure

Feb 20 2024

The glittering diamonds sparkle the same but there are key differences: mined natural gems are more than a billion years …

Capital One to buy Discover for $35.3 bn

Feb 20 2024

US banking giant Capital One announced Monday it will acquire financial services company Discover in a $35.3 billion …

China central bank cuts benchmark lending rate to boost economy

Feb 20 2024

China's central bank on Tuesday cut a key benchmark lending rate used to price mortgages, as Beijing seeks to boost its …

Italy takes over troubled steel mill

Feb 20 2024

After months of deadlock, the Italian government on Monday announced a temporary state takeover of a troubled steel mill …

Made-in-China airliner shown overseas at Singapore Airshow

Feb 19 2024

China's first domestically produced passenger jet will be presented to potential buyers in an international debut at …

Ecuador backtracks on plan to send weapons to Ukraine

Feb 19 2024

Ecuador's foreign minister said Monday the country did not plan to send Soviet-era weapons to Ukraine after the …

Stock markets diverge before more key earnings

Feb 19 2024

Major stock markets diverged Monday as traders awaited more earnings this week from heavyweight companies, including …

France 'probably' missed 2023 deficit target: source

Feb 19 2024

France likely overshot its budget deficit target in 2023, a finance ministry official said on Monday.

Eiffel Tower closes as staff go on strike

Feb 19 2024

The Eiffel Tower, one of the world's top tourist attractions, was closed Monday after staff went on strike, unions told …

Asian stocks mostly up as China enjoys Lunar New Year bump

Feb 19 2024

Mainland Chinese stocks were buoyant after Lunar New Year, leading gains in most other Asian markets on Monday, as …

China new year holiday spending surges past pre-pandemic levels

Feb 19 2024

China's new year holiday spending last week surged past pre-pandemic levels, official figures showed, a rare bright spot …

Asia stocks mixed as China enjoys Lunar New Year bump

Feb 19 2024

Chinese stocks were buoyant after Lunar New Year but other Asian markets were mixed on Monday as a hot US inflation …

Natural pesticides gain ground in 'agri-tox' capital Brazil

Feb 19 2024

Inspecting a thriving green field, Brazilian farmer Adriano Cruvinel is beaming: Using a fraction of the chemical …

China agrees to lift ban on Spanish beef imports

Feb 18 2024

China has agreed to lift a ban on imports of Spanish beef, the foreign ministers of both nations said Sunday after …

Could mini nuclear stations plug South Africa's power gaps?

Feb 18 2024

South African nuclear scientists want to build a new generation of mini nuclear reactors, both to plug holes in their …

London Fashion Week celebrates multiculturalism and urban life

Feb 18 2024

The cultural richness brought by migrations across the world, familial nostalgia and the frenetic pace of London life …

Family ties and city life stitch style into London Fashion Week

Feb 17 2024

Familial nostalgia, cultural roots and the frenetic pace of London life marked the second day of the city's Fashion Week …

New York ruling deals Trump business a major blow

Feb 16 2024

The sweeping punishment meted out Friday by a New York judge on Donald Trump and his family business deals a serious …

WTO chief insists global trade body still counts

Feb 16 2024

The head of the World Trade Organization insisted Friday the WTO was still relevant as it prepares for its main …

London Fashion Week blends tweed and Y2K amid economic gloom

Feb 16 2024

From tweed to the iconic low-rise jeans of the early 2000s, London Fashion Week unveiled a spectrum of styles on Friday, …

Hot US inflation report stops Wall Street stocks rebound

Feb 16 2024

A larger-than-expected rise in US wholesale prices Friday rekindled worries over the timing of interest rate cuts and …

New AI-video tool by maker of ChatGPT worries media creators

Feb 16 2024

A new artificial intelligence tool that promises to create short videos from simple text commands has raised concerns …

US wholesale prices rose more than expected in January

Feb 16 2024

US wholesale prices rose more than expected in January, according to government data published Friday, as services costs …

US Fed should be patient as rate cuts considered: official

Feb 16 2024

The US Federal Reserve should "resist the temptation to act quickly" as it contemplates the right time to begin interest …

Russian invasion catalyst for renewables in Ukraine: minister

Feb 16 2024

The wartime destruction of its coalmines and several of its power plants are proving a catalyst for Ukraine's renewable …

'Resilient' Africa set for growth rebound: ADB

Feb 16 2024

Africa saw the pace of economic growth sag last year as inflation continued to rise but is set to rebound this year, the …

UK bank NatWest shakes off CEO turmoil as profits jump

Feb 16 2024

British bank NatWest on Friday said net profit jumped nearly a third in 2023 on higher interest rates, adding that Paul …

EU watchdog urged to reject Meta 'pay for privacy' scheme

Feb 16 2024

Civil rights groups on Friday called on an EU watchdog to rule against Facebook owner Meta's scheme to let Europeans pay …

Global stock markets stage pre-weekend rally

Feb 16 2024

Europe's stocks rallied Friday, with Frankfurt and Paris striking more record peaks after solid Asian gains, as …

Asian markets rally after Wall Street highs

Feb 16 2024

Asian markets rose Friday, supported by Wall Street and eurozone records, as traders shrugged off weak US retail sales …

EU rules policing digital content kick in Saturday

Feb 16 2024

Digital companies will have nowhere to hide after the EU's landmark content law enters into full force from Saturday, …

Four Xbox exclusives heading to rivals in big shift

Feb 16 2024

Microsoft on Thursday shook up the video game world with word it is making some once-exclusive Xbox video games …

Big firms with $7 tn exit climate investment pressure group

Feb 15 2024

A pair of large investment companies with nearly $7 trillion in assets, said Thursday they exited a climate change …

World Bank endorses new Afghanistan approach which could unlock $300 mn

Feb 15 2024

The World Bank's executive board endorsed a new approach to its relationship with the people of Afghanistan Thursday …

Global stocks rally even as Japan, Britain enter recession

Feb 15 2024

Global stocks rose to fresh records Thursday despite lackluster economic data that included negative growth reports …

ChatGPT's OpenAI reveals text-to-video tool

Feb 15 2024

OpenAI, the creator of ChatGPT and image generator DALL-E, said it was testing a text-to-video model called Sora that …

World Bank approves $300 mn in new funding for Afghanistan

Feb 15 2024

The World Bank's executive board has approved $300 million in new funds for Afghanistan, which it will deploy outside …

Musk fights US state of Delaware after Tesla pay debacle

Feb 15 2024

Elon Musk is on the warpath against Delaware and its powerful business court, moving his SpaceX company out of the …

China urges firms not to be 'blinded by lies' over Xinjiang rights record

Feb 15 2024

China on Thursday urged companies not to be "blinded by lies" about its rights record in Xinjiang, after German …

US dollar dominance not under threat, despite risks: Fed official

Feb 15 2024

The status of the US dollar as the world's reserve currency is likely to continue, despite threats posed by China's rise …

Tractors gather in central Madrid in farmers' protest

Feb 15 2024

Spanish farmers kept up their protests over the sector's troubles on Thursday, with tractors parked outside of the …

Bitcoin's renewed euphoria as price keeps rising

Feb 15 2024

Bitcoin is forecast to keep on rising after hitting fresh two-year highs above $50,000 on Thursday, leaving analysts to …

Global stocks rebound rolls on

Feb 15 2024

A rebound in global stocks largely continued on Thursday despite lacklustre economic data in the United States and news …

Private spaceship bound for the Moon, in test for US industry

Feb 15 2024

A private US spaceship was bound for the Moon on Thursday, where it will attempt to land near the south pole and carry …

Global stocks rebound begins to fizzle

Feb 15 2024

A rebound in global stocks appeared to fizzle on Thursday, with Wall Street held back by lacklustre data and London by …

US retail sales in January log biggest fall in almost a year

Feb 15 2024

Retail sales in the United States slipped more than anticipated last month, retreating after the holiday season and …

US retail sales slump more than expected in January

Feb 15 2024

Retail sales in the United States fell more than analysts anticipated last month, bogged down by weak auto sales and …

EU cuts growth and inflation forecasts for 2024

Feb 15 2024

The European Commission on Thursday cut both its growth and inflation forecasts for the eurozone in 2024, as it warned …

IEA warns on plummeting oil stocks

Feb 15 2024

The International Energy Agency warned Thursday of plummeting oil stocks even as global growth in demand loses momentum.

Brazil quake city families seek justice in Dutch court

Feb 15 2024

Residents from a Brazilian city devastated by earthquakes caused by salt mining went to a Dutch court Thursday, seeking …

Global stocks mainly rise, but London flatlines on recession news

Feb 15 2024

Eurozone stocks chased Asia and New York higher Thursday as investors cheered bright earnings and mulled the outlook for …

Airbus posts 11 percent profit drop for 2023

Feb 15 2024

European aviation giant Airbus on Thursday posted an 11 percent drop in net profit to 3.8 billion euros ($4.1 billion) …

UK economy slides into recession ahead of election

Feb 15 2024

Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, …

EU cuts eurozone inflation, growth forecasts for 2024

Feb 15 2024

The European Commission on Thursday cut both its growth and inflation forecasts for the eurozone in 2024, as it warned …

Asian markets mostly up, tracking Wall Street gains

Feb 15 2024

Most Asian markets rose Thursday, tracking a rebound in Europe and New York and following positive remarks from a senior …

Japan's humble 'onigiri' rice balls get image upgrade

Feb 15 2024

Wrapped in seaweed and stuffed with delicious fillings, "onigiri" rice balls are shaking off their reputation as a cheap …

Germany overtakes Japan as third-biggest economy

Feb 15 2024

Once forecast to become the world's biggest economy, Japan slipped below Germany last year to fourth place, official …

Argentina's annual inflation soars above 250% in January

Feb 15 2024

Argentina's monthly inflation slowed slightly in January, but the prices of key goods and services rose 254 percent …

What is behind the US economy's surprising strength?

Feb 15 2024

The US has seen GDP growth blow past predictions, hiring numbers surge unexpectedly and consumers still spending even as …

Ubisoft launches long-awaited 'Skull and Bones' video game

Feb 15 2024

After years of production headwinds, Ubisoft's oft-delayed pirate video game "Skull and Bones" is set to launch on …

Senior US Fed official backs 'careful' approach to rate cuts

Feb 14 2024

The US Federal Reserve should be careful about the timing of interest rate cuts, a senior bank official said Wednesday, …

Stocks bounce after data-induced drop

Feb 14 2024

European and US stocks rebounded Wednesday from the previous day's sharp losses, as dealers went fishing for bargains, …

More hunger, less money: Argentine soup kitchens count rations

Feb 14 2024

In an Argentine soup kitchen, empty plastic containers are piling up from hungry visitors, and the cooks are worried …

Renault bounces back in 2023 with net profit of 2.2 bn euros

Feb 14 2024

French automaker Renault on Wednesday said it had bounced back into profit in 2023 as sales rose due to new models and …

Sticky UK inflation stokes Bank of England rate-cut debate

Feb 14 2024

British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank …

German auto supplier Continental says to cut 7,150 jobs

Feb 14 2024

German auto supplier Continental said Wednesday it would cut some 7,150 posts worldwide by 2025 as the difficult switch …

World demand for liquefied natural gas jumps 50% by 2040: Shell

Feb 14 2024

British energy group Shell on Wednesday forecast that world demand for liquefied natural gas would jump more than 50 …

'Working is duty': French PM tells rail workers ahead of holiday strike

Feb 14 2024

French Prime Minister Gabriel Attal on Wednesday warned train controllers against disrupting travel during school …

European stocks rebound from losses

Feb 14 2024

European stock markets rebounded Wednesday from the previous day's sharp losses, as dealers went fishing for bargains, …

Turkey under pressure to shut down gold mine after landslide

Feb 14 2024

Calls grew in Turkey on Wednesday to shut down a controversial gold mine as hopes dimmed of rescuing nine workers …

Body Shop's UK business slides into administration

Feb 14 2024

The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has …

Body Shop's UK arm falls into administration: statement

Feb 14 2024

The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has …

Sony hikes profit forecast but says PS5 sales to slow

Feb 14 2024

Japan's Sony upgraded its annual net profit forecast on Wednesday but trimmed its PlayStation 5 unit's sales target, …