Business and Tech

IMF urges El Salvador to remove Bitcoin as legal tender

AFP - 12m ago

The IMF on Tuesday called on El Salvador to change course and stop using Bitcoin as legal tender, citing "large risks" …

Italian luxury brand Moncler to give up fur on its parkas

AFP - 2h ago

Italian luxury brand Moncler, known for its high-end parkas, Tuesday joined a growing number of fashion firms dropping …

Making smartphone data anonymous no longer enough: study

AFP - 2h ago

Privacy measures that are meant to preserve the anonymity of smartphone users are no longer suitable for the digital …

US firms have only few days supply of semiconductors: govt

AFP - 3h ago

American companies have an average of less than five days worth of semiconductors on hand, a level leaving them …

US sues to block Lockheed Martin-Aerojet deal

AFP - 3h ago

US authorities announced Tuesday they are suing to block Lockheed Martin's $4.4 billion takeover of Aerojet Rocketdyne, …

Wall Street slumps as Fed meets, Europe rebounds

AFP - 3h ago

Wall Street stocks sank on Tuesday as the Federal Reserve began a two-day monetary policy meeting, while European stocks …

IMF slashes global growth outlook amid Omicron hit

AFP - 4h ago

The Omicron variant of Covid-19 is creating an obstacle course for the global economy, which will slow growth this year, …

Casino operator to develop 'gaming' resort in UAE

AFP - 4h ago

A US-based casino operator on Tuesday announced plans to develop a multi-billion-dollar resort off the coast of the …

IMF warns of possible market correction as interest rates rise

AFP - 4h ago

Global equity markets that have see-sawed in recent weeks but show signs of "overvaluation" are at risk of a sharp …

Fed begins meeting to fight inflation as markets tremble

AFP - 5h ago

The Federal Reserve began Tuesday a policy meeting in which central bankers are expected to further signal which weapons …

Freight lobby urges UK-France talks to ease port queues

AFP - 5h ago

A leading UK freight lobby group has urged the British and French governments to hold talks to ease miles-long backups …

US consumers slightly more hopeful about inflation, economy: data

AFP - 5h ago

American consumers were feeling less confident in January amid elevated prices and a Covid-19 resurgence, but their …

US threatens stiff sanctions, warns Russia not to 'weaponize' energy

AFP - 5h ago

The United States on Tuesday warned Russia of damaging sanctions, including high-tech export curbs, and said attempts by …

European stocks rebound, Wall Street sinks as Fed meets

AFP - 2h ago

Wall Street stocks sank at the start of trading on Tuesday as the Federal Reserve began a two-day monetary policy …

Google pushes new plan to overhaul web-tracking cookies

AFP - 6h ago

Google on Tuesday announced a new plan to stop using small files known as cookies to track people's web browsing habits, …

GE sees revenues rising in 2022 after drop in Q4

AFP - 7h ago

General Electric reported a drop in fourth-quarter revenues Tuesday on a mixed performance across its industrial …

Scandal-plagued Credit Suisse warns profits to take hit

AFP - 5h ago

Credit Suisse warned Tuesday that litigation would hit fourth-quarter profits while its investment bank faces a loss, in …

Israeli firm develops body cams with facial recognition

AFP - 9h ago

Twenty years after he planned the controversial barrier between Israel and the Palestinians, Dany Tirza is developing a …

European equities rebound as Fed meets

AFP - 3h ago

European stock markets rebounded Tuesday, shrugging off steep Asian losses on the eve of a Federal Reserve monetary …

Central Asia hit by large-scale power blackout

AFP - 32m ago

An electricity grid accident left millions of people in three Central Asian countries without power on Tuesday, idling …

Ericsson profits soar despite China trouble

AFP - 11h ago

Swedish telecoms giant Ericsson said Tuesday its net profit soared in 2021, with a better-than-expected performance in …

VW and Bosch join forces to rev up automated driving

AFP - 7h ago

Car giant Volkswagen and parts supplier Bosch have embarked on an "extensive partnership" to bring automated driving to …

Asia markets dive as volatility sweeps globe ahead of Fed meeting

AFP - 2h ago

Asian markets plunged Tuesday following a highly volatile day on Wall Street fuelled by fears about the Federal …

Asian markets tumble as volatility sweeps globe ahead of Fed meeting

AFP - 4h ago

Asian markets tumbled Tuesday following a highly volatile day on Wall Street fuelled by fears about the Federal …

Webb telescope reaches final destination, a million miles from Earth

AFP - 15h ago

The James Webb Space Telescope has arrived at its cosmic parking spot a million miles away, bringing it a step closer to …

US stocks finish higher after roller-coaster day, European losses

Jan 24 2022

Wall Street stocks staged a feverish comeback Monday ahead of a key Federal Reserve meeting after stumbling to …

Boeing invests $450 mn in air taxi venture

Jan 24 2022

Boeing has invested $450 million in Wisk, a Silicon Valley air taxi venture that aspires to develop the first …

Webb telescope reaches destination, 1 mn miles from Earth: NASA

Jan 24 2022

The James Webb Space Telescope has fired its thrusters and reached its orbital destination around a million miles (1.5 …

Bob Dylan sold entire recording catalog to Sony

Jan 24 2022

Bob Dylan sold his entire back catalog of recorded music along with "the rights to multiple future new releases" to Sony …

Facebook trumpets massive new supercomputer

Jan 24 2022

Facebook's parent company Meta announced on Monday it was launching one of the world's most powerful supercomputers to …

Stocks slide on Ukraine tensions, US rate hike fears

Jan 24 2022

Global stock markets fell sharply on Monday, spooked by geopolitical tensions in Ukraine and looming interest rate hikes …

US suits accuse Google of tracking data without users' permission

Jan 24 2022

A group of top US justice officials accused Google in lawsuits Monday of tracking and profiting from users' location …

Russian central bank moves to halt currency slide over Ukraine

Jan 24 2022

The Russian central bank said on Monday it was suspending purchases of foreign currency after the stock market and ruble …

Orange poised to name Heydemann as first female CEO

Jan 24 2022

French telecoms multinational Orange is days away from naming Christel Heydemann as its first female chief executive, …

Evergrande shares rise after reports of government restructure

Jan 24 2022

Shares in debt-laden Chinese property giant Evergrande rallied Monday after a state firm official was appointed to its …

Stocks slide on Ukraine tensions, Wall Street selloff

Jan 24 2022

Global stock markets mostly sank on Monday, hit by fears over simmering Ukraine tensions -- and a painful pre-weekend …

Volkswagen hits 2021 EU emissions target after 2020 miss

Jan 24 2022

German car giant Volkswagen said Monday it beat the European Union's target for cutting carbon emissions on its new …

Russian stocks, ruble fall as Ukraine crisis simmers

Jan 24 2022

The Russian stock market and ruble tumbled on Monday as geopolitical tensions have soared over fears that Russia may …

Cathay Pacific says 'cash burn' will worsen over Hong Kong curbs

Jan 24 2022

Cathay Pacific is poised to lose nearly $200 million a month from February, the embattled Hong Kong carrier reported …

WeChat denies Australia PM's account was hacked

Jan 24 2022

Australian Prime Minister Scott Morrison's WeChat account has disappeared, prompting accusations of Chinese …

Markets follow Wall St down as traders eye Fed meeting

Jan 24 2022

Most markets sank in Asia and Europe on Monday following another painful sell-off on Wall Street, with investors' focus …

Asian markets follow Wall St down as traders eye Fed meeting

Jan 24 2022

Most markets sank in Asian trade Monday following another painful sell-off on Wall Street, with investors' focus on the …

Olympic 'curse' strikes again as Beijing costs mount

Jan 23 2022

The "curse" of Olympic overspending looks set to strike again at the Beijing Games, with stringent Covid measures and …

'Heating or eating': Britons struggle with rising costs

Jan 23 2022

Nestled amid superstores at a retail park, the Colchester Foodbank in eastern England last year gave out a total of 165 …

Forget working from home -- why not live in an old office?

Jan 23 2022

Blocks from the White House, an unassuming edifice in downtown Washington that once held offices used by the US …

Fed sharpens inflation-fighting tools as rate hikes near

Jan 23 2022

The Federal Reserve has its inflation-fighting weapons ready to fire, and when the US central bank's policy committee …

US suspends 44 passenger flights to China operated by Chinese carriers

Jan 22 2022

The United States announced Friday that it was suspending 44 Chinese passenger flights from America to the Asian giant …

US stocks fall again, sending Nasdaq nearer to dreaded 'bear' market

Jan 22 2022

Wall Street stocks tumbled again Friday following a plunge in Netflix shares that sent the Nasdaq further into …

Netflix sinks as Wall Street flees 'stay-at-home' stocks

Jan 21 2022

One day after shares of at-home fitness company Peloton tumbled, Netflix found itself in Wall Street's hot seat Friday …

Chile's president-elect unveils young, woman-majority cabinet

Jan 21 2022

Chile's leftist president-elect Gabriel Boric, whose victory at the polls last month unsettled the markets, on Friday …

Airbus cancels Qatar Airways plane order in feud

Jan 21 2022

Airbus has taken the extraordinary step of cancelling a multi-billion-dollar order of 50 planes from Qatar Airways, a …

Five do battle for top UN labour job

Jan 21 2022

Five candidates battling to take the helm of the United Nations' labour agency completed two days of hearings Friday …

Biden hails Intel's $20 bn chip plant investment amid shortage

Jan 21 2022

President Joe Biden on Friday praised Intel's plans to spend $20 billion on a new US semiconductor facility, hailing the …

Gas giants' Myanmar exit unlikely to badly damage junta: analysts

Jan 21 2022

The exit of energy titans TotalEnergies and Chevron from Myanmar's billion dollar gas industry has been hailed by rights …

Intel to spend $20 bn on US chip plants amid shortage

Jan 21 2022

US semiconductor giant Intel on Friday announced a $20 billion investment to build two new semiconductor plants in Ohio, …

Reserve Bank chief will be Chile's new finance minister

Jan 21 2022

Chile's leftist president-elect Gabriel Boric, whose victory at the polls last month unsettled the markets, on Friday …

Total, Chevron to exit Myanmar amid rights abuses

Jan 21 2022

Energy giants TotalEnergies and Chevron said Friday they would leave Myanmar following pressure from human rights groups …

UK retail sales suffer record drop on Omicron fears

Jan 21 2022

British retail sales suffered a record drop in December as consumers shunned the high street due to Omicron concerns, …

TotalEnergies to leave Myanmar over human rights abuses

Jan 21 2022

French oil giant TotalEnergies said Friday it would withdraw from Myanmar over "worsening" human rights abuses since …

US extends protection of Venezuelan oil unit Citgo

Jan 21 2022

The US Treasury on Thursday extended by one year a rule that shields Citgo, a US-based unit of Venezuela's state-owned …

In Texas, driverless trucks are set to take over roads

Jan 21 2022

A giant 18-wheel transport truck is barreling down a multi-lane Texas highway, and there is no one behind the wheel.

US charges Belarus officials with air piracy over Ryanair flight diversion

Jan 21 2022

The US Justice department charged four Belarus officials with air piracy Thursday for last year's forced diversion of a …

Netflix stung by slowing subscriber growth

Jan 21 2022

Netflix on Thursday reported cooling subscriber growth as fierce competition and the pandemic weigh heavy despite hits …

US inflation spike also due to generous pandemic stimulus

Jan 20 2022

President Joe Biden blames global supply snarls for the wave of price increases hitting US consumers and businesses, but …

Netflix growth in recent quarter slightly misses mark

Jan 20 2022

Netflix on Thursday reported falling short of estimates on new subscribers, and predicted slower growth in 2022 as …

US stocks fall for 3rd straight day as rally fizzles

Jan 20 2022

US stocks sank again Thursday as investors shunned equities amid lingering worries over surging global inflation and the …

US airlines hopeful for post-Omicron 2022 after Q4 losses

Jan 20 2022

Major US carriers stumbled through another money-losing quarter at the end of the 2021 but remain confident of a travel …

Serbia backs out of controversial Rio Tinto lithium mine: PM

Jan 20 2022

Serbian authorities have abandoned plans to build a controversial lithium mine, the prime minister said Thursday, …

Amazon to open Los Angeles clothing store, in first

Jan 20 2022

Amazon's online commerce empire is taking another step into the real world with plans announced Thursday to open a shop …

US lawmakers advance Big Tech competition bill

Jan 20 2022

A US Senate panel endorsed legislation Thursday that would block tech giants from prioritizing their products over those …

Fed says central bank digital dollar could offer benefits

Jan 20 2022

An official US digital currency could offer potential benefits to American consumers and businesses, but it is not clear …

Stocks rebound after Nasdaq 'correction'

Jan 20 2022

US and European equities mostly moved higher on Thursday, rebounding following a bad day for tech shares as investors …

Tears for Virgil Abloh at posthumous Paris show

Jan 20 2022

There were tears on the catwalk on Thursday as the final Louis Vuitton show by US designer Virgil Abloh, whose death …

US existing home sales end banner year with slump

Jan 20 2022

The US real estate market last year saw the most existing homes sold in 15 years, even as sales slumped in the final …

Russia's central bank calls for crypto crackdown

Jan 20 2022

The Russian central bank proposed Thursday cracking down on cryptocurrencies, a move which if adopted could disrupt the …

European stocks waver after Nasdaq 'correction'

Jan 20 2022

European stock markets wavered Thursday following a bad day for US tech shares as investors remain nervous about surging …

Turkey halts four-month streak of rate cuts

Jan 20 2022

Turkey's central bank on Thursday bowed to market pressure and halted a four-month streak of interest rate cuts that saw …

American Airlines suffers loss as Omicron clouds outlook

Jan 20 2022

American Airlines reported another quarterly loss Thursday after the latest Covid-19 surge dented demand at the end of …

Late designer Virgil Abloh's 'emotional' last show hits Paris

Jan 20 2022

Louis Vuitton presented the final collection by path-breaking designer Virgil Abloh at Paris Fashion Week on Thursday, …

Google spars with EU activists after Austria data defeat

Jan 20 2022

A years-long saga over tech firms transferring data from Europe to the US re-erupted on Thursday, days after Austrian …

Da Vinci should grace new euro notes, says Lagarde

Jan 20 2022

European Central Bank chief Christine Lagarde suggested Thursday that Renaissance master Leonardo da Vinci and …

European stocks mostly fall after Wall Street losses

Jan 20 2022

European stock markets mainly fell Thursday with sentiment jarred by sliding shares on Wall Street, which was rocked by …

Beijing Olympics organisers say app security flaws 'fixed'

Jan 20 2022

An app that Winter Olympics attendees must use has been patched, a Chinese official told AFP Thursday, after cyber …

Emirates to resume US flights after 'temporary' 5G reprieve

Jan 20 2022

Emirates said Thursday it will lift a suspension of flights to several US destinations in a "temporary reprieve" after …

French court says Twitter must reveal measures on online hate

Jan 20 2022

A Paris court on Thursday ruled that Twitter must reveal its measures for fighting hate speech, in one of several cases …

Amazon may quit African HQ deal if blocked, Cape Town court hears

Jan 20 2022

Online retail giant Amazon could pull out of a deal to create its Africa headquarters in Cape Town, if a legal challenge …

Asia bucks Wall St plunge as China rate cut helps property sector

Jan 20 2022

Markets mostly rose Thursday in Asia as investors tentatively returned to buying after recent losses, with Chinese …

5G launches in US without huge impact on flights

Jan 20 2022

Telecom giants AT&T and Verizon began 5G service in the United States Wednesday without major disruptions to flights …

China cuts lending rates, boosting property firms

Jan 20 2022

China further reduced bank lending costs Thursday in the latest move to boost its stuttering economy, providing some …

Asian markets mostly up, China rate cut helps property sector

Jan 20 2022

Markets mostly rose Thursday in Asia as investors tentatively returned to buying after recent losses, with Chinese …

Unilever won't up £50 bn offer for GSK-Pfizer unit

Jan 20 2022

Consumer goods giant Unilever on Wednesday said it would not increase a £50-billion offer for the consumer healthcare …

World Bank chief contrasts Microsoft deal with poor countries' debt

Jan 20 2022

After Microsoft announced it would spend tens of billions of dollars to buy a video game company, World Bank President …

US stocks tumble again as oil prices reach multi-year highs

Jan 19 2022

Wall Street stocks tumbled again Wednesday following a volatile session as markets grapple with the prospect of higher …

United Airlines reports Q4 loss on latest Covid-19 drag

Jan 19 2022

United Airlines reported another quarterly loss Wednesday on the lingering drag from Covid-19 but offered an upbeat …

Wall Street ends lower amid rising oil prices

Jan 19 2022

US stocks reversed course in Wednesday's trading session, ending lower for the second day amid rising oil prices and …

Greece takes delivery of Rafale jets from France

Jan 19 2022

Greece on Wednesday received six Rafale jets from France in a multi-billion-euro arms deal which Athens and Paris claim …

UK inflation hits decades high in cost-of-living squeeze

Jan 19 2022

The annual rate of inflation in Britain rose to a near 30-year high in December, official data showed Wednesday, stoking …

Libya oil company chief appeals for state investment

Jan 19 2022

The powerful head of Libya's National Oil Corporation on Wednesday decried a lack of state investment in the country's …

European stocks climb despite rate-hike fears; oil extends rally

Jan 19 2022

European stock markets rose Wednesday but Wall Street continued its slide lower on concerns about interest rate hikes.

Microsoft muscles in on first wave of the metaverse

Jan 19 2022

US tech giant Microsoft's $69 billion purchase of Activision this week rocked the video game sector, but the deal may …

Retirements common factor in US, UK labor shortage: IMF

Jan 19 2022

An exodus of older workers is the "common thread" behind the baffling labor shortages faced by companies in the United …

French champagne houses toast record sales

Jan 19 2022

French champagne sales rebounded last year to reach a record 5.5 billion euros ($6.2 billion) as demand soared despite …