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Featured

US-China talks resume as Trump hails 'total reset' in trade relations

Talks between top US and Chinese officials resumed for a second day Sunday, after US President Donald Trump voiced optimism over the negotiations aimed at de-escalating trade tensions sparked by his aggressive tariff rollout.

Scottish refinery closure spells trouble for green transition

Andrew Petersen is a third-generation oil refinery worker from a small, industrial Scottish town.

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Shell profit up as high oil prices offset Russia hit

British energy giant Shell on Thursday logged soaring first-quarter net profit as surging oil prices offset a sizeable charge linked to its Russia exit.

Turkey inflation spirals to nearly 70 percent in April

Turkey's official inflation rate spiralled to nearly 70 percent in April, data showed on Thursday, posing a huge challenge to President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil.

TikTok to launch ad revenue-sharing program for creators

TikTok on Wednesday announced an ad revenue-sharing program with the social media platform's most prominent creators, moving closer to a model already used by its competitors.

China’s Covid rules batter business confidence: EU Chamber

China's strict zero-Covid policy has led to a plunge in confidence among European companies operating in the country as supply chains are tangled, revenue projections fall and staff leave, according to a business group survey released Thursday.

Asian markets rise as Fed eases fears over huge rate hike

US central bank officials announced an expected half-point lift in borrowing costs -- the biggest since 2000 -- as part of its battle to rein in inflation, while unveiling a timetable to offload its vast bond holdings.

BoE set for fresh rate hike as inflation soars

The Bank of England is on Thursday expected to raise interest rates for a fourth time in a row to contain runaway inflation that is causing a cost-of-living crisis.

OPEC+ eye modest supply boost as demand dented by China Covid rules

OPEC+ members meeting on Thursday are expected to agree a marginal increase in oil production, bolstered by risks to demand amid coronavirus restrictions in China.

Philippines could revive nuclear plant if Marcos wins presidency

A mothballed nuclear power plant built near a fault line and volcanoes in the Philippines during Ferdinand Marcos's dictatorship could be revived if his son wins next week's presidential election.

France and India call for immediate end to Ukraine hostilities

India and France on Wednesday called for "an immediate cessation of hostilities" in Ukraine, with Prime Minister Narendra Modi again stopping short of condemning Russia's invasion of its neighbour.

EU eyes Russian oil import ban amid new bid to evacuate Mariupol

The European Commission on Wednesday proposed a ban within the year on Russian oil imports in its toughest move yet over the invasion of Ukraine, as Moscow said it was offering a new ceasefire to evacuate a steel plant in devastated Mariupol.

US stocks rally, dollar retreats as Fed lifts interest rates

Wall Street stocks rallied and the dollar retreated Wednesday after the Federal Reserve announced a large 50 basis points interest rate increase but ruled out an even bigger hike for the foreseeable future.

Defence deal on the menu as UK rolls out red carpet for Japan's Kishida

UK and Japan leaders Boris Johnson and Fumio Kishida were on Thursday to hold talks in London, where they were set to agree a new defence agreement and measures to reduce dependency on Russian energy supplies.

Nearly half of LGBTQ youths in US considered suicide last year: study

Nearly half of LGBTQ youth aged 13 to 24 in America seriously considered committing suicide last year, according to a survey released Wednesday.

US Fed makes biggest rate increase since 2000 to fight inflation

The Federal Reserve on Wednesday made its biggest rate hike since 2000 with a half percentage point increase meant to crush soaring inflation in the United States.

Uber hit with loss in quarter despite rider rebound

Uber shares skidded Wednesday after the company said it was hit with a big loss in the first three months of this year despite a rebound in its ride-share business.

Maradona's 'hand of God' World Cup jersey auctioned for $9.3 mln: Sotheby's

The jersey that Argentina football legend Diego Maradona wore while scoring twice against England in the 1986 World Cup, including the infamous "hand of God" goal, was auctioned for $9.3 million, a record for any item of sports memorabilia, Sotheby's said Wednesday.

Microbe-based faux beef could save forests, slash CO2

Gradually replacing 20 percent of global beef and lamb consumption with meat-textured proteins grown in stainless steel vats could cut agriculture-related CO2 emissions and deforestation in half by 2050, researchers reported Wednesday.

Sri Lanka crisis will last at least two more years: govt

Sri Lanka will have to endure its unprecedented economic hardships for at least two more years, the country's finance minister said Wednesday while warning of an imminent cash crunch.

US businesses struggled to hire in April amid low unemployment

US private businesses saw surprisingly weak hiring in April, a survey showed Wednesday, amid low unemployment that's made their quest to find workers even more difficult.

EU eyes Russian oil import ban as Moscow strikes western Ukraine

The European Commission proposed a gradual ban on Russian oil imports Wednesday to punish Moscow for its invasion of Ukraine, as Russian forces pounded sites to the east of the country and hit targets in the far west near the EU border.

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.

American Marconi Wireless News - Economy (English)