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India extends micro-credit guarantee plan for five years

"" NEW DELHI: The Union Cabinet on Wednesday approved the continuation of the Credit Guarantee Fund for Micro Units (CGFMU) for five years up to March 2031, a move that will facilitate loans of Rs 12.

Spain's General Strike Links Housing Crisis to Lost Purchasing Power

Spain experienced its first nationwide general strike in 14 years as unions protested soaring housing costs and shrinking purchasing power. Transport and traffic were disrupted in several large cities, although unions and employer groups offered sharply different estimates of participation.

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IEA warns on plummeting oil stocks

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

Global stocks mainly rise, but London flatlines on recession news

Eurozone stocks chased Asia and New York higher Thursday as investors cheered bright earnings and mulled the outlook for US interest rate cuts, but London flatlined after it emerged that Britain has fallen into recession, dealers said.

Airbus posts 11 percent profit drop for 2023

European aviation giant Airbus on Thursday posted an 11 percent drop in net profit to 3.8 billion euros ($4.1 billion) in 2023, with past charges for its space business cutting into earnings.

UK economy slides into recession ahead of election

Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast to lose a general election expected this year.

EU cuts eurozone inflation, growth forecasts for 2024

The European Commission on Thursday cut both its growth and inflation forecasts for the eurozone in 2024, as it warned geopolitical tensions spelled rising uncertainty for the single-currency area's economy.

'She said yes': Aussie PM reveals Valentine's Day engagement

Australian Prime Minister Anthony Albanese on Thursday revealed his Valentine's Day engagement to girlfriend Jodie Haydon, after "she said yes" to a carefully planned marriage proposal.

1,200 couples get hitched in Mexican mass wedding

Some 1,200 couples tied the knot in a mass ceremony on the outskirts of Mexico City on Wednesday, setting a record for the town of Nezahualcoyotl's annual Valentine's Day tradition.

Asian markets mostly up, tracking Wall Street gains

Most Asian markets rose Thursday, tracking a rebound in Europe and New York and following positive remarks from a senior Federal Reserve official that inflation was headed in the right direction.

Germany overtakes Japan as third-biggest economy

Once forecast to become the world's biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade.

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

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

Two vessels involved in Trinidad oil spill

At least two vessels, a barge and a tugboat, were involved in the accident last week that sparked a massive, ongoing oil spill in Trinidad and Tobago, the government of the Caribbean nation said Wednesday.

Victims sue FBI for Epstein probe failings

A dozen victims of disgraced financier Jeffrey Epstein sued the FBI on Wednesday, accusing the agency of failing to adequately investigate allegations against the accused sex offender.

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

The US Federal Reserve should be "careful" about the timing of interest rate cuts, a senior bank official said Wednesday, adding to the cautious tone taken by US central bank officials in recent months about moving too quickly.

Argentina's annual inflation soars above 250% in January

Argentina's monthly inflation slowed slightly in January, but the prices of key goods and services rose 254 percent year-on-year, the statistics agency said Wednesday.

More hunger, less money: Argentine soup kitchens count rations

In an Argentine soup kitchen, empty plastic containers are piling up from hungry visitors, and the cooks are worried their limited supply of pasta will not be enough to fill them.

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

French automaker Renault on Wednesday said it had bounced back into profit in 2023 as sales rose due to new models and price increases that helped it attain a record margin.

Sticky UK inflation stokes Bank of England rate-cut debate

British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut.

Research shows lasting effects of smoking after quitting

Researchers are still discovering how smoking continues to harm people's health even years after they quit, with a new study on Wednesday revealing tobacco's lasting effect on the immune system.

Stocks bounce after data-induced drop

European and US stocks rebounded Wednesday from the previous day's sharp losses, as dealers went fishing for bargains, digested lower-than-expected UK inflation and shrugged off equity losses elsewhere.

German auto supplier Continental says to cut 7,150 jobs

German auto supplier Continental said Wednesday it would cut some 7,150 posts worldwide by 2025 as the difficult switch to electric vehicles forces companies in the sector to retool.

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

French Prime Minister Gabriel Attal on Wednesday warned train controllers against disrupting travel during school holidays as ticket inspectors geared up to strike this weekend.

European stocks rebound from losses

European stock markets rebounded Wednesday from the previous day's sharp losses, as dealers went fishing for bargains, digested lower-than-expected UK inflation and shrugged off equity losses elsewhere.

'Mock marriages' give hope to Thai LGBTQ community

Dozens of same-sex couples were joined in the bonds of mock matrimony in ceremonies across Thailand's sprawling capital on Wednesday, in a dress rehearsal for official unions expected later this year if a change in the law goes ahead.

UK's Labour vows action as anti-Semitism scandal reemerges

Britain's main Labour opposition vowed Wednesday to act decisively over allegations of anti-Semitism, after suspending a second prospective MP over "unacceptable comments" about Israel.

Body Shop's UK business slides into administration

The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has entered administration, administrators said Tuesday, placing thousands of jobs at risk.

Sony hikes profit forecast but says PS5 sales to slow

Japan's Sony upgraded its annual net profit forecast on Wednesday but trimmed its PlayStation 5 unit's sales target, with the flagship console currently in its fourth year on the market.

UK inflation holds at 4.0 percent in January: data

Britain's annual inflation rate remained unchanged in January from the previous month, confounding expectations for an acceleration, official data showed on Wednesday.

Most of Asia tracks Wall St down as US data dents rate cut hopes

Most Asian equities sank Wednesday, tracking a sell-off on Wall Street, as a forecast-topping US inflation report dealt a hefty blow to hopes for an early interest rate cut.

From insurgent to premier, N Macedonia's PM bridges ethnic divide

Former guerrilla commander Talat Xhaferi became the first ethnic Albanian to lead North Macedonia after being elected as caretaker prime minister late last month, highlighting strides in ethnic relations.

Cambodia warns students of 'losing dignity' on Valentine's Day

Authorities in Cambodia have issued a stern rebuke to students to avoid "inappropriate activities" this Valentine's Day, warning them of the perils of "losing dignity".

Fears that pirates are returning to seas off Somalia

The daring attack in December bore unsettling hallmarks of the piracy that once terrorised global shipping off eastern Africa: a cargo vessel hijacked, its crew taken to Somalia, and disappeared.

US House leader rejects Ukraine aid despite Biden's plea

The Republican leader of the US House of Representatives on Tuesday blocked war aid for Ukraine, ignoring President Joe Biden's plea that passing the bill was vital for standing up to "Russian dictator" Vladimir Putin.

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American Marconi Wireless News - Economy (English)