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Saudi Arabia to invest $7 bn in theme parks near Paris: French presidency

France and Saudi Arabia on Monday signed a memorandum of understanding for a six-billion-euro ($7 billion) Saudi investment to create three theme parks near Paris, including one likely to be manga-themed, the office of the French president said.

WeGolden Receives Best Gold Trading Platform Asia 2026 Recognition from TrustFinance Awards

WeGolden has received the Best Gold Trading Platform Asia 2026 recognition from the TrustFinance Performance Awards, highlighting its gold-focused trading environment, platform capabilities, and accessibility across supported Asian markets.

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Bankrupt Sri Lanka looks to expand airline fleet

Cash-strapped Sri Lanka's loss-making national carrier revealed plans Thursday to lease up to 21 aircraft, just two days after the government announced a default on its $51 billion foreign debt.

Without official aid, Durban flood victims dig themselves out

Entering their fourth day without power or water, Durban's poorest residents lined up on Thursday to collect water from burst pipes and dug through layers of mud to retrieve their few possessions.

Citigroup sets aside $1.9 bn due to Russian-Ukraine conflict

Citigroup said Thursday it set aside $1.9 billion in reserves due to Russia's invasion of Ukraine, which was one factor driving a drop in the bank's quarterly earnings.

Turkey again refuses to raise rates to fight record inflation

Turkey's central bank on Thursday brushed aside an inflation reading that has soared past 60 percent and kept its benchmark interest rate steady for the fourth month in a row.

ECB holds tight as inflation tide rises

The European Central Bank on Thursday stood still in the face of record inflation, keeping its stimulus plans and rates unchanged, as the war in Ukraine cast a pall over the eurozone economy.

Eurozone stocks, euro higher before ECB update on rates

Eurozone stock markets and the euro rose Thursday awaiting the outcome of the European Central Bank's latest monetary policy meeting, as traders seek more information on when it will start to raise interest rates to fight the bloc's record-high inflation.

Sri Lankans abandon holiday celebrations for protests

Life usually stops in Sri Lanka's capital during April's holiday period, but with an economic crisis derailing traditional home celebrations, Colombo's city centre is instead teeming with frustrated crowds.

UK to send asylum-seekers to Rwanda

Britain is to send migrants and asylum-seekers who cross the Channel thousands of miles away to Rwanda, according to a controversial deal announced Thursday as the government tries to clamp down on record numbers of people making the perilous journey.

Volkswagen sees impact of Ukraine war despite profit bounce

German auto giant Volkswagen said Thursday its first quarter operating profit increased significantly in 2022, while warning that the "first effects" of the war in Ukraine were beginning to be felt.

Taiwan's TSMC reports record first-quarter revenue

Taiwanese tech giant TSMC posted record revenue for the first three months of the year Thursday as demand soared for chips used in everything from smartphones and cars to missiles.

Asian, eurozone markets rise but inflation haunts outlook

Asian and eurozone stocks rose Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.

Uniqlo operator lifts profit outlook despite China lockdowns

Fast Retailing, the operator of Japanese casualwear giant Uniqlo, revised its annual net profit forecast upwards on Thursday even as business in China is hit by fresh lockdowns.

Judge slashes Tesla's damages to ex-employee in racism case

A San Francisco judge on Wednesday slashed the $137 million in damages Tesla was told to pay a former employee in a racial discrimination case down to $15 million but upheld the verdict.

Asian markets rise but inflation, Ukraine fears linger

Asian stock markets mostly rose in early trade Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.

ECB wrestles with record inflation and war risk

European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and weak growth due to the war in Ukraine.

Biden's biofuel: Cheaper at the pump, but high environmental cost

In an effort to ease Americans' pain at the gas pump, President Joe Biden has announced his administration will ease restrictions on the sale of E15 -- gasoline that includes 15 percent ethanol -- and new investments in biofuels as a whole.

Global stocks mostly up despite another historic inflation report

Stock markets mostly rose and oil prices climbed Wednesday as investors pored over data showing further spikes to inflation.

Argentines march for jobs, food, amid rampant inflation

Thousands of Argentines marched Wednesday for jobs, food, and more social aid as rampant inflation undermines government efforts to raise living standards.

International agencies call for urgent aid to address food insecurity

Major international organizations issued an appeal Wednesday for urgent measures to deal with rising food insecurity in poor countries, including financing to support farmers and increase food supplies.

Half of US warehouse injuries in 2021 at Amazon: unions

Nearly half of all recorded injuries in US warehouses last year occurred at Amazon, according to a report released Tuesday by a coalition of unions.

Stocks, oil rise as inflation soars

Stock markets mostly rose and oil prices climbed Wednesday as investors pored over data showing further spikes to inflation.

Delta shares fly as strong demand offsets jet fuel drag

Delta Air Lines offered an upbeat outlook for the summer travel season on Wednesday, saying strong demand is providing enough pricing power to make up for soaring fuel costs.

JPMorgan Chase says US economy still solid, but risks rising

JPMorgan Chase said the US economy remains on solid footing for the short-term, but warned of heightened longer-term risks due to inflation and the Ukraine war as its reported lower quarterly profits.

India's Infosys to exit Russia business

Indian software giant Infosys said Wednesday it was "transitioning" out of the Russian market following the Ukraine war and conflict of interest accusations levelled at Rishi Sunak, the British finance minister.

Stocks diverge while oil gains tracking soaring inflation

Stock markets diverged Wednesday as investors pored over data showing further spikes to inflation, while oil prices extended gains.

JPMorgan Chase profits fall 42%; warns of hit from inflation, Ukraine

JPMorgan Chase reported Wednesday that quarterly earnings tumbled as the banking giant set aside $902 million for bad loans, citing "downside risks" including the Ukraine war and surging inflation.

Stocks mostly fall, oil gains tracking soaring inflation

Stock markets mostly fell and oil prices extended gains Wednesday as investors pored over data showing further spikes to inflation.

iPhone, Macbook makers halt Shanghai production over Covid

Several electronics companies, including iPhone and Macbook makers, have halted production in the Chinese cities of Shanghai and Kunshan, adding to supply chain woes under Beijing's strict zero-Covid measures.

Asian stocks shrug off red-hot US inflation

Many Asian markets made gains Wednesday, despite losses on Wall Street and across Europe sparked by data showing red-hot US inflation.

UK inflation strikes 30-year high

Britain's annual inflation rate soared to the highest level in three decades last month as energy prices rocket, official data showed Wednesday, worsening a cost-of-living crisis.

Bankrupt Sri Lanka asks citizens abroad to send home cash

Sri Lanka urged its citizens overseas to send home money to help pay for desperately needed food and fuel Wednesday after announcing a default on its $51 billion foreign debt.

Yen drops to 20-year low against dollar

The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and Fed tightening.

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American Marconi Wireless News - Economy (English)