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Oil falls ahead of US plan for economic war on Iran

Oil prices slipped after strong gains last week while stock markets faltered on Monday as investors awaited details of a US plan to impose massive economic pressure on Iran to end the Middle East war.

Millions of Teslas recalled in China over door handle safety

Tesla is recalling nearly three million cars in China with interior door handles that could hamper a person's ability to exit their vehicle in an emergency, Beijing's national market watchdog said.

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EU negotiators agree landmark law to curb Big Tech

Negotiators from the European Parliament and EU member states agreed Thursday on a landmark law to curb the market dominance of US big tech giants such as Google, Meta, Amazon and Apple.

Mexico president reveals central bank rate hike

President Andres Manuel Lopez Obrador surprised financial markets on Thursday by revealing that Mexico's autonomous central bank had decided to hike interest rates, hours before an official announcement.

P&O Ferries admits breaking law over sackings

Scandal-hit P&O Ferries on Thursday admitted that the company "chose" to break UK employment law when it fired 800 seafaring workers without notice last week.

EU in 'final countdown' to big tech crackdown

EU lawmakers wrangled Thursday to put the final touches on an unprecedented rulebook to curb the market dominance of US Big Tech giants such as Google, Meta, Amazon and Apple.

Ethiopian Airlines appoints new CEO

Ethiopian Airlines, the biggest carrier in Africa, has appointed a new CEO to replace Tewolde Gebremariam who left the company for medical reasons, the company announced Thursday.

War in Ukraine rattles auto parts industry

Ukraine's car parts industry, which supplies many vehicle manufacturers in western European, has taken a battering since the Russian invasion one month ago.

Biodiversity loss threatens economic stability: central banks report

Central banks have underestimated the significant threat posed by biodiversity loss, a new report said Thursday, warning that financial institutions and businesses were destroying the natural assets that they depend on.

Stocks mixed, oil prices dip as West targets Russian gold

Stock markets were mixed while oil prices eased Thursday as investors weighed Western summits on Russia's war in Ukraine and the prospect of sharper interest rate hikes to control inflation.

US durable goods ended streak of gains in February

Orders for big-ticket manufactured goods fell for the first time in five months in February amid a slump in business for civilian aircraft manufacturers, US government data said Thursday.

Amapiano: South Africa's 'pumping' music gift from township to the globe

Manchester United's Paul Pogba, fresh from a haircut, rhythmically juts out his chin to the catchy sounds of amapiano -- the South African music that has catapulted across the world.

Drones, thermal scanners scour China Eastern crash site

Recovery teams deployed drones and thermal imaging equipment Thursday across a mountainous area where a China Eastern plane inexplicably crashed with 132 people on board.

Toshiba shareholders reject spin-off plan in key vote

Toshiba shareholders on Thursday voted against a proposal to split the Japanese conglomerate into two, dealing a fresh blow to management that will likely spell further turmoil for the embattled company.

Oil sees further gains on sanctions talk, while equities slip

Oil prices extended their gains Thursday on growing fears of further Russia sanctions that could hit already thin supplies, while most equity markets retreated owing to surging inflation and central bank plans to sharply hike interest rates.

Some wins for US labor, but big picture stays tough

Lauded by President Joe Biden and bolstered by recent triumphs at Starbucks, the US labor movement has had reasons to cheer as attention focuses on upcoming unionization votes at Amazon.

Toshiba holds key shareholder vote on spin-off plan

Toshiba shareholders will vote Thursday on a plan to split the embattled Japanese conglomerate into two that has already faced staunch opposition from key investors.

Another US state passes abortion 'bounty hunter' law

Another US state passed a law allowing abortion providers to be sued in civil court Wednesday, as conservatives across the country ramp up their effort to overturn long-held reproductive rights.

Colombia makes history with two black VP candidates

For the first time, two black Colombians will stand as running mates in May's presidential elections.

'Rhino bond' charges onto markets to save S. African animals

Critically endangered black rhinos in South Africa will get help from an unusual source: Wall Street, where institutional investors have expressed a willingness to buy a new type of bond being issued by the World Bank that will pay for successful efforts to save the animals.

YouTube offers thousands of free TV episodes -- with ads

YouTube on Wednesday began streaming some 4,000 television episodes from shows like "Hell's Kitchen" and "Heartland" to US viewers as the site tries to capture viewers in a fiercely competitive market.

Stellantis, LG partner to build EV batteries in Canada

US-European automaker Stellantis is partnering with LG Energy Solution to make batteries for electric vehicles at a massive new plant in Canada, the largest ever investment in the country's auto sector, officials said Wednesday.

Sibling rivalry? Teenage pilot's bid to pip high-flying sister

A teenage pilot took off Wednesday determined to go one better than his record-breaking sister by becoming the youngest person to fly solo around the world.

Fire damages main Lagos bridge, dozens of shops burnt

A fire on Wednesday badly damaged a main bridge in Nigeria's commercial capital Lagos, razing dozens of shops and risking more traffic chaos, the emergency services and witnesses said.

No paycheck for popes, Francis says

He is rash, bad at football and sometimes frustrated at not having his own cash to spend: Francis may wear papal cassocks, but they hide a normal man beneath, he says in a new book.

US new home sales fell but supply crunch eases in February

After months of high prices and scarcity, the supply of new US homes on the market increased in February, though sales fell once again amid rising lending rates, according to government data released Wednesday.

UK confronts cost of living crisis with inflation-fighting budget

British finance minister Rishi Sunak on Wednesday launched plans to ease a cost of living crisis, with UK inflation set to spike to a 40-year high on Ukraine fallout.

In Spain, soaring prices fuel growing social unrest

A lorry drivers' strike, mass protests by farmers and fishermen, industrial production stoppages: record inflation levels have fuelled growing anger with Spain's left-wing government as energy prices go through the roof.

Oil prices jump, stocks mixed with spotlight on surging inflation

Oil prices rallied Wednesday, adding to soaring inflation concerns, while stock markets diverged.

Ukraine war rattles EU green farming plan

Scientists are urging Europe not to delay the transition to greener agriculture in response to Russia's invasion of Ukraine, which threatens global wheat supplies and raises fears over food shortages.

Power blackouts, soaring fuel prices shut Nigerian businesses

For eight years, Nigeria hairdresser Damy Idowu ran her business in a commercial district of Lagos, surviving growing inflation, recession and the global pandemic.

Black box of crashed China Eastern jet recovered

A black box from the crashed China Eastern airliner was recovered on Wednesday as investigators try to piece together what made a jet carrying 132 passengers nosedive into a mountainside in southern China.

UK budget targets living costs as inflation spikes

Britain unveils Wednesday a budget update aimed at easing a cost of living crisis, as data revealed inflation spiking to a three-decade high on soaring energy prices.

Latin America's IT brain drain a regional challenge

Safety concerns at home in Rio de Janeiro and a bumper pay packet convinced Bruno Ribeiro to join the burgeoning ranks of Latin Americans moving to California to work in IT.

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American Marconi Wireless News - Economy (English)