Business and Tech

Summer travel misery ahead as industry workers in revolt

AFP - 5h ago

A spiral of worker strikes in Europe's crucial aviation sector and cancelled flights at a time when millions of …

US recession would be 'necessary price' to defeat inflation: IMF chief

AFP - 12h ago

With inflation rising sharply, and the Federal Reserve raising interest rates, the United States is facing an increased …

Stocks and oil rally as rate-hike worries ebb

Jun 24 2022

Global stock markets and oil prices jumped higher on Friday following recent heavy losses as the weakening economic …

Drought hits Italy's hydroelectric plants

Jun 24 2022

Hydroelectric power in Italy has plunged this year thanks to a drought that has also sparked water restrictions and …

Ryanair, Brussels Airlines strikes disrupt Europe air travel

Jun 24 2022

Strikes by staff at Ryanair and Brussels Airlines over pay and working conditions forced the cancelation of dozens of …

Stocks and oil rally

Jun 24 2022

Global stock markets and oil prices jumped higher on Friday following recent heavy losses on fears that interest rate …

Global trade unions urge UK to resolve rail strike row

Jun 24 2022

International transport trade unions on Friday urged London to negotiate a swift end to Britain's biggest rail strike in …

Stocks, oil prices push higher

Jun 24 2022

Global stock markets and oil prices rose Friday following recent heavy losses on fears that interest rate hikes aimed at …

European stocks, oil prices rebound

Jun 24 2022

European stock markets and oil prices recovered Friday following heavy losses this week on fears that interest rate …

African economies see reasons for optimism despite crises

Jun 24 2022

From Covid-19 to the war in Ukraine, external crises have put pressure on African economies, but many on the continent …

Markets rise as recession talk tempers rate hike expectations

Jun 24 2022

Stocks climbed Friday following another rally on Wall Street as investors try to process central bank moves to fight …

Asian markets rise as recession talk tempers rate hike expectations

Jun 24 2022

Stocks rose in Asia on Friday following another rally on Wall Street as investors try to process central bank moves to …

Germany raises gas alert level after Russia cuts supply

Jun 24 2022

Germany moved closer to rationing natural gas on Thursday as it raised the alert level under an emergency plan after …

Chile workers end strike at world's largest copper producer

Jun 24 2022

Workers at Chile's state mining company Codelco, the world's largest copper producer, called off an open-ended strike …

Recession worries weigh on euro as US stocks advance

Jun 23 2022

The euro retreated against the dollar Thursday as economic data pointed to increased prospects of recession in Europe, …

Big Oil meeting with US govt cordial but no miracle gas price fix

Jun 23 2022

Biden administration officials and oil industry executives huddled in Washington on Thursday to discuss potential steps …

Major US banks can weather severe economic downturn: Fed

Jun 23 2022

The largest banks operating in the US market have sufficient resources to withstand a severe economic downturn and …

Apple, Android phones targeted by Italian spyware: Google

Jun 23 2022

An Italy-based firm's hacking tools were used to spy on Apple and Android smartphones in Italy and Kazakhstan, Google …

US orders all Juul vaping products off the market

Jun 23 2022

The US Food and Drug Administration on Thursday said it was ordering all products produced by Juul Labs off the market …

Fed chief says pandemic aid not primary driver of US inflation

Jun 23 2022

Federal Reserve Chair Jerome Powell on Thursday downplayed the idea that government pandemic aid was the key factor …

Biden summons Big Oil to meet on gas prices

Jun 23 2022

The Biden administration has called oil giants to Washington Thursday to discuss what can be done to address runaway …

In Amazon region hit by double murder, poverty fuels violence

Jun 23 2022

A short walk from the spot where British journalist Dom Phillips and Brazilian Indigenous expert Bruno Pereira set out …

Inflation-hit Turkey sticks to Erdogan's war on higher rates

Jun 23 2022

Turkey's central bank on Thursday bucked global trends once again and kept its benchmark interest rate stable despite …

Euro retreats as recession prospects grow

Jun 23 2022

The euro retreated against the dollar Thursday as economic data pointed to increased prospects of recession in Europe.

Freedom and fear: the foundations of America's deadly gun culture

Jun 23 2022

It was 1776, the American colonies had just declared their independence from England, and as war raged the founding …

Instagram trials AI tool to verify age of users

Jun 23 2022

Photo sharing platform Instagram said on Thursday it was starting to trial a tool that relies on artificial intelligence …

Euro, pound drop as recession prospects grow

Jun 23 2022

The euro and pound retreated against the dollar Thursday as economic data pointed to increased prospects of recession in …

As Russia cuts gas, coal makes a comeback in Europe

Jun 23 2022

Russia's gas cuts to Europe have prompted a clutch of countries to revert to burning coal, raising concerns as the EU …

Pfizer sets sights on elimination of blinding disease trachoma by 2030

Jun 23 2022

Pfizer on Thursday said it would extend until 2030 a drug donation programme aimed at eliminating trachoma, an eye …

Inflation 'shock' punishes Eurozone economy in June: survey

Jun 23 2022

Economic growth in the eurozone plummeted in June, a key survey showed on Thursday, as high prices took the wind out the …

Markets fluctuate, oil falls again as recession warnings build

Jun 23 2022

Asian markets mostly rose Thursday on bargain buying after the previous day's battering, though oil extended losses …

Monkeypox vaccine maker Bavarian Nordic ready to meet demand

Jun 23 2022

As the lone laboratory manufacturing a licensed vaccine against monkeypox, Danish company Bavarian Nordic has seen its …

China's Xi calls for stronger fintech oversight, security

Jun 23 2022

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better …

Workers in Chile strike at world's largest copper producer

Jun 23 2022

Workers at Chile's state mining company Codelco, the largest producer of copper in the world, launched an open- ended …

Workers strike at world's largest copper producer, Chile's Codelco

Jun 23 2022

Workers at Chile's state mining company Codelco, the largest producer of copper in the world, went on an "indefinite" …

Passenger jet catches fire while landing at Miami airport

Jun 22 2022

Officials arrived in Miami Wednesday to investigate a passenger jet that caught fire as it touched down at the US city's …

Oil prices tumble on recession fears as equities decline

Jun 22 2022

Oil prices fell Wednesday on worries over weakening demand in the slowing global economy as Federal Reserve Chief Jerome …

Recession fears send oil prices plunging, equities diverge

Jun 22 2022

Wall Street stocks climbed Wednesday as the US Fed chief stressed the need to combat decades-high inflation, but …

US Fed chair admits recession a 'possibility' after rate hikes

Jun 22 2022

The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually …

Biden seeks fuel tax suspension to help fight inflation pain

Jun 22 2022

Joe Biden pitched a temporary fuel tax break Wednesday to help American drivers face the highest inflation in four …

Google agrees to pay for beefed-up Wikipedia service

Jun 22 2022

Google has agreed to pay for ramped-up Wikipedia services, part of a growing trend for the US tech giant to strike …

Troubled Canada pipeline no longer profitable: budget watchdog

Jun 22 2022

The controversial Trans Mountain pipeline expansion project, now under construction in western Canada after being …

New antibody therapies fight cancer, drum up investment

Jun 22 2022

Antibody therapies are offering promising treatment breakthroughs for cancer and other illnesses, generating greater …

UK inflation hits fresh 40-year high in cost-of-living crisis

Jun 22 2022

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers' wages in …

US could face more inflation 'surprises': Fed's Powell

Jun 22 2022

The US economy is strong but faces an "uncertain" global environment and could see further inflation "surprises," …

Google agrees to pay for Wikipedia content

Jun 22 2022

Google has agreed to pay Wikipedia for content displayed by its search engine, mirroring deals the US tech giant has …

Xi warns about 'expanding military alliances' at BRICS summit: state media

Jun 22 2022

Chinese President Xi Jinping warned against "expanding" military ties on Wednesday in a speech ahead of a virtual summit …

Biden seeks three-month federal gas tax holiday as prices skyrocket

Jun 22 2022

US President Joe Biden will ask Congress Wednesday to suspend the federal gas tax for three months as skyrocketing …

Stocks, oil dive as recession fears return after brief market respite

Jun 22 2022

Equities and oil prices tumbled Wednesday after a brief respite from last week's painful rout across world markets, with …

UK inflation hits fresh 40-year high

Jun 22 2022

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers' wages …

Sri Lanka bets on casino magnate to revive wrecked economy

Jun 22 2022

Sri Lankan casino magnate Dhammika Perera entered parliament on Wednesday with a mandate to revive the bankrupt island …

Air tickets set to keep climbing from pandemic low: experts

Jun 22 2022

Propelled by inflation, the price of air tickets has begun to take off again after tumbling during the pandemic, a …

Spain bets on green hydrogen in clean energy push

Jun 22 2022

As Europe seeks to move way from fossil fuels, Spain is racing ahead in developing green hydrogen, aided by a growing …

Ecuadoran Indigenous protester dies in anti-government demos

Jun 22 2022

An Indigenous protester died Tuesday in clashes with law enforcement during a ninth day of demonstrations against the …

Ancient Afghan Buddhist city threatened by Chinese copper mine

Jun 22 2022

An ancient Buddhist city carved out of immense peaks near Kabul is in danger of disappearing forever, swallowed up by a …

Iran's oldest pistachio trader readies daughter to one day take over

Jun 22 2022

Tucked away in Tehran's famed Grand Bazaar, Iran's oldest pistachio wholesaler quietly prepares a small revolution -- he …

Markets struggle as recession fears weigh heavily

Jun 22 2022

Equities struggled Wednesday after a brief respite from last week's painful rout across world markets, with recession …

Ecuadoran Indigenous protester dies as anti-government demos

Jun 22 2022

An Indigenous protester died Tuesday in clashes with law enforcement during a ninth day of demonstrations against the …

Delayed Tokyo 2020 Olympics cost double original estimate

Jun 22 2022

The final price tag for last year's Tokyo Olympics was more than double the city's original 2013 estimate after a …

US high court denies Bayer bid to block Roundup weedkiller lawsuits

Jun 22 2022

The US Supreme Court on Tuesday declined an appeal from Bayer-owned Monsanto that aimed to challenge thousands of …

Ecuadorans teargassed at demos that military deems 'grave threat'

Jun 22 2022

Police used tear gas Tuesday to disperse hundreds of Ecuadorans taking part in a ninth day of Indigenous-led fuel price …

Global stocks bounce after sharp selloff; yen falls

Jun 21 2022

Stock markets rose Tuesday as calm returned following last week's rout, but analysts warned that recession fears have …

Kellogg pops as it plans spin-off of legacy cereal business

Jun 21 2022

Iconic breakfast food brand Kellogg became the latest US corporate giant to announce a breakup, unveiling plans Tuesday …

US businessman John Textor completes Lyon takeover

Jun 21 2022

Lyon president Jean-Michel Aulas said on Tuesday a deal had been struck for US businessman John Textor to complete a …

White House says concerned about recession but US economy strong

Jun 21 2022

The American economy remains strong, a White House economist asserted Tuesday, while acknowledging President Joe Biden's …

US vows enforcement as ban on Xinjiang imports takes effect

Jun 21 2022

The United States on Tuesday promised enforcement as a landmark ban took effect on most imports from Xinjiang, the …

More strike calls cloud summer for European low-cost airlines

Jun 21 2022

Europe's low-cost airlines face a summer of discontent as staff in Spain and France announced new strikes over labour …

UK hit by biggest rail strike in over 30 years

Jun 21 2022

Travel across British railway stations ground to a halt Tuesday as widespread strike action billed as the biggest in …

Markets climb as calm returns after sharp selloff

Jun 21 2022

Stock markets rose Tuesday as calm returned following last week's rout, but analysts warned that recession fears have …

Ecuador military calls Indigenous protests a 'grave threat'

Jun 21 2022

Thousands of Ecuadorans took to the streets Tuesday for a ninth day of Indigenous-led fuel price protests, as the …

US home prices top $400,000 for first time, crimping May sales

Jun 21 2022

The median US home price broke above $400,000 for the first time, sending existing home sales in May falling for the …

Oil turbulence could last five years, ExxonMobil boss warns

Jun 21 2022

Consumers must be prepared to endure up to five years of turbulent oil markets, the head of ExxonMobil said Tuesday, …

Most markets climb as calm returns after sharp sell-off

Jun 21 2022

Asian and European stocks mostly rose Tuesday as calm returned following last week's rout, but analysts warned of more …

Musk says Twitter deal remains deadlocked over fake users

Jun 21 2022

Business magnate Elon Musk said Tuesday that his $44 billion move to take over Twitter remained held up by "very …

Dead rivers: The cost of Bangladesh's garment-driven economic boom

Jun 21 2022

Bangladeshi ferryman Kalu Molla began working on the Buriganga river before the patchwork of slums on its banks gave way …

Germany opens anti-cartel probe into Google Maps

Jun 21 2022

Germany's anti-cartel watchdog said Tuesday it has opened a probe into Google Maps over restrictions that may be giving …

Eighth day of Indigenous fuel price protests in Ecuador

Jun 21 2022

Thousands of Indigenous people and members of other disgruntled groups marched into Ecuador's capital on the eighth day …

Asian markets climb as calm returns after sharp sell-off

Jun 21 2022

Equities rose Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts warned of …

Air industry could fly back into black next year, IATA says

Jun 21 2022

Global air transport is on course to return to profit after two pandemic-battered years but the war in Ukraine and the …

Dutch join Germany, Austria, in reverting to coal

Jun 21 2022

The Dutch joined Germany and Austria in reverting to coal power on Monday following an energy crisis provoked by …

Petrobras CEO quits in fuel price standoff with Bolsonaro

Jun 20 2022

The CEO of Brazil's state-owned oil company Petrobras, who has stayed in his post despite being fired by Jair Bolsonaro …

European stocks rise despite recession worries

Jun 20 2022

Europe's main stock markets rebounded on Monday after a mixed Asian session following tumultuous sessions last week over …

Africa needs $25 bn a year for full electricity access: IEA

Jun 20 2022

The number of Africans with access to electricity fell during the Covid pandemic, but $25 billion in annual investments …

Sanctioned Russia becomes China's main source of oil

Jun 20 2022

China ramped up crude oil imports from Russia in May, customs data showed Monday, helping to offset losses from Western …

European stocks aim higher despite recession worries

Jun 20 2022

Europe's main stock markets rose on Monday after a mixed Asian session, as traders set aside recession fears and French …

Strike forces cancellation of all Brussels flights

Jun 20 2022

Brussels Airport cancelled all outbound flights on Monday after most security staff joined a nationwide strike for …

Stock markets mixed as recession worries persist

Jun 20 2022

Markets were mixed Monday having pared earlier losses but sentiment continues to be clouded by fears that central bank …

Air industry recovery gathering pace despite uncertainty: IATA

Jun 20 2022

Air passengers are expected to hit 83 percent of pre-pandemic levels this year and the aviation industry's return to …

'Huge uncertainty' for EU firms over China's Covid curbs, chamber warns

Jun 20 2022

Many European firms are rethinking their investments in China because of its strict Covid controls, a top business group …

Bankrupt Sri Lanka opens IMF talks, begins shutdown

Jun 20 2022

Sri Lanka closed schools and halted all non-essential government services on Monday, beginning a two-week shutdown to …

Asian markets, oil prices extend losses on recession worries

Jun 20 2022

Asian markets fell again Monday and oil prices extended losses on growing fears that central bank moves to rein in …

US recession not 'inevitable,' Treasury secretary says

Jun 19 2022

A recession in the United States is not "inevitable" but the economy is likely to slow, Treasury Secretary Janet Yellen …

Italy's Eni joins giant Qatar gas project after Russian cuts

Jun 19 2022

Italian company Eni on Sunday joined Qatar Energy's $28.75 billion project to expand production from the world's biggest …

Layoffs and exits: Firms in China teeter under zero-Covid pressure

Jun 19 2022

Fiona Shi lost her job twice during the pandemic -- first, in 2020 when Covid ravaged the travel industry, and then this …

Central banks walk inflation-recession tightrope

Jun 19 2022

Central banks have ramped up their battle against runaway inflation, a necessary remedy that could have the adverse side …

Store workers vote to form first US Apple union

Jun 19 2022

A majority of employees at a US Apple store have voted to form the tech giant's first union, in the wake of similar …

The battle to build a child-friendly metaverse

Jun 19 2022

As a young woman straps on her vest and headset and becomes immersed in a virtual world, Mainak Chaudhuri talks …

Inflation, subsidy reform hit stomachs in isolated Iran

Jun 19 2022

Outside his butchery in the south of Iran's capital, Ali cuts up a sheep carcass for customers who, like him, have seen …

Warehouse business catches fire, boosted by pandemic, e-commerce

Jun 19 2022

The rise of e-commerce and the logistical nightmare created by the Covid-19 pandemic have caused a surge in demand for …

Apple store workers vote to form their first US union

Jun 19 2022

A majority of employees at a US Apple store have voted to form a union, a first for the tech giant, which has so far …

Sudan wheat harvest waits to rot as hunger crisis looms

Jun 19 2022

Looking at the sacks of wheat stacked in Imad Abdullah's small home, no one would guess that Sudan's food security is …

Indigenous protesters in Ecuador defy state of emergency

Jun 18 2022

Indigenous protesters demanding cheaper fuel in Ecuador defied a state of emergency Saturday, pressing on with road …