Coin Press - Economy

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Stocks slide on US inflation surge, tech weakness

Global stock markets mostly fell on Wednesday as fresh strikes in the Middle East, a jump in US inflation and a tech sell-off weighed on sentiment.

Trump vows attacks on Iran for 'playing' US over peace deal

President Donald Trump warned on Wednesday that he would renew US attacks on Iran, saying Tehran had taken too long to agree a deal to end the Middle East war and accusing its negotiators of "playing us for suckers."

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Berlin's 'Moors' Street' renamed after years of controversy

A central Berlin street is being officially renamed on Saturday for an 18th-century African philosopher after years of debate over its current name, Mohrenstrasse ("Moors' Street"), viewed as outdated and offensive.

Trump, Intel announce deal giving US a 10% stake in chipmaker

Chipmaker Intel has agreed to give the US government a 10-percent stake in its business, the company and President Donald Trump announced Friday.

Salvadoran man at center of Trump deportations row freed

A wrongly deported Salvadoran man returned to the United States during a fierce row over President Donald Trump's hardline immigration policies was released Friday from prison, where he had been detained on human smuggling charges.

Canada removing tariffs on US goods compliant with free trade deal

Canada will remove all tariffs on US goods that are compliant with the existing North American free trade agreement, Prime Minister Mark Carney said Friday, matching exemptions affirmed earlier this month by Washington.

Ukrainian refuses German extradition in Nord Stream sabotage case

A Ukrainian man arrested in Italy this week over the 2022 sabotage of the Nord Stream underwater gas pipelines from Russia to Europe on Friday refused to be extradited to Germany, reports said.

Wall Street rallies, dollar drops as Fed chief fuels rate cut hopes

Wall Street shares rallied Friday as US Federal Reserve chief Jerome Powell left the door open to cutting interest rates, which also sent the dollar dropping against the euro and other major currencies.

German, French post offices restrict packages to US over tariffs

The postal services of Germany and France on Friday announced a raft of restrictions on package deliveries to the United States due to tariffs imposed by President Donald Trump.

US Fed chair leaves door open to rate cut as Trump steps up pressure

US Federal Reserve Chair Jerome Powell left the door open to cutting interest rates in a keenly watched speech Friday, as he faced down President Donald Trump's intensifying pressure on the central bank.

Wall Street rallies as Fed chief fuels rate cut hopes

Wall Street shares rallied Friday as US Federal Reserve chief Jerome Powell left the door open to cutting interest rates.

US Fed chair leaves door open to rate cut, facing down Trump pressure

US Federal Reserve Chair Jerome Powell left the door open to cutting interest rates in a keenly watched speech Friday, although he warned that risks of higher inflation and a weakening jobs market add up to a "challenging situation."

Australian Rules player body urges 'united approach' after homophobic slur

The union that represents Australian Rules players on Friday called for a "more effective and united approach" to tackling homophobia with the sport embroiled in yet another ugly scandal.

Pressure on Merz as Trump tariffs hit German economy

Germany's economy shrank more than expected in the second quarter as US tariffs battered exports, official data showed Friday, ramping up pressure on Chancellor Friedrich Merz to turn Europe's top economy around.

Australia orders audit of crypto trading giant Binance

Australia has ordered the local arm of the world's largest cryptocurrency exchange, Binance, to appoint an external auditor after identifying "serious concerns" with its money laundering and terrorism financing controls.

Japan city proposes two-hour daily smartphone limit

A Japanese city will urge all smartphone users to limit screen time to two hours a day outside work or school under a proposed ordinance that includes no penalties.

US wine sellers left in limbo despite EU tariff deal

At a wine shop in Washington's Capitol Hill neighborhood, bottles sourced from Europe are becoming costlier to import -- and soon, pricier for customers to buy, the owner says -- thanks to a resident just down the road in the White House.

Under Trump pressure, US Fed chief to walk tightrope in speech

US Federal Reserve chief Jerome Powell is expected to walk a fine line while delivering a closely watched speech at a central banking conference on Friday, as he faces down attacks from President Donald Trump alongside mixed economic data.

Nvidia chief says H20 chip shipments to China not a security concern

Shipping Nvidia's H20 chips to China was "great" for Beijing and Washington and not a security threat, the tech giant's chief said Friday.

Rice prices up 91 pct year-on-year in Japan

Rice prices in Japan soared 90.7 percent in July year-on-year, official data showed Friday, but the rate of increase slowed from previous months offering some relief for Prime Minister Shigeru Ishiba.

Asian markets tick up as investors eye Jackson Hole meeting

Asian markets were mostly up Friday morning ahead of a pivotal speech by the US central bank chief, expected to shed light on possible interest rate cuts in the world's top economy.

Pakistan woos old rival Bangladesh, as India watches on

Decades after Pakistani troops killed his friends in Bangladesh's independence war, veteran freedom fighter Syed Abu Naser Bukhtear Ahmed eyes warming ties between Dhaka and Islamabad with cautious pragmatism.

Meta makes huge cloud computing deal with Google: source

Meta has made a cloud computing deal with Google worth more than $10 billion over the course of six years, a source close to the transaction told AFP Thursday.

Less tax, more luxury: millionaires flock to Dubai

Rich people are flocking to Dubai in record numbers, drawn to the desert city by its zero income tax policy and easy luxury lifestyle that has become harder to maintain elsewhere.

US Supreme Court allows cuts in NIH diversity research grants

A divided US Supreme Court gave the Trump administration the green light on Thursday to cut hundreds of millions of dollars in research grants linked to diversity initiatives.

Stocks waver ahead of Fed speech but EU tariff deal lifts Europe

Stock mostly fell Thursday ahead of a widely awaited speech on US interest rate policy, though a deal on American tariffs for a swathe of EU goods gave a late-session boost to European markets.

Walmart expects better sales, earnings as shoppers squeezed by tariffs

Big-box retailer Walmart reported solid revenue growth Thursday and said that it expects better sales and earnings for the full year, as customers feel the squeeze from higher tariffs imposed by President Donald Trump.

Malnourished Gaza children facing death without aid, says UN

Severely malnourished children in the Gaza Strip will be "certainly condemned to death" unless aid gets to them quickly, UNRWA chief Philippe Lazzarini warned Thursday.

EU gets 15% US tariff for cars, but fails to get wine reprieve

The US and EU released details of a trade deal Thursday that foresees lower car tariffs but no relief for Europe's wine sector, but Brussels said it would push for further concessions.

Stocks slide as investors await key Fed speech

Stock markets mostly fell during cautious trading sessions Thursday, a day before a key speech expected to offer signals about future interest rate cuts in the United States.

EU gets 15% US tariff for cars, fails to secure wine reprieve

Details of a US-EU trade deal published Thursday showed Brussels secured a tariff reduction for cars exported to the United States but failed to win a reprieve for its cherished wine sector.

Russian fuel prices surge after Ukraine hits refineries

Russian fuel prices are at near-record highs, stock exchange data showed Thursday, after a slew of Ukrainian attacks on refineries caused breakdowns during the travel season.

Walmart lifts outlook for sales, earnings despite tariffs

Big-box retailer Walmart hiked its outlook for sales and some earnings in results released Thursday, even as costs of goods imported to the United States rose after President Donald Trump's wide-ranging tariffs this year.

Stocks slip as investors await key Fed speech

Stock markets mostly fell during cautious trading sessions on Thursday, one day before a key speech expected to offer signals about future interest rate cuts in the United States.

Coin Press - Economy (English)