Coin Press - Economy

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Complaints upheld against Swiss TV commentary on Israeli bobsleigher

Switzerland's broadcasting complaints authority announced Friday that a TV commentary questioning the legitimacy of an Israeli bobsleigher competing at the Milan-Cortina Winter Olympics had breached discrimination rules.

Monaco taken off global money-laundering 'grey list'

Global anti-money laundering watchdog the Financial Action Task Force (FATF) said Friday it had removed Monaco and three other countries from its "grey list", two years after it put the principality among its territories requiring increased monitoring.

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Stock markets rise after Nvidia's Intel deal, Fed rate cut

Stock markets mostly rose Thursday after the Federal Reserve cut interest rates and US chip giant Nvidia announced a $5 billion investment in struggling rival Intel.

Clashes, disruption in France on day of anti-Macron 'anger'

French protesters were on Thursday staging a day of nationwide protests and strikes in a show of anger over President Emmanuel Macron's austerity policies, causing widespread disruption.

Bank of England holds rate as inflation stays high

The Bank of England kept its key interest rate at four percent Thursday, as elevated UK inflation offsets the country's stagnant economic growth.

London Fashion Week hopes to usher in new era with leadership change

London Fashion Week, which is under new leadership after 16 years, opens Thursday with hopes of reinvigorating its runway schedule and easing the financial woes of its young designers.

Deliveroo CEO to step down following DoorDash takeover

Will Shu, founder of food delivery app Deliveroo, will step down as its chief executive once US rival DoorDash completes a takeover of the British group, a statement said Thursday.

Stock markets fluctuate after Fed rate cut

European stock markets rose while Asia was mixed on Thursday after the US Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline.

Germany's Continental launches IPO of car parts unit

Trading in Continental's struggling auto parts division got off to a slow start Thursday as it was listed on the Frankfurt stock exchange, the latest upheaval in Germany's car industry.

Asian markets fluctuate after Fed cuts interest rates

Equities wavered in Asia on Thursday after the Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline despite boss Jerome Powell warning about the struggling jobs market.

Meta expands AI glasses line in a bet on the future

Meta showed off new smart glasses on Wednesday as it continued to bank on a lifestyle shift toward blending reality and virtual space despite the efforts inflicting heavy financial losses.

Tourists return to Peru's Machu Picchu after community protest

Tourists were back at Peru's ancient Inca citadel of Machu Picchu Wednesday, officials said, after a protest by residents forced the evacuation of hundreds of stranded visitors.

US stocks finish mixed as Fed cuts rates for first time in 2025

US stocks finished mixed Wednesday while the dollar moved higher as markets digested the Federal Reserve cutting interest rates for the first time in 2025 and signaling it could enact two more cuts this year.

US Fed makes first rate cut of 2025 on employment risks

The US Federal Reserve on Wednesday lowered interest rates for the first time this year, flagging slower job gains and risks to employment as policymakers face heightened pressure under President Donald Trump.

Canada central bank cuts key lending rate citing Trump tariffs

Canada's central bank cut its key lending rate on Wednesday, offering a boost to borrowers in an economy squeezed by US President Donald Trump's trade war.

EU says India's Russia links jeopardise closer ties

The European Union's top diplomat warned Wednesday that its push for closer ties with India could be hampered by New Delhi's purchases of Russian oil and involvement in military drills with Moscow.

Stocks, dollar calm ahead of expected US rate cut

Stock markets and the dollar steadied as investors expected the US Federal Reserve to cut interest rates Wednesday to shore up the world's biggest economy.

Nvidia CEO disappointed over China chip ban report

Nvidia chief executive Jensen Huang on Wednesday said he was disappointed by a report that Beijing has barred major Chinese tech companies from buying his company's world-leading chips, a crucial component in the generative AI revolution.

Man Utd post sixth straight annual loss despite record revenues

Manchester United on Wednesday reported an annual net loss for the sixth consecutive year despite record revenues of £666.5 million ($910 million).

AI may boost global trade value by nearly 40%: WTO

Artificial intelligence could boost the value of global trade by almost 40 percent by 2040 thanks to cost reductions and productivity gains, the World Trade Organization said Wednesday.

Germany's Merz vows 'autumn of reforms' in turbulent times

Germany will need sweeping change to remain free and prosperous, Chancellor Friedrich Merz warned Wednesday, calling on the country to unite in the face of Russian aggression, economic woes and rising extremism.

EU says India's Russian oil purchases, military drills hinder closer ties

India's participation in military exercises with Moscow and its purchases of Russian oil "stand in the way of closer ties" with the EU, the bloc's top diplomat Kaja Kallas said on Wednesday.

Stocks, dollar calm before expected US rate cut

Stock markets and the dollar steadied as investors expected the US Federal Reserve to cut interest rates Wednesday to shore up the world's biggest economy.

Ben & Jerry's co-founder quits, says independence 'gone'

The co-founder of Ben & Jerry's has resigned from the ice cream brand after saying his company know for its social activism has lost "the independence to pursue our values" under the ownership of British giant Unilever.

Nestle share price slips as chairman follows CEO out the door

Nestle shares slipped on Wednesday after the Swiss food giant announced the earlier-than-expected departure of its chairman, just weeks after the sudden ouster of its chief executive over an office relationship.

Peru evacuates 1,600 tourists from Machu Picchu amid protest

Peru has evacuated around 1,600 tourists from a train station that serves the Inca citadel of Machu Picchu after a local protest escalated into clashes with police.

UK inflation stable ahead of central bank rate call

British inflation was unchanged in August, official data showed Wednesday, fuelling expectations that the Bank of England will not cut interest rates again at its meeting this week.

Lower shipments to US, China weigh on Singapore August exports

Singapore's exports slid again in August according to official figures out Wednesday, as shipments to its biggest markets -- the US and China -- keep dropping.

EU business lobby head says China rare earths snag persists

European firms still face challenges in securing access to crucial rare earths from China, a business lobby warned Wednesday, despite a July deal to speed up exports.

Asian stocks swing as traders bide time ahead of US rate decision

Asian stock markets were mixed Wednesday as investors bided their time ahead of an expected US interest rate cut later in the day.

US Fed set for first rate cut of 2025 as Trump pressure looms

The US Federal Reserve is poised to make its first interest rate cut of 2025 on Wednesday, but it battles competing forces in the path forward -- with heightened political pressure and likely divisions among its ranks.

Broadway jeering Caesars Times Square casino bet

The casino industry's quest to bring gambling to Manhattan faces a key test this week when an advisory panel weighs a Times Square proposal that has enraged much of Broadway.

Nestle says chairman Paul Bulcke to step down

Nestle on Tuesday announced that its longtime chairman Paul Bulcke had decided to step down, just weeks after the Swiss food giant suddenly fired its chief executive over an office relationship.

Malawi votes in economic gloom as two presidents battle for power

Malawians voted Tuesday in elections overshadowed by soaring prices and crippling fuel shortages, with the economic gloom a challenge to President Lazarus Chakwera's bid for a second term.

Coin Press - Economy (English)