Coin Press - Economy

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Oil slumps after hitting peak, US indices reach new records

Oil prices struck a four-year high Thursday on worries about a resumption of hostilities in the Middle East, before slumping to end the day.

Venezuela leader hikes minimum wage package by 26%

Venezuela's acting president Delcy Rodriguez on Thursday hiked the minimum wage package by 26.3 percent, to $240, in an attempt to quell growing discontent over difficult living conditions.

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US eases Cuba oil embargo but demands 'dramatic' change

The United States on Wednesday eased an oil embargo on Cuba but Secretary of State Marco Rubio said the communist-run island must change "dramatically," saying it had only itself to blame for an economic crisis.

IMF urges US to work with partners to ease trade restrictions

The IMF on Wednesday called on the United States to work with trading partners and find ways to mutually ease trade curbs, as it issued a review of the world's biggest economy.

Iran negotiators arrive in Geneva for high-stakes US talks

An Iranian delegation headed by its top diplomat arrived in Geneva on Wednesday for talks with the US, as the Islamic republic's president struck an upbeat tone about the prospect for a negotiated agreement to avert fresh conflict.

Eleven men lured into Russia war returned to South Africa

Eleven South African men who were allegedly lured into fighting for Russian forces in Ukraine returned to their home country Wednesday, AFP reporters saw.

Stock markets strike record highs as AI concerns ease

Stock markets in Asia and Europe reached record highs Wednesday on easing worries about the AI sector and ahead of chip behemoth Nvidia releasing its earnings.

Guinness maker Diageo cuts outlook on weak US, China demand

Diageo, the maker of Guinness stout and Smirnoff vodka, cut its sales outlook and slashed shareholder payouts Wednesday, as its new chief executive seeks to revive the struggling drinks group.

Swiss-EU deals package to be signed next week

After years of negotiations, Switzerland and the European Union will next week sign a package of agreements aimed at simplifying and harmonising their ties, Bern and Brussels said on Wednesday.

Stock markets hit record highs on easing AI concerns

Stock markets in Asia and Europe reached record highs Wednesday on easing worries about the AI sector which many see as overvalued and a threat to several industries.

Germany's Merz meets Xi in China, seeking closer ties

German Chancellor Friedrich Merz met with Chinese leader Xi Jinping in Beijing on Wednesday, hoping to bolster ties with his country's largest trade partner and high-tech rival as Europe's biggest economy struggles.

Aston Martin slashes staff as US tariffs hit carmakers

British luxury carmaker Aston Martin Lagonda on Wednesday announced plans to cut up to 20 percent of its workforce after widening annual losses on US tariffs and weak Chinese demand.

South Korea birth rate jumps but still under key fertility threshold

South Korea has recorded its biggest annual birth rate bump in 15 years, official figures showed Wednesday, but still far below the threshold needed to stop its population shrinking.

Germany's Merz arrives in China for talks on trade, security

German Chancellor Friedrich Merz touched down in China on Wednesday, beginning his inaugural visit to his country's largest trade partner and a high-tech rival as Europe's biggest economy struggles.

Tech firms lead Asian markets rally as Seoul, Tokyo hit records

Stock markets in Seoul and Tokyo surged to record highs as tech firms led an Asia-wide rally Wednesday following a rebound in their counterparts on Wall Street.

Economy not Russia is big fear on Finland's closed frontier

A deserted cafe and petrol station near the Niirala border crossing to Russia shows how life has been on hold since Finland shut the frontier with its giant neighbour in December 2023.

Alexandria bids farewell to historic tram in latest urban upheaval

Along Egypt's Mediterranean coast, the oldest tram in Africa and the Middle East rumbles for a final few weeks before its removal -- the latest urban upheaval Alexandrians say is hollowing out their city's identity.

'Jaws' harpoon gun and 'Star Wars' treasures lead LA film and TV auction

A harpoon gun from "Jaws," a jacket worn by "The Terminator," and a "Star Wars" lightsaber hilt and C-3PO head are among the eye-catching items to be sold at auction next month.

Tech shares rebound as markets weigh AI impacts

Tech shares bounced on Tuesday following the prior session's selloff as markets weigh the impact of artificial intelligence on incumbent technology companies while navigating tariff uncertainty.

Warner Bros. 'reviewing' new takeover bid from Paramount

Warner Bros. Discovery said Tuesday it has received a revised acquisition proposal from Paramount Skydance, even as the US media giant's board reaffirmed its support for a previously announced buyout deal with Netflix.

Stocks bounce as traders assess AI fallout, tariffs

European and US stocks bounced higher as investors recovered from a fresh bout of angst over AI and new US tariffs.

Senegal PM vows to double penalty for same-sex relations

Senegal's prime minister Tuesday unveiled legislation that would double the maximum penalty for same-sex relations, making them punishable by up to 10 years in prison, in a crackdown condemned by human rights groups.

Novo Nordisk to slash prices of weightloss drugs in US

Danish drugmaker Novo Nordisk, which is struggling with competition for its anti-obesity treatments, said Tuesday that it will sharply cut prices for its flagship drugs in the US, announcing a 50 percent cut for Wegovy and 35 percent for Ozempic.

Greece set new tourism record in 2025

Greece in 2025 set new records in tourism arrivals and revenue, the country's central bank said Tuesday, continuing an upward trend for the third straight year according to the tourism ministry.

Stocks fluctuate as traders assess AI fallout, tariffs

Stock markets fluctuated on Tuesday as US President Donald Trump's new tariffs on imports came into effect, with investors also weighing renewed AI concerns.

China targets Japanese companies over military ties

China took action against 40 Japanese companies and entities on Tuesday, citing national security concerns, the latest escalation of a months-long row that has seen tourism to Japan plummet.

Asian markets mixed as traders weigh AI and tariffs outlook

Equities swung in Asian trade on Tuesday as investors weighed fresh AI fears and the US Supreme Court's decision to strike down a large part of Donald Trump's tariffs policy.

Australia buys parts for future AUKUS sub reactor

Australia has paid for the first British-built parts of nuclear reactors to power a future SSN-AUKUS stealth submarine, the government said Tuesday.

Brazil court to try politicians over hit on black councilwoman

Brazil's Supreme Court begins the trial Tuesday of politicians accused of ordering the 2018 murder of Rio de Janeiro councilwoman Marielle Franco, a case that exposed deep ties between politics and organized crime in the city.

Despite drop in 2025, Russian oil exports exceed pre-war volumes: report

While Russian oil exports dropped last year, Russia is still exporting higher volumes than before its invasion of Ukraine in 2022, researchers said Tuesday, calling for stricter sanctions enforcement.

YouTube exec says goal was viewer value not addiction

A landmark social media addiction trial resumed Monday with a YouTube executive insisting that the Google-owned company's aim was to give people value, not hook them on harmful binge-viewing.

US stocks tumble on tariff fog, worries over AI

Wall Street stocks finished sharply lower on Monday following an ugly session dogged by worries over US tariff uncertainty and the potential hit to legacy companies by artificial intelligence.

Canada summons OpenAI over failure to report mass shooter

Canada has summoned senior leadership from OpenAI to Ottawa to explain the company's decision not to report suspicious online activity by an individual who later killed eight people this month.

Panama takes control of canal ports from CK Hutchison

Panamanian maritime authorities took control Monday of two ports on the Panama Canal from CK Hutchison after the Hong Kong-based conglomerate's concession was annulled following pressure from the United States.

Coin Press - Economy (English)