Coin Press - Economy

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Stocks, dollar rise before key US inflation data

Major stock markets mostly rose and the dollar gained slightly Friday as investors awaited the release of key US inflation data that could cement expectations that the Federal Reserve will cut interest rates next year.

Markets rise ahead of US data, expected Fed rate cut

Equity markets rose going into the weekend on Friday following a broadly positive lead from Wall Street as a mixed bag of US data did little to change expectations the Federal Reserve will cut interest rates next week.

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Singapore AI teddy back on sale after recall over sex chat scare

A plushy, AI-enabled teddy bear recalled after its chatbot was found to engage in sexually explicit conversations and offer instructions on where to find knives is again for sale, AFP found.

European stocks steady as US shuts for Thanksgiving

European stock markets steadied Thursday after solid gains in Asia, as markets increasingly expect the US Federal Reserve to cut interest rates next month.

Wildlife trade body rejects new eel protections

The world's top wildlife trade body rejected new protections for eels on Thursday in a secret ballot at talks in Uzbekistan.

Most Asian markets track latest Wall St rally as rate bets rise

Most Asian markets rose Thursday to extend the week's global rally as traders ramp up bets on a third successive US interest rate cut next month.

Asian stocks track latest Wall St rally as rate bets rise

Asian markets rose again Thursday to extend the week's global rally as traders ramp up bets on a third successive US interest rate cut next month.

Japan beer giant Asahi delays earnings due to cyberattack

Japanese beer giant Asahi said Thursday it has delayed the release of full-year financial results due to a major ongoing cyberattack that began in late September.

US stocks rise for 3rd straight day while British pound advances

Global stocks mostly rose Wednesday, with Wall Street equities gaining on hopes of lower interest rates, while the British pound advanced on the government's unveiling of a new budget.

UK allows new oil, gas drilling in existing North Sea fields

Britain's government signalled Wednesday it could issue permits for oil and gas extraction around existing North Sea fields, despite a promise to halt licences for new production in the area.

UK tax-raising budget pleases markets despite growth downgrades

Britain's government unveiled a tax-raising budget Wednesday welcomed by financial markets, as its hard-hitting action aims to slash state debt as well as fund public services.

NASA confirms support for delayed European Mars rover: ESA

NASA has confirmed that it will contribute to Europe's Martian rover Rosalind Franklin, which is scheduled to launch in 2028 after repeated delays, the European Space Agency said on Wednesday.

Insurance giant Allianz signals job cuts in AI shift

German insurance giant Allianz signalled Wednesday looming job cuts due to its adoption of artificial intelligence with a report saying up to 1,800 roles, mainly in call centres, could be axed.

Swedish steel startup Stegra gets more state aid

The Swedish Energy Agency said Wednesday it was giving some $40 million in support to low-carbon steelmaker Stegra, amid fears surrounding the ambitious startup's finances.

Lebanese living abroad seek hope as they return for pope visit

Rachelle Mazraani is travelling from Sydney to Beirut for Pope Leo XIV's visit this week, one of many Lebanese at home and abroad who hope the trip will revive their struggling country.

Swedish steel startup Stegra gets state aid

The Swedish Energy Agency said Wednesday it was giving some $40 million in support to low-carbon steelmaker Stegra, amid fears surrounding the ambitious startup's finances.

Shein under EU pressure over childlike sex dolls

The European Union stepped up its pressure on Shein on Wednesday after the online retail giant faced an uproar in France over the sale of childlike sex dolls.

EU lawmakers call to make it easier to suspend shopping platforms like Shein

EU lawmakers on Wednesday called to make it easier to suspend e-commerce platforms, following outrage in France over the sale of childlike sex dolls on Shein, and demanded better policing of such websites.

Richard Branson 'heartbroken' as his wife dies aged 80

British entrepreneur Richard Branson paid tribute Wednesday to his wife Joan Templeman shortly after announcing her death, saying "life will never be the same without her".

ECB warns on stretched AI valuations and sovereign debt risks

Heightened market exuberance around artificial intelligence and eye-popping levels of government debt could pose risks to eurozone financial stability, the European Central Bank warned Wednesday.

IMF urges Germany to enact 'pro-growth' reforms

The International Monetary Fund said Wednesday that Germany's public spending ramp-up must be accompanied by "pro-growth" reforms to ensure Europe's beleaguered top economy makes a sustained recovery.

Stocks extend global rally as data boost rate cut hopes

Asia and Europe extended a global equities rally Wednesday after another round of tepid US data reinforced expectations that the Federal Reserve will cut interest rates again next month.

'Forgotten' women demand justice in Spain breast cancer scandal

Anabel Cano thought cancer had spared her after she underwent a mammogram in the Spanish region of Andalusia. Having now lost a breast to a mastectomy, she feels betrayed.

Beloved sheepskin-sack cheese Bosnia wants to protect

High in the mountain meadows of southern Bosnia, farmer Branka Buha monitors her cows through a GPS signal on her husband's phone.

As Ukraine battles for key city, pro-Russian accounts wage AI war

Fighting for control of Pokrovsk in Ukraine's east is raging on, but in pro-Russian social media circles, Moscow has already won: viral, AI-generated videos depict a Ukrainian army in retreat, complete with fake, tearful soldiers.

Pele's brand acquired by family business of Neymar Jr.

Iconic footballer Pele's brand came under the ownership of another prominent Brazilian athlete, Neymar Santos Jr., after the company owned by his father said Tuesday it had bought the rights to use it.

Asian stocks extend global rally as data boost rate cut hopes

Asia extended a global equities rally Wednesday after another round of tepid US data reinforced expectations that the Federal Reserve will cut interest rates again next month.

Trump sends Witkoff to Moscow in hopes of finalizing Ukraine deal

Donald Trump said Tuesday he is sending his envoy Steve Witkoff to meet with Russian leader Vladimir Putin in Moscow next week as the US president seeks to close out a deal to end the war in Ukraine.

Trump sends Witkoff to Moscow in hopes of finalisation Ukraine deal

Donald Trump said Tuesday he is sending his envoy Steve Witkoff to meet with Russian leader Vladimir Putin in Moscow as the US president seeks to close out a deal to end the war in Ukraine.

Unknown Renoir painting sells for 1.8 million euros at auction

A previously unknown work by French impressionist painter Auguste Renoir of his toddler son Jean sold for 1.8 million euros ($2.08 million) at a Paris auction on Tuesday, the Drouot auction house told AFP.

EU, Africa pledge to boost trade, tackle migration at summit

European and African leaders committed to strengthening trade and better tackling irregular migration Tuesday, at the end of a summit aimed at boosting ties between the two continents.

EU gives Germany free pass over defence spending

Germany will escape EU punishment for breaking the bloc's budget rules because of a defence spending exemption, the European Commission said on Tuesday.

US retail sales miss expectations as consumers see higher costs

US retail sales grew at a slower pace than anticipated in September, government data showed Tuesday, as higher prices added to affordability concerns while firms grappled with an uptick in business costs.

Wall Street leads European equities higher as rate cut hopes rise

A solid opening for New York equities underpinned European stocks Tuesday as the tech sector extended a strong run and a US rate cut next month was seen as a near-certainty.

Coin Press - Economy (English)