Coin Press - Economy

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Featured

Amazon surges as US stocks shrug off bond yield worries

Wall Street stocks charged higher Friday behind strong earnings from Amazon that offset the drag from higher US Treasury yields.

Oil giants report blowout profits on war, warn high gas prices could persist

US petroleum giants ExxonMobil and Chevron released blowout profits Friday due to the Middle East war, as executives cautioned that elevated gasoline prices will probably continue to strain consumers.

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Attacks across Middle East as Iran war enters second month

Gulf countries and Israel came under missile fire and Israeli forces struck Iran on Saturday, as the war raged into its second month with Washington expressing hopes for progress in talks with Tehran.

More to IOC gender testing than appeasing Trump: ex-IOC executive

The International Olympic Committee's new policy on gender testing could be seen as "smart positioning" given the current US political climate but a former IOC marketing executive has told AFP he did not believe it was the "driving factor".

Uncertainty over war-induced oil crisis dominates key energy summit

The world's largest energy conference wrapped up in Houston on Friday with the crisis caused by the US-Israel war on Iran dominating discussions -- but with little to show for it beyond a prevailing sense of uncertainty.

US court overturns $16.1 bn judgment against Argentina over oil firm seizure

A US appeals court on Friday overturned a $16.1 billion judgment against Argentina for nationalizing the oil company YPF in 2012.

Mideast war leaves 6,000 tonnes of tea stuck at Kenya port

Between 6,000 and 8,000 tonnes of tea, worth around $24 million, is stuck at Kenya's port of Mombasa because of the war in the Middle East, trade officials said Friday.

Missing aid boats 'safely' crossed to Cuba: US Coast Guard

Two aid boats bound for Cuba that were feared missing after they set sail from Mexico have "safely transited" to the island, the US Coast Guard said Friday.

Overnight petrol queues in Ethiopia as war shortages hit

Ethiopians said Friday they slept in their cars in hours-long queues for petrol as shortages caused by the Middle East war began to take their toll.

Mexico searches for missing Cuba aid boats

The Mexican Navy searched Friday for two sailboats that went missing while transporting humanitarian aid to crisis-hit Cuba, a week after leaving Mexico with nine people aboard.

France calls Olympic gender test 'step backwards', other countries back policy

France on Friday called the International Olympic Committee's new policy on gender testing to determine eligibility to compete in women's events a "step backwards", but other countries welcomed the move.

France calls Olympic gender test 'a step backwards', other countries approve

Volkswagen in talks with defence firms on use of Germany plant: CEO

Struggling German carmaker Volkswagen is in talks with defence firms to repurpose a plant in northern Germany for the production of military transport equipment, the firm's boss said Friday.

Oil climbs, stocks fall even as Trump extends Iran deadline

Oil prices rose and stocks mostly fell Friday as initial optimism over US President Donald Trump's decision to again delay his deadline for strikes on Iran's energy assets faded.

German state railway loss widens, passengers warned of trouble ahead

Germany's beleaguered state railway operator Deutsche Bahn said Friday its losses widened last year and warned passengers to brace for less-than-perfect service for years to come.

Iran Guards warn civilians after Trump pushes Hormuz deadline

Iran's Revolutionary Guards urged civilians across the Middle East Friday to stay away from areas near US forces, ramping up its threats despite President Donald Trump's claim talks to end the month-long war were "going well".

Oil, stocks mixed as traders weigh Trump's latest Iran strike pause

Oil prices and stocks were mixed Friday as early optimism fuelled by Donald Trump's decision to again push back a deadline for Iran to reopen the Strait of Hormuz petered.

New Zealand, Australia say Olympic gender rules bring 'clarity'

New Zealand's Olympic Committee said Friday that an IOC ruling that only "biological females" will be allowed to compete in women's events would bring greater "clarity" and "fairness" to future Games.

Cryptocurrencies aiding Iran during war

Since the start of the Middle East conflict, Iran has witnessed massive cryptocurrency flows.

Myanmar travellers ride the rails as fuel prices rise

Myanmar's ageing railway stations are bustling with life, crowded with passengers as surging fuel prices due to the Mideast war drive commuters to choose trains over costly planes and cars.

Trump moves deadline for striking Iran energy sites

US President Donald Trump has pushed back his deadline for strikes on Iran's energy assets, saying talks on ending the war were "going very well" as Israel announced fresh strikes on Tehran early Friday.

Cyclone triggers outages at major Australian LNG plants

A cyclone off Australia triggered outages at two of the world's largest LNG plants, energy giant Chevron said Friday as Middle East turmoil stoked soaring demand for the fuel.

OpenAI shelves plans for erotic chatbot

OpenAI has put plans for a sexually explicit chatbot on hold indefinitely, the company said Thursday, amid mounting concerns about the societal and reputational risks of releasing such a product.

Oil climbs, stocks slide as Iran war uncertainty reigns

Oil prices jumped and equities slid Thursday as hopes for a peace deal between the United States and Iran wavered, with US President Donald Trump threatening to "obliterate" the country even as he claimed negotiations to end the conflict were ongoing.

Joy, scepticism across west Africa after UN vote on slave trade

Ghanaians in the streets of the capital Accra were full of pride -- and already looking toward future "justice" -- Thursday after the United Nations recognised the transatlantic slave trade as "the gravest crime against humanity."

Parmesan exports doing grate... but sales melt in Italy

For the first time more than half of Parmesan cheese was exported, as Italy's population declines and consumers watch their spending, producers said Thursday.

Cuban children's heart hospital makes tough choices amid US blockade

Doctors at Cuba's main pediatric heart hospital face wrenching decisions as a US fuel blockade further strains an already fragile health system: which children receive life-saving treatment first -- and which must wait longer.

Police detain French ex-cop suspected of killing mothers of his children

Portuguese police have arrested a former French police officer suspected of killing his partner and his ex-girlfriend after kidnapping them and their children.

Africa sets out stall for cotton at the WTO

African countries are taking a stand at the World Trade Organization to bolster their cotton sector, launching a platform tasked with mobilising investment to transform the cotton, textile and clothing value chain.

WTO mulls future of global trading under cloud of Mideast war

The World Trade Organization's ministerial conference opened Thursday against a backdrop of heightened trade tensions and global economic turmoil linked to the Middle East war.

Germany unveils rescue plan for struggling chemical sector

The German government and the country's chemical industry on Thursday presented a sweeping plan to help the ailing sector as it faces new headwinds from the Middle East war energy shock.

South Africa disinvited from G7 in France after US pressure: Pretoria

The United States put pressure on France to disinvite the South African president to the G7 summit in the French town of Evian in June, the South Africsan presidency told AFP Thursday.

French court orders ex-bishop to pay over 1970s child sex abuse

A Paris court has ordered a former Catholic bishop to pay more than $200,000 in damages to a man who accused him of rape and sexual assault in the 1970s, a ruling seen by AFP on Thursday showed.

Italy seizes millions 'embezzled' from Ursula Andress

Italian authorities said Thursday they had seized 20 million euros of assets in Tuscany, including property, vineyards and olive groves, allegedly bought with money embezzled from Bond Girl actress Ursula Andress.

Coin Press - Economy (English)