Coin Press - Economy

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Zimbabwe tobacco hits new highs under smallholder contracts

Rows of green tobacco plants stretched towards the bush in a vast field of a crop that has rebounded to record levels in Zimbabwe, driven largely by smallholders contracted to Chinese firms.

India hikes fuel prices as Middle East war strains supplies

India's state-run oil companies raised petrol and diesel prices by more than three percent on Friday as disruption to energy supplies due to the Iran war mounts pressure on the economy.

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Netflix sinks as Wall Street flees 'stay-at-home' stocks

One day after shares of at-home fitness company Peloton tumbled, Netflix found itself in Wall Street's hot seat Friday as markets reassess the diminishing growth prospects of so-called "pandemic stocks."

EU nations quarrel over whether nuclear, gas are 'green'

Hours before the window for lodging objections closes, EU environment and energy ministers meeting in France Friday differed sharply on a European Commission provision that would classify nuclear and natural gas energy as "sustainable".

Biden hails Intel's $20 bn chip plant investment amid shortage

President Joe Biden on Friday praised Intel's plans to spend $20 billion on a new US semiconductor facility, hailing the "historic" investment even as a global chip shortage fans the inflation wave weighing on his leadership.

Gas giants' Myanmar exit unlikely to badly damage junta: analysts

The exit of energy titans TotalEnergies and Chevron from Myanmar's billion dollar gas industry has been hailed by rights groups, but analysts say it will not significantly weaken the generals and may even enrich the military in the short term.

Intel to spend $20 bn on US chip plants amid shortage

US semiconductor giant Intel on Friday announced a $20 billion investment to build two new semiconductor plants in Ohio, as a global chip shortage fans the inflation wave weighing on Joe Biden's presidency.

Reserve Bank chief will be Chile's new finance minister

Chile's leftist president-elect Gabriel Boric, whose victory at the polls last month unsettled the markets, on Friday named the country's Central Bank governor as his finance minister in a young, diverse and woman-majority cabinet.

Dior designer Kim Jones: 'We live in a bubble'

Kim Jones may be borrowing from Dior's most iconic female looks for his latest menswear collection but that doesn't mean he believes gender boundaries are ready to disappear yet.

UK retail sales suffer record drop on Omicron fears

British retail sales suffered a record drop in December as consumers shunned the high street due to Omicron concerns, having snapped up Christmas purchases the previous month, data showed Friday.

From nightmares to PTSD: Covid stokes UK health care staff crisis

Long shifts working in intensive care and the risk of catching Covid and passing it on to his wife and children left Joan Pons Laplana exhausted.

Airbus cancels Qatar Airways plane order in feud

Airbus has taken the extraordinary step of cancelling a multi-billion-dollar order of 50 planes from Qatar Airways, a major customer, in an escalating feud over the airline's grounding of A350 aircraft.

Samsung pulls Singapore drag queen ad after backlash

South Korean tech giant Samsung has pulled an online advert in Singapore that featured a hijab-wearing Muslim woman hugging her drag queen son after it sparked a backlash from socially conservative corners.

Five do battle for top UN labour job

Five candidates are battling to take over the United Nations' International Labour Organization, winding up two days of hearings on Friday that set out contrasting visions for the ILO's future.

In Texas, driverless trucks are set to take over roads

A giant 18-wheel transport truck is barreling down a multi-lane Texas highway, and there is no one behind the wheel.

Jury selected in US trial of officers involved in Floyd arrest

Former Minneapolis policeman Derek Chauvin is serving 22 years in prison for the murder of George Floyd, a 46-year-old African-American.

Partner of Chile's president-elect draws feminist ire over first lady role

Irina Karamanos, an avowed feminist and partner of Chile's leftist president-elect Gabriel Boric, has drawn fire from women's groups for her decision to accept the "anachronistic" role of first lady.

Quiet car: England to ban loudspeaker 'spam' on trains

UK transport chiefs on Friday said that bothersome on-board train announcements would be cut in a bid to offer more peaceful journeys, a move it dubbed a "bonfire of the banalities".

Adding peanuts to young children's diet can help avoid allergy: study

Including peanuts in children's diets early in life could help stave off allergies against the legume, which can be fatal and affect swathes of youngsters globally, according to a new study Friday.

US airlines hopeful for post-Omicron 2022 after Q4 losses

Major US carriers stumbled through another money-losing quarter at the end of the 2021 but remain confident of a travel recovery later in 2022, based in part on hopes that Covid-19 will soon evolve into an ordinary and seasonal virus.

Amazon to open Los Angeles clothing store, in first

Amazon's online commerce empire is taking another step into the real world with plans announced Thursday to open a shop in Los Angeles that would be its first bricks-and-mortar clothing store.

US lawmakers advance Big Tech competition bill

A US Senate panel endorsed legislation Thursday that would block tech giants from prioritizing their products over those of smaller rivals, a potentially major reform that will face a tough fight in Congress.

Fed says central bank digital dollar could offer benefits

An official US digital currency could offer potential benefits to American consumers and businesses, but it is not clear they would outweigh the potential risks, the Federal Reserve said Thursday.

Tears for Virgil Abloh at posthumous Paris show

There were tears on the catwalk on Thursday as the final Louis Vuitton show by US designer Virgil Abloh, whose death shocked the industry last year, drew rapturous applause at Paris Fashion Week.

Teen pilot completes round-the-world feat

Beaming and waving her arms in the air, teenage pilot Zara Rutherford was euphoric Thursday after completing a solo, round-the-world flying odyssey with the dream of getting into the record books.

US existing home sales end banner year with slump

The US real estate market last year saw the most existing homes sold in 15 years, even as sales slumped in the final month of 2021, according to industry data released Thursday.

Russia's central bank calls for crypto crackdown

The Russian central bank proposed Thursday cracking down on cryptocurrencies, a move which if adopted could disrupt the burgeoning virtual money sector as Russia is one of the largest crypto-mining nations in the world.

American Airlines suffers loss as Omicron clouds outlook

American Airlines reported another quarterly loss Thursday after the latest Covid-19 surge dented demand at the end of the year, but said consumers were booking more trips for the spring.

Da Vinci should grace new euro notes, says Lagarde

European Central Bank chief Christine Lagarde suggested Thursday that Renaissance master Leonardo da Vinci and pioneering French politician Simone Veil appear on the new euro banknotes, as she waded into a politically sensitive topic.

European stocks mostly fall after Wall Street losses

European stock markets mainly fell Thursday with sentiment jarred by sliding shares on Wall Street, which was rocked by surging global inflation and the prospect of rising interest rates.

Emirates to resume US flights after 'temporary' 5G reprieve

Emirates said Thursday it will lift a suspension of flights to several US destinations in a "temporary reprieve" after the launch of 5G networks was delayed near American airports over safety fears.

French court says Twitter must reveal measures on online hate

A Paris court on Thursday ruled that Twitter must reveal its measures for fighting hate speech, in one of several cases thrashing out whether the French justice system has jurisdiction over the US social media giant.

Amazon may quit African HQ deal if blocked, Cape Town court hears

Online retail giant Amazon could pull out of a deal to create its Africa headquarters in Cape Town, if a legal challenge by indigenous activists is allowed to proceed, a Cape Town court heard Thursday.

Stay or go? Dilemma facing last of the Afghan Sikhs

The caretaker of the last Sikh temple in Kabul to regularly host open prayer surveysthe cavernous hall where throngs once gathered in worship.

Coin Press - Economy (English)