Coin Press - Economy

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Featured

OpenAI co-founder under fire in Musk trial over $30 bn stake

Following high-profile testimony from billionaire Elon Musk last week, one of OpenAI's co-founders testified Monday in the California lawsuit brought by the world's richest man against the creators of ChatGPT.

UAE slams 'dangerous escalation' after fresh attacks blamed on Iran

The United States said it had destroyed several Iranian boats on Monday and the United Arab Emirates reported fresh attacks on its territory, in the sharpest escalation since a fragile ceasefire was agreed in the Middle East war.

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Strong first-half profits keep Alstom firmly on rails

French rail manufacturer Alstom reported Thursday a strong first half of its 2025-2026 fiscal year, as sales and net profit both rose, propelled by healthy global demand for trains and rail infrastructure.

Pfizer completes Metsera acquisition in deal worth up to $10 bn

US drugmaker Pfizer said Thursday that it has completed its acquisition of biotech firm Metsera, closing a deal worth up to $10 billion after a fierce bidding war.

Boeing union votes to end strike, accept new contract

More than 3,000 striking Boeing defense workers on Thursday voted to end a strike over wage increases and retirement benefits, one of the longest work stoppages in the company's history.

Starbucks baristas launch strike on chain's 'Red Cup Day'

Hundreds of unionized Starbucks baristas kicked off an indefinite strike Thursday in cities across the United States, protesting working conditions and stalled labor negotiations.

Stocks on the slide despite end of US shutdown

Global stocks slid back sharply on Thursday, dashing hopes that President Donald Trump's signing of a spending bill to end a record US government shutdown might enliven trading floors.

Starlink, utilised by Myanmar scam centres, sees usage fall nationwide

Elon Musk's Starlink, whose internet services have been utilised by Myanmar scam centres, has seen its use across the country plummet since the end of September, according to estimates from regional internet registry Apnic.

YouTube superstar MrBeast opens pop-up park in Saudi Arabia

MrBeast, the world's most followed YouTuber with over 450 million subscribers, opened a temporary amusement park in Riyadh on Thursday, the latest celebrity drawn to Saudi Arabia as it aspires to become a major entertainment hub.

US shutdown scorecard: Who cashed in, who crashed out

The longest government shutdown in US history was bruising -- a political knife fight that left everyone claiming victory while nursing hidden wounds.

Mexican car industry fears higher tariffs on China will drive its demise

Mexico's car assembly industry, one of the biggest in the world, fears US President Donald Trump's tariff war will impede access to an increasingly indispensable component: digital dashboard touchscreens for which parts are sourced mainly in China.

Stocks sluggish as US government shutdown ends

Stock markets were sluggish on Thursday after President Donald Trump signed a spending bill to end a record-long US government shutdown.

EU backs small parcel duties to tackle China import flood

EU states on Thursday agreed to scrap a bloc-wide duty exemption on low-value orders from the likes of retail giants Temu and Shein to help tackle a flood of cheap Chinese imports.

Swiss economy minister back in Washington for tariff talks

Switzerland's economy minister Guy Parmelin was back in Washington for talks on Thursday, for the third time since the Alpine country was clobbered with huge tariffs.

Amazon robotics lead casts doubt on eye-catching humanoids

Flashy humanoid robots that have awed attendees at Web Summit in Lisbon this week are still far from revolutionising physical labour in factories and warehouses, Amazon's chief roboticist told AFP.

How embracing 'ickiness' helped writer Szalay win Booker Prize

Writer David Szalay deliberately dared his readers to face up to the "ickiness" of an affair between a 15-year-old boy and his much older married neighbour in the first chapter of his new book, "Flesh".

World oil market 'lopsided' as supply outpaces demand: IEA

The world's oil market is experiencing a period of imbalance as growing supply outstrips demand despite stronger deliveries to China, the International Energy Agency (IEA) said Thursday.

Stocks waver as US government shutdown ends

Stock markets wavered on Thursday after President Donald Trump signed a spending bill to end a record-long US government shutdown.

Google to pay millions to South African news outlets: watchdog

Google will pay more than $40 million to support South African news media, many of them floundering in a digital age, the country's competition authority said Thursday.

EU probes Google over news site rankings despite Trump threats

The EU launched a fresh investigation into Google Thursday over suspicions the US giant is pushing down news outlets in search results, despite retaliation threats from US President Donald Trump.

UK economic gloom deepens before budget

Britain's economy slowed in the third quarter, official data showed Thursday, dealing another blow to the Labour government ahead of its annual budget.

Burberry narrows first half loss on turnaround plan

Burberry said Thursday it narrowed losses in its first half thanks to the British luxury fashion label's turnaround plan begun a year ago.

Stocks rise with focus on Fed, tech as US government reopens

Asian markets rose on Thursday after Donald Trump signed a spending bill to end a record US government shutdown, while focus was also turning to Federal Reserve interest rates and tech bubble worries.

In Kyrgyzstan, world's largest natural walnut forest thins away

Rustling through fallen golden leaves, locals in a forest outside Arslanbob in the Kyrgyz mountains were scurrying for walnuts -- an ancient pastime and economic lifeline for the region.

Striking Boeing defense workers to vote on latest contract

More than 3,000 striking Boeing defense workers will vote Thursday on a revised contract proposal that comes closer to their demands.

Australia's opposition ditches commitment to net zero emissions

Australia's conservative opposition said Thursday it will drop its commitment to achieving net zero emissions by 2050 if it wins power and leads a country dependent on fossil fuels but highly vulnerable to climate change.

Stocks stutter with focus on Fed, tech after US reopen vote

Asian markets trod water Thursday as euphoria over the end of a record US government shutdown petered, with focus back on Federal Reserve interest rates and tech bubble worries.

Record rains turn Argentina's farm-filled Pampas plains to wetlands

Parts of the Argentine Pampas, a vast expanse of flat grasslands, look more like wetlands these days following record rains, with local farmers warning of a "catastrophic" impact to their livelihoods.

Solar storm brings new chance of vivid auroras, signal disruptions

Spectacular displays of auroras at abnormally low latitudes were expected again Wednesday night into Thursday, a result of intense solar activity which also carries risks to communication networks.

G7 calls for urgent Ukraine ceasefire, de-escalation in Sudan

G7 foreign ministers on Wednesday called for an immediate ceasefire in Ukraine and raised the alarm about the escalating crisis in Sudan, as they wrapped up a meeting in Canada.

German experts slam spending plans, cut GDP forecast

Germany is using a massive fund for the wrong purposes and it risks providing just a minor boost to the struggling economy, experts warned Wednesday, as they cut their 2026 growth forecast.

Stocks mostly rise on hopes of US shutdown deal, rate cut

Stock markets mostly rose on Wednesday on optimism that the US government shutdown was nearing an end and on hopes of another Federal Reserve interest rate cut.

Bayer beats forecasts but weedkiller woes still weigh

Germany's Bayer said Wednesday it had set aside more money to deal with long-running legal woes related to weedkillers, even as investors cheered better-than-expected quarterly earnings.

Bayer narrows loss, upbeat on weedkiller legal woes

Germany's Bayer said Wednesday it was confident of "significantly" containing long-running legal woes related to a weedkiller by the end of next year, as it reported a narrower quarterly loss.

Coin Press - Economy (English)