Coin Press - Economy

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Featured

Lights out in Laos as electricity exports surge

Isolated, under-developed Laos brands itself the "Battery of Southeast Asia", powering its neighbours with dozens of hydroelectric plants, but frequent power outages leave its own people in the dark.

Venezuelans outside Caracas say capital not sharing blackout burden

Josner Herrera is sick and tired of dealing with daily power cuts, especially when her part of western Venezuela produces a fair bit of electricity.

Last news

Germany blocks German-language Russian channel

The German broadcasting regulator said Wednesday it had banned the transmission of the German-language channel of Russian state broadcaster RT, with Moscow vowing to take "retaliatory measures".

Thousands lose power but Mauritius escapes 'major damage' from cyclone

Thousands of homes were left without power in Mauritius on Wednesday but the Indian Ocean island nation escaped without "major damage" from a battering by powerful cyclone winds.

USA Swimming changes rules in wake of transgender athlete's success

A transgender American swimmer's controversial career hung in the balance Wednesday after the collegiate body governing the sport announced new rules, including testosterone limits, that could impact her ability to race competitively.

US private hiring slumps in ominous labor market sign

US private businesses shed jobs last month for the first time since December 2020 as the Omicron strain again complicated workplaces, potentially a bad sign for the upcoming government employment report.

Amazon oil spill in Ecuador was 6,300 barrels

An oil spill caused by a ruptured pipeline in Ecuador's part of the Amazon leaked almost 6,300 barrels into an environmental reserve, according to information given on Wednesday by the company that owns the conduit.

Turkey says 12 migrants blocked by Greece die at border

Turkey on Wednesday accused Greece of allowing 12 migrants to die in the winter cold after stripping them of their clothes and then pushing them back across the Turkish border.

OPEC+ backs another modest oil output hike despite surging prices

Top oil-producing countries led by Saudi Arabia and Russia announced another modest increase in output on Wednesday despite soaring crude prices and geopolitical tensions rattling the markets.

US private hiring fell 301,000 amid January Omicron surge: survey

Private US businesses shed 301,000 jobs last month as the Omicron variant of Covid-19 disrupted activity, payroll services firm ADP said Wednesday in a report that was far worse than expected.

OPEC+ eyes modest output boost despite price surge

Top oil producing countries led by Saudi Arabia and Russia are expected to stick to their guns and announce another modest output increase on Wednesday despite soaring crude prices.

Two Afghan journalists released after Taliban detention

Two Afghan journalists detained by the Taliban earlier this week were released Wednesday, the news editor of their media organisation said.

Eurozone inflation rises to new record high

Inflation in the eurozone soared to a new record high in January, official data showed Wednesday, adding pressure on the European Central Bank ahead of a monetary policy meeting this week.

Santander profits soar to pre-pandemic levels

Spanish banking giant Santander bounced back from the pandemic as it returned to profit last year, beating analyst expectations and exceeding its pre-Covid earnings, the group said Wednesday.

Sri Lanka gets urgent $500m Indian loan to pay for oil

Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation.

Rape stalks women in C. Africa's dirty war

Maia looks down at her expanding belly, her eyes welling with tears.

'Spider-Man' success helps Sony lift annual profit outlook

Sony upgraded its full-year net profit forecast on Wednesday, buoyed by the success of its latest "Spider-Man" movie and strong results in the gaming sector despite the global chip shortage.

Mexico tries to banish homophobic slur from football

Mexico are playing World Cup qualifiers in front of a limited number of tightly controlled fans -- part of efforts to stamp out an anti-gay slur in the football-loving nation.

Sony hikes annual profit forecast on film, gaming success

Sony upgraded its full-year net profit forecast on Wednesday, buoyed by the success of its latest Spider-Man movie and strong results in the gaming sector despite the global chip shortage.

Iranian female skier cuts icy path to Beijing Olympics

Iranian Atefeh Ahmadi learned to ski not long after she could walk, but the path to the Winter Olympics has not been an entirely smooth run for the 21-year-old.

Spring in February: UK plants flowering 'a month early'

Global warming is causing plants in the UK to burst into flower around a month earlier, with potentially profound consequences for crops and wildlife, according to research Wednesday that used nature observations going back to the 1700s.

Asian markets extend rally as optimism returns to trading floors

Asian equities built on a rally across world markets Wednesday as investors become less worried about the Federal Reserve's plans to tighten monetary policy, while more strong corporate results lifted optimism about the outlook.

General Motors sees solid 2022 on strong demand, improving chip supply

Despite a hit from the semiconductor crunch in the fourth quarter, General Motors on Tuesday projected a highly profitable 2022 based on strong consumer demand in the face of rising inflation.

Pfizer seeks US approval of Covid vaccine for children under 5

Pfizer and BioNTech said Tuesday they are seeking emergency authorization from US health regulators for use of their Covid vaccine for children aged over six months and under five years.

Google parent Alphabet nearly doubles annual profit

Google's parent firm Alphabet announced quarterly profits Tuesday that beat expectations and nearly doubled in 2021 -- after a booming holiday season for the online ads giant facing anti-trust scrutiny.

General Motors reports lower Q4 profits, sees solid 2022

General Motors saw lower fourth-quarter profits as the semiconductor crunch hit vehicle sales, but the company still scored record annual earnings, according to results released Tuesday.

Mexico's energy reforms test relations with US

Relations between the United States and Mexico are under strain as the Mexican government pushes ahead with planned energy sector reforms that have alarmed Washington and foreign investors.

UPS unveils big dividend hike after strong 2021

UPS announced Tuesday a hefty increase in its investor dividend, boosting shares as it moved up key profit targets following a strong 2021.

Ethiopian Airlines completes first 737 MAX flight since 2019 crash

Ethiopian Airlines on Tuesday flew the Boeing 737 MAX for the first time since a crash nearly three years ago killed all 157 people on board and triggered the global grounding of the aircraft.

Whoopi Goldberg apologizes for Holocaust comments

US actress Whoopi Goldberg has apologized after she was criticized for saying that the Nazi genocide of six million Jews "was not about race."

Orban pledges cooperation with Putin in storm of Ukraine crisis

Hungarian Prime Minister Viktor Orban met with Russia's Vladimir Putin in the Kremlin on Tuesday, pledging cooperation with Moscow for years to come in a trip criticised by his EU allies.

Denmark unmasks to 'live normally' again with Omicron

Denmark waved goodbye to facemasks and health passes on Tuesday as it became the first European Union country to lift all of its domestic Covid curbs despite record numbers of cases of the milder Omicron variant.

ExxonMobil posts $23 bn in 2021 profits on higher oil prices

ExxonMobil reported a profitable fourth-quarter Tuesday to conclude a strong comeback year in 2021 on higher oil prices amid recovering energy demand.

Daimler completes Mercedes-Benz rename after truck split

German auto manufacturer Daimler officially changed its name to Mercedes-Benz on Tuesday after splitting with its truck subsidiary in a major corporate shakeup.

Coin Press - Economy (English)