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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Asia markets mixed as stong US jobs data temper rate expectations

Stocks were mixed on Thursday as investors weighed a bumper US jobs report that eased concerns about the state of the world's top economy but forced them to pare back their bets on Federal Reserve interest rate cuts.

Samsung starts mass production of next-gen AI memory chip

Samsung Electronics announced Thursday it had started mass production of next-generation memory chips to power artificial intelligence, touting an "industry-leading" breakthrough.

Argentina moves closer to labor reform, despite protests

Argentina pushed closer on Thursday to approving labor reforms that have triggered clashes between workers and police in the streets outside Congress.

Greece's Cycladic islands swept up in concrete fever

On the sloping shoreline of the Greek Aegean island of Milos, a vast construction site has left a gaping wound into the island's trademark volcanic rock.

'China shock': Germany struggles as key market turns business rival

China was long a lucrative market for Germany Inc, but the Asian giant's rise in high-tech fields has put the heat on Europe's industrial powerhouse and its companies, big and small.

EU leaders push to rescue European economy challenged by China, US

EU leaders will converge on a Belgian castle on Thursday as the bloc seeks ways to punch its economic weight on the global stage -- faced with threats from China and the United States, and hamstrung by its own divisions.

Protesters, police clash at protest over Milei labor reform

Argentine workers hurled stones and bottle bombs Wednesday at police who responded with tear gas and rubber bullets as a protest against proposed labor reforms turned briefly violent.

Trump orders Pentagon to buy coal-fired electricity

US President Donald Trump ordered the Pentagon on Wednesday to buy electricity from coal-fired plants, in his latest bid to boost an industry that is a major contributor to climate change.

US pushes for 'dramatic increase' in Venezuela oil output

US Energy Secretary Chris Wright on Wednesday vowed to power a "dramatic increase" in Venezuelan oil output as part of a plan to "make the Americas great again" after talks with acting president Delcy Rodriguez in Caracas.

Milei labor law reforms spark clashes in Buenos Aires

Argentine protesters angry over a labor reform bill clashed with police Wednesday outside Congress, as lawmakers debated plans to facilitate work contract flexibility and make it easier and cheaper to fire staff.

US stocks move sideways after January job growth tops estimates

Wall Street stocks moved sideways Wednesday following solid US jobs data that boosted sentiment about the economy but dented prospects for imminent Federal Reserve interest rate cuts.

US top official in Venezuela for oil talks after leader's ouster

US Energy Secretary Chris Wright was in Venezuela on Wednesday for talks with acting president Delcy Rodriguez and oil industry executives on harnessing the country's vast reserves of crude.

TotalEnergies can do without Russian gas: CEO

French fossil fuels giant TotalEnergies said Wednesday it will abide by a European ban on imports of Russian liquefied natutral gas (LNG) due to come into force next year and said it can easily replace the supplies.

Instagram CEO denies addiction claims in landmark US trial

Instagram CEO Adam Mosseri on Wednesday rejected the notion that users could be clinically addicted to social media, as he testified in a landmark California trial over whether his company knowingly hooked children on its platform for profit.

EU leaders push rival fixes to reverse bloc's 'decline'

EU leaders told industry executives on Wednesday they were committed to transforming the bloc's lagging economy into a global powerhouse able to confront US and Chinese competition.

BMW recalls hundreds of thousands of cars over fire risk

German carmaker BMW is to recall hundreds of thousands of cars worldwide over a potential risk of engine starters sparking a fire, a company spokesman confirmed to AFP Wednesday.

Norway's ex-diplomat seen as key cog in Epstein affair

Norway's former high-profile diplomat Terje Rod-Larsen helped Jeffrey Epstein weave his web of dignitaries, acting as a go-between for the convicted sex offender in exchange for rewards, media has reported.

Instagram CEO to testify at social media addiction trial

Instagram's CEO Adam Mosseri takes the stand Wednesday in a landmark trial that could determine whether social media giants knowingly hooked children on their platforms for profit.

xAI sees key staff exits, Musk promises moon factories

Half of the original founding team at Elon Musk's artificial intelligence startup xAI has now departed after two co-founders resigned in rapid succession this week, raising fresh questions about talent retention ahead of an expected initial public offering.

US hiring soars past expectations as unemployment edges down

US job growth beat expectations in January while unemployment crept down, official data showed Wednesday, defying immediate concerns about labor market fragility on the back of President Donald Trump's economic policies.

France lawmakers urge changes to counter dwindling births

French lawmakers Wednesday urged longer paid parental leave and more financial support to make it easier for people to have more children, after deaths last year exceeded births in France for the first time in decades.

EU eyes tighter registration, no-fly zones to tackle drone threats

The EU on Wednesday said it wanted to tighten drone registration, create no-fly zones and ramp up detection at critical sites after a string of unexplained sightings rocked European countries last year.

Spanish PM vows justice, defends rail safety after deadly accidents

Spanish Prime Minister Pedro Sanchez vowed Wednesday that justice would be done following two train accidents that claimed 47 lives last month, and insisted the country's rail system "is safe".

Struggling brewer Heineken to cut up to 6,000 jobs

Under-pressure Dutch brewer Heineken said Wednesday that it would scrap up to 6,000 jobs as it faces what it called "challenging market conditions" with beer volumes down compared to last year.

UK's crumbling canals threatened with collapse

On a misty winter's day in the English midlands, engineers struggled to drag stranded narrowboats from a waterless, mud-filled canal that collapsed weeks earlier, in a delicate, multi-million-pound rescue operation.

Moderna says US refusing to review mRNA-based flu shot

Vaccine manufacturer Moderna said Tuesday the US Food and Drug Administration was refusing to review an application for its first mRNA-based flu shot.

More American women holding multiple jobs as high costs sting

Cindy Dionicio is a waitress, a saleswoman and a cleaner -- sometimes all in the same day. Like her, nearly nine million US workers hold multiple jobs, squeezed by high costs of living.

Britney Spears sells rights to her music catalog: US media

US singer Britney Spears has become the latest musician to sell the rights to her catalog that includes hits like "...Baby One More Time" and "Oops!...I Did It Again," US media reported Tuesday.

'Outrage' as LGBTQ Pride flag removed from Stonewall monument

The removal of an LGBTQ rainbow pride flag from the Stonewall national monument in New York after new rules issued by the Trump administration sparked an outcry and planned protests on Tuesday.

Senegal says student's death in clashes with police a 'tragedy'

Senegal on Tuesday called the death of a medical student at a major Dakar university during clashes with police a "tragedy" and acknowledged acts of violence by security forces trying to quell protests.

Latam-GPT: a Latin American AI to combat US-centric bias

Move over ChatGPT. Chile on Tuesday launched Latam-GPT, an open-source artificial intelligence model for the region, designed to combat bias inherent in a US-centric industry.

Europe's Ariane 6 to launch Amazon constellation satellites into orbit

An enhanced version of Europe's Ariane 6 rocket will blast off Thursday to launch 32 satellites into orbit, forming part of the Amazon Leo network, which it hopes will rival Elon Musk's Starlink.

Coin Press - Economy (English)