Coin Press - Economy

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Featured

Baltics transform from Soviet stagnation to startup hubs

Stepping into the newly renovated Vilnius airport, visitors are greeted with a slew of billboards advertising products "Made in Lithuania", including cybersecurity giant NordVPN.

AI keeps consumer prices high in 'RAMaggedon' chip crunch

Print-outs of articles about the global memory chip shortage are pinned beside a price list at a Hong Kong computer shop, offering an explanation to confused customers feeling the pinch.

Last news

US economic growth surges in 3rd quarter, highest rate in two years

US economic growth in the third quarter came in at 4.3 percent on an annualized basis, easily topping expectations, according to Commerce Department data released Tuesday.

Stocks slip on strong US growth data

Wall Street's main stock indices briefly slid lower on Tuesday as much stronger-than-expected US growth figures befuddled hopes for further interest rate cuts, while gold and silver struck fresh records.

Russian strike could collapse Chernobyl shelter: plant director

A Russian strike could collapse the internal radiation shelter at the defunct Chernobyl nuclear power station in Ukraine, the plant's director has told AFP.

Italy fines Ryanair $300 mn for abuse of dominant position

Italy's competition authority said on Tuesday it had fined low-cost airline Ryanair more than 255 million euros ($300 million) for allegedly abusing its dominant position to block travel agencies' access to its services.

Stocks steady as rate cut hopes bring Christmas cheer

Stock markets steadied on Tuesday, while gold and silver hit fresh records as optimism for US rate cuts helped investors ease into the festive break.

In Bulgaria, villagers fret about euro introduction

In Bilyana Nikolova's grocery store in Chuprene, a village in northwestern Bulgaria, prices are now displayed in levs and euros on hundreds of food products and other items.

Delayed US data expected to show solid growth in 3rd quarter

The US economy is expected to post another solid economic growth reading Tuesday, but the much-delayed figures likely will not settle debate on the labor market, AI and other variables.

Trump says US needs Greenland 'for national security'

President Donald Trump on Monday reiterated that the United States needed Greenland for "national security" after his appointment of a special envoy to the Danish Arctic island triggered a new spat with Copenhagen.

'Call of Duty' co-creator Vince Zampella killed in car crash

Vince Zampella, the acclaimed co-creator of the video gaming juggernaut "Call of Duty," has died in a car crash, gaming giant Electronic Arts confirmed on Monday.

Trump admin halts US offshore wind projects citing 'national security'

The US Interior Department on Monday said it had paused all leases for offshore wind projects over unspecified national security risks, casting new doubt over the future of an industry detested by President Donald Trump.

Fuming Denmark summons US ambassador over Greenland envoy

Denmark said Monday it would summon the US ambassador after President Donald Trump appointed a special envoy to Greenland who immediately vowed to make the Danish autonomous territory "a part of the US".

Outcry follows CBS pulling program on prison key to Trump deportations

The leadership of CBS News was facing accusations of political meddling on Monday over a last-minute decision to not air a report on the notorious Salvadoran prison where US President Donald Trump has sent deported migrants.

Billionaire Ellison offers personal guarantee for son's bid for Warner Bros

Oracle tech tycoon Larry Ellison is offering a $40.4 billion personal guarantee to back Paramount's hostile bid for Warner Bros. Discovery, deepening a bidding war with Netflix, a statement said on Monday.

Tech stocks lead Wall Street higher, gold hits fresh record

Wall Street and Asian stock markets advanced on Monday, with tech stocks leading the way.

Telefonica to shed around 5,500 jobs in Spain

Telefonica will cut up to 5,500 jobs in Spain under a voluntary departure plan agreed with trade unions last week, the debt-laden telecoms firm said in a statement on Monday.

EU slams China dairy duties as 'unjustified'

Brussels hit back Monday at China slapping duties of up to 42.7 percent on some dairy products from the European Union, calling the move "unjustified".

Stocks diverge as rate hopes rise, AI fears ease

Stock markets diverged Monday and gold hit a record high as the latest round of US data boosted hopes for more interest rate cuts and concerns over AI spending subsided.

Swiss court to hear landmark climate case against cement giant

A Swiss court has decided to hear a landmark climate case pitting residents of a tiny Indonesian island being swallowed by rising sea levels against cement giant Holcim, NGOs helping the islanders said Monday.

Asian markets rally with Wall St as rate hopes rise, AI fears ease

Asian markets rallied Monday and gold hit a record high as the latest round of US data boosted hopes for more interest rate cuts, while worries over AI spending also subsided.

As US battles China on AI, some companies choose Chinese

Even as the United States is embarked on a bitter rivalry with China over the deployment of artificial intelligence, Chinese technology is quietly making inroads into the US market.

AI resurrections of dead celebrities amuse and rankle

In a parallel reality, Queen Elizabeth II gushes over cheese puffs, a gun-toting Saddam Hussein struts into a wrestling ring, and Pope John Paul II attempts skateboarding.

Third 'Avatar' film soars to top in N. American box office debut

"Avatar: Fire and Ash," the third installment in James Cameron's blockbuster sci-fi fantasy series, debuted atop the North American box office with $88 million in ticket sales in the weekend before Christmas, industry estimates showed Sunday.

China's rare earths El Dorado gives strategic edge

Buried in the reddish soil of southern China lies latent power: one of the largest clusters of crucial rare earths is mined around the clock by a secretive and heavily guarded industry.

Wheelchair user flies into space, a first

A German woman engineer on Saturday became the first wheelchair user to blast into space, taking a brief ride on a Blue Origin flight.

French culture boss accused of mass drinks spiking to humiliate women

Hiyam Zarouri was delighted when a senior civil servant at France's prestigious culture ministry reached out to her on Linkedin offering the then jobless 25-year-old career advice.

US Afghans in limbo after Washington soldier attack

Afghans who worked alongside US troops during almost two decades of war were once promised a home in the United States to shelter them from the extremist intolerance of the Taliban.

Nasdaq rallies again while yen falls despite BOJ rate hike

Resurgent artificial intelligence shares lifted the Nasdaq Friday for a second straight session while the yen retreated despite a Bank of Japan interest rate hike.

IMF approves $206 mn aid to Sri Lanka after Cyclone Ditwah

The International Monetary Fund said Friday that its board has approved $206 million in emergency financing for Sri Lanka, to help in the country's recovery from the devastating Cyclone Ditwah.

Stocks advance with focus on central banks, tech

Global stock markets mostly advanced on Friday as traders reacted to central bank activity and easing concerns over the technology sector.

France's budget hits snag in setback for embattled PM

A joint committee of French lawmakers on Friday failed to reach a compromise on the state budget for next year, parliamentary sources said, meaning France would not have a 2026 budget by year end.

Volatile Oracle shares a proxy for Wall Street's AI jitters

For a reading of Wall Street's shifting mood on the artificial intelligence investment boom, take a look at the daily fluctuations of Oracle stock, analysts say.

Japan hikes interest rates to 30-year-high

The Bank of Japan hiked interest rates to a 30-year high of 0.75 percent on Friday, the first increase since January, as it said the economy had shown signs of improvement.

Coin Press - Economy (English)