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US Fed holds interest rates steady despite 'too high' inflation

The US Federal Reserve on Wednesday held interest rates steady, even as its Chairman Kevin Warsh said inflation remained "too high" but insisted that politics played no part in the central bank's decision not to continue raising rates days before crucial midterm elections.

Pioneering US labor leader Dolores Huerta dies at 96

Dolores Huerta, the US labor leader and civil rights icon whose union work changed the lives of migrant workers, has died, her family said Wednesday. She was 96.

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HSBC announces surprise retirement of chief executive

Global bank HSBC announced Tuesday the shock departure of chief executive Neil Quinn, who will retire after overhauling the group in an "intense" five-year tenure weathering a Covid fallout, simmering geopolitics, and shareholder pressure to spin off Asia assets.

Most Asian markets build on Wall St rally, yen holds rebound

Markets mostly rose Tuesday following advances on Wall Street, while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve's upcoming policy decision.

Plastic pollution talks move closer to world-first pact

A fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa early on Tuesday with a world-first pact said to be within reach by year's end but without a cap on the production of polymers.

Dying salmon trouble Norway's vast fish-farm industry

They are hailed for their omega-3 fatty acids and micronutrients, but Norway's salmon are not in the best of health themselves at the fish farms where they are bred.

Microsoft CEO pledges $1.7 bn AI, cloud investment in Indonesia

Microsoft's chief executive officer met the president of Indonesia on Tuesday, pledging a $1.7 billion investment in artificial intelligence and cloud computing to help develop the archipelago's AI infrastructure.

HSBC says chief executive Noel Quinn 'to retire'

Banking giant HSBC said Tuesday that chief executive Noel Quinn would retire after overseeing a "successful transformation" of the firm and record profits during his almost five years in charge.

L'Occitane stocks surge in Hong Kong after privatisation offer

Shares in French skincare giant L'Occitane jumped almost 13 percent in Hong Kong on Tuesday as they resumed trading after its owner offered to take it private.

Asian markets build on Wall St rally, yen holds bounce

Asian markets extended a rally Tuesday following advances on Wall Street, while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve's upcoming policy decision.

Asia's first spot bitcoin, ether ETFs start trading in Hong Kong

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub.

Ex-Binance chief set for sentencing in US court

US federal prosecutors are calling for ex-Binance chief Changpeng Zhao to be sent to prison when he appears Tuesday for sentencing on money laundering charges.

Indian forest activist at the coalface of mining battle

Deep in an Indian forest, activist Alok Shukla greets friendly faces among a small band of protesters sitting in the way of plans to turn the surrounding wilderness into coal mines.

Poor Bogota suburb wows tourists with street art

On Sundays in Ciudad Bolivar, one of Bogota's poorest neighborhoods, residents are treated to the incongruous sight of tourists riding the cable car that on weekdays transports thousands of workers to their jobs.

New post-Brexit controls: a thorn for UK horticulture

Yuccas from Spain, rhododendrons from Germany or Dutch hazelnut trees -- flowers and plants arriving at UK ports from the European Union face tougher post-Brexit border checks from Tuesday, meaning delays and extra costs for importers.

Samsung says Q1 operating profits soar nearly tenfold on-year

Samsung Electronics said Tuesday that its first-quarter operating profits had risen nearly tenfold year-on-year -- a 931.8 percent increase -- amid recovering chip prices and growing demand.

NATO chief says Ukraine can still win war despite Russian advances

NATO chief Jens Stoltenberg on Monday said it was "not too late" for Ukraine to win the war, despite its outmanned and outgunned military struggling in the face of Russian advances while waiting for stalled weapons deliveries from allies.

Mining giants Vale, BHP propose $25 bn settlement over Brazil dam collapse

Mining giants Vale and BHP have proposed paying a nearly $25 billion settlement over a 2015 dam collapse in Brazil that killed 19 people and flooded dozens of towns, Vale said Monday.

Walrus dies from bird flu on Arctic island: researcher

The first case of a walrus dying from bird flu has been detected on one of Norway's Arctic islands, a researcher said Monday.

US stocks rise on tech outlook as yen rebounds

The yen rebounded Monday from a 34-year low against the dollar after what some traders speculate could have been the first intervention by Japanese authorities to support the weakening currency since late 2022.

World Central Kitchen resuming Gaza work after 7 staff killed

The World Central Kitchen nonprofit, which supplied meals in Gaza until seven of its aid workers were killed by an Israeli strike nearly a month ago, is to resume operations, its CEO said.

G7 to commit to reducing plastic production: French ministry

The G7 is expected to commit to reducing plastic production in order to tackle the global scourge of pollution, France's ecological transition ministry said Monday.

Yen swings after hitting new 34-year low; stocks mixed

The yen swung in volatile trade Monday as it rebounded soon after hitting a 34-year low against the dollar, fuelling speculation Japanese authorities had intervened to support the currency for the first time since late 2022.

Filipino farmers struggle as drought and heatwave hits

Filipino farmer Daniel Velasco pumps water from a well in a desperate attempt to save his wilting vegetables, as a scorching heatwave and the worst drought in years hits crops.

Blackstone strikes chord with $1.6 bn bid for UK music firm

Struggling UK music rights owner Hipgnosis Songs Fund agreed Monday to an improved $1.6-billion takeover from US private equity firm Blackstone, which trumped a rival bid from Concord.

Yen swings after hitting new 34-year low, stocks rally

The yen swung wildly Monday as it surged soon after hitting a fresh 34-year low against the dollar, fuelling speculation Japanese authorities may have intervened to support the currency for the first time since late 2022.

Yen rebounds after hitting 34-year low past 160 per dollar

The yen surged after diving to a new 34-year low past 160 per dollar on Monday as a forecast-beating US inflation reading dented expectations for Federal Reserve interest rate cuts this year.

Musk leaves Beijing after Tesla wins key China security clearance

Tech billionaire Tesla CEO Elon Musk boarded a plane departing Beijing on Monday, an AFP journalist said, after a whistlestop visit that saw his firm win a key data security clearance from Chinese authorities.

Yen sinks to 34-year low past 160 per dollar

The yen sank to a new 34-year low past 160 per dollar on Monday after a forecast-beating US inflation reading dented expectations for US interest rate cuts this year.

Yen slides to fresh 34-year low against dollar, stocks rally

The yen slumped to a fresh 34-year low against the dollar on Monday, fuelling expectations Japanese authorities would step in to support their currency for the first time since late 2022.

Zendaya helps 'Challengers' net top spot in N.America box office

MGM's tennis-based romance "Challengers" opened this weekend atop the North American box office, taking in an estimated $15 million behind positive reviews and the powerful net game of actor/singer Zendaya, industry watcher Exhibitor Relations reported Sunday.

Gaza truce effort builds with Hamas to respond to Israel proposal

Diplomatic efforts intensified on Sunday to reach a long sought-after truce and hostage-release deal in Gaza, as Hamas said it would travel to mediator Egypt to deliver its response to Israel's latest proposal.

Tesla CEO Musk meets China's number two official in Beijing

Tech billionaire and Tesla CEO Elon Musk met in Beijing on Sunday with China's number two official, Premier Li Qiang, who promised the country would "always" be open to foreign firms.

Push for truce ramps up as Israel pummels Gaza

Diplomatic efforts increased on Sunday to reach a long sought-after truce and hostage-release deal in Gaza, as Israel carried out further air strikes and shelling on the war-battered territory.

The Fort Worth Press - Economy (English)