The Fort Worth Press

US indices finish at fresh records as ECB pauses rates again

Wall Street indices finished at fresh records Thursday on the back of strong US economic growth data while European stocks edged higher despite the European Central Bank signaling it was too soon to start considering interest rate cuts.

Biden lauds solid 2023 growth as reelection bid gains pace

US President Joe Biden and his Treasury chief touted the country's robust 2023 economic performance Thursday, with stronger than expected growth offering a boost as the Democratic incumbent revs up his reelection campaign.

Meta beefs up teen defenses at Instagram and Messenger

Meta on Thursday began blocking messages from strangers sent directly to young teens using Instagram or Messenger.

LVMH posts record sales and profit in 2023

The world's largest luxury goods group LVMH announced record results Thursday, even as growth slowed towards the end of last year and sales of spirits shrank.

Lloyds bank cuts almost 800 jobs in online switch

British retail lender Lloyds Banking Group on Thursday announced a net reduction of almost 800 jobs, as it slashes branch staff but boosts customer services.

Gravitational wave, Venus missions get European green light

The European Space Agency gave the green light to two missions on Thursday, one to detect ripples in spacetime called gravitational waves and another to probe the secrets of Earth's closest neighbouring planet Venus.

Microsoft lays off 1,900 staff after Activision gaming buyout

Microsoft is laying off 1,900 people, or eight percent of staff, from its gaming division as it consolidates the blockbuster buyout of "Call of Duty" maker Activision Blizzard.

US new home sales up in 2023, boosted by limited existing supply

Sales of new US homes jumped in 2023, according to government data released Thursday, supported by a lack of inventory in the existing homes market as mortgage rates remained elevated.

'Resilient' US economy defies recession fears to cap solid 2023

US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering a boost to President Joe Biden as he heads into reelection campaigning.

'Premature' to talk rate cuts, says ECB after pausing again

The European Central Bank froze borrowing costs again on Thursday and expressed caution on inflation, with president Christine Lagarde saying it was still too early to consider rate cuts.

US stocks rise on strong growth data

Wall Street indices rose Thursday on the back of strong US economic growth data but European stocks diverged as the European Central Bank signalled it was too soon to start considering interest rate cuts.

Top Venezuela, Guyana diplomats meet on Essequibo border dispute

The foreign ministers of Guyana and Venezuela met Thursday in Brazil's capital city to discuss the simmering crisis on their border over a disputed oil-rich region.

ECB pauses rates again as inflation eases

The European Central Bank froze borrowing costs again on Thursday even as inflation eases, signalling it was too soon to start considering rate cuts.

Boban resigns from UEFA over 'disastrous' Ceferin re-election plan

UEFA's chief of football Zvonimir Boban said on Wednesday he has resigned from his position after the body's president Aleksander Ceferin proposed plans for his possible re-election in 2031.

Balletcore, dunes and vamps at Paris couture week

Haute couture week in Paris showcases the fashion world's most elite outfits -- one-off, made-to-measure creations that the labels hope will adorn red carpets and high society events around the world.

European stocks drop before ECB rate call

European stock markets dropped in morning trades on Thursday as investors awaited an update on the outlook for eurozone interest rates.

Nokia sees 'challenging' 2024 after profits plunge

Finnish telecommunications equipment maker Nokia warned Thursday that it expects another tough economic environment in the first half of this year after its net profit sank in 2023.

Blinken sees growing partner in Angola on tour of African democracies

US Secretary of State Antony Blinken explored greater coordination with emerging regional partner Angola on Thursday, capping a tour of Africa to champion US-friendly democracies as global crises mount.

India rolls out red carpet for Macron as France eyes trade deals

President Emmanuel Macron was given a red carpet welcome and an elephant honour guard on Thursday as he started a two-day visit to India, with France eyeing lucrative deals with the world's fifth-largest economy.

Shanghai, Hong Kong rally on China stimulus hope, equity markets mixed

Shanghai and Hong Kong stocks built on their recent rally Thursday as traders awaited fresh pledges of stimulus from Chinese officials a day after they announced a measure to boost bank lending, though other Asian markets fluctuated.

Lagos styrofoam, plastics ban brings applause and concern

From trash-strewn pavements to street vendors packing meals in polystyrene containers, plastic waste is a constant menace in the urban landscape of Lagos, Nigeria's economic capital and the continent's most populous city.

Japan craft made successful pin-point Moon landing, space agency says

Japan's "Moon Sniper" craft made a pin-point lunar landing despite last-minute engine problems, the space agency said Thursday as it released the first images from the mission.

French court to rule on controversial immigration bill

France's highest constitutional authority will on Thursday issue a keenly-awaited verdict on whether an immigration bill adopted under pressure from the far-right is in line with its basic law.

Memory chip giant SK Hynix returns to profit on strong AI demand

The world's second-largest memory chip maker, South Korea's SK Hynix, said on Thursday it had returned to profit after four consecutive quarters of losses driven by demand for chips used in artificial intelligence.

From Japan to the world: how to translate a game

Behind the global success of Japanese video games lies a delicate task: appealing to overseas players whose expectations on issues such as sexism are increasingly influencing the content of major titles.

Shanghai, Hong Kong rally on China stimulus hopes, Asian markets mixed

Shanghai and Hong Kong stocks built on their recent rally Thursday as traders awaited fresh pledges of stimulus from Chinese officials a day after they announced a measure to boost bank lending, though other Asia markets fluctuated.

Indonesian women hope election breaks them into boys' club

Indonesia's election lineup next month will be dominated by men, but a number of women are trying to break into a political scene long overshadowed by patriarchal elites.

ECB to stand pat and urge patience on rate cuts

The European Central Bank is expected to stand pat Thursday and call for patience in the ongoing battle against inflation, pushing back against market hopes of rapid interest rate cuts.

What US economic measures can be expected if Trump is reelected?

Former US president Donald Trump campaigned on the economy during his failed reelection bid in 2020 and it remains a major theme in his push to retake the White House again in 2024.

Tesla sees slower 2024 volume growth as earnings miss estimates

Tesla reported lower fourth-quarter operating profits despite higher revenues Wednesday, following a series of auto price cuts as Elon Musk's electric vehicle giant warned of slower volume growth in 2024.

Global stocks mixed as S&P 500 closes at new record

Global stocks mostly rose Wednesday, fueled by some strong earnings results in New York, robust business activity in Europe, and intervention by regulators in China.

Spurs tycoon Lewis pleads guilty to insider trading: prosecutor

The billionaire British former owner of Premier League side Tottenham Hotspur, Joe Lewis, pleaded guilty to insider trading in a US federal court on Wednesday, a prosecutor said.

The Fort Worth Press - Economy (English)

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