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In the Mexican town that makes emblematic Day of the Dead garlands

In a workshop in the Mexican town of San Salvador Huixcolotla, three men use small hammers and chisels to punch holes in thick sheets of tissue paper ahead of the Dia de Muertos (Day of the Dead) festival.

Judge orders Meta to pay $25 bn to New Mexico in Cambridge Analytica case

A New Mexico judge ruled Wednesday that Meta must pay $25 billion to the state after a jury found last month that the social media giant had deceived users in a case related to the Cambridge Analytica scandal, according to media reports.

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Musk floats 'general amnesty' of suspended Twitter accounts

New Twitter owner Elon Musk on Wednesday polled users on whether the site should offer a general amnesty to suspended accounts, using the same method he used to handle the case of Donald Trump.

Fed minutes extend rally in US stocks as dollar retreats

Wall Street stocks rose again Wednesday following Federal Reserve minutes signaling a moderation in its aggressive policy to counter inflation, while oil prices slumped amid worries over demand.

Most Fed officials say slower rate hike pace appropriate 'soon'

A majority of US Federal Reserve policymakers found that a slower pace of interest rate hikes would "likely soon be appropriate," the central bank said Wednesday.

Gucci parts ways with star designer Michele

Italian designer Alessandro Michele on Wednesday left Gucci, where he has overseen a surge in sales at the fashion powerhouse since 2015 but seen his star fade in recent seasons.

Grinding inflation clouds 'Black Friday' shopping bonanza

The Black Friday kickoff of the holiday shopping season is expected to bring especially deep discounts in 2022, but one challenge will be finding consumers confident enough to spend.

British medic set to train to become first 'parastronaut'

John McFall, who has become the first astronaut recruit with a disability, is a British doctor and former Paralympian who lost a leg in a motorbike accident.

Embattled Credit Suisse expects Q4 pre-tax loss

Credit Suisse predicted a surprise fourth-quarter pre-tax loss of up to $1.6 billion as the beleaguered bank undertakes a radical overhaul, sending stocks tumbling again on Wednesday.

European, US stocks held back by economic gloom

European and US stocks made modest gains on Wednesday on news that major economies contracted in November and as traders looked ahead to Federal Reserve committee minutes.

New home sales in US post surprise jump in October

New home sales in the US defied expectations and rose in October, government data showed Wednesday, despite mortgage rates remaining high.

European, US stocks waver on economic gloom

European and US stock markets wavered Wednesday on news that the eurozone and UK economies shrank in November but by less than the previous month.

Fans hope Glazer era is over as Manchester United owners consider sale

Fans gathered outside Old Trafford on Wednesday said they hoped the Glazers' time as owners of Manchester United was coming to an end as a leading supporters group insisted the Red Devils' loyal followers must have a stake in any new share structure.

Uniper rescue to cost Germany an extra 25 bn euros

Troubled gas giant Uniper on Wednesday said the German government would need to spend an additional 25 billion euros under a planned nationalisation to stave off the firm's collapse in the wake of Russia's war in Ukraine.

European equities waver on economic gloom

European stock markets wavered on Wednesday on news that the eurozone and UK economies shrank in November, but by less than the prior month.

Gucci set to part ways with star designer Michele: report

The Italian designer Alessandro Michele is set to leave Gucci, where he has overseen a surge in sales at the fashion powerhouse since 2015 but seen his star fade in recent seasons, according to a report in industry bible Women's Wear Daily on Wednesday.

Credit Suisse expects Q4 pre-tax loss of $1.6 bn

Credit Suisse stocks tumbled again Wednesday after announcing it expects a surprise fourth-quarter pre-tax loss of up to $1.6 billion as it launches into a radical overhaul of its operations.

Markets rise on rate hopes but China Covid casts shadow

Asian and European markets rose Wednesday as traders flitted between hopes for a halt in sharp US interest rate hikes and concern that a surge in China's Covid-19 cases will see officials impose more painful lockdowns.

Asian markets rise on rate hopes but China Covid casts shadow

Asian markets rose Wednesday but traders flitted between hopes for a halt in sharp US interest rate hikes and concern that a surge in China's Covid cases will see officials impose more painful lockdowns.

Foreign university students sold 'dreams' in north Cyprus

Foreign students are big business in northern Cyprus, a tiny, breakaway statelet only recognised by Turkey, but some warn university recruiters are selling "dreams" in the internationally and economically isolated territory.

'But you're a woman': Iraqi furniture-maker carves up stereotypes

With hammer and saw, Nour al-Janabi is building her latest creation, a candy-pink sofa, in the carpentry workshop she runs in male-dominated and conservative Iraq.

Medical community frets over fate of Twitter

For days, doctors, scientists and public health experts have been telling their Twitter followers where to find them on other platforms if Elon Musk's newly-acquired company tanks.

'Dangerous rhetoric' stoking nuclear tensions: UN chief

United Nations chief Antonio Guterres warned on Tuesday against "dangerous rhetoric" stoking tensions among nuclear-armed rivals.

French regulator approves state bid to renationalise power giant

France's financial markets regulator on Tuesday approved the state's plan to fully control heavily indebted national power utility EDF that is to spearhead efforts to relaunch the French nuclear industry.

'Hardcore' Musk drives into a culture clash at Twitter

After snapping up Twitter, one of Silicon Valley's most iconic companies, Elon Musk swiftly introduced his no-holds-barred work ethic, setting up a bitter culture clash with thousands of workers who still believed in the platform's higher mission.

UK public finances worsen, as OECD warns on outlook

UK state borrowing jumped last month, official data showed Tuesday, as the government cushions consumers from soaring energy bills which the OECD said could further push up inflation.

UK probes Apple, Google over cloud gaming, browsers

Britain launched Tuesday an in-depth competition probe into the domination of US tech giants Apple and Google of cloud gaming and mobile internet browsers.

Germany examining legal action against FIFA armband stance

Germany's football association (DFB) said Tuesday it was examining if FIFA's threat to impose disciplinary action against players who wear the "OneLove" armband at the World Cup tournament is legal.

Battling inflation 'priority' as global growth slows: OECD

World economic growth is slowing due to decades-high inflation, the OECD said Tuesday, calling for "essential" further monetary policy tightening and "more targeted" government support.

European, US stocks up despite China Covid fears

European and US stocks rose and oil prices recovered from heavy losses on Tuesday despite fresh concern that China's latest Covid-19 outbreaks could herald a global recession.

European stocks dented by China Covid fears

European equities attempted to rebound Tuesday but were dented by concern over China's latest Covid-19 outbreaks.

Baidu revenue up 2% amid cost-cutting drive

Chinese internet giant Baidu reported on Tuesday third-quarter revenues of 32.5 billion yuan ($4.6 billion), representing a year-on-year increase of 2 percent.

Italy's draft budget centres on energy aid

Italy's new far-right government unveiled its 2023 draft budget on Tuesday, with most of the nearly 35 billion euros in spending going on the energy crisis rather than flashy electoral promises.

Asian markets mixed as China Covid worries grow

Growing fears about China's latest Covid-19 outbreak on Tuesday rattled investors, who fear authorities will revert to highly restrictive containment measures that have already dealt a chilling blow to the world's number two economy this year.

The Fort Worth Press - Economy (English)