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France's Macron lands in Riyadh on surprise 'solidarity' visit

French President Emmanuel Macron landed in Riyadh in a surprise "solidarity" visit, making him the first Western leader to touch down in the kingdom since Yemen's Iran-backed Houthis intensified their attacks this month.

South Africa eases fuel pain as growth slows

South Africa announced fresh fuel-relief measures on Wednesday to cushion motorists and commuters battered by record pump prices as uncertainty roils global energy markets.

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ECB warns of 'looming recession' as it again hikes rates

The European Central Bank announced another jumbo interest rate hike on Thursday and said further increases would follow to combat soaring inflation, even as its president, Christine Lagarde, warned a eurozone recession was looming.

Israel, Lebanon strike 'historic' maritime border deal: US

Israel and Lebanon struck a US-brokered maritime border deal on Thursday, the White House announced, paving the way for lucrative offshore gas extraction by the neighbours that remain technically at war.

ECB unveils another jumbo rate hike to tackle inflation

The European Central Bank on Thursday rolled out another bumper rate hike to combat soaring inflation, despite growing concern that the eurozone is hurtling towards a painful recession.

N. Ireland moves closer to fresh elections over post-Brexit impasse

Northern Ireland on Thursday appeared headed for a second election this year after the leader of the pro-UK Democratic Unionist Party said his grouping had not changed its position on contentious post-Brexit trade rules.

Israel, Lebanon to strike 'historic' maritime border deal

Israel and Lebanon Thursday separately signed a US-brokered maritime border deal which paves the way for lucrative offshore gas extraction by the neighbours that remain technically at war.

Euro holds above dollar parity before ECB

The euro held above parity with the dollar Thursday but eurozone stocks dropped as the European Central Bank prepares to announce another big hike to interest rates in the face of sky-high inflation.

Climate plans would allow up to 2.6C of global warming: UN

Country climate pledges leave the world on track to heat by as much as 2.6 degrees Celsius this century, according to a United Nations assessment Wednesday warning that emissions must fall 45 percent this decade to limit disastrous heating.

Israel, Lebanon set to sign 'historic' maritime border deal

Lebanon and Israel were Thursday expected to sign a US-brokered maritime border deal which would pave the way for lucrative offshore gas extraction by the neighbours that remain technically at war.

Profits crash at Volvo Cars on rising material costs

Swedish automaker Volvo Cars on Thursday rising raw material costs and inflation drove down profits in the third quarter.

'No trust': Clandestine world of Ukraine prisoner swaps

The five captured Russian soldiers stumbled out of the Ukrainian van with their heads covered in black balaclavas.

Huawei revenue down 2.2% in first three quarters of 2022

Revenue at Chinese telecom giant Huawei fell by 2.2 percent year on year in the first three quarters of 2022, company data showed Thursday, as Covid-19 and US sanctions dragged down sales.

Shell posts more bumper profits on high energy prices

British energy giant Shell on Thursday announced net profit totalling $6.7 billion in the third quarter, as oil and gas prices remain strong despite recent slides on easing supply fears.

Euro and pound hold gains, stocks mostly rise as rate fears ease

The euro, pound and yen all held their gains against the dollar Thursday and most equities rose as traders grow increasingly hopeful the Federal Reserve will slow its pace of interest rate hikes.

Transgender Thai media mogul buys Miss Universe pageant

A Thai media mogul and transgender rights campaigner has bought the firm that runs Miss Universe pageants for $20 million, according to a company announcement.

Lufthansa says 'left pandemic behind', books healthy profit

German airline giant Lufthansa said Thursday it had "left the pandemic behind" as it reported a robust third-quarter net profit, and predicted strong demand in the months ahead.

Credit Suisse launches radical overhaul to stabilise bank

Credit Suisse announced a radical series of measures Thursday aimed at turning around the beleaguered bank following huge third quarter losses, including revamping its investment banking unit, 9,000 job layoffs and raising fresh capital.

Hong Kong finance chief contracts Covid ahead of banking summit

Hong Kong's finance chief could have to miss an upcoming global banking summit in the city, after his office revealed Thursday he had tested positive for the coronavirus.

Lufthansa reports healthy profit, extending recovery

German airline giant Lufthansa on Thursday reported a net profit of 809 million euros ($814 million) in the third quarter, as the group extends a strong recovery from the pandemic.

IEA sees global emissions peaking in 2025

The International Energy Agency said Wednesday it believes global emissions will peak in 2025 as surging energy prices due the Russian invasion of Ukraine propel investment in renewables.

Kanye West 'escorted' out of Skechers offices

Kanye West was "escorted" by two executives out of the Skechers corporate offices after the rapper showed up uninvited, the shoe company said in a statement Wednesday.

High-profile Australian rape case abruptly ends in mistrial

A high-profile rape case that ignited nationwide protests across Australia abruptly ended Thursday in a mistrial, the latest twist in a courtroom saga involving some of the country's most senior politicians.

Samsung Electronics says Q3 operating profit down 31% on-year

South Korean tech giant Samsung Electronics on Thursday said its third-quarter operating profits were down 31.39 percent year-on-year after a global economic downturn hit demand for consumer electronics.

Credit Suisse chief unveils master plan to fix bank's woes

New Credit Suisse chief executive Ulrich Koerner is set to unveil his strategic master plan on Thursday, aimed at turning around the beleaguered bank following a string of scandals.

Ford reports loss as it ends VW-backed autonomous driving venture

Ford announced Wednesday it is ending an autonomous driving program with Volkswagen, resulting in quarterly loss, as the auto giants retreat from a joint venture that had sought to revolutionize transport.

Brazil's central bank holds 13.75% interest rate amid 'high' inflation

Brazil's central bank held its benchmark interest rate at 13.75% on Wednesday, remarking that inflation "remains high" despite receding for three months in a row, just four days before a presidential election.

12 women foreign ministers condemn Iran's crackdown

Women foreign ministers from a dozen nations led by Canada's Melanie Joly on Wednesday jointly condemned Iran's violent crackdown on women's rights, as protesters in the Islamic republic marked 40 days of unrest.

S.Africa to swallow part of Eskom's debt to keep it afloat

South Africa's treasury vowed Wednesday to take over more than half of Eskom's multi-billion-dollar debt to ensure the embattled energy utility's viability and curb the energy crisis that has put a break on growth.

Seeing no China progress, Boeing eyes other prospective MAX buyers

Boeing said Wednesday it is seeking other potential customers for its 737 MAX because China is still not taking delivery of the jetliners it has ordered.

Macron, Scholz tackle tensions in 'constructive' meeting

French President Emmanuel Macron hosted German Chancellor Olaf Scholz for lunch Wednesday, with both sides saying they made progress towards easing differences on energy and defence dogging the European Union's vital double act.

Boeing reports huge loss on defense contract woes

Aerospace giant Boeing reported a surprise $3.3 billion third-quarter loss Wednesday as it struggled with swelling costs on several defense programs, including the US presidential jet Air Force One.

US new home sales fall in September on rising mortgage rates

New home sales in the US dipped in September, official data showed Wednesday, as worsening affordability nudges ownership further out of reach for many.

Would-be crypto investors in Singapore could face risk awareness tests

People looking to trade cryptocurrency in Singapore may soon have to take a test to prove they understand what they are getting into, the central bank said Wednesday, as it looks to prevent clueless investors from bankrupting themselves.

The Fort Worth Press - Economy (English)