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France's tourism sector worried about impact of riots

The images of France's riots posted and broadcast around the world have cast a pall on the country's important tourism sector, with many fearing worse consequences if violence returns.

Indonesia leader hits out at market downgrade warning

Indonesia's president lashed out at MSCI on Wednesday, accusing the index compiler of "trying to scare us" over its threat to downgrade the country's stock market.

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EU foreign policy chief hopeful on Iran nuclear deal in 'days'

The EU's foreign policy chief voiced hope Wednesday at reviving the Iran nuclear deal within days as Israel's leader, a strong opponent, made his case with US President Joe Biden.

Trump social network unwelcome in Google store over moderation issues

Former US president Donald Trump's Truth Social app is unwelcome in Google's app store until it abides by rules regarding content moderation including violent threats, the company said Wednesday.

Microsoft to create 36,000 data centre jobs in Qatar

Technology giant Microsoft announced Wednesday it will create 36,000 jobs in Qatar to boost the Gulf state's efforts to move away from reliance on its oil and gas industry.

Lithuanians slam 'one-sided' reax to Gorbachev death

For many in the West, Mikhail Gorbachev, the last leader of the Soviet Union who has died at the age of 91, is worth applauding for his role in ending the Cold War.

UK political upheaval and stagflation fears weigh on pound

Political uncertainty and growing economic woes, including spiralling inflation and the threat of a recession, are weighing heavily on the British pound, against both the US dollar and the also struggling euro.

IAEA wants 'permanent presence' at Russia-held nuclear plant

UN inspectors said Wednesday they would seek to establish a permanent presence at a Russian-held plant in southern Ukraine to avoid "a nuclear accident" at the facility on the frontline of the fighting.

Snap confirms cutting 20 percent of staff

Snapchat's parent company confirmed Wednesday it is cutting 20 percent of staff, as the troubled messaging app attempts to dig itself out amid competition and revenue woes, as well as recent quarterly losses.

Italy picks bid by US fund, Delta and Air France for ITA Airways

Italy announced Wednesday it chose a bid by US investment fund Certares, in partnership with Delta Airlines and Air France-KLM, for exclusive talks to take over national carrier ITA Airways.

'I never corrupted anyone,' diamond magnate tells Swiss court

A French-Israeli businessman and diamond magnate insisted Wednesday he had never bribed anyone, as he sought to overturn his conviction in a vast corruption case involving mining rights in West Africa.

Crisis-hit Sri Lanka's inflation hits another record

Crisis-hit Sri Lanka's inflation hit an eleventh consecutive monthly record in August, official data showed on Wednesday, rising to 64.3 percent as the International Monetary Fund extended bailout talks by one more day.

India quarterly GDP up 13.5% on pandemic rebound, below expectations

A post-pandemic rebound saw India's economy grow 13.5 percent in the June quarter, official figures showed Wednesday, but the expansion was below forecasts thanks to the headwinds buffeting Asia's third-largest economy.

Canada economy accelerates, posts 3.3% growth in Q2

Canada's economy accelerated in the second quarter of 2022, benefitting from higher commodity prices after emerging from pandemic lockdowns to post annualized growth of 3.3 percent, the government statistical agency said Wednesday.

UK regulator bans Unilever's 'misleading' green ad

Britain on Wednesday banned an advertisement from consumer goods group Unilever over "misleading" environmental claims for its laundry detergent brand Persil.

India GDP surges 13.5% on pandemic rebound, despite headwinds

A post-pandemic rebound saw India's economy grow 13.5 percent in the June quarter, official figures showed Wednesday, but inflation and other headwinds signal a looming slowdown in Asia's third-largest economy.

Insurance payments on defaulted Russia debt to move forward

Russia's default on its international debt was fully acknowledged Wednesday by a little-known panel of financial firms when they set a date for the procedure to compensate insured investors.

European stocks drop on record eurozone inflation

European equities slid Wednesday as record-high eurozone inflation fanned fears that more interest rate hikes could herald recession.

IAEA team reaches Zaporizhzhia en route to Russia-held nuclear plant

IAEA inspectors arrived in the southern Ukrainian city of Zaporizhzhia Wednesday ahead of a visit to a Russian-held nuclear power plant, after fresh shelling near Europe's largest atomic facility.

Eurozone inflation jumps to new record 9.1%

The eurozone inflation rate hit a new record in August, official data showed on Wednesday, increasing pressure on the European Central Bank to hike rates to tame Ukraine war-fuelled prices.

China's factory activity contracts for second straight month in August

China's factory activity shrank in August for the second month in a row, official data showed Wednesday, as the sector was hit by strict zero-Covid restrictions and extreme heat.

Asian markets down again as traders eye more monetary tightening

Stock markets resumed their downward trend Wednesday, with traders fearing the Federal Reserve's determination to beat inflation with higher interest rates will tip the world's top economy into recession.

China's August factory activity weakens for second straight month

China's manufacturing activity dropped in August for the second month in a row, official data showed Wednesday, as strict zero-Covid restrictions and extreme heat hit growth.

London mayor warns of possible 'Tube' fare hikes

London's mayor warned Tuesday of possible fare rises and service cuts after the capital's transport operator struck a 20-month funding deal with the UK government that still leaves a budget "gap".

Will take 'a few years' to get US inflation back to 2%: Fed official

The Federal Reserve is committed to bringing soaring US inflation back down to two percent, but that will take "a few years," a top central banker said Tuesday.

Baltic nations to boost offshore wind energy seven-fold by 2030

Nations bordering the Baltic Sea agreed Tuesday to increase offshore wind energy to 20 gigawatts by 2030, as Europe seeks to wean itself off Russian gas following Moscow's invasion of Ukraine.

Stocks extend Fed-induced sell-off

Stock markets mostly tumbled again on Tuesday, extending losses that were sparked by last week's Federal Reserve warning that more monetary tightening was on the way.

Barbecue-bashing French green MP stirs up carnivores

Are barbecues "a symbol of virility"? A prominent French green MP has sparked a national debate by suggesting that red meat is macho and grilled ribs are a gender issue.

Eurozone equities bounce from Fed-induced sell-off

Eurozone stocks rebounded Tuesday from recent losses, but London gains were capped as investors played catch-up after a long weekend.

Baidu reports 5% year-on-year decrease in Q2 revenue

Chinese internet giant Baidu Inc. on Tuesday announced second-quarter revenues of 29.6 billion yuan ($4.3 billion), down five percent from last year after the company faced a challenging economic climate and tight controls on China's once-thriving tech sector.

China state support for economy this year exceeds 2020, premier says

State support for China's economy this year is now greater than it was in 2020, Beijing's premier has said, surpassing help given at the height of the coronavirus pandemic as the country grapples with the impacts of its zero-Covid policy and a property sector crisis.

We're hiring: babies wanted for Japan nursing home

A nursing home in southern Japan is "hiring" babies for a very important job -- to keep its elderly residents company and make them smile. The salary? Nappies and milk formula.

French-Indian textile designer brings back Mughal patterns

Textiles designer Brigitte Singh lovingly lays out a piece of cloth embossed with a red poppy plant she says was probably designed for emperor Shah Jahan, builder of the Taj Mahal, four centuries ago.

China arrests hundreds over banking scandal that sparked rare protests

Chinese police have arrested more than 200 suspects linked to one of the country's biggest-ever banking scandals, which triggered rare mass protests.

The Fort Worth Press - Economy (English)