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Investors pledge 230 billion euros at German summit: Merz

Major companies at an economic summit hosted by the German government have committed to investing around 230 billion euros ($258 billion), Chancellor Friedrich Merz said Tuesday in Berlin.

Solid GM results overshadowed by latest jump in commodity costs

Higher commodity costs due to the US-Iran war overshadowed General Motors' solid earnings and a new share buyback announcement Tuesday, sending shares lower.

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Young Arab artists dream of freedom in unique talent show

Young musicians, dancers, actors and comedians from across the Arab world took to the stage in Tunisia to express their visions of freedom, more than a decade after the Arab Spring uprisings.

Czechs take over EU presidency braced for 'bad weather'

The Czech Republic will take over the rotating six-month presidency of the European Union on Friday with all eyes on Ukraine, which has been battling Russian forces since February.

'No progress made' on Iran nuclear talks: US State Department

Indirect talks in Qatar's capital between Iran and the US on reviving a 2015 nuclear deal have concluded with "no progress made", a State Department spokesperson said late Wednesday.

Expanding NATO squares up to Russia as Putin slams 'imperial' alliance

The United States vowed Wednesday to reinforce Europe's defences in the wake of Russia's invasion of Ukraine, as NATO declared Moscow the West's greatest threat -- prompting Vladimir Putin to lash out at the alliance's "imperial ambitions".

Salah Abdeslam: Paris attacker facing rest of life in jail

Salah Abdeslam, handed a life sentence on Wednesday for his role in the November 2015 attacks on Paris, is the sole surviving member of the terror cell that massacred 130 people in the French capital.

Subscription version of Snapchat makes its debut

US tech firm Snap on Wednesday launched a subscription version of Snapchat as it looks to generate more money from the image-centric, ephemeral messaging app.

Francis Bacon painting of Lucian Freud sells for £43.3mn: Sothebys

A painting by Irish-born British artist Francis Bacon of fellow UK painter Lucian Freud sold on Wednesday for £43.3 million ($52.5 million, 50.2 million euros), according to Sotheby's auction house.

Recession fears haunt markets

Asian and European stock markets mostly nursed losses Wednesday on resurgent fear that sharp interest rate hikes, aimed at tackling runaway inflation, could spark recession, dealers said.

World equities slide on recession fear

Global stock markets nursed steep losses Wednesday on resurgent fear that sharp interest rate hikes, aimed at tackling runaway inflation, could spark recession, dealers said.

Germany plans return to debt-limit rules in 2023

Germany will reinstate its so-called debt brake in 2023 after suspending it for three years to cope with the impact of the coronavirus pandemic, sources in the finance ministry said Wednesday.

How long will it take to get over the inflation hump?

Inflation has surged back to levels not seen in many developed economies since the 1970s and 1980s. Economists and central bankers at the European Cental Bank's conference in Portugal warn it will take time before price rises cool.

Aquaculture drives aquatic food yields to new high

The amount of fish, shellfish and algae caught in the wild and farmed in aquaculture hit a record 214 million tonnes in 2020, the Food and Agriculture Organization said Wednesday.

Ukraine war dominates crucial NATO summit

NATO leaders were set Wednesday to invite Finland and Sweden to join after Turkey dropped objections, as the alliance looked to revamp its defences at a summit dominated by the war in Ukraine.

Mozambique still haunted by civil war as new conflict rages

As Mozambique battles a brutal Islamist insurgency, the legacy of a decades-long civil war still haunts the African nation where many former rebels refuse to disarm.

Far-flung Hong Kong diaspora linked by 'shared destiny'

Looking back on her decision to leave Hong Kong with her family just before the city's handover from Britain to China 25 years ago, Mary still believes she made the right call.

Hong Kong's blurring border with China a sign of things to come

From the hill in northernmost Hong Kong where Jasper Law stood, the border with China was obvious -- a narrow river dividing farmlands and fishponds from the gleaming skyscrapers of megacity Shenzhen.

Uber inks deal for Australian gig worker rights

Uber has reached a deal with a powerful Australian union after years of legal battles, campaigns and negotiations that will offer 100,000 drivers and food delivery workers more protections.

EU approves end of combustion engine sales by 2035

The European Union approved a plan to end the sale of vehicles with combustion engines by 2035 in Europe, the 27-member bloc announced early Wednesday, in a bid to reduce CO2 emissions to zero.

Range extenders: solar panels provide more juice to EVs

Startups and major carmakers are starting to incorporate solar panels on their electric vehicles, an addition that extends the range of the cars even if perpetual motion remains a dream.

EU insurance ban targets Russian oil exports

An EU ban on insuring ships transporting Russian oil could potentially hurt Moscow more than its embargo on the nation's crude, analysts say.

Philippine news site Rappler ordered to shut down

A Philippine news site co-founded by Nobel Peace Prize winner Maria Ressa has been ordered to shut down, the company said Wednesday, a day before President Rodrigo Duterte -- its arch-nemesis -- leaves office.

Global stocks split on China, US consumer confidence

European and Asian stocks climbed Tuesday and oil prices rallied as China relaxed hard-line Covid-19 policies, but Wall Street equities tumbled following weak consumer confidence data.

US boy, 8, shoots dead baby girl with father's gun

An eight-year-old boy shot dead a baby and wounded her toddler sister while playing with his father's gun in Florida last weekend, police said.

Russia demands Ukraine surrender as NATO readies for Finland, Sweden membership

Western allies vowed on Tuesday to boost NATO's defences and to back Ukraine to the end as Moscow demanded Kyiv's surrender.

Pro-Macron MP becomes France's first woman speaker

France's lower house of parliament on Tuesday agreed to pick an MP from President Emmanuel Macron's centrist coalition as the first woman speaker, despite the ruling alliance losing its majority in legislative elections.

South Africa escalates power cuts to acute levels

South Africa, a country plagued by power shortages, on Tuesday imposed the toughest electricity rationing in two and a half years after labour disputes disrupted production at several plants.

Party's over: Airbnb bans events permanently

Airbnb has made permanent its pandemic-era prohibition of parties at the properties rented out globally through its app, saying Tuesday the rules have been effective against problematic events.

Stocks split on China, US consumer confidence

European and Asian stocks climbed Tuesday and oil prices rallied further as China slashed the quarantine time for visitors, fuelling hopes of recovery for the world's second largest economy.

South Africa's Eskom announces further power cuts

South Africa, a country plagued by power shortages, on Tuesday imposed the the toughest electricity rationing in two and a half years after labour disputes disrupted production at several plants.

Record Ernst & Young fine in US for cheating on ethics exams

US authorities fined Ernst & Young a record $100 million over cheating on accounting ethics exams that the firm initially covered up from regulators, officials announced Tuesday.

Russia demands Ukraine surrender as G7 vows to make Moscow pay

Russia vowed on Tuesday its assault on Ukraine would continue until Kyiv surrenders, as world leaders warned that Moscow would pay for its aggression.

US likely to avoid recession, but rates need to climb: Fed official

The US economy will slow this year as intended and is expected to avoid a downturn, but the Federal Reserve will have to raise borrowing rates quickly, a top central bank official said Tuesday.

The Fort Worth Press - Economy (English)