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Asian tech stocks mixed after Wall St losses, eyes on earnings

Asian stocks were mixed Monday following a Wall Street selloff fuelled by growing worries over the AI investment boom, though bargain-buying ahead of upcoming earnings provided some support.

Asian stocks start week on back foot, tracking tech-led Wall St losses

Asian stocks mostly fell Monday as traders tracked a tech-heavy selloff on Wall Street that was fuelled by growing worries over the AI investment boom.

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Starbucks profits edge higher despite China weakness

Robust sales in North America were offset by weakness in China as Starbucks reported a modest profit increase Tuesday as it boosts investment in US stores amid a unionization campaign.

Pfizer sees high demand for Covid-19 pill as profits jump

Pfizer executives said Tuesday they are confident of strong demand for the company's Covid-19 antiviral treatment amid easing pandemic rules as the big drugmaker reported another round of strong earnings.

Supreme Court leak ignites US abortion firestorm

President Joe Biden urged voters Tuesday to defend their "fundamental" rights after a leaked Supreme Court draft on ending nationwide legal abortion sparked a political firestorm around one of America's most divisive ethical issues.

US reviewing tariffs on Chinese goods set to end in July

American tariffs on hundreds of billions of dollars of Chinese imports are due to expire in July, but could be extended if enough industries ask for it, US officials said Tuesday.

US faces seismic abortion shift, Biden backs 'fundamental' right

President Joe Biden called on American voters Tuesday to defend the "fundamental" right to abortion after a leaked draft suggested the Supreme Court is poised to strike down the longstanding decision protecting a woman's right to terminate a pregnancy.

Fed convenes to launch new salvo against record US inflation

The US central bank opened its policy meeting Tuesday, which is expected to produce a big rate hike as policymakers go on the attack against record high inflation.

EU members seek opt-outs from Russian oil embargo

European officials were preparing a new package of sanctions Tuesday to punish Russia for its invasion of Ukraine, but some members are jockeying to opt out of an oil embargo.

Russia attacks Mariupol plant, UK PM address Ukraine parliament

Russian forces launched an offensive Tuesday against the Azovstal steel plant, the last hold-out of Ukrainian forces in the battered southern port city of Mariupol, after a ceasefire that had allowed civilians to evacuate.

Pfizer Q1 revenues jump 77% to $25.7 bn on Covid-19 vaccine

Pfizer reported another quarter of huge revenues growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year profit forecast due in part to shifts in foreign exchange.

Stock markets steady awaiting start of Fed meet

Major stock markets mostly steadied Tuesday, with traders braced for a sharp US interest rate hike to curb soaring inflation.

Philippines' Duterte vows to ban online cockfighting

Philippine President Rodrigo Duterte has vowed to ban online cockfighting following outcry over the industry sparked by the disappearance of dozens of workers and concerns about the social costs of gambling.

BP plunges deep into red on pullout from Russia

British energy giant BP said Tuesday that its decision to pull out of Russia as a result of the war in Ukraine pushed it deep into the red in the first three months of this year.

Asian markets drop as traders brace for Fed hike

Asia stocks fell Tuesday as markets braced for a sharp US interest rate hike and similar moves by other central banks as they struggle to control inflation, with traders increasingly worried about another possible recession.

BP plunges into $20.4-bn loss on Russia exit

British energy giant BP on Tuesday plunged into a huge net loss in the first quarter after it decided to exit Russia over the country's invasion of neighbour Ukraine.

Hong Kong plummets towards bottom of press freedom ranking

Hong Kong has plummeted down an international press freedom chart as authorities have wielded a draconian new security law to silence critical news outlets and jail journalists, a new report said on Tuesday.

Roe v. Wade: 1973 case that enshrined US abortion rights

A US Supreme Court draft opinion leaked to the press on Monday suggests a majority of justices are ready to overturn the landmark Roe v. Wade, shredding nearly 50 years of constitutional protections on abortion rights.

Most Asian markets drop as traders brace for Fed hike

Asia stocks mostly fell Tuesday as markets brace for a sharp US interest rate hike and similar moves by other central banks as they struggle to control inflation, with traders increasingly worried about another possible recession.

Japan's 'womenomics' pioneer says mindsets must change

Three million women joined Japan's workforce in the past decade, and it's at least partly thanks to top executive Kathy Matsui, who coined the "womenomics" catchphrase that inspired government policy.

New York Amazon workers deal setback to union drive

Workers at an Amazon facility in New York have roundly voted against unionization -- dealing a setback to a burgeoning organized labor movement one month after a landmark win at a nearby warehouse.

US stocks gain ahead of Fed meeting but Asia, Europe struggle

European and Asian indices fell on Monday but Wall Street closed higher as markets worldwide brace for this week's Federal Reserve meeting, where the US central bank is set to hike rates amid worries it could spark a recession.

Bid to create union at second Amazon site fails in New York

Workers at an Amazon facility in New York rejected a unionization campaign, according to a vote count Monday, one month after the group's upset triumph at a neighboring warehouse.

Stock markets, oil slip on weak Chinese data, looming US rate hike

Stock markets slipped and oil prices also fell Monday as traders tracked weak Chinese economic data and a looming US interest rate hike that could tame inflation but also thwart growth.

EU shores up defence against Russia energy threats

European Union ministers met Monday to respond to Russia cutting gas supplies to Poland and Bulgaria -- and discuss plans for a possible oil embargo to punish Moscow for invading Ukraine.

Spirit Airlines favors Frontier deal, rejects JetBlue bid

Spirt Airlines reiterated Monday its support for a merger with Frontier Airlines, saying it concluded a competing offer from JetBlue Airways involved excessive regulatory risk.

Finnish group scraps nuclear plant deal with Russia's Rosatom

Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear power plant, citing risks linked to the Ukraine war.

Delhi driver grows garden on autorickshaw roof to beat the heat

Yellow and green autorickshaws are ubiquitous on New Delhi's roads but Mahendra Kumar's vehicle stands out -- it has a garden on its roof aimed at keeping passengers cool during the searing summer season.

EU targets Apple Pay in latest Big Tech antitrust case

The EU accused Apple on Monday of blocking rivals from its popular "tap-as-you-go" iPhone payment system, opening a fresh battlefront between the US tech giant and Brussels.

Markets, oil fall on weak Chinese data

Stock markets and oil prices fell in holiday-thinned trade Monday as traders digested weak Chinese economic data and a looming US interest rate hike.

Tanker strike worsens fuel woes in crisis-hit Sri Lanka

A strike by owners of fuel tankers over the weekend renewed Sri Lanka's long queues for diesel and petrol on Monday as pumps ran dry, compounding the island nation's economic and energy crisis.

'Operating normally': Russia shows seized Ukraine nuclear plant

Nearly two months after it was seized by Russian forces, there are few signs of the fighting for the Zaporizhzhia nuclear power plant in Ukraine that sparked global fears of a potential atomic disaster.

Can pee help feed the world?

"Go pee on the rhubarb!"

Japan's ENEOS withdraws from Myanmar gas project

Japanese energy conglomerate ENEOS Holdings said Monday it will withdraw from a gas project in coup-hit Myanmar, days after its Thai and Malaysian partners announced they would pull out.

The Fort Worth Press - Economy (English)