Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
Business
Macron scrambles to find new French PM to stave off a political crisis after Bayrou ousted
On Monday, Bayrou suffered a crushing loss in a confidence vote he had himself called, plunging France into fresh uncertainty...
Geostrategy
Geostrategy
Egypt calls for renewal of Black Sea grain export deal
MOSCOW, RUSSIA - Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...
- Moscow withdrew from the agreement after protesting for months that parts of the deal that allowed for export of Russian fertilizer were not honored.
- Russia refused to extend a deal brokered by UN and Turkey, under which Ukrainian grain exports passed through the Black Sea to reach global markets.
Arts & Culture
Saudi club Al-Ahli signs Manchester City player Riyad Mahrez
London, United Kingdom - Manchester City forward Riyad Mahrez has left the treble winners to join Saudi side Al-Ahli, the two...
- The 32-year-old Algerian winger joined Pep Guardiola's team in 2018 from Leicester, winning 11 major trophies at the club.
- City agreed a fee understood to be worth up to £30 million ($38.6 million) with Al-Ahli last week.
Business
ExxonMobil Q2 profits $7.9bn
Profits fell on lower refining margins, natural gas prices.
- Natural gas prices are down sharply from the year-ago period following a mild winter.
- The comparative weakness in refinery margins reflects sluggish economic conditions.
Geostrategy
Turkey, Italy seek joint hosting of Euro cup 2032, says UEFA
Paris, France - Italy and Turkey have asked to jointly host the 2032 European Championship, UEFA announced on Friday. European football's...
- Turkey, who lost out to Germany for Euro 2024, entered the process for both editions, while Italy decided to bid only for 2032.
- In 2021, UEFA initiated a bidding process for the hosting of two editions of its European Championship, in 2028 and 2032.
Business
Italy’s Eni Q2 profits down
Adjusted net profit also fell down 49 percent in the second quarter.
- Like its competitors, Eni benefited last year from the spike in gas and oil prices, fuelled by the economic recovery after the pandemic and Russia's invasion of Ukraine.
- Eni posted a record net profit of 13.8 billion euros in 2022, its best result in more than two decades.
G20 environment ministers race to reach climate consensus
Most delegations were led by their environment and climate change ministers, while the US delegation was headed by Special Presidential Envoy...
- Any agreements reached at the one-day conference in Chennai will be signed by the leaders of G20 nations during a summit in New Delhi this September
- The meeting comes only days after the group's energy ministers were criticised for failing to agree on a roadmap to cut fossil fuels from the global energy mix
Yen swings after Bank of Japan policy tweak, Asian equities mixed
After a closely watched meeting, the Bank of Japan said it would allow "greater flexibility" in government bond markets, having...
- The currency has been hammered for more than a year as the BoJ refused to shift from its loose policy
- With prices picking up at home and the yen struggling, pressure has been growing on the bank to change tack
Evergrande’s e-vehicle unit shares plunge 70% after trading resumes
The company on Wednesday announced its earnings for 2021 and 2022 -- showing a loss of almost $12 billion --...
- Officials called a halt to dealing in China Evergrande New Energy Vehicle Group (NEV) on April 1 last year after it failed to release its financial results
- In its financial results posted Wednesday, NEV said its debt hit 183.9 billion yuan ($25.6 billion) at the end of December 2022
Ford raises 2023 profit outlook
Profits in the second quarter were $1.9 bn.
- Profits in the second quarter were $1.9 billion, nearly triple the year-ago level on revenues of $45 billion
- Ford slowed its timeframe for ramping up EV production, pushing back the timeframe to reach 600,000 per year in 2024
Saudi summons Danish diplomat to protest Quran burning
During the meeting on Thursday with the Danish charge d'affaires, foreign ministry officials delivered a protest note urging an end...
- The far-right group Danske Patrioter on Monday posted a video in which a man is seen desecrating and burning what appeared to be the Muslim holy book.
- Saudi Arabia has also denounced protests by a Sweden-based Iraqi refugee who last month burned pages of the Quran outside Stockholm's main mosque.
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Stocks climb eyeing US rate cut, political turbulence
A steep downward revision to US job creation cemented expectations that the Federal Reserve would begin lowering its benchmark rate...
Business
Company News
Latest News
Google says to buy Wiz for $32 bn
The all-cash deal brings Wiz into the Google Cloud operation.
Business
Israel pounds Gaza in strikes that rescuers say killed 220, Hamas says Netanyahu torpedoing ceasefire
In a statement, Hamas said "Netanyahu and his extremist government have decided to overturn the ceasefire agreement, exposing the prisoners...
Geostrategy
Nvidia showcases AI chips as it shrugs off DeepSeek
San Francisco, United States - Nvidia chief Jensen Huang is expected to showcase cutting-edge chips for artificial intelligence (AI) and...
Business
Most Read
Science
Webb telescope directly observes exoplanet CO2 for first time
The gas giants are not capable of hosting extraterrestrial life, but do offer clues in a lingering mystery about how...
- The HR 8799 system, 130 light years from Earth, is only 30 million years old -- just a baby compared to our solar system's 4.6 billion years.
- A US-led team of researchers used Webb to directly detect carbon dioxide in the atmosphere of all four of the system's known planets, according to the study.
Economy
OECD lowers global growth projections over tariffs, uncertainty
"We are navigating troubled waters," said the OECD's chief economist Alvaro Santos Pereira as he summed up the world's economic...
- While global economic activity remained "resilient" in 2024 with a 3.2 percent increase in GDP, the OECD trimmed back its 2025 projection from 3.3 percent growth to 3.1 percent.
- That was due to "higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending".
Geostrategy
Mediators push for Gaza ceasefire as Israel, Hamas remain stuck on hostage, withdrawal demands
Hamas has consistently demanded negotiations for the second phase, which would include a permanent end to the war, a complete...
- During the first phase of the truce agreement, Hamas released 33 hostages, including 8 deceased, and Israel released 1,800 Palestinians
- Since then, Hamas has consistently demanded negotiations for the second phase, which would include a permanent end to the war