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Markets swing after Wall St losses as traders weigh US rates outlook

Asian markets were mixed Monday following a sell-off on Wall Street as investors scale back their bets on Federal Reserve interest rate cuts owing to worries Donald Trump could reignite inflation.

Gabon early results show voters back new constitution

Gabon's military rulers announced their new constitution had been overwhelmingly approved in a referendum, according to provisional results it published Sunday, marking a new chapter for the oil-rich African nation.

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High time: Dutch savour legal pot trial

Cannabis smokers in two Dutch cities will be able to light up legally for the first time Friday, as authorities roll out a trial decriminalising the production and supply of weed.

Asian markets track Wall St to extend Fed-fuelled rally

Asian markets built on the previous day's rally Friday as investors recalibrated their outlook for the new year after the Federal Reserve indicated it will cut interest rates.

Autonomous auto venture Cruise cuts 24% of staff

US autonomous driving venture Cruise announced Thursday it will eliminate roughly a quarter of its workforce as it slows commercialization to address safety issues.

Global stocks rise coyly as ECB, BoE press pause after Fed pivot

Global equities made cautious gains Thursday with Frankfurt and Paris briefly touching all-time peaks as the ECB and Britain pressed pause on rates after the Fed had sent Wall Street soaring on a pivot toward rate cuts next year.

ECB pauses again, pushes back on rate cut hopes

The European Central Bank froze borrowing costs again on Thursday and warned that the fight against inflation was not over, dousing investor hopes of early rate cuts next year.

ECB pauses again but warns on inflation

The European Central Bank froze borrowing costs again on Thursday but warned that inflation could pick up again in the near term, in an apparent pushback against market hopes of early rate cuts in 2024.

Moderna CEO says melanoma vaccine could be available by 2025

Moderna CEO Stephane Bancel told AFP his company's experimental vaccine against melanoma could be available in as little as two years, in what would amount to a landmark step against the most serious form of skin cancer.

BoE pauses, ECB tipped to follow as rate cut pressure mounts

The Bank of England held rates steady again Thursday with the European Central Bank expected to follow suit as inflation retreats, shifting investor attention to how fast policymakers will slash borrowing costs in 2024.

Meta rolls out Twitter rival Threads in the EU

Facebook owner Meta's text-based app Threads arrived in the European Union on Thursday, months after its global launch in July, Meta CEO Mark Zuckerberg said.

Europe stocks rally on Fed pivot, before ECB rate call

European equities leapt Thursday with Frankfurt and Paris striking all-time peaks, after the Federal Reserve pivoted toward interest rate cuts next year and sent Wall Street soaring to record highs.

EU court rejects Brussels appeal over Amazon tax ruling

A top EU court rejected Thursday Brussels' appeal against a ruling blocking its bid to force Luxembourg to recover 25 million euros ($272-million) in back taxes from Amazon.

Rate pauses in view on busy central banking day in Europe

The European Central Bank and the Bank of England were on Thursday expected to pause rates again as inflation retreats, while markets cheered the US Federal Reserve's clear signal that it would start slashing borrowing costs in 2024.

OPEC+ cartel's grip on oil market loosening: IEA

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday.

Stocks track record day on Wall St, dollar extends losses

Equity markets rallied Thursday and the dollar extended losses after the US Federal Reserve indicated it would begin cutting interest rates next year.

Zack Snyder creates his own 'Star Wars' with 'Rebel Moon'

If Zack Snyder's new Netflix sci-fi movie epic "Rebel Moon" looks and feels a lot like a "Star Wars" film, that's because it was originally pitched as one.

Asian stocks track record day on Wall St, dollar extends losses

Asian markets rallied Thursday and the dollar extended losses after the Federal Reserve indicated it will begin cutting interest rates next year.

Chinese mourners use AI to digitally resurrect the dead

At a quiet cemetery in eastern China, bereaved father Seakoo Wu pulls out his phone, places it on a gravestone and plays a recording of his son.

Far from Venezuela-Guyana oil flap, Mango Landing just wants peace

Robinson Flores, a Venezuelan who has been living in Essequibo for years, has no time for politicians fighting over the disputed oil-rich region run by Guyana.

Brazil cuts interest rate another half-point

Brazil's central bank cut its key interest rate by half a point for the fourth straight time Wednesday, continuing the easing President Luiz Inacio Lula da Silva hopes will spur Latin America's biggest economy.

US Fed holds key rate steady and signals three cuts likely in 2024

The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting but signaled they expect to make three rate cuts next year.

US Fed holds key rate steady, signals three cuts likely in 2024

Policymakers at the US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting and signaled they expect to make three rate cuts next year.

Tesla files recall on 2 mn vehicles to fix autopilot software

Electric car maker Tesla has initiated a recall of over two million vehicles in the United States due to risks associated with the autopilot software, the US traffic safety regulator said Wednesday.

US Fed holds rate steady and signals three cuts ahead

The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for the third straight meeting and signaled it expects to make three cuts next year.

BP sacks former CEO for 'serious misconduct'

BP on Wednesday denied its former chief executive of more than £32-million ($40-million) payout because of his failure to disclose past personal relationships with colleagues.

Pfizer shares tumble on disappointing 2024 profit outlook

Pfizer issued a disappointing 2024 forecast Wednesday, denting shares as the company navigates a profound plunge in sales tied to the Covid-19 pandemic.

Tesla files recall on 2 million vehicles to fix autopilot software

Electric car maker Tesla has initiated a recall of over two million vehicles in the United States due to a risk linked to its autopilot software, the US traffic safety regulator said Wednesday.

In rare display, US-China friendship carries climate summit

The scene would be unthinkable elsewhere these days -- US and Chinese envoys, smiling and embracing, hailing their friendship as leading the world together in the right direction.

French winemakers adopt US-style marketing to halt falling sales

France's wine makers, faced with a steep decline in sales, are turning to US-style marketing to revive their fortunes, including deep dives into global pop culture.

Equities mixed before Fed rate decision

Stocks rose Wednesday in Europe but stumbled in Asia before this year's final monetary policy decision from the Federal Reserve, one day after an unremarkable US inflation report tempered expectations for an interest-rate reduction early next year.

UAE's Jaber, oil boss who brokered 'beginning of end' for fossil fuels

Sultan Al Jaber, the UAE oil chief who headed COP28 in Dubai, promised that this year's UN climate talks would be "different". He did not disappoint.

Netflix releases vast viewing data for first time

Netflix for the first time published detailed viewing figures about thousands of its shows and movies Tuesday, offering an unprecedented glimpse into the world-leading streaming platform's top hits and highest-profile flops.

Cambodia's women tuk-tuk drivers fighting prejudice

Every day Roeung Sorphy deftly weaves through the streets of Siem Reap, zigzagging past cars, motorbikes and the occasional stray dog as she shepherds tourists to the famed Angkor Wat temple complex.

China shows off homegrown C919 jet in Hong Kong

China's new domestically produced passenger jet made its debut outside the mainland on Wednesday, with international media in Hong Kong getting their first up-close look.

US Fed pause expected amid flurry of rate decisions

The US Federal Reserve will likely hold its key lending rate at a 22-year high on Wednesday -- the first of a series of crucial central bank decisions this week.

Argentina devalues peso, unveils measures to avoid 'hyperinflation'

Argentina devalued its currency by more than 50 percent Tuesday in a set of "shock" measures aimed at reviving a crumbling economy and tackling triple-digit inflation.

US stocks shrug off mixed inflation data, extending rally

US stocks finished solidly higher Tuesday, shaking off early weakness on continued bullish sentiment as a mixed inflation report contributed to a drop in oil prices.

Pfizer expects to complete purchase of Seagen on Thursday

Pfizer announced Tuesday that it expects to complete this week its $43 billion acquisition of cancer-focused biotech company Seagen after clearing key regulatory hurdles.

IMF resumes Sri Lanka bailout after China's debt deal

The International Monetary Fund announced on Tuesday it is reviving its $2.9 billion bailout for Sri Lanka after the South Asian nation clinched a debt restructure deal with its largest single lender China.

ASML, Samsung ink 700mn chip plant deal as S.Korea president visits

Dutch tech giant ASML and Samsung Tuesday signed a deal worth around 700 million euros to build a semiconductor research plant in South Korea, as President Yoon Suk Yeol wrapped up day one of a technology-focused visit.

The Fort Worth Press - Economy (English)