The Fort Worth Press

Europe stocks rise despite economic and Mid East gloom

European stocks rose Tuesday after a mixed Asian session despite spreading economic and geopolitical uncertainty on the eve of a US interest-rate decision.

Pfizer reports loss as Covid-19 revenues shrink

Pfizer reported Tuesday a loss following a sharp fall in the sales of its Covid-19 vaccine and therapeutic from pandemic peaks.

Stellantis beats forecasts despite US strike

Stellantis beat analyst forecasts with a jump in third quarter sales despite the automaker acknowledging Tuesday the strike by its US workers cost $3.2 billion in lost revenue.

AB InBev profit higher despite Bud Light sales plunge

AB InBev, the world's top brewer, said Tuesday sales and net profits edged higher in the third quarter despite a drop in sales volume, in particular in the United States where Bud Light has been boycotted by conservative figures.

Eurozone economy shrinks in third quarter, inflation falls further

Economic growth in the eurozone contracted in the third quarter, data showed Tuesday, hit by the European Central Bank's painful rate-hiking campaign and Germany's weakening economy, but inflation slowed in October.

Samsung Electronics says Q3 operating profits down but flags 2024 chip recovery

South Korea's Samsung Electronics said Tuesday that its operating profits for the July to September period were down nearly 80 percent, but forecast that a prolonged slump in the memory chip market was coming to an end.

Vodafone sells Spain unit for up to 5.0 bn euros

British mobile phone giant Vodafone announced Tuesday the sale of its Spanish division to investment fund Zegona for up to 5.0 billion euros ($5.3 billion), as part of an ongoing overhaul.

Stellantis confirms 2023 outlook despite US strike

Automaker Stellantis confirmed Tuesday its 2023 outlook thanks to a jump in third quarter revenue despite a costly strike in the United States.

Brazil's booming ag sector draws cash and controversy

With its massive output of soybeans, beef, cotton and now corn, Brazil has become one of the world's top agricultural powers. But its agribusiness industry also faces criticism, especially over destruction of the Amazon rainforest.

Israel aims shock-value online campaign at Europe

Israel is running a hard-hitting online campaign targeting mostly Europeans with shocking images and testimonies from the attacks carried out by Islamist militant group Hamas on October 7.

China's electric bus revolution glides on

On a rainy afternoon in Shenzhen, damp passengers jostle their way onto the megacity's buses, the quiet foot soldiers of an electric revolution for coal-guzzling China's public transport network.

Charging ahead: Dutch eye boost to 'fast charger' EV network

At a service station near Amsterdam's Schiphol Airport, a steady stream of motorists charge up their electric vehicles at "ultra-fast" power points. The whole process takes less than 20 minutes.

Stocks mixed, oil subdued as traders eye Mideast and central banks

Asian stocks were mixed Tuesday, with traders tracking developments in the Middle East crisis as Israel presses on with its ground incursion of Gaza, while hopes the conflict will not spill over regionally kept oil prices subdued.

Samsung Electronics says Q3 operating profits down 77.57%

South Korea's Samsung Electronics said Tuesday that its operating profits for the July to September period were down 77.57 percent from the year before, even as new smartphone releases boosted revenue.

Panama tribunal rejects holding mine deal referendum

Panama's electoral tribunal on Monday dismissed the idea of organizing a referendum in December on a mining contract that has ignited countrywide protests.

US auto strike nears end as union, GM reach tentative deal

A wave of strikes that disrupted the three largest US automakers for six weeks looked to have been finally resolved Monday, as the auto workers union reached a tentative agreement with holdout General Motors.

US auto workers union reaches tentative deal with GM

The US auto workers union reached a tentative agreement with General Motors on a new labor contract Monday, a source close to negotiations told AFP, paving the way to ending a six-week strike at major car manufacturers.

HSBC profits surge on higher interest rates

Banking giant HSBC on Monday posted surging profits for the third quarter as lenders pass on interest-rate hikes carried out by central banks.

German economy shrinks slightly in third quarter

German output shrank in the third quarter, official data published Monday showed, adding to a continued gloomy picture for Europe's largest economy despite falling inflation.

German-Israeli woman captured by Hamas confirmed dead

Shani Louk, a 23-year-old German-Israeli woman captured by Hamas fighters when they stormed a music festival in the Israeli desert, is dead, Israel's foreign ministry said Monday.

Huge overspend claims at DR Congo's Francophone Games under audit

Financial auditors have arrived in DR Congo to investigate this summer's Francophone Games in Kinshasa, said the event organisers on Monday after being being blamed for vast overspending.

Taiwan's Foxconn calls for 'confidence' in wake of Chinese tax probe

Taiwan-based tech giant Foxconn said Monday its current operations were "normal", calling for confidence in the company after a tax probe launched by Chinese authorities.

Five workers killed in German building site accident: fire brigade

At least five workers were killed in the northern German city of Hamburg on Monday when a scaffolding collapsed at a building site, a fire brigade spokesman said.

Crude slips as worries of region-wide Middle East war ease

Oil prices fell Monday as Israel stepped up ground attacks on Hamas targets in Gaza but held back from a full-on incursion, fanning hopes a wider conflict can be avoided.

California startup to 'sponge' CO2 from the atmosphere

Scrubbing carbon dioxide from the air is imperative if humanity is to limit global warming, experts say, and a California startup says it can do just that, using limestone as a carbon-sucking sponge.

HSBC says pre-tax profit more than doubled in third quarter

Banking giant HSBC said on Monday that pre-tax profit in the third quarter more than doubled to $7.7 billion, reflecting the "positive impact of a higher interest rate environment".

Free trade deal between EU and Australia collapses

A free trade deal between the European Union and Australia has unravelled despite early optimism, with Canberra saying Monday it could take years until negotiations resume.

Drought and shrinking herds push US beef prices through the roof

A prolonged drought is shrinking livestock herds and driving beef prices to record highs in the US, even as consumption is growing stronger.

US Fed likely to pause again with rates at 22-year high

The Federal Reserve will likely announce it is holding interest rates at a 22-year high on Wednesday, as it looks to tackle inflation without damaging the resilient US economy.

Kazakhstan mourns for 42 dead in ArcelorMittal mine disaster

Kazakhstan held nationwide mourning on Sunday after 42 people died in a blaze at an ArcelorMittal mine, the worst accident in the Central Asian country's post-Soviet history.

Kazakhstan in mourning after 36 killed at mine

Kazakhstan was in nationwide mourning Sunday after 36 people died in a fire at an ArcelorMittal mine, the worst such disaster in years which has prompted the nationalisation of the company's local affiliate.

What is a COP?

The crunch climate talks being held in Dubai from November 30 to December 12 will be the 28th such gathering of world leaders under UN auspices known as COPs.

Stellantis, striking US auto union reach tentative deal

Stellantis and the striking United Auto Workers union have reached a preliminary deal similar to the one struck earlier this week with Ford, the union said Saturday -- allowing members to go back to work at grounded factories.

Fears grow of tighter state grip on Serbian media

Two controversial bills backed by Serbian lawmakers this week have sparked fears of more state control over the media and another setback for press freedom in the Balkan nation.

Tight job market rebalances power between US business and labor

The US economy is contending with a wave of union activism unseen in decades as organized labor seizes a rare opportunity to play hardball in a tight employment market.

Panama bans new mining deals, but fails to quell protests

Panama's President Laurentino Cortizo on Friday announced a ban on new metal mining concessions, but maintained a contract with a Canadian company that has sparked massive protests in the country.

Fashion mogul categorically denies serial rapes accusations

Finnish-Canadian fashion mogul Peter Nygard, on trial in Toronto for alleged serial rapes, categorically denied any sexual misconduct as he wrapped up several days of defense testimony on Friday.

Earnings help stocks resist despite sticky inflation

Stocks traded mixed on Friday as blockbuster earnings from Amazon and Intel fuelled hope of a tech bounce despite a report showing persistent US inflation.

Bumper profits ebb at US oil giants as they tout big fossil deals

ExxonMobil and Chevron reported lower profits Friday compared with the year-ago blowout quarter as the oil giants touted recent acquisitions they said balance economic and environmental priorities.

The Fort Worth Press - Economy (English)

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