The Fort Worth Press

Central banks in no rush to cut interest rates

Investors were hoping to hear central banks finally signal this week that they were close to being done raising interest rates in their battle against inflation.

Rupert Murdoch's handover to son Lachlan sparks concern in London

Rupert Murdoch's announcement that he will hand over control of his global media empire to son Lachlan has put the group's British media, including the tabloid The Sun, on tenterhooks about its future place in the conglomerate.

Adidas boss apologises for controversial Ye comments

The head of Adidas has apologised after speculating that Kanye West did not "mean what he said" with anti-Semitic remarks that put an end to his collaboration with the German sportswear brand.

US auto workers union expands strike at General Motors, Stellantis

The US auto workers union expanded a potentially economically and politically damaging strike against two of Detroit's "Big Three" Friday -- and invited President Joe Biden to support workers on the picket line.

US Fed official calls for more rate hikes to tackle inflation

The US Federal Reserve has more work to do to tackle high inflation despite making "considerable" progress in the last 18 months, a senior bank official said Friday.

UK opposition leader denies he will try to undo Brexit

The leader of the UK's opposition Labour Party on Friday denied he wanted to rejoin the European Union after recent comments led the ruling Conservatives to accuse him of wanting to "unpick Brexit".

Microsoft nears takeover of 'Call of Duty' maker Activision

British regulators on Friday dropped their objections to Microsoft's attempt to buy video game firm Activision Blizzard, the maker of "Call of Duty", paving the way for the US tech titan to close one of the biggest technology acquisitions ever.

US, China announce new economic working groups

The United States and China on Friday announced two new working groups on economic and financial policy, in the latest effort to stabilize fraught relations between the world's biggest economies.

EU reduces record Intel antitrust fine to 376 mn euros

The European Commission slapped a new fine of 376 million euros ($400 million) on US chipmaker Intel on Friday after an EU court annulled a previous record penalty for abusing its dominance in the computer chip market.

As electric shift stalls, Volkswagen weighs up savings

Volkswagen's factory in the heart of the east German city of Dresden was conceived as a showcase for the auto giant's electric future but on a September afternoon the production line stands still.

Eurozone economic contraction less severe in September

Eurozone economic activity shrank further in September but the rate of decline has slowed, a key survey showed on Friday.

Markets mostly rise as traders try to look past expected rate hikes

Most stock markets rose Friday, reversing early losses and a sell-off on Wall Street, as traders contemplate further interest rate hikes by central banks struggling to tame inflation.

Japan sticks to ultra-loose monetary policy

The Bank of Japan stuck to its ultra-loose monetary policy Friday, though officials face increasing pressure to turn more hawkish as the yen weakens and after fresh data showed inflation remained stubbornly high.

EU seeks to put brakes on China without hurting ties

When the EU launched an investigation into Chinese electric car subsidies, Brussels wanted the world to know that it will protect the automotive sector that is the jewel in Europe's industrial crown, even if it upsets Beijing.

Blockbuster movie scares Chinese tourists away from Thailand

For millions of Chinese tourists, Thailand used to be a happy land of water fights, lantern festivals and delicious food.

US farmers, tech tycoons square off over plans for utopian city

A stealth campaign by Silicon Valley elites with a dream of turning a swath of California farmland into a new age city has ranchers who live here challenging their tactics and their motives.

Chevron workers to end Australia gas plant strike

Workers will end strike action at Chevron's gas plants in Western Australia, their union said Friday, accepting a deal proposed by Australia's industrial relations body.

US Army, Marine heads approved amid abortion standoff

The US Senate confirmed two generals as the new heads of the Army and Marine Corps on Thursday, filling senior military posts left open due to a lawmaker's opposition to Pentagon abortion access policies.

Inflation-battered Turkey hikes key rate to 20-year high

Turkey's central bank on Thursday raised its key lending rate to a 20-year high following a sudden turn towards conventional economics by President Recep Tayyip Erdogan.

UK's Sunak defends climate policy shift

Britain's Prime Minister Rishi Sunak on Thursday insisted he was "not slowing down efforts" to tackle climate change, a day after softening green policies aimed at achieving net zero carbon emissions by 2050.

US home sales continue downward trend as prices climb

Sales of US homes crept down further in August, industry data showed Thursday, as supply remained limited while mortgage rates stayed high.

Bank of England follows Fed in pausing rate hikes

The Bank of England left its key interest rate unchanged Thursday, snapping 14 straight hikes following a shock slowdown to UK inflation and one day after the US Federal Reserve also hit pause.

Bank of England freezes interest rates after 14 straight hikes

The Bank of England on Thursday held interest rates steady, snapping 14 straight hikes following a shock slowdown to UK inflation and one day after the US Federal Reserve also hit pause.

Stocks slide after raft of central bank rate moves

Global stocks sank Thursday after the US Federal Reserve hinted it could hike interest rates again this year to tame inflation and other central banks warned they were not done either.

Turkey hikes interest rate to 20-year high

Turkey's central bank on Thursday raised its key lending rate to a 20-year high following a sudden turn towards conventional economics by President Recep Tayyip Erdogan.

Japan broadcaster to acquire Hayao Miyazaki's Studio Ghibli

Hayao Miyazaki's celebrated Japanese animation house Studio Ghibli said Thursday it will be acquired by private broadcaster Nippon TV, citing his old age.

'Game of Thrones' author, other writers sue ChatGPT creator over copyrights

"Game of Thrones" author George RR Martin and other best-selling fiction writers have filed a class-action lawsuit against OpenAI, accusing the tech startup of violating their copyrights to fuel its generative AI chatbot ChatGPT.

Turkey expected to hike interest rate to 20-year high

Turkey's central bank was expected Thursday to dramatically raise its key interest rate for the second month running following a sudden turn towards conventional economics by President Recep Tayyip Erdogan.

Bank of England faces rate-hike dilemma

The Bank of England is expected to raise its key interest rate for a 15th straight time Thursday but the possibility of a pause has surfaced after a surprise dip in UK inflation.

King Charles to address French Senate after urging stronger France-UK ties

King Charles III on Thursday follows in his mother Queen Elizabeth II's footsteps by addressing lawmakers in the French upper chamber of parliament on the second day of a visit that has seen him urge stronger ties between the countries.

Dollar rallies, US stocks fall as Fed signals it could hike again in 2023

Wall Street stocks dropped and the dollar rallied Wednesday after the Federal Reserve kept interest rates unchanged, but signaled it could lift them again this year.

Ford reaches Canadian labor deal as US auto strike enters 6th day

The Canadian auto workers union has reached a tentative agreement with Ford, averting a strike as the labor group's US counterpart eyes expanding its ongoing stoppage to more plants.

Stocks advance as Fed looms, UK inflation dips

Wall Street and European stock markets rose Wednesday as traders gear up for an expected pause in the US Federal Reserve's interest rate hike campaign.

French Apple workers call strike on iPhone 15 debut

Workers at Apple stores in France are set to strike and disrupt the launch of the iPhone 15 in a battle over pay, trade unions told AFP on Wednesday.

Charles III welcomed in France for first visit as king

King Charles III on Wednesday began his first state visit to France as monarch, a rescheduled trip aimed at showing the fundamentals of the cross-Channel alliance remain strong despite a litany of political tensions after Brexit.

European stocks advance as Fed looms, UK inflation dips

European stocks rose Wednesday on a surprise slowdown in UK inflation and lower oil prices, as traders awaited a key US Federal Reserve interest rate call and shrugged off equity losses in Asia.

UK inflation in surprise drop to 18-month low

British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week's widely-forecast interest rate hike by the Bank of England could be its last for now.

Gold and mercury, not books, for Venezuela's child miners

At 10 years old, Martin cannot read, but he is an old hand at detecting traces of the gold he and his young cousins dig for at an open-pit mine in southeastern Venezuela.

High-rises sweep Sao Paulo, but boom casts shadows

Worried by the surge of skyscrapers fast replacing the houses and historic buildings in her Sao Paulo neighborhood, Rosanne Brancatelli put up a sign on her street: "Don't take away our sun."

The Fort Worth Press - Economy (English)

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