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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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Markets drop as Fed hike looms, Putin move lifts dollar and oil

Stocks fell Wednesday ahead of what many expect to be a third successive jumbo interest rate hike by the Federal Reserve, while the dollar hit fresh multi-decade highs against the pound and euro after Moscow stepped up its war in Ukraine.

Germany reaches deal to nationalise troubled gas giant Uniper

Germany has reached a deal to nationalise troubled gas giant Uniper, the government said Wednesday, as the energy sector reels from the fallout of Russia's war in Ukraine.

US Fed set to raise interest rates as recession fears mount

The Federal Reserve is poised to roll out another big increase in interest rates Wednesday as it tries to cool the economy to tamp down the highest inflation in 40 years, but recession fears are rising.

American, Russians to blast off for ISS as war rages in Ukraine

A US astronaut and two Russian cosmonauts are set to blast off to the International Space Station Wednesday on a Russian-operated flight despite soaring tensions between Moscow and Washington over Russia's invasion of Ukraine.

Salvini: Italian nationalist leader eclipsed by rival

Matteo Salvini turned his once regional League party into a national force in government, but the far-right leader has seen his star eclipsed by the more polished Giorgia Meloni.

Asian traders resume selling as another jumbo Fed hike looms

Asian markets resumed their downward spiral Wednesday after a brief respite the previous day, as traders prepared for what many expect to be a third successive jumbo interest rate hike by the Federal Reserve.

Ad discrimination suit against McDonald's allowed to proceed

A federal judge has allowed a discrimination lawsuit to proceed that argues that McDonald's refuses to advertise on Black-owned media networks.

World leaders call for urgent action on food security

World leaders called Tuesday for urgent efforts to address global food insecurity, with fears mounting of a disastrous harvest next year due largely to the war in Ukraine.

ECB determined to stop inflation becoming 'embedded'

The European Central Bank is determined to stop soaring inflation becoming the norm, its president said Tuesday, as the coronavirus pandemic and the Russian invasion of Ukraine put lasting pressure on prices.

UN tackles food prices as Ukraine crisis spells disaster

World powers met Tuesday at the United Nations on how to address rising food insecurity, with dire warnings of a devastating harvest next year due to the war in Ukraine.

Hertz to buy some 175,000 GM EVs through 2027

US rental car giant Hertz will buy up to 175,000 electric vehicles from General Motors by the end of 2027, the companies announced Tuesday, as the auto industry grapples with concerns over climate change and petroleum dependency.

US Fed opens policy meeting with steep rate hike on the table

US central bankers opened their two-day policy meeting on Tuesday with another steep interest rate hike seen as a near certainty amid stubbornly high inflation.

Dutch unveil 17-bn-euro package for hard-hit households

The Dutch government announced an "unprecedented" 17.2 billion euro package on Tuesday to help citizens facing soaring energy prices and double-figure inflation driven by the ongoing war in Ukraine.

Alarm grows over deadly Iran crackdown on protests

International alarm mounted on Tuesday over a deadly crackdown in Iran against protests sparked by death of young Iranian woman Mahsa Amini after her arrest by Tehran's notorious morality police.

China should do more to help avoid debt crisis: US official

The "enormous scale" of Chinese lending to developing nations makes it critical Beijing do more to participate in restructurings to avoid a new international debt crisis, a senior US Treasury official said Tuesday.

Twitter to depose Elon Musk ahead of buyout deal trial

Twitter's lawyers will question Elon Musk next week as they gather evidence in a legal battle to hold him to his $44 billion buyout deal, a Tuesday court filing said.

Germany in 'final discussions' over Uniper nationalisation

German gas company Uniper said Tuesday it was on the brink of being nationalised as Berlin stepped in to prop up the energy sector amid a crisis triggered by the Russian invasion of Ukraine.

Stock markets drop on jumbo Swedish rate hike

Stocks retreated Tuesday as Sweden's jumbo interest rate hike, aimed at tackling inflation, stoked expectations of more increases this week from the US Federal Reserve and the Bank of England.

EU hopes for trade pact with Indonesia within two years

The European Union hopes to strike a free-trade agreement with Indonesia within two years despite disputes with Southeast Asia's largest economy over palm oil and nickel, the bloc's trade commissioner said Tuesday.

Spain's domestic staff fight to end discrimination

For years, Aracely Sanchez went to work without counting her hours, always fearful she could lose her job from one day to the next.

Asian markets see rare rally but caution rules as Fed hike nears

Asian markets enjoyed a much-needed bounce Tuesday, tracking Wall Street's late rally as investors gird themselves for another big Federal Reserve interest rate hike this week, though fears of a recession remain elevated.

Covid curbs leave Hong Kong musicians on their 'last dollar'

A thundering thrash metal riff reverberated through a Hong Kong bar, but the music was being live-streamed from a studio across town to obey pandemic rules that have outlawed small gigs for more than 650 days.

Drought decimates Texas' key cotton crop

On Sutton Page's ravaged cotton fields, there is almost nothing left to pick. The Texas farmer managed to salvage maybe a fifth of his crop, but the rest was lost to the severe drought that has taken a steep toll across the region.

Wall Street ends up thanks to technical rebound and bargain hunt

US stocks closed higher Monday thanks to a technical rebound and bargain-hunting after last week's nightmarish run.

'Grand Theft Auto' maker says game code stolen

Rockstar Games said Monday that data from the next installment in its blockbuster "Grand Theft Auto" franchise was stolen, as glimpses of play spread on social media.

Swiss farmers cook up world's biggest rosti

The world's largest rosti -- the traditional Swiss potato fritter -- was fried up in Bern Monday, shattering the previous record, the Swiss farmer's union (USP) said.

Rate hikes: a double-edged sword for central banks

Central banks worldwide are using aggressive interest rate hikes to lasso galloping inflation, at the risk of pulling down the global economy with it.

Lebanon currency hits new low, sparking protests

The Lebanese pound fell to a new low against the US dollar on the black market Monday as a severe economic downturn has sparked bank hold-ups by angry depositors and anti-government protests.

Switzerland signs contract for 36 US fighter jets

Switzerland signed a controversial contract on Monday to buy 36 US F-35 stealth fighter jets at a cost of more than six billion francs ($6.2 billion).

Scholz to visit Saudi as Germany seeks energy supplies

Chancellor Olaf Scholz will visit Saudi Arabia and meet Saudi Crown Prince Mohammed bin Salman as part of a Gulf trip, his spokesman said Monday, as Germany rushes to secure energy supplies.

With Elizabeth II, 20th century is also laid to rest

The laying to rest of Queen Elizabeth II, whose 70-year reign witnessed the aftermath of World War II, the Cold War and dizzying technological change, marks a further step in a leave-taking with the 20th century.

Markets struggle ahead of another Fed rate hike

Stock markets dropped again Monday, extending last week's rout as investors brace for another big rate hike by the US Federal Reserve that they fear could drag down the global economy.

German central bank sees signs of recession 'multiplying'

The German central bank said Monday it was increasingly likely that Europe's largest economy would shrink for a "prolonged" period as Russia throttled energy supplies to the continent.

Republican movements catch wind in Caribbean after queen's death

Black cloth covers the portrait of Queen Elizabeth II hanging in Antigua's parliament -- a sign of the island's mourning and an unintentional symbol of a possible Caribbean future without the British monarchy.

Asian markets extend losses as traders brace for Fed hike

Asian markets fell Monday as traders extended last week's rout across risk assets, with expectations high that the Federal Reserve will this week announce another outsized interest rate hike.

Fossil fuel reserves contain 3.5 tn tonnes of CO2: database

Burning the world's remaining fossil fuel reserves would unleash 3.5 trillion tonnes of greenhouse gas emissions -- seven times the remaining carbon budget to cap global heating at 1.5C -- according to the first public inventory of hydrocarbons released Monday.

Who's invited to Queen Elizabeth II's funeral -- and who's not

Hundreds of foreign royals and heads of state are expected to attend the funeral of Queen Elizabeth II in London on Monday -- one of the biggest diplomatic gatherings in decades.

Thousands in shelters as 'dangerous' typhoon hits Japan

Thousands of people took refuge in shelters in southwestern Japan on Sunday as powerful Typhoon Nanmadol churned towards the region, prompting authorities to urge over four million residents to evacuate.

Oscars Academy makes amends over 1973 Native American protest

Almost five decades after she refused an Oscar on behalf of Marlon Brando over the treatment of Native Americans by the US film industry, Sacheen Littlefeather was honored Saturday by the Academy of Motion Picture Arts and Sciences.

The Fort Worth Press - Economy (English)