The Fort Worth Press

Where's Boris? UK's PM on leave as economic crisis deepens

A senior British minister admitted Friday "I don't know where Boris is" as the premier checked out on holiday, in a week that saw the Bank of England warn a year-long recession is coming.

Asian markets up after oil drop, eyes on Taiwan and US jobs

Asian equities mostly rose Friday as a drop in oil prices to pre-Ukraine war levels stirred hopes of a slowdown in inflation and central bank interest rate hikes, while focus turns to key US jobs data later in the day.

India hikes interest rates to pre-pandemic level

India's central bank on Friday hiked interest rates for the third time in four months, as Asia's third-largest economy contends with a widening trade deficit and weakening currency.

China Evergrande to get $818 mn for scrapping stadium deal

Embattled Chinese property giant Evergrande has cancelled a contract to build a football stadium in a southern city in return for 5.52 billion yuan ($818 million), it said in a filing.

Families of trapped Mexican miners pray for miracle

Dozens of rescuers battled Thursday to free 10 workers trapped in a flooded coal mine in northern Mexico, where desperate relatives waited for news more than 24 hours after a cave-in.

Twitter says Musk making up excuses to breach deal

Twitter on Thursday said the notion Elon Musk was "hoodwinked" into inking a $44 billion buyout deal defies reason and the facts.

Facebook's Meta takes on bond debt, in a first

Facebook-owner Meta is ending a run as one of the few major firms without debt, launching its first bond sale as the company battles uncertainty and bets heavily on its metaverse vision.

Stocks mixed as markets digest BoE rate hike, recession forecast

European stocks pushed slightly higher on Thursday as the Bank of England delivered its biggest interest rate hike in 27 years, while Wall Street equities were mixed ahead of key US jobs data.

Apple accused of mishandling sex misconduct complaints: report

Over a dozen women accused Apple of mishandling sexual misconduct claims they lodged while working for the iPhone maker, according to a Financial Times report out Thursday.

Turkey says three grain shipments to leave Ukraine Friday

Three more ships filled with grain will sail from Ukraine on Friday under a UN-backed deal lifting Russia's blockade of the Black Sea, Turkey's defence minister said.

Russian disinformation operation paid for pro-Ukraine war posts: Meta

A Russian outfit hired people off the street and paid them to post online comments intended to give the impression of grassroots support for Moscow's invasion of Ukraine, Facebook owner Meta said Thursday.

Mexico races to rescue 10 trapped coal miners

Rescuers raced Thursday to free 10 workers trapped in a coal mine after a cave-in in northern Mexico, where desperate relatives spent a sleepless night waiting for news.

European stocks rise as BoE unleashes big rate hike

European stocks rose Thursday as the Bank of England delivered its biggest interest rate hike in 27 years and traders tracked Chinese military drills around Taiwan.

US exports hit new record in June, lowering trade deficit

American exports set another record in June, narrowing the US trade gap for the third consecutive month, according to official data Thursday.

BoE forecasts recession as inflation soars, unveils big rate hike

Britain will sink into a lengthy recession later this year as inflation rockets even higher, the Bank of England forecast Thursday as it unveiled the biggest interest rate hike since 1995.

Alibaba quarterly revenue flat for first time ever in June

Chinese e-commerce giant Alibaba reported flat revenue growth on Thursday for the first time ever, as the country grappled with an economic slowdown and Covid-19 resurgences kept consumers jittery.

Bank of England delivers biggest rate hike in 27 years

The Bank of England unleashed Thursday its biggest interest rate hike since 1995 as it forecast inflation topping 13 percent this year and warned of a looming year-long recession.

Hong Kong billionaire Li Ka-shing's firm to sell stake in fintech upstart

Hong Kong billionaire Li Ka-shing's firm is selling its stake in the parent company of fintech upstart AMTD Digital, according to a statement released Thursday, after the company enjoyed a massive rally this week.

European stocks mainly rise, London down as rate hike looms

European stocks mostly rose Thursday but London fell before an expected interest rate hike from the Bank of England, while traders tracked Chinese military drills around Taiwan.

Iran nuclear talks set to restart in Vienna

Negotiators were due to kick off a fresh round of talks over Iran's nuclear programme in Vienna on Thursday, seeking to salvage the agreement on Tehran's atomic ambitions.

Campaigners bring 'obstetric violence' out of shadows

When a United Nations committee ruled Nahia Alkorta had suffered obstetric violence during the birth of her first child, it was the culmination of a 10-year quest for justice.

Toyota upgrades forecast even as Q1 net profit slumps

Toyota upgraded its annual net profit forecast on Thursday, predicting an earnings boost from the weaker yen even after first-quarter net profit took a hit from pandemic-related supply chain issues.

Chrissy Teigen, John Legend announce pregnancy two years after miscarriage

Model Chrissy Teigen and her award-winning singer husband John Legend said Wednesday that the couple is expecting another child, nearly two years after announcing her miscarriage.

China's Taiwan war games threaten more global supply chain disruption

Chinese military exercises around Taiwan are set to disrupt one of the world's busiest shipping zones, analysts told AFP, highlighting the island's critical position in already stretched global supply chains.

Mexico races to rescue trapped coal miners

Rescuers battled Wednesday to free about 10 workers believed to be trapped in a coal mine in northern Mexico, while three others were found alive, authorities said.

Asian markets rally on healthy US data, post-Pelosi relief

Asian markets on Thursday tracked a Wall Street rally fuelled by healthy economic and earnings data, while there was some relief that Nancy Pelosi's Taiwan trip did not elicit a harsher response from China despite grave warnings from Beijing.

Inflation-fighting BoE poised to unleash big rate hike

The Bank of England is expected Thursday to follow other major central banks with an aggressive interest rate hike to tackle surging inflation.

Argentina economy minister vows to respect IMF deficit deal

Argentina's new economic "super minister" pledged on Wednesday to respect the crisis-wracked country's commitment with the IMF to reduce its public deficit to 2.5 percent this year.

Brazil hikes interest rate, signals may tighten further

Brazil's central bank raised its benchmark interest rate for the 12th straight time Wednesday, citing an "adverse and volatile" global economy, and indicated its tightening cycle, one of the world's most aggressive, may not be over.

A real treat: Canadian candy company seeks professional taster

The chance to earn an annual salary of Can$100,000 (US$78,000) by tasting more than 3,500 candies, all from the comfort of your couch, sounds like a pretty sweet deal.

Airbus scraps A350 contract with Qatar Airways in feud

European aircraft maker Airbus has cancelled its contract to deliver 19 A350 planes to Qatar Airways, a source close to the matter said Wednesday, amid a feud between the two aviation giants.

Gazprom says gas turbine delivery to Russia 'impossible' due to sanctions

Russian energy giant Gazprom said Wednesday that delivery of a turbine needed to keep gas flowing to Europe via the Nord Stream 1 pipeline was "impossible" due to sanctions on Moscow.

UN chief slams 'excessive' profits of oil, gas firms amid Ukraine war

UN Secretary-General Antonio Guterres on Wednesday accused oil and gas companies of making "excessive" profits from the energy crisis sparked by the war in Ukraine, calling it "immoral."

Monkeypox vaccine availability and effectiveness

A smallpox vaccine shown to protect against monkeypox has come under huge global demand, leading health authorities to warn against repeating the unequal distribution seen during the Covid pandemic.

Stock markets rise after Pelosi's Taiwan trip

Global stocks mostly rose on Wednesday as investor concerns over US-China tensions eased following House Speaker Nancy Pelosi's trip to Taiwan.

OPEC+ agrees small oil output rise despite Biden plea

The OPEC+ oil cartel agreed to a small increase in production Wednesday, likely disappointing US President Joe Biden who lobbied for a big hike to tame soaring energy prices on a recent trip to Saudi Arabia.

Turkish inflation stabilises at under 80% in boost to Erdogan

Turkey's annual inflation rate stabilised in July at just under 80 percent, official data showed on Wednesday, helping support President Recep Tayyip Erdogan's pledges that runaway price increases would soon stop.

Scholz opens door to extend nuclear as Russia squeezes gas supply

German Chancellor Olaf Scholz on Wednesday raised the possibility of keeping nuclear plants going as he accused Russia of blocking the delivery of a key turbine to throttle gas supplies to Europe.

Satellite firm bars Russia's NTV Mir over Ukraine Nazi slurs

French satellite company Eutelsat on Wednesday halted European broadcasts of Russian channel NTV Mir after regulators flagged content it had aired comparing Ukrainians to Nazis.

The Fort Worth Press - Economy (English)

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