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Farmers target PM Starmer in protest against new UK tax rules

Hundreds of farmers, many in tractors, gathered in Wales on Saturday to protest against UK Prime Minister Keir Starmer and his government's decision to change inheritance tax rules for farms.

Gabon votes on new constitution hailed by junta as 'turning point'

Gabon holds a referendum Saturday on a new constitution that the junta calls a "major turning point" after a coup that brought the curtain down on 55 years of rule by the Bongo dynasty.

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Zelensky urges evacuation of Ukraine's frontline Donetsk

Ukraine's president urged civilians on Saturday to evacuate the frontline Donetsk region, the scene of fierce clashes with the Russian military, as Kyiv called on the Red Cross and UN to gain access to its soldiers being held by Moscow's forces.

Formula One launches 'Drive It Out' campaign against abusive behaviour

Formula One on Saturday launched the 'Drive It Out' campaign against abusive behaviour online on social media and at Grands Prix.

With new 'super minister,' Argentina seeks political fix to economic woes

Argentine President Alberto Fernandez is looking for a political solution to the country's economic crisis with his appointment of a long-term politician as a new "super minister," analysts say.

Broken homes: Ukrainians in east begin daunting rebuild

Galyna Kios had been surviving with family and neighbours in her gloomy basement, cooking on a makeshift wood-fired stove, when the Russians came.

LGBTQ community confronts 'excruciating' monkeypox -- and its stigma

The spread of the monkeypox virus and its prevalence among gay men has raised widespread fear, growing anger and a number of uncomfortable questions for a community still scarred by the early years of the HIV/AIDS epidemic.

Pilgrimage over, but long journey ahead: Pope ends penitent Canada trip

Pope Francis ended his trip to Canada Friday as he began -- by apologizing to Indigenous survivors of Catholic-run schools where for decades children were abused, after meeting with Inuit people in the Canadian Arctic.

Pope apologizes to Inuit for abuse on last leg of penitential Canada trip

Pope Francis ended his trip to Canada Friday as he began, by apologizing to Indigenous survivors of Catholic-run schools where children were abused over a span of decades, after meeting with Inuit people in the Canadian Arctic.

Pope meets Inuit in Arctic for last leg of penitential Canada trip

Pope Francis flew to the Canadian Arctic Friday to meet Inuit survivors of Catholic-run schools where Indigenous children were abused over a span of decades, in the final stop of a landmark tour apologizing for the Church's role.

Profits at ExxonMobil, Chevron skyrocket with oil prices

US oil giants ExxonMobil and Chevron -- targets of White House criticism over soaring gasoline costs -- reported record quarterly profits Friday amid the war in Ukraine that sparked a steep rise in energy prices.

Pope headed to Arctic for last leg of penitential Canada trip

Pope Francis on Friday was to fly to Nunavut, the territory that covers most of the Canadian Arctic, on his final stop in a landmark tour apologizing for the abuse of Indigenous children in Catholic-run schools.

US prices accelerate in June, outpacing income gains

A key US inflation measure accelerated again in June, outpacing gains in income, government data showed Friday, heaping pressure on President Joe Biden and policymakers trying to ease the pain for American families.

Price hikes boost P&G profits despite lower China sales

Higher prices helped Procter & Gamble score increased quarterly profits despite a hit to China sales, and executives on Friday described inflation as having a relatively limited impact thus far on demand.

World Bank refuses new funding for bankrupt Sri Lanka

The World Bank said Friday it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out "deep structural reforms" to stabilise its crashing economy.

Venezuela's Maduro regime loses latest step of UK gold case

Opposition leader Juan Guaido's rival Venezuelan government said Friday it was a step closer to taking control of the oil-rich country's gold reserves, after the latest judgment by a UK court.

ExxonMobil profits surge to $17.9 bn on lofty commodity prices

ExxonMobil's profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil and natural gas prices amid commodity market tightness.

Bahrain latest to ban block-buster Thor

Gulf state Bahrain has joined other Middle Eastern countries in imposing a cinema ban on the fourth instalment of superhero saga Thor, a Hollywood blockbuster featuring gay characters.

European stocks end week higher on growth hopes

European stock markets rose robustly on Friday as official data showed eurozone growth holding up in the face of soaring inflation.

Sony trims annual profit forecast after Bungie purchase

Sony trimmed its annual net profit forecast on Friday, partly due to acquisition expenses including the purchase of US game studio Bungie, creator of hits like "Halo" and "Destiny".

Markets mixed as US contraction lifts bets on slower Fed hikes

Asian stocks were mixed Friday after another contraction in the US economy reinforced recession fears but boosted expectations that the Federal Reserve will slow its pace of interest rate hikes.

Hustling in Lagos to 'survive in hell'

It's midnight. Luxury cars arrive outside Cocoon, a nightclub in Lagos, Nigeria's largest and most vibrant city. In minutes, dozens of people surround the vehicles, hoping to make a buck.

Lottery hopefuls flock to 'lucky' California store as $1bn jackpot looms

The odds of claiming this week's bonanza US lottery prize are less than one-in-300-million -- but one "lucky" convenience store outside Los Angeles is already counting its winnings.

Amazon, Apple beat expectations in gloomy earnings season

Tech giants Amazon and Apple delivered forecast-topping results Thursday, offering some reassurance to an earnings period weighed down by inflation, economic turmoil and war.

Wall Street stocks rally again, shrugging off weak GDP report

Wall Street stocks rose on Thursday despite data showing the US economy contracted for a second straight quarter, as investors took it as a signal the Federal Reserve may slow interest rate hikes.

Amazon tops expectations as quarterly sales climb

E-commerce colossus Amazon on Thursday reported that its sales in the recently ended quarter grew more than expected despite inflation and other economic turmoil.

Argentine protesters demand universal living wage

Thousands of people demonstrated in Buenos Aires on Thursday, demanding a "universal salary" in crisis-ridden Argentina.

In phone talks, Xi warns Biden not to 'play with fire' on Taiwan

President Joe Biden and Chinese counterpart Xi Jinping held "candid" phone talks on Thursday, with Xi warning the US leader not to "play with fire" on Taiwan, according to Chinese state media.

Deal reached for generic drug to prevent HIV infection

A deal has been reached to allow for distribution of a low-cost generic version of a long-term preventative treatment against HIV in low-income countries where most of the world's infections occur, Unitaid and the Medicines Patent Pool announced Thursday.

Recession fears deepen as US economy contracts again

The US economy contracted for a second straight quarter between April and June, government data showed Thursday, adding fuel to recession fears in a headache for President Joe Biden ahead of midterm elections.

Pfizer earnings jump on strong sales of Covid-19 products

Pfizer reported a jump in second-quarter profits Thursday behind a near doubling of revenues driven by sales of its Covid-19 vaccine and therapeutic drug Paxlovid.

US economy contracts in second quarter, deepening recession fears

The US economy contracted for a second straight quarter between April and June, government data showed Thursday, fueling recession fears just months before key midterm elections in a blow for President Joe Biden.

Biden, Xi hold talks on Taiwan, trade dispute

President Joe Biden and Chinese counterpart Xi Jinping spoke by phone Thursday on mounting tensions over Taiwan, a festering trade dispute and their bid to keep the superpower rivalry in check.

Applause as Australian rugby team Manly wear Pride jersey

Australian rugby league side Manly Sea Eagles sported a rainbow-trimmed Pride jersey to loud applause Thursday as the club's owner said the players who refused to wear it were now open to the idea.

US airline JetBlue announces $3.8 bn acquisition of Spirit

JetBlue Airways plans to acquire low-price carrier Spirit Airlines for $3.8 billion, the companies announced Thursday, in what would establish the fifth largest US airline.

Volkswagen 'confident' despite global headwinds

German auto giant Volkswagen said Thursday that it was able to overcome global economic headwinds and supply chain issues to put in a "robust" performance in the first six months of 2022.

Tension on Taiwan, trade hangs over new Biden-Xi phone call

President Joe Biden and Chinese counterpart Xi Jinping were set to talk Thursday, amid questions over whether their long distance exchanges can defuse mounting tensions around Taiwan and trade.

Shell profit rockets on high oil prices

British energy giant Shell said Thursday that its net profit soared more than five-fold to $18 billion in the second quarter, fuelled by resurgent oil and gas prices, and rewarded shareholders with another bumper buyback.

US Senate passes bill to boost domestic chip manufacturing

The US Senate passed a bill on Wednesday to boost domestic production of semiconductors, the in-demand microchips that power everything from smartphones to cars to weapons.

China lockdown, chip shortage hit Nissan profits

Japanese car giant Nissan said on Thursday that net profit sank nearly 60 percent in the three months to June as pressures including a lockdown in Shanghai and chip shortages weighed on business.

Asia, Europe track post-Fed surge on Wall St but caution urged

Asian and European markets rose Thursday following a surge on Wall Street fuelled by hopes that the Federal Reserve could slow its pace of inflation-fighting interest rate hikes.

The Fort Worth Press - Economy (English)