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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.

Fitch upgrades Argentina debt rating amid economic pain

Credit ratings agency Fitch upgraded Argentina's sovereign debt rating to "CCC" from "CC" on Friday, citing improved ability to meet upcoming foreign debt payments and successful economic reforms under President Javier Milei.

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ADB slashes Asia growth forecast as fuel, food prices rise

The Asian Development Bank on Thursday slashed its 2022 growth forecast for developing Asia and warned economic conditions could worsen, as the war in Ukraine and supply chain disruptions drive up prices.

Hit by China shutdown, Tesla boosts auto prices and sells bitcoin

Tesla reported solid quarterly earnings Wednesday despite a hit from Covid-19 lockdowns in Shanghai that Chief Executive Elon Musk said prompted the company to liquidate most of its bitcoin holdings.

United Airlines reports profit but sees higher recession risk

United Airlines reported a profitable second quarter Wednesday as strong travel demand boosted revenues, but signaled plans to rein in plane capacity as carriers confront operational challenges and recession worries.

European stocks retreat, euro dips while US shares rise

European stocks retreated Wednesday as the EU took precautionary measures in the face of reduced Russian gas supplies, but Wall Street extended its rally for a second day.

Tesla profits top estimates despite China production hit

Elon Musk's ambitious electric vehicle company scored about twice the profits in the just-finished quarter as that of the year-ago period.

The complex negotiations to get grain out of Ukraine

Talks are progressing on the opening of sea corridors to allow 20 million tonnes of grain still blocked in Ukraine and the upcoming harvests to be shipped around the world.

Americans in Paris get more bang for their buck as euro slides

As the dollar enjoys near-parity with the euro, Americans returning to Paris in droves after two years of Covid restrictions find that their greenbacks go a much longer way than they used to.

European stocks retreat, euro dips

European stocks retreated Wednesday as the EU took precautionary measures in the face of reduced Russian gas supplies.

US home sales fall again in June as prices hit new record

US home prices hit another new peak in June amid short supply, while existing home sales fell for the fifth straight month amid the ongoing rise in mortgage rates, according to industry data released Wednesday.

South Africa's power cuts take a toll on mental health

You can't do your work because there's no power. You eat late and bolt your food before the lights fail. And then to be at home, in the utter dark, gives you the creeps.

European stocks, euro drop awaiting Russia gas move, ECB

European stocks and the euro retreated Wednesday as the EU took precautionary measures in the face of reduced Russian gas supplies.

Six-time PM Wickremesinghe elected Sri Lanka president

Six-time prime minister Ranil Wickremesinghe was elected as crisis-wracked Sri Lanka's new president by the country's parliament Wednesday, with the backing of the party of the ex-leader -- who fled abroad after his palace was stormed by protesters.

China speeding up approvals for new coal plants: Greenpeace

China has ramped up approvals for new coal power plants this year, Greenpeace said Wednesday, with authorities trying to lower the risk of economically painful electricity shortages.

Sri Lanka begins vote to replace president who fled

Sri Lanka's parliament began voting Wednesday for a president to replace Gotabaya Rajapaksa, who fled abroad after his palace was stormed by angry protesters now bracing for a crackdown from his likely successor.

Rolls-Royce champions energy transition at Farnborough

British aircraft engine maker Rolls-Royce is "championing" the energy transition and the decarbonisation of aviation, its outgoing chief executive Warren East told AFP on Tuesday at the Farnborough airshow.

India's mango man, father of 300 varieties

Every day, Indian octogenarian Kaleem Ullah Khan wakes at dawn, prays, then ambles about a mile to his 120-year-old mango tree, which he has coaxed into producing more than 300 varieties of the beloved fruit over the years.

US House passes bill to protect same-sex marriage

The US House of Representatives passed a bill on Tuesday that would provide federal protection for same-sex marriage amid fears that the Supreme Court could roll back recognition of such unions.

Stocks advance, euro rallies ahead of ECB meeting

Stock markets mostly advanced on Tuesday, while the euro rallied against the dollar as traders looked ahead to a key European Central Bank meeting later this week.

Netflix subscriber numbers drop two quarters in a row

Netflix reported on Tuesday losing subscribers for the second quarter in a row as the streaming giant battles fierce competition and plateauing demand.

Stocks advance, euro rallies

Stock markets mostly advanced on Tuesday, while the euro rallied against the dollar as traders looked ahead to a key European Central Bank meeting later this week.

Airbus tails Boeing in Farnborough jet orders tussle

European planemaker Airbus trailed its fierce US rival Boeing in an orders battle on the second day of the Farnborough airshow on Tuesday, as southern England buckled under a record heatwave.

Court battle opens in Musk, Twitter buyout fight

The high stakes court battle between Elon Musk and Twitter kicked off on Tuesday, as the social media firm tries to force the entrepreneur to honor their $44 billion buyout deal.

French farms use huge fans to keep dairy cows cool

With new record high temperatures being set across France it isn't just humans that are suffering: even cows high in the mountains need fans to get through the heatwave.

Kenya rejects blame over Omanyala US visa debacle

Kenyan authorities have rejected blame over a US visa hitch that may have robbed African 100-metre champion Ferdinand Omanyala of a chance of a medal at the World Championships in Oregon.

Stocks advance despite Apple report concerns

Stock markets mostly advanced on Tuesday despite fresh recession worries on a report tech titan Apple may scale back hiring and investment.

European stocks steady amid Apple report concerns

Europe's main stock markets steadied and the euro rallied against the dollar Tuesday as traders looked ahead to a key European Central Bank meeting later this week.

Venice pushes tourists to drink from fountains and shun plastic

A few steps from Venice's St. Mark's Square, a little girl fills her water bottle at a courtyard fountain, a haven of peace far from the hordes of tourists.

Markets drop as Apple report fans economic worries

Most stocks fell Tuesday after a Wall Street sell-off fuelled by fresh recession worries following a report that Apple planned to ease back on spending due to uncertainty over the economic outlook.

Ghana IMF loan outcry pressures government over economy

Ghanaian trader Mohammed Biney was already struggling when the government passed a new tax on electronic money transactions this year to try to revive the economy.

Indian rupee breaches 80 per dollar, hits new record low

The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

SAS and pilots' unions reach agreement, ending strike

Scandinavian airline SAS and the unions representing their pilots said Tuesday that they had reached an agreement, ending a two-week strike that has cost the ailing airline between $9 and $12 million a day.

Amanda Lee named first female pilot in US navy aviation team

The US Navy's famed aerial display team, the Blue Angels, named Lieutenant Amanda Lee on Monday as its first female pilot to fly fighter aircraft.

US bank results highlight risk and resiliency

Despite mounting worries over inflation, just-released bank earnings painted a resilient picture of the US economy and consumer, generating talk that any recession might be milder than earlier downturns.

Heatwave-hit Farnborough airshow basks in bumper Boeing order

Britain's Farnborough airshow flew into view Monday under a sweltering heatwave, as US planemaker Boeing basked in the glow of the first gigantic order in global aviation's first get-together since Covid.

Russian shelling kills 6 in Donbas, EU defends sanctions on Moscow

Russian shelling of a town in eastern Ukraine Monday killed six people, Kyiv said, as EU ministers meeting in Brussels insisted that the pressure of Western sanctions on Moscow was working.

Stellantis ending Jeep production in China

US-European carmaker Stellantis said on Monday it was ending production in China of its Jeep SUV after failing to acquire a majority stake in its joint venture with local firm GAC.

Goldman Sachs profits tumble despite strong trading results

Goldman Sachs reported a 48 percent drop in quarterly earnings Monday after setting aside more funds in case of bad loans, but shares rose as it topped analyst estimates.

Johannesburg transport project digs into wounds of the past

Off Johannesburg's main highway, surrounded by skyscrapers, heavy machinery has unearthed one of the city's original wounds -- a deep gash left by the 1880s gold rush.

Panama government and protesters strike deals to clear key highway

Panama's government and indigenous leaders reached a second deal Sunday to clear all remaining demonstrators from the Panamerican Highway in exchange for lower fuel prices, ending a two-week blockade that had stymied food deliveries.

The Fort Worth Press - Economy (English)