The Fort Worth Press

Featured

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.

Trump picks Doug Burgum as energy czar in new administration

US President-elect Donald Trump announced Friday that North Dakota Governor Doug Burgum will head a new energy council -- on top of serving as his Secretary of the Interior.

Last news

Mexican sex workers fight injustice with the pen

Paloma Paz puts on a wig and pink heels before heading onto Mexico City's streets for sex work -- a precarious profession that she combines with journalism to decry injustices.

No bed of roses for Ecuador's flower industry

The pandemic, the war on Ukraine, and more than two weeks of ruinous protests over soaring living costs -- Ecuador's flower industry has recently had to surmount one obstacle after another.

G20 finance chiefs meet as Indonesia warns of energy, food catastrophe

Group of 20 finance ministers and central bank chiefs from top economies met in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, with the host warning them failure to tackle energy and food crises would be catastrophic.

Saudi opens airspace to 'all carriers' in gesture to Israel

Saudi Arabia announced Friday it was lifting restrictions on "all carriers" using its airspace, an apparent gesture of openness towards Israel ahead of US President Joe Biden's arrival.

US says no restrictions on farm equipment to Russia

The United States said Thursday that it would not bar the sale of farm equipment to Russia, again denying Moscow's allegations that Western sanctions -- not its invasion of Ukraine -- are causing the global food crisis.

Global stocks mostly fall on latest troubling inflation figures

Stock markets mostly retreated Thursday as fresh evidence of runaway global inflation ramped up expectations of more aggressive interest rate hikes by central banks, while disappointing earnings revived recession fears.

Ukraine war to dominate G20 finance chief meeting in Indonesia

Group of 20 finance ministers and central bank chiefs from top economies will meet in Indonesia Friday for talks on the fallout from Russia's invasion of Ukraine, which has roiled markets, spiked food prices and stoked breakneck inflation.

Donald Trump's first wife Ivana dies aged 73

Ivana Trump -- Donald Trump's first wife and mother of his three eldest children -- has died at the age of 73, the former president announced Thursday.

Fed official signals willingness to hike interest rates full percentage point

US Federal Reserve Governor Christopher Waller signaled Thursday he may support a full percentage point interest rate hike this month -- the biggest increase in more than 30 years and a further indication of the central bank's determination to crush sky-high inflation.

Street party draws curtain on Sri Lanka's Rajapaksa era

Exhausted and drained after nearly 100 days of protests, a small crowd gathered its remaining strength Thursday to celebrate the resignation of Sri Lanka's leader at the seaside headquarters of their campaign to oust him.

New chief at Libya's key oil firm, US warns against confrontation

Libya's government replaced the head of the key National Oil Corporation on Thursday in a dramatic move that prompted the United States to warn against any "armed confrontation" over the sector.

Sri Lanka president submits resignation from Singapore: official

Sri Lanka's president submitted his resignation Thursday shortly after reaching Singapore, the parliamentary speaker's office said, days after the head of state fled protests triggered by his country's worst-ever economic crisis.

Stocks, oil drop on fresh inflation spikes

Stock markets mostly retreated Thursday as fresh evidence of runaway global inflation ramped up expectations of more aggressive interest rate hikes by central banks.

UN urges Africa to swap commodities for tech

The UN's trade body on Thursday said African economies were vulnerable to a triple shock as it urged governments to pave the way for tech startups that would ease dependence on commodities.

Outage hits Twitter service in US, Europe

Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday -- fresh turbulence for the firm locked in a buyout battle with Elon Musk.

JPMorgan Chase reports lower profits, gives cautious economic outlook

JPMorgan Chase reported a drop in second-quarter profits on Thursday, reflecting the impact of a weakening macroeconomic outlook that led it to set aside funds in case of bad loans.

Omanyala gets last minute visa reprieve for Worlds

Africa's fastest man Ferdinand Omanyala on Thursday said he would compete in the World Athletics Championships in Oregon after being granted a last-minute visa to travel to the United States.

Morocco's king endorses new Jewish organisations

Morocco's King Mohammed VI has authorised a reorganisation of the country's Jewish community, a "component" of national culture in the North African country, according to the royal palace.

Asian markets swing as US inflation spikes see rate hike bets soar

Asian markets were mixed Thursday as another forecast-busting US inflation print ramped up bets on a quick series of sharp interest rate hikes by the Federal Reserve as other central banks also race to tighten.

Libya's oil firm chief resists move to replace him

Libya's Tripoli-based government has named a new head of the state oil company to replace veteran technocrat Mustafa Sanalla, who refused to give up his post.

Chinese homebuyers halt mortgage payments on unfinished projects

Chinese homebuyers in dozens of cities have stopped making mortgage payments for unfinished projects, according to data from industry groups, worsening fears of financial contagion in the country's troubled real estate sector.

Asian markets swing as US inflation spike leaves mixed feelings

Asian markets fluctuated Thursday as another forecast-busting US inflation print ramped up bets on a quick series of sharp interest rate hikes that traders hope can be quickly walked back once prices are brought under control.

UK 'jobs miracle' turns into employers' nightmare

Job vacancies seem to come ten-a-penny in Keswick, a tourist town in England's picturesque Lake District, as the hospitality sector cries out for staff -- shortages which are a direct result, critics say, of the coronavirus pandemic and of Brexit.

Netflix partners with Microsoft to offer cheaper streaming plan

Netflix will work with Microsoft to launch a cheaper subscription plan that includes advertisements, the firms said Wednesday, as the streaming giant fights to attract customers.

Rape of 10-year-old jolts US abortion debate

Ohio police have confirmed a 10-year-old rape victim crossed state lines to terminate her pregnancy, local media reported Wednesday, in a case drawing broad attention after the US Supreme Court overturned a federal right to abortion.

US data show big jump in unionization campaigns in fiscal 2022

The number of unionization campaigns has jumped in the 2022 fiscal year, according to federal data released Wednesday, reflecting how the tight US labor market has created opportunity for organized labor.

Twitter shares up after hedge fund bets against Musk

Twitter shares jumped Wednesday after a hedge fund revealed it had taken a stake in the firm based on its "strong case" against Elon Musk for moving to back out of his $44 billion buyout bid.

US consumer prices surge 9.1%, a new 40-year high

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose approval ratings have taken a battering from the relentless rise in prices.

Delta results show strong demand but also cost pressures

Shares of Delta Air Lines tumbled Wednesday as swelling costs pressured quarterly earnings, despite persistently robust demand that so far appears resilient amid inflation.

US consumer prices surge to new 40-year high of 9.1%

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose ratings have taken a battering from the relentless rise in prices.

Biden lands in Israel on first Middle East tour as US president

US President Joe Biden started a Middle East tour on Wednesday in Israel, where leaders will urge tougher action against their common foe Iran, before a delicate stop in oil-rich Saudi Arabia.

European stocks fall before key US inflation data

European equities fell Wednesday with traders on edge before key June inflation data in the United States.

Protesters storm Sri Lanka PM's office after President flees abroad

Protesters in Sri Lanka defied tear gas, water cannon and a state of emergency to storm the prime minister's office on Wednesday after the president fled overseas, with the crowd demanding both men step down in the face of an economic crisis.

Maestro of Alpine climbing dies aged 99

Marcel Remy, the grand old man of Swiss Alpinists and one of the oldest active climbers in the world, has died aged 99, newspapers and several specialist websites reported Wednesday.

Supply risks still haunt market despite high oil prices: IEA

High oil prices have yet to dampen demand which is set to continue rising and may soon outstrip supply, the International Energy Agency warned Wednesday.

Biden heads to Israel on first Middle East tour as US president

US President Joe Biden was Wednesday to start a Middle East tour in Israel, where leaders will urge tougher action against their common foe Iran, before a delicate stop in oil-rich Saudi Arabia.

Sri Lanka declares state of emergency after president flees to Maldives

Sri Lanka declared a state of emergency Wednesday as thousands of people mobbed the prime minister's office after the country's president flew to the Maldives, following months of widespread protests against an economic crisis.

Panama protests continue despite fuel and food price cuts

Thousands of Panamanians took to the street again on Tuesday to protest rising inflation and government corruption, despite the announcement of price cuts for fuel and some food products.

China growth slumps on virus lockdowns, real estate woes: poll

China's economic expansion slumped in the second quarter to levels not seen since early 2020, an AFP poll of analysts found, owing to painful Covid lockdowns and lingering weakness in the real estate sector.

The Fort Worth Press - Economy (English)