The Fort Worth Press

Oil nears $100 but European stocks rebound on tepid sanctions

Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine.

US home prices saw biggest jump in 34 years in 2021

US home prices in 2021 saw their biggest increase in at least 34 years, according to data released Tuesday, as buyers spent the year snapping up homes and builders struggled to keep up.

US consumer confidence falls as expectations grow tepid

US consumer confidence fell for the second straight month in February, a survey said Tuesday, as Americans' feelings about the economy's present and future health cooled.

Volkswagen eyes separate stock market listing for Porsche

German auto giant Volkswagen on Tuesday said it was drawing up plans to list its luxury brand Porsche as it looks to raise the funds for its move to electric vehicles.

Mining firms targeting Brazil indigenous lands: report

Major mining companies are seeking to expand to currently protected indigenous lands in the Amazon rainforest, bolstered by billions of dollars in financing from international banks and investment firms, a report found Tuesday.

US women's soccer reaches landmark $24 mn settlement in equal pay dispute

The US national women's team has won a $24 million payout and a promise of equal pay going forward in a landmark settlement with US Soccer, the two sides announced Tuesday in a joint statement.

Gas prices 'in God's hands', producers warn as Ukraine crisis sparks surge

Major gas exporting nations said Tuesday they could not guarantee prices or supplies at a summit overshadowed by the worsening Ukraine crisis which has pushed costs to record highs in Europe.

HSBC announces $1 bn share buyback as annual profits double

HSBC on Tuesday announced bumper 2021 profits and plans to repurchase shares worth up to $1.0 billion as the Asia-focused bank continues its recovery from the coronavirus pandemic and major restructuring.

Oil nears $100 as West prepares Russian sanctions

Oil prices surged close to $100 per barrel Tuesday as major crude producer Russia prepared to send troops into two breakaway regions of Ukraine, sparking Western nations to ready economic sanctions against Moscow.

Only nine percent of plastic recycled worldwide: OECD

Less than 10 percent of the plastic used across the world is recycled, the OECD said Tuesday, calling for "coordinated and global solutions" ahead of expected talks on an international treaty on the issue.

Gas exporters working for 'reliable' supplies as Ukraine crisis worsens

Qatar's emir said major gas exporting nations were working to ensure "credible and reliable" supplies as he hosted a forum overshadowed by the worsening crisis in Ukraine on Tuesday.

Women workers must cover up 'even with a blanket', say Afghan Taliban

Women working in Afghan government departments must cover up -- even with a blanket if necessary -- or they may lose their jobs, the Taliban's religious police said Tuesday.

No full recovery until 2024, says Dubai airports chief

Passenger traffic at Dubai international airport, the world's busiest, will not recover to pre-Covid levels before 2024, its CEO told AFP on Tuesday.

Sri Lanka inflation hits record high as crisis worsens

Sri Lanka's inflation hit a record high for the fourth consecutive month, official data showed Tuesday as an economic crisis driven by a crippling foreign exchange shortage worsens.

HSBC announces $1 bn share buyback as 2021 profits double

HSBC on Tuesday announced bumper 2021 profits and plans to repurchase shares worth up to $1.0 billion as the Asia-focused bank continues its recovery from the coronavirus pandemic and major restructuring.

Colombia decriminalizes abortion up to 24 weeks of pregnancy: court

Colombia's high court on Monday decriminalized abortion up to 24 weeks of pregnancy, a landmark ruling for the majority-Catholic country, one of only a few in Latin America that currently allows the procedure.

Chile museum to return Easter Island 'head'

Chile's National Museum of Natural History said Monday it will return to Easter Island an enormous stone statue taken from the Rapa Nui people and brought to the mainland 150 years ago.

Trump's new social media app has rocky rollout

Donald Trump's new social media app has started its gradual rollout but thousands of would-be users encountered glitches or found themselves placed on a waitlist Monday due to what the app called "massive demand."

Kuwait Airways raises Airbus order to 31 jets in $6 bn deal

Kuwait Airways announced Monday an expanded $6 billion deal with Airbus for 31 planes, restructuring an agreement reached in 2014.

Stocks retreat as Russia downplays hopes of Biden-Putin summit

Stock markets mostly fell Monday as the Kremlin warned there were no firm plans for a summit between US President Joe Biden and Russian counterpart Vladimir Putin to avert a possible Moscow invasion of Ukraine.

Hiker's death revives hunting debate in French presidential fight

The accidental killing of a hiker by a teenage hunter in central France has rekindled debate among the country's presidential hopefuls over a divisive tradition that critics say needs more strict regulation.

Investigation claims Credit Suisse handled dirty money

Credit Suisse handled billions of dollars in dirty money for decades, an international media investigation based on a massive data leak claimed on Sunday, in the latest setback for Switzerland's second-largest bank.

'Suisse Secrets' investigation targets Credit Suisse bank

Credit Suisse bank, still reeling from losing billions of dollars last year, faced a fresh challenge Sunday: allegations from an international investigation that it had handled dirty money for decades.

'Swissleaks' investigation targets Credit Suisse bank

Credit Suisse bank, still reeling from losing billions of dollars last year, faced a fresh challenge Sunday: allegations from an international investigation that it had handled dirty money for decades.

'Uncharted' leaps to top of N.America box office

New Sony adventure film "Uncharted" jumped to the top of the North American box office this weekend in the year's biggest opening so far, industry watchers reported Sunday.

Ethiopia starts generating power at Nile mega-dam

Ethiopia began generating electricity from its mega-dam on the Blue Nile on Sunday, a milestone in the controversial multi-billion dollar project.

Luxury sector undaunted by Covid, soaring inflation

The pandemic and soaring inflation have done nothing to take the shine off luxury brands, from Louis Vuitton to Gucci and Cartier, as the sector hiked prices to notch up stellar profits.

Lebanon's 'zombie banks' downsize to weather crisis

Once the economy's crown jewel, Lebanon's banks are shutting branches and laying off employees in droves, resizing to the bleak reality of a crisis they are widely blamed for.

Once-taboo ketamine booms for US at-home mental care

Americans are paying to get a star of the psychedelic medicine movement –- ketamine -– shipped to them for at-home mental health treatments that are being called both a breakthrough and a gamble.

Epstein ally found dead in French prison: prosecutors

French model agent Jean-Luc Brunel, a close associate of disgraced US billionaire Jeffrey Epstein, has been found dead in his Paris prison cell, prosecutors said Saturday, in an echo of the jail suicide of his friend.

Ethiopia to start generating power from Nile dam Sunday

Ethiopia will start generating power from its controversial mega-dam on the Blue Nile on Sunday, government officials told AFP.

Purdue Pharma owners up opioid settlement offer to $6 bn

The owners of Purdue Pharma, maker of OxyContin, have offered to pay up to $6 billion to victims of the US opioid crisis to settle an avalanche of litigation, according to a report filed Friday by a federal mediator.

Rescue efforts resume for 12 missing in Greece ferry fire

Rescuers picked up the search for 12 missing people at the break of dawn on Saturday with the Italian-flagged ferry still burning on the Ionian Sea off Corfu.

War fears mount as Putin to oversee drills, Zelensky to meet allies

Russia's leader will oversee major military drills along Ukraine's borders on Saturday, further escalating tensions after Washington said Moscow would invade within days, and Ukraine's president headed to Europe to drum up support.

Musk donates satellite gear to reconnect Tonga

Tonga says space entrepreneur and Tesla founder Elon Musk has donated 50 satellite terminals to help the volcano-damaged Pacific island reconnect with the world.

American Airlines cuts summer flights due to Boeing 787 delays

American Airlines on Friday said it would cut more international flights over the summer than originally planned as it deals with delays in deliveries of the Boeing 787 Dreamliner long-haul jet.

US resumes avocado imports from Mexico

Avocado imports from the western Mexican state of Michoacan have resumed following a week-long suspension after steps were taken to ensure the safety of American inspectors, the US government said Friday.

Street styles, neon kick off London Fashion Week

Fashionistas braved gale-force winds in London on Friday to attend the first Fashion Week shows, with a schedule dominated by up-and-coming young designers.

NY Fed president sees no need for 'big' rate hike in March

With high inflation hitting the US economy, it is time for the central bank to raise the benchmark borrowing rate, but there is no reason for a "big" early move, a top Federal Reserve official said Friday.

The Fort Worth Press - Economy (English)

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