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US consumer inflation rises in October on higher housing costs

US consumer inflation edged higher last month spurred by an increase in housing costs, according to government data published Wednesday, complicating the US Federal Reserve's plans to cut interest rates.

India delivery app Swiggy shares gain on market debut

Indian food delivery firm Swiggy rose nearly 17 percent on its market debut Wednesday after raising $1.34 billion in the country's second-biggest IPO this year, as investor optimism offset profit concerns.

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WHO sees pause, even end of pandemic for Europe

The World Health Organization on Thursday offered Europe hope of a "long period of tranquility" and even "enduring peace" in the war on coronavirus, with a growing list of nations lifting almost all Covid curbs.

ECB sits tight as inflation pressure rises

The European Central Bank stuck to its ultra-loose monetary policy on Thursday, despite record inflation in the eurozone putting the Frankfurt-based institution under mounting pressure.

BoE agrees second rate hike in row as inflation soars

The Bank of England on Thursday lifted its main interest rate for the second time in a row in a bid to tackle decades-high inflation.

UK to support consumers as energy price cap rises 54%

The UK government on Thursday stepped in to help the hardest-hit households struggling with the rising cost of living, announcing a £9 billion package to offset soaring energy bills.

Stock markets mostly fall before European interest rate decisions

Stock markets mostly dropped Thursday as profit-taking set in after recent strong gains, as traders awaited interest rate updates from the European Central Bank and the Bank of England.

Cuba runs out of milk, breaking Castro's promise

In the early days of communism in Cuba, Fidel Castro had pledged that every child under seven would have a liter of subsidized milk every day.

Turkey inflation surges to near 20-year high

Turkey's annual inflation rate in January reached its highest level since April 2002, official data showed Thursday, after a currency crisis decimated people's purchasing power.

Shell swings into huge profit as oil price recovers

Energy giant Shell surged back into profit last year as oil prices rocketed on recovering demand with economies reopening from pandemic lockdowns.

Rio Tinto's recent scandals

Revelations of rape and sexual assault at Rio Tinto are the latest in a series of scandals to hit the global mining giant, which is listed in London and Sydney.

Asia stocks mixed as profit-taking, tech woes offset catch-up play

Asian markets were mixed Thursday, with a split between those suffering from profit-taking following a recent rally and those that were playing catch-up after a midweek break across much of the region.

Scraping a living: salt offers women lifeline in Yemen

Scooping up handfuls of white crystals from coastal pools, a group of women in Yemen harvest salt -- a traditional industry proving to be a lifeline after seven years of war.

Lisa Cook, expert on economic scars of racism, now Biden Fed nominee

A researcher focused on how discrimination has harmed the American economy and the damage downturns do to the poor, Lisa Cook would bring a new perspective to the US central bank.

Biden's Fed board nominees become political footballs

Though set up as an institution operating above the partisan fray in Washington, the Federal Reserve has again become a political football, with Republicans and business groups attacking President Joe Biden's nominees to serve on the central bank's board.

NFT museum opens its doors in United States

A museum dedicated to NFTs -- the blockchain-based creations that have taken the artworld by storm -- has opened its doors in the United States.

The NFT artist who sold a trashcan image for $252,000

Marcel Duchamp scandalised the art world in 1917 by submitting a urinal as his entry to a prestigious competition. A century later, an American artist known as Robness sparked his own controversy by selling an NFT of a rubbish bin for $252,000.

Meta's profit slips as Facebook loses users

Facebook's parent firm Meta on Wednesday delivered a gloomy mix of a sharper-than-expected drop in profit, a decrease in users and threats to its ad business that plunged shares some 22 percent in after-hours trading.

SpaceX rocket successfully launches US spy satellite

A US intelligence agency said Wednesday that its newest spy satellite successfully launched into orbit atop a reusable SpaceX Falcon 9 rocket.

Brazil hikes key interest rate to double digits

Brazil's central bank hiked its benchmark interest rate by 1.5 points Wednesday to 10.75 percent, bringing it into double digits for the first time in nearly five years to fight rampant inflation.

Spotify shares fall on worries over slowing growth amid Rogan row

Shares of Spotify tumbled Wednesday after the music streaming service -- roiled in controversy over its star podcaster Joe Rogan -- projected lower profit margins in the coming earnings period as subscriber growth slows.

Facebook parent Meta's profit slips as problems pile up

Facebook's parent firm Meta delivered unsteady results Wednesday, with threats to its key ad business, big expenses on its metaverse vision and a weaker forecast that plunged shares some 20 percent in after-hours trading.

Armenia, Turkey resume first flights in two years

Historic rivals Turkey and Armenia on Wednesday resumed their first commercial flights in two years as part of cautious efforts to warm their frozen ties.

Facebook parent Meta's profit slips

Facebook's parent firm Meta on Wednesday posted a $10 billion quarterly profit that missed expectations alongside a downbeat forecast, sending shares plummeting some 20 percent in after-hours trading.

Uncrewed Artemis I mission to Moon pushed back

The first mission in NASA's program to take humans back to the Moon has been delayed until spring at the earliest, the US space agency said Wednesday, saying it needed more time to complete safety checks.

Sri Lanka seeks IMF advice amid worsening crisis

Sri Lanka has asked for "advice" from the International Monetary Fund amid a worsening economic crisis, the finance minister said Wednesday, signalling Colombo could seek an international bailout.

Germany blocks German-language Russian channel

The German broadcasting regulator said Wednesday it had banned the transmission of the German-language channel of Russian state broadcaster RT, with Moscow vowing to take "retaliatory measures".

Thousands lose power but Mauritius escapes 'major damage' from cyclone

Thousands of homes were left without power in Mauritius on Wednesday but the Indian Ocean island nation escaped without "major damage" from a battering by powerful cyclone winds.

USA Swimming changes rules in wake of transgender athlete's success

A transgender American swimmer's controversial career hung in the balance Wednesday after the collegiate body governing the sport announced new rules, including testosterone limits, that could impact her ability to race competitively.

US private hiring slumps in ominous labor market sign

US private businesses shed jobs last month for the first time since December 2020 as the Omicron strain again complicated workplaces, potentially a bad sign for the upcoming government employment report.

Amazon oil spill in Ecuador was 6,300 barrels

An oil spill caused by a ruptured pipeline in Ecuador's part of the Amazon leaked almost 6,300 barrels into an environmental reserve, according to information given on Wednesday by the company that owns the conduit.

Turkey says 12 migrants blocked by Greece die at border

Turkey on Wednesday accused Greece of allowing 12 migrants to die in the winter cold after stripping them of their clothes and then pushing them back across the Turkish border.

OPEC+ backs another modest oil output hike despite surging prices

Top oil-producing countries led by Saudi Arabia and Russia announced another modest increase in output on Wednesday despite soaring crude prices and geopolitical tensions rattling the markets.

US private hiring fell 301,000 amid January Omicron surge: survey

Private US businesses shed 301,000 jobs last month as the Omicron variant of Covid-19 disrupted activity, payroll services firm ADP said Wednesday in a report that was far worse than expected.

OPEC+ eyes modest output boost despite price surge

Top oil producing countries led by Saudi Arabia and Russia are expected to stick to their guns and announce another modest output increase on Wednesday despite soaring crude prices.

Two Afghan journalists released after Taliban detention

Two Afghan journalists detained by the Taliban earlier this week were released Wednesday, the news editor of their media organisation said.

Eurozone inflation rises to new record high

Inflation in the eurozone soared to a new record high in January, official data showed Wednesday, adding pressure on the European Central Bank ahead of a monetary policy meeting this week.

Santander profits soar to pre-pandemic levels

Spanish banking giant Santander bounced back from the pandemic as it returned to profit last year, beating analyst expectations and exceeding its pre-Covid earnings, the group said Wednesday.

Sri Lanka gets urgent $500m Indian loan to pay for oil

Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation.

Rape stalks women in C. Africa's dirty war

Maia looks down at her expanding belly, her eyes welling with tears.

'Spider-Man' success helps Sony lift annual profit outlook

Sony upgraded its full-year net profit forecast on Wednesday, buoyed by the success of its latest "Spider-Man" movie and strong results in the gaming sector despite the global chip shortage.

The Fort Worth Press - Economy (English)