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Cuba slowly gets power back after third nationwide blackout in six months

Cubans were gradually getting power back on Tuesday after the third nationwide power outage since the start of the year, causing mounting despair in the face of an energy collapse precipitated by a US fuel blockade.

Seoul dives on tough day for Asia as Samsung fails to ease tech woes

Seoul once again led losses in Asian stocks on Tuesday as chip giant Samsung tumbled despite an eye-watering rise in profit, stoking fears that the record-breaking, AI-fuelled rally might have reached the end of the road.

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S&P says sharing office space giant WeWork in 'selective default'

Embattled flexible workspace provider WeWork is in "selective default" after failing to meet conditions set by debt holders, ratings agency S&P said Wednesday.

Disney to complete takeover of Hulu with $8.6 bn deal

The Walt Disney Company on Wednesday announced it will buy Comcast's $8.6 billion stake in Hulu, completing its takeover of the streaming service.

EU squeezes Meta on personal data use for targeting ads

The European Data Protection Board said Wednesday it had adopted a binding decision that will ban Facebook and Instagram owner Meta from using the personal data of users for targeted ads without their explicit consent.

US Fed holds interest rates at 22-year high

The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for a second straight meeting, as it moves to slow stubborn inflation without damaging the strong economy.

US prosecutors brand Bankman-Fried thief in crypto trial

Former cryptocurrency whiz kid Sam Bankman-Fried knowingly stole money from customers of his FTX platform, US prosecutors told a federal court in closing arguments on Wednesday.

US Fed keeps interest rates at 22-year high

The US Federal Reserve voted Wednesday to hold interest rates at a 22-year high for a second straight meeting, as it moves to slow stubborn inflation without damaging the strong economy.

Mexico announces recovery plan for hurricane-hit Acapulco

Mexico's government announced Wednesday an aid and reconstruction plan worth nearly $3.5 billion for victims of a hurricane that devastated the beachside city of Acapulco.

At halfway point, next challenges loom for ECB's Lagarde

Halfway through an eight-year stint as head of the European Central Bank, Christine Lagarde has cause to cheer as inflation finally slows after an unprecedented streak of interest rate hikes.

Bitcoin wins boost on hope of broader trading

Bitcoin's price has risen strongly in recent weeks with the United States possibly set to allow a popular type of trading in the cryptocurrency that would further normalise the asset.

US Fed starts second day of rate talks with another pause expected

The US Federal Reserve began its second day of interest rate deliberations Wednesday, after which it is widely expected to announce it will keep interest rates at a 22-year high in a bid to tackle inflation without harming the buoyant US economy.

Barry Callebaut wants to tap into vegan power, Asia growth

Barry Callebaut, the world's largest industrial cocoa and chocolate manufacturer struggles, said Wednesday it aims to double its business in Asia as well as its specialties unit as it seeks to move on from a salmonella outbreak at a major facility.

Job growth up in US private sector on services boost

Hiring in the US private sector rebounded in October, with education and health care creating the most jobs, payroll firm ADP said Wednesday.

Stocks, dollar mixed before Fed rate call

Major stock markets and the dollar traded mixed Wednesday, with all eyes on whether the US Federal Reserve freezes interest rates as expected.

Albania tries to halt flight of young doctors

Seeking to stem the flight of its young doctors, Albania has brought in a law to make recent medical graduates work in their home country for up to five years, or until they pay back their tuition fees.

Toyota hikes annual forecast as first-half net profit doubles

Toyota ramped up its annual net profit forecast to $26.1 billion on Wednesday after reporting it more than doubled in the first six months of the year.

Europe's economic powerhouse tests a shorter working week

Maximilian Hermann's weekend starts on Friday morning, when he puts his motorcycle helmet on and takes his bike out for a ride to the southern German Alps.

The tech to recycle clothes is only just being invented

The vast waste and pollution caused by the fashion industry has made recycling clothes a top priority, but only now are simple tasks like pulling the sole off a shoe being done by machines.

China lithium boom harming fragile Tibetan plateau: report

China's booming electric vehicle industry is fuelling a lithium rush in the Tibetan plateau that risks damaging the troubled region's fragile ecology and deepening rights violations, research published Wednesday said.

US Fed likely to hold rates again despite strong economic growth

The Federal Reserve is widely expected to announce Wednesday that it will keep interest rates at a 22-year high in a bid to tackle inflation without harming the buoyant US economy.

California jury says Tesla's Autopilot not to blame in fatal 2019 crash

A California jury on Tuesday rejected a claim that a Tesla car involved in a fatal 2019 crash had a manufacturer's defect in its "Autopilot" self-driving feature, according to a court spokesperson.

Pakistan to open holding centres ahead of Afghan deportations

Pakistani authorities on Wednesday were set to open a series of centres across the country to begin processing hundreds of thousands of undocumented Afghans ahead of mass deportations.

Saudi Arabia only bidder for 2034 World Cup

Saudi Arabia is in line to host the 2034 World Cup after FIFA announced that the kingdom had submitted the only "expression of interest" in hosting the tournament.

Toyota ups North Carolina EV plant investment by $8 bn

Toyota will significantly expand an electric battery plant in North Carolina, ramping up a bet on zero-emission vehicles in the United States, the automaker announced Tuesday.

UK govt backs down over plans to shut rail ticket offices

The UK government has scrapped controversial plans to close almost all railway station ticket offices in England, following fierce criticism from disabled campaign groups, unions and passenger watchdogs.

Prada sees slowing sales growth in third quarter

Prada saw its sales growth decelerate during the third quarter but the Italian luxury group said Tuesday sales for the year were still solidly higher thanks to strong performances in Asia and Europe, its top markets.

Climate 'loss and damage' fund tops UAE talks ahead of COP28

Setting up a "loss and damage" fund for poorer nations hit by climate change dominated preliminary talks on Tuesday, one month before COP28 in Dubai where delegates look set to tussle over the future of fossil fuels.

US Fed poised to keep rates unchanged as it opens key meeting

The US central bank opened a key policy meeting Tuesday, with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession.

Caterpillar earnings boosted by North American strength

Caterpillar reported higher profits Tuesday behind strong pricing trends, especially in its home North America market, which led revenue growth.

Europe stocks rise despite economic and Mid East gloom

European stocks rose Tuesday after a mixed Asian session despite spreading economic and geopolitical uncertainty on the eve of a US interest-rate decision.

Pfizer reports loss as Covid-19 revenues shrink

Pfizer reported Tuesday a loss following a sharp fall in the sales of its Covid-19 vaccine and therapeutic from pandemic peaks.

Stellantis beats forecasts despite US strike

Stellantis beat analyst forecasts with a jump in third quarter sales despite the automaker acknowledging Tuesday the strike by its US workers cost $3.2 billion in lost revenue.

AB InBev profit higher despite Bud Light sales plunge

AB InBev, the world's top brewer, said Tuesday sales and net profits edged higher in the third quarter despite a drop in sales volume, in particular in the United States where Bud Light has been boycotted by conservative figures.

Volkswacht Bodensee - Economy (English)