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Featured

Iran stands firm on Hormuz plan after US rejection

Iran stood firm Sunday on its conditions for reopening the Strait of Hormuz, despite US President Donald Trump's rejection of the proposal that had created some optimism for breaking the Mideast war stalemate.

Italy winemakers hail bumper harvest but cut output

Wine growers in Italy's Piedmont region are celebrating a bountiful harvest despite the extreme heat but warn they have to cut production because of trade headwinds and changing consumer habits.

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Half a million strike in UK's largest walkout in 12 years

Half a million workers went on strike in Britain on Wednesday, calling for higher wages in the largest such walkout in over a decade, closing schools and severely disrupting transport.

Hong Kong economy shrank 3.5 percent in 2022

Hong Kong's economy shrank by 3.5 percent in 2022, with exports plunging and the city's worst-ever coronavirus outbreak battering businesses, the government announced Wednesday, while saying it hoped China's reopening would spur a recovery.

Adani shares nosedive as Indian tycoon drops down rich list

Shares in the Indian tycoon Gautam Adani's flagship firm nosedived again on Wednesday as its owner dropped out of the Forbes top 10 rich list following allegations of massive accounting fraud.

Premier League January spending spree sends records tumbling

Premier League clubs spent a record £815 million ($1 billion) in a frantic January transfer window -- nearly double the previous highest figure, according to sports finance experts Deloitte.

US Fed set to slow rate hikes but signal inflation fight not over

The Federal Reserve starts the second day of its policy meeting Wednesday, on growing expectations that it will step down to a smaller interest rate hike as red-hot inflation shows signs of cooling.

Electric cars gain record market share in Europe

Electric car sales set a new market share record in the European Union in 2022, industry figures showed Wednesday, as the region seeks to rid itself of fossil fuel cars.

Share sale fails to halt Adani market slide in India

A successful public offer failed to stop investors dumping shares in Indian tycoon Gautam Adani's business empire for a fifth day on Wednesday after allegations of massive accounting fraud from a short-seller investment group.

Asian markets rebound from losses after Wall St rally

Asian markets bounced back from two days of losses on Wednesday as traders tracked a Wall Street surge fuelled by data pointing to slowing US inflation and hopes the Federal Reserve's rate hike drive is coming to an end.

Boom times for francophone Africa's TV and film industry

Standing in a barren schoolyard surrounded by baobab trees at the end of a dusty road in central Senegal, Leila Sy takes a look around and smiles.

All Blacks star Savea praises Johnstone's 'courageous' coming out

New Zealand forward Ardie Savea said Wednesday that he believes Campbell Johnstone's "courageous" coming out as the first gay All Black could pave the way for other rugby stars.

Uganda Grammy nominee Eddy Kenzo triumphs over tragedy

Orphaned and homeless, Eddy Kenzo used to struggle to persuade DJs to play his songs, but Uganda's first Grammy contender said his success offers hope that even the poorest person can triumph.

Arctic cold 'no sweat' for electric cars in Norway

Norwegian electric car owners have a word for the way they feel when they look nervously at their battery indicators while driving in subfreezing weather: "rekkevideangst", or "range anxiety".

Most Asian markets rebound from losses after Wall St rally

Most Asian markets bounced from two days of losses on Wednesday as traders tracked a Wall Street surge fuelled by data pointing to slowing US inflation and hopes the Federal Reserve's rate hike drive is coming to an end.

Iraqi PM says banking reforms reveal fraudulent dollar transactions

Iraq's premier said Tuesday that new banking regulations had revealed fraudulent dollar transactions made from his country, as the fresh controls coincide with a drop in the local currency's value.

Mixed day for global stocks ahead of major central bank moves

Wall Street stocks rallied Tuesday on mostly good corporate earnings after a mixed session in overseas markets ahead of key central bank decisions.

A US corporate scourge deflates the empire of Indian tycoon Adani

Nathan Anderson sees himself as a scourge of corporate manipulation, but some investors and business leaders see short-sellers like him as engaging in tactics more akin to Wall Street gunslinging for profit.

French protests against Macron's pension reform gather momentum

Protests against French President Emmanuel Macron's plan to reform the pension system gathered momentum on Tuesday, with more than 1.27 million people in the street according to the interior ministry.

Higher costs drag Caterpillar profits lower

Caterpillar reported a drop in profits Tuesday as higher costs and the drag from the strong dollar offset the lift from buoyant demand in industrial markets.

Zverev hails 'justice' as ATP finds 'insufficient evidence' of abuse

Alexander Zverev said "justice has prevailed" after tennis chiefs announced Tuesday there was "insufficient evidence" to substantiate allegations of domestic abuse against the German former world number two.

EPA blocks Alaska mining project in salmon-rich Bristol Bay

US environmental authorities on Tuesday blocked a huge gold and copper mine project in Alaska's pristine salmon-rich Bristol Bay.

Pfizer eyes big drop in Covid-related revenues in 2023

After two straight years of surging sales due to Covid-19 products, Pfizer projected a steep decline in 2023 revenues as demand for vaccines and therapeutics ebbs.

US Fed starts policy meeting with smaller rate hike likely

US central bankers opened a two-day policy meeting Tuesday on rising expectations that they will slow the pace of interest rate hikes again, as inflation begins to fade.

After turbulent year, UBS upbeat with eye on Asia

Swiss banking giant UBS voiced optimism for 2023 on Tuesday, hoping that higher interest rates and a swelling business in Asia would boost its results following a turbulent 2022.

GM profits rise after record quarter in North America

General Motors rode a strong performance in North America to higher fourth-quarter profits and said Tuesday that an easing in logistics problems has helped brighten its outlook for 2023.

Eurozone dodges recession but gloomy outlook persists

The eurozone economy showed greater resilience than expected after avoiding a recession in the fourth quarter of 2022, official data showed Tuesday, but the outlook remained gloomy as soaring prices dampen growth.

ExxonMobil reports record profits of $55.7 bn in 2022

ExxonMobil reported record annual profits of $55.7 billion in 2022 on Tuesday, reflecting higher commodity prices amid recovering demand and the impacts of Russia's invasion of Ukraine.

Brexit gloom prevails on UK's three-year anniversary

British Prime Minister Rishi Sunak defended Brexit as a "huge opportunity" on Tuesday, as the UK marked three years since leaving the EU amid economic crisis and a growing public sense of "Bregret".

Large investors pull Adani's $2.5 bn share sale through after stock rout

Adani Group's ambitious share sale exceeded its subscription targets Tuesday in a relief for the Indian conglomerate, which is reeling from allegations of "brazen" corporate fraud that wiped more than $65 billion off its value.

No ATP action against Zverev after 'insufficient evidence' of abuse

Former world number two Alexander Zverev will face no disciplinary action from the ATP after an independent investigation found "insufficient evidence" to substantiate allegations of domestic abuse, it was announced Tuesday.

UK retail giant Tesco to axe over 2,000 jobs

Supermarket group Tesco, the biggest retailer in Britain, announced Tuesday plans to slash about 2,100 jobs, as sky-high inflation hikes costs.

New French protests, strikes target Macron pensions plan

French President Emmanuel Macron on Tuesday faced a new wave of anger over his plan to reform pensions, with nationwide strikes and protests causing widespread disruption in transport, schools and other public services.

Peru Congress to resume debate on bringing elections forward

Peru's Congress will resume debate Tuesday on a bill to bring forward elections, a move aimed at ending weeks of protests that have left dozens dead and brought parts of the country to a standstill.

Volkswacht Bodensee - Economy (English)