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Featured

How hot can the US-Canada trade war get?

The US-Canada trade war has escalated rapidly, rupturing what was once one of the world's closest economic partnerships.

Belgium raids illicit cigarette factory in push to stub out growing trade

The smell of tobacco hung thick in the air as dozens of customs officers on Wednesday raided an illicit cigarette factory in a warehouse in Belgium -- a growing hub for counterfeit producers.

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Amazon triples quarterly profit as cloud surges

E-commerce titan Amazon on Tuesday said profit in the first three months of 2024 tripled as its cloud, ads, and retail businesses thrived.

Ex-Binance chief jailed for four months in US

The founder of cryptocurrency firm Binance was sentenced to four months in US prison on Tuesday after pleading guilty to money laundering charges, in the most high-profile crypto case since Sam Bankman-Fried was jailed.

Milei's liberalization reforms get a provisional green light

Argentine lawmakers gave approval in principle Tuesday for a swath of liberalizing reforms eyed by President Javier Milei in a rare legislative boost for his budget-slashing agenda.

Tesla to cut hundreds more jobs in Musk cost push: report

Tesla plans hundreds of additional job cuts beyond a recent company-wide layoff as it cracks down on costs in a tough electric vehicle market, according to a US media report.

Gaza boycott continues to weigh on McDonald's sales

McDonald's reported a modest increase in quarterly profits Tuesday despite a boycott stemming from the Middle East conflict expected to drag on sales for the foreseeable future.

G7 to phase out coal-fired power plants by mid-2030s

G7 ministers agreed a timeframe Tuesday for phasing out coal-fired power plants, setting as a goal the mid-2030s, in a move hailed as significant by some environmentalists but slammed as "too late" by others.

Iconic French painting to make comeback in true colours

A world-famous painting of a bare-chested woman leading French revolutionaries is this week to reveal its true colours after restorers cleansed it from decades of varnish and grime.

Changpeng Zhao, the 'normal guy' who conquered crypto

During his time at the helm of the world's biggest cryptocurrency firm, former Binance boss Changpeng Zhao, who will be sentenced in the United States later Tuesday for money laundering, perfected the humble executive look.

European satellite giant SES to buy US rival Intelsat

European satellite group SES will acquire US rival Intelsat for $3.1 billion, the companies said Tuesday, seeking to compete in a race for space-based internet service led by Elon Musk's Starlink.

Chinese tech giant Huawei profit surges 564%, biting into Apple sales

Tech giant Huawei's first-quarter profits surged over fivefold year-on-year, a company filing showed Tuesday, as the US-sanctioned firm continues a rebound and bit into competitor Apple's sales in China.

Abu Dhabi-backed group ends Telegraph takeover bid

An Abu Dhabi-backed group planning to take over Britain's Telegraph Media Group (TMG) said Tuesday it will withdraw and sell on the business after the UK government moved to block the deal.

Eurozone stocks sag on strong euro as region exits recession

Eurozone equities sagged Tuesday, weighed down by the strong euro as investors digested bright economic news, while London hit another record peak on earnings-driven optimism.

UK to deport 5,700 migrants to Rwanda this year

The UK expects to deport 5,700 migrants to Rwanda this year, a senior minister said Tuesday, after the government published new details on the controversial plan.

EU probes Facebook, Instagram over election disinformation worries

The EU on Tuesday launched an investigation into Meta's Facebook and Instagram over concerns the platforms are failing to counter disinformation ahead of EU elections in June.

Eurozone economy rebounds in first quarter, inflation stable in April

The eurozone economy emerged from recession with greater than expected growth in the first quarter of 2024 and inflation under control, official data showed Tuesday.

HSBC announces surprise retirement of chief executive

Global bank HSBC announced Tuesday the shock departure of chief executive Neil Quinn, who will retire after overhauling the group in an "intense" five-year tenure weathering a Covid fallout, simmering geopolitics, and shareholder pressure to spin off Asia assets.

Most Asian markets build on Wall St rally, yen holds rebound

Markets mostly rose Tuesday following advances on Wall Street, while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve's upcoming policy decision.

Plastic pollution talks move closer to world-first pact

A fourth and penultimate round of UN-led negotiations to solve global plastic pollution wrapped up in Ottawa early on Tuesday with a world-first pact said to be within reach by year's end but without a cap on the production of polymers.

Dying salmon trouble Norway's vast fish-farm industry

They are hailed for their omega-3 fatty acids and micronutrients, but Norway's salmon are not in the best of health themselves at the fish farms where they are bred.

Microsoft CEO pledges $1.7 bn AI, cloud investment in Indonesia

Microsoft's chief executive officer met the president of Indonesia on Tuesday, pledging a $1.7 billion investment in artificial intelligence and cloud computing to help develop the archipelago's AI infrastructure.

HSBC says chief executive Noel Quinn 'to retire'

Banking giant HSBC said Tuesday that chief executive Noel Quinn would retire after overseeing a "successful transformation" of the firm and record profits during his almost five years in charge.

L'Occitane stocks surge in Hong Kong after privatisation offer

Shares in French skincare giant L'Occitane jumped almost 13 percent in Hong Kong on Tuesday as they resumed trading after its owner offered to take it private.

Asian markets build on Wall St rally, yen holds bounce

Asian markets extended a rally Tuesday following advances on Wall Street, while the yen held gains after the previous day's sharp swings and focus turned to the Federal Reserve's upcoming policy decision.

Asia's first spot bitcoin, ether ETFs start trading in Hong Kong

Hong Kong on Tuesday launched trading of Asia's first spot bitcoin and ether exchange-traded funds (ETFs), moving forward in the city's race to become a regional virtual asset investment hub.

Ex-Binance chief set for sentencing in US court

US federal prosecutors are calling for ex-Binance chief Changpeng Zhao to be sent to prison when he appears Tuesday for sentencing on money laundering charges.

Indian forest activist at the coalface of mining battle

Deep in an Indian forest, activist Alok Shukla greets friendly faces among a small band of protesters sitting in the way of plans to turn the surrounding wilderness into coal mines.

Poor Bogota suburb wows tourists with street art

On Sundays in Ciudad Bolivar, one of Bogota's poorest neighborhoods, residents are treated to the incongruous sight of tourists riding the cable car that on weekdays transports thousands of workers to their jobs.

New post-Brexit controls: a thorn for UK horticulture

Yuccas from Spain, rhododendrons from Germany or Dutch hazelnut trees -- flowers and plants arriving at UK ports from the European Union face tougher post-Brexit border checks from Tuesday, meaning delays and extra costs for importers.

Samsung says Q1 operating profits soar nearly tenfold on-year

Samsung Electronics said Tuesday that its first-quarter operating profits had risen nearly tenfold year-on-year -- a 931.8 percent increase -- amid recovering chip prices and growing demand.

NATO chief says Ukraine can still win war despite Russian advances

NATO chief Jens Stoltenberg on Monday said it was "not too late" for Ukraine to win the war, despite its outmanned and outgunned military struggling in the face of Russian advances while waiting for stalled weapons deliveries from allies.

Mining giants Vale, BHP propose $25 bn settlement over Brazil dam collapse

Mining giants Vale and BHP have proposed paying a nearly $25 billion settlement over a 2015 dam collapse in Brazil that killed 19 people and flooded dozens of towns, Vale said Monday.

Walrus dies from bird flu on Arctic island: researcher

The first case of a walrus dying from bird flu has been detected on one of Norway's Arctic islands, a researcher said Monday.

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Arizona Tribune - Economy (English)