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Featured

South Korea to invest nearly $1.2 tn in chips, AI data centres

South Korea will invest nearly $1.2 trillion -- equivalent to more than two-thirds of its GDP -- in a new chip-building hub and AI data centres over several years, as it seeks to profit from soaring demand while developing previously neglected regions.

Stocks mixed and oil rises as US, Iran call end to latest attacks

Asian stocks were mixed and oil prices edged up as reports said the United States and Iran had agreed to stop attacking each other following a weekend of strikes that threw their fragile truce into question.

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Nigeria's Tinubu announces measures to offset rising costs

Nigeria's President Bola Ahmed Tinubu on Sunday proposed a temporary minimum wage hike for lower-paid workers, cheap gas-powered public transport and more social security for the poor to help offset the impact of his economic reforms.

In face of corporate behemoths, an indie music festival thrives

Back in 2006, Spotify was a nascent start-up, your average stateside concert tickets went for $40 and many fans learned about the best new music from blogs like All Things Go.

Threats and violence as Turks feud over soaring rents

Cengiz Orsel hung a banner above his woodcarving workshop in Ankara so that everyone would know the astronomical rent increase his landlord is demanding.

Sexual wellbeing industry revels in swelling sales

From creams and oils promising to take the user to seventh heaven to multi-sensory vibration devices and erotic lingerie, the sex accessory market has become more feminine over the years, even feminist.

California's green drive leaves its oil towns behind

Fred Holmes watches with satisfaction as pumps pull oil from deep under his California farm, tapping a supply he thinks could last another century.

India's private space sector skyrockets

When Indian entrepreneur Awais Ahmed founded his satellite startup in Bangalore in 2019, his country was still a year away from opening the space industry to the private sector.

Last-gasp drama moves US away from government shutdown

Last-gasp moves to prevent a US government shutdown took a dramatic step forward Saturday, as Democrats overwhelmingly backed an eleventh-hour Republican measure to keep federal funding going for 45 days, albeit with a freeze on aid to Ukraine.

US government hours from shutdown, as lawmakers scrabble for solutions

With the US government just hours from shutting down on Saturday, Republican Speaker Kevin McCarthy pitched a last-gasp stopgap measure to avoid a closure that would throw into doubt everything from access to national parks to Washington's massive support for Ukraine.

US government hours from shutdown, as lawmakers try last-ditch solutions

The US government was just hours from shutting down on Saturday as Republicans and Democrats pursued rival stopgap measures to prevent a closure that would throw into doubt everything from access to national parks to Washington's massive support for Ukraine.

As rain vanishes, Guatemalans learn to use every drop of water

As rain becomes ever scarcer in northern Guatemala, communities are learning how to carve out makeshift irrigation canals and purify their water to conserve every last precious drop.

Injuries in Scotland rail crash, Flying Scotsman involved

Several people were injured after two trains, one of which was the storied Flying Scotsman, collided at Aviemore railway station in the Highlands of Scotland on Friday, police said.

Global stocks mixed ahead of looming US government shutdown

Global stocks ended mixed Friday on signs of slowing inflation on both sides of the Atlantic, ahead of an impending government shutdown in the United States.

NFL reinstates two after changes to league gambling policy

The NFL announced tougher penalties on Friday for players who bet on NFL games but reduced sanctions for those who bet on other sports while in the workplace or working.

Malta summit urges EU to stop migration at source

The leaders of nine Mediterranean and southern European countries called Friday for a "significant increase" in the EU's efforts to tackle the thorny issue of migration at its roots, in origin and transit countries.

Stocks get a boost as inflation pressures ease in US, Europe

Stocks advanced on most European and US markets Friday on signs of slowing inflation on both sides of the Atlantic, rekindling hopes that central bankers will hold back on further interest rate increases that could crimp economic growth.

Stocks rally as inflation pressures ease in US, Europe

Stock markets posted solid gains in Europe and the US on Friday on signs that inflation is slowing on both sides of the Atlantic, rekindling hopes that central bankers will hold back on further interest rate increases that could weigh on economic growth.

Key US inflation measure ticks up in August

The key US inflation measure used by the Federal Reserve to set interest rates ticked up again in August, fueled by rising energy prices, according to government data published Friday.

Spain court shelves probe into John McAfee prison death

A Spanish court has closed a probe into the death of software mogul John McAfee at a prison near Barcelona in 2021, ruling he committed suicide, court documents showed Friday.

European stocks rally as inflation fears ease

European stock markets rose Friday as news of eurozone inflation easing to the lowest rate in nearly two years helped to offset worries about high oil prices.

VinFast share volatility 'normal': chief executive

The dramatic fluctuation in shares of Vietnamese electric vehicle maker VinFast is "normal", its chief executive told AFP on Friday, insisting the company was on sound footing despite racking up huge losses.

Eurozone inflation falls to nearly two-year low

Eurozone inflation dropped to an almost two-year low in September, official data showed Friday, raising hopes that the European Central Bank will end its rate-hiking cycle.

Millions travel across China as national holiday kicks off

Chinese travellers thronged transport networks Friday as an eight-day national holiday kicked off, the first October break since the end of the strict zero-Covid policies that separated families and hammered the tourism industry.

Philippines vows to remove future barriers at disputed reef

The Philippine Coast Guard vowed Friday to "do whatever it takes" to remove any more floating barriers installed by China at a disputed reef in the South China Sea.

French billionaire investigated in money laundering probe

French billionaire Bernard Arnault and Russian oligarch Nikolai Sarkisov are under investigation for alleged money laundering at a luxury Alpine resort, according to Paris prosecutors.

Lebanese children 'miss out' on education as crisis takes toll

Rana Hariri doesn't know when she'll be able to send her children back to school, as Lebanon's grinding economic crisis thrusts the fate of public education into uncertainty.

Sam Bankman-Fried, the fallen wunderkind of cryptocurrency

He was the face of cryptocurrency, and a young one at that -- a media darling seemingly destined to unite the sector.

'They put a price on everything': extortion hits Mexican economy

Plots of land lie empty among lime and banana plantations in one of Mexico's most violent regions -- abandoned by their owners due to widespread extortion squeezing Latin America's second-largest economy.

US anti-discrimination agency sues Tesla over 'pervasive' racism

A federal anti-discrimination agency filed a lawsuit Thursday accusing Elon Musk's Tesla of allowing "pervasive" racism at its Silicon Valley car plant and retaliating against Black workers who opposed such abuse.

NY judge says pay raise for delivery workers can go ahead

Three big companies in the gig economy -- Uber, Doordash and Grubhub -- lost a court battle Thursday in New York after a judge upheld a new minimum wage for app-based food delivery workers who became essential during the pandemic.

Fortnite maker Epic Games tightens belt with layoffs

Epic Games, maker of the highly popular Fortnite video game, said Thursday it is cutting its workforce to save money but will continue spending on its legal battle over Apple and Google app stores.

Mineral-hungry clean tech sees countries seeking to escape China's shadow

With a clean energy transition hungry for more minerals, representatives from dozens of countries and industry met in Paris on Thursday looking to shore up deliveries against supply chain snarls and geopolitical tensions.

Sweden's Northvolt says to build major EV battery plant in Canada

Swedish-based Northvolt on Thursday unveiled plans to build its first electric vehicle lithium-ion battery gigafactory in North America, just outside of Montreal.

Arizona Tribune - Economy (English)