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Stocks diverge as rate hopes rise, AI fears ease

Stock markets diverged Monday and gold hit a record high as the latest round of US data boosted hopes for more interest rate cuts and concerns over AI spending subsided.

Swiss court to hear landmark climate case against cement giant

A Swiss court has decided to hear a landmark climate case pitting residents of a tiny Indonesian island being swallowed by rising sea levels against cement giant Holcim, NGOs helping the islanders said Monday.

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Bankrupt Sri Lanka seeks urgent help to feed children

Sri Lanka issued an urgent appeal on Monday to tackle rapidly spreading malnutrition among children as its economic crisis leaves nine out of 10 people dependent on state handouts.

Yamashita becomes Japan's first woman pro referee

Yoshimi Yamashita became Japan's first woman professional football referee on Monday and said she was happy to "make a splash" as she prepares to create history at the World Cup.

Japan's top airline ANA reports first net profit in 10 quarters

Japan's biggest airline ANA on Monday posted a quarterly net profit for the first time in two and a half years as the sector recovers from the financial pain of the pandemic.

Asian markets rise as traders weigh rates outlook, China data

Asian markets mostly rose Monday and oil fell as investors brushed off both weak data from China and comments indicating the Federal Reserve is wedded to its anti-inflation rate hike campaign.

HSBC H1 pre-tax profit falls, says to pay quarterly dividends

HSBC on Monday said pre-tax profit fell in the first half of 2022 but it intends to resume quarterly dividends next year as its annual outlook remained positive.

Syria's last traditional boat-makers keep ancient craft afloat

Khaled Bahlawan hammers nails into a traditional wooden boat he built by hand, toiling under the scorching sun on Syria's Mediterranean coast to preserve a disappearing ancient skill.

Alibaba shares extend losses on US delisting fear

Chinese e-commerce giant Alibaba led technology stocks lower in Hong Kong on Monday after US authorities put it on a watchlist that could see it delisted in New York if it does not comply with disclosure orders.

Unit of Chinese property giant Evergrande ordered to pay $1.1 billion

A unit of embattled Chinese developer Evergrande has failed to repay its loans and must pay a guarantor $1.1 billion, the company said in a Hong Kong stock exchange filing.

Asian markets mixed as traders weigh rates outlook, China data

Asian markets were mixed Monday and oil fell as investors assessed data showing further weakness in China's economy and comments from Federal Reserve officials showing it was wedded to its campaign of interest rate hikes to fight inflation.

Russia says drone attack hits Crimea navy HQ

Russia said an attack from a drone Sunday wounded six personnel at the headquarters of its Black Sea fleet in annexed Crimea, as authorities in Ukraine's southern city of Mykolaiv reported it had suffered its "strongest" shelling of the war.

Bin Laden family donated £1m to Prince Charles charity: report

Prince Charles, the heir to the British throne, accepted a £1 million ($1.19 million, 1.21 million euro) donation to his charitable trust from the family of 9/11 mastermind Osama bin Laden, The Sunday Times reported.

Sri Lanka president seeks unity government to save economy

Sri Lanka's new president Ranil Wickremesinghe has formally invited MPs to join an all-party unity government to revive the bankrupt economy by undertaking painful reforms, his office said Sunday.

China's July factory activity weakens on soft demand

China's manufacturing activity logged a surprise drop in July, official data showed Sunday, on the back of weak demand and as strict zero-Covid restrictions continue to cast a pall on growth.

Crypto clients beg for their cash back after lender's crash

An Irishman at risk of losing his farm. An American having suicidal thoughts. An 84-year-old widow's lost life savings: People caught in the meltdown of crypto lender Celsius are pleading for their money back.

Pro-democracy petition garners 500,000 signatures in Brazil

More than half a million people have signed a petition in "defense of democracy" in Brazil in response to President Jair Bolsonaro's attacks on public institutions and the electoral system.

Zelensky urges evacuation of Ukraine's frontline Donetsk

Ukraine's president urged civilians on Saturday to evacuate the frontline Donetsk region, the scene of fierce clashes with the Russian military, as Kyiv called on the Red Cross and UN to gain access to its soldiers being held by Moscow's forces.

Formula One launches 'Drive It Out' campaign against abusive behaviour

Formula One on Saturday launched the 'Drive It Out' campaign against abusive behaviour online on social media and at Grands Prix.

With new 'super minister,' Argentina seeks political fix to economic woes

Argentine President Alberto Fernandez is looking for a political solution to the country's economic crisis with his appointment of a long-term politician as a new "super minister," analysts say.

Broken homes: Ukrainians in east begin daunting rebuild

Galyna Kios had been surviving with family and neighbours in her gloomy basement, cooking on a makeshift wood-fired stove, when the Russians came.

LGBTQ community confronts 'excruciating' monkeypox -- and its stigma

The spread of the monkeypox virus and its prevalence among gay men has raised widespread fear, growing anger and a number of uncomfortable questions for a community still scarred by the early years of the HIV/AIDS epidemic.

Pilgrimage over, but long journey ahead: Pope ends penitent Canada trip

Pope Francis ended his trip to Canada Friday as he began -- by apologizing to Indigenous survivors of Catholic-run schools where for decades children were abused, after meeting with Inuit people in the Canadian Arctic.

Pope apologizes to Inuit for abuse on last leg of penitential Canada trip

Pope Francis ended his trip to Canada Friday as he began, by apologizing to Indigenous survivors of Catholic-run schools where children were abused over a span of decades, after meeting with Inuit people in the Canadian Arctic.

Pope meets Inuit in Arctic for last leg of penitential Canada trip

Pope Francis flew to the Canadian Arctic Friday to meet Inuit survivors of Catholic-run schools where Indigenous children were abused over a span of decades, in the final stop of a landmark tour apologizing for the Church's role.

Profits at ExxonMobil, Chevron skyrocket with oil prices

US oil giants ExxonMobil and Chevron -- targets of White House criticism over soaring gasoline costs -- reported record quarterly profits Friday amid the war in Ukraine that sparked a steep rise in energy prices.

Pope headed to Arctic for last leg of penitential Canada trip

Pope Francis on Friday was to fly to Nunavut, the territory that covers most of the Canadian Arctic, on his final stop in a landmark tour apologizing for the abuse of Indigenous children in Catholic-run schools.

US prices accelerate in June, outpacing income gains

A key US inflation measure accelerated again in June, outpacing gains in income, government data showed Friday, heaping pressure on President Joe Biden and policymakers trying to ease the pain for American families.

Price hikes boost P&G profits despite lower China sales

Higher prices helped Procter & Gamble score increased quarterly profits despite a hit to China sales, and executives on Friday described inflation as having a relatively limited impact thus far on demand.

World Bank refuses new funding for bankrupt Sri Lanka

The World Bank said Friday it would not offer new funding to Sri Lanka unless the bankrupt island nation carried out "deep structural reforms" to stabilise its crashing economy.

Venezuela's Maduro regime loses latest step of UK gold case

Opposition leader Juan Guaido's rival Venezuelan government said Friday it was a step closer to taking control of the oil-rich country's gold reserves, after the latest judgment by a UK court.

ExxonMobil profits surge to $17.9 bn on lofty commodity prices

ExxonMobil's profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil and natural gas prices amid commodity market tightness.

Bahrain latest to ban block-buster Thor

Gulf state Bahrain has joined other Middle Eastern countries in imposing a cinema ban on the fourth instalment of superhero saga Thor, a Hollywood blockbuster featuring gay characters.

European stocks end week higher on growth hopes

European stock markets rose robustly on Friday as official data showed eurozone growth holding up in the face of soaring inflation.

Arizona Tribune - Economy (English)