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Featured

Asia's vendors grapple with rising costs of ever-present plastics

Food vendors across Asia who rely on plastics for everything from bags to cups and containers are grappling with their rising costs, the result of the energy crisis sparked by the Middle East war.

US, Iran trade strikes putting new strain on Middle East truce

Iran launched attacks on US sites in the Gulf in response to American strikes on the country, state media said Saturday, after Washington accused Tehran of attacking one of its cargo ships in the Strait of Hormuz.

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Cathay Pacific reports first half profit amid travel recovery

Hong Kong carrier Cathay Pacific on Wednesday swung to a healthy profit in the first half of the year thanks to a pick-up in travel, with the airline expecting passenger capacity to reach 70 percent of pre-pandemic levels by end of the year.

World's largest cruise ship to set sail as industry rebounds

With cruise bookings seeing a resurgence after the Covid pandemic caused luxury liners to mothball, a Finnish shipyard is putting the final touches on what will be the world's largest cruise ship.

Women wrestlers battle for equality with Swiss 'schwinger kings'

Traditional Swiss wrestling, known as "schwingen" in German, has been a male preserve for centuries -- the ultimate test of manhood for Alpine alpha males.

Asian markets struggle after more weak China data

Asian markets wavered Wednesday after data showing the first drop in Chinese consumer prices compounded worries about the world's number two economy.

China slips into deflation as post-Covid recovery falters

China slipped into deflation as consumer prices contracted last month for the first time in more than two years, official data showed Wednesday, as slowing domestic spending weighs on the country's post-Covid economic recovery.

Australia's Commonwealth Bank posts record profit as rates rise

Australia's biggest lender Commonwealth Bank reported a record annual profit Wednesday as it raked in money from customers forced to pay higher interest rates.

Everybody hurts: Los Angeles suffers as Hollywood strike hits 100 days

In his dry cleaning shop near the Warner Bros. and Disney studios, Tom Malian looks in despair at a carousel mostly empty of the shirts, jackets and pants it held before Hollywood went on strike.

ESPN signs deal to create branded US gambling sportsbook

Sports broadcaster ESPN announced Tuesday it has signed a licensing deal with Penn Entertainment to create a branded sportsbook for US audiences that will launch later this year.

Canada media seek probe of Meta's news block

Media on Tuesday asked Canada's competition watchdog to investigate Meta's blocking of news articles on Facebook and Instagram, accusing the tech giant of using its dominance to gobble up online advertising money.

Bids for Niger talks falter as coup summit looms

Efforts by West Africa's bloc ECOWAS and the United States to parlay with Niger's new rulers made no headway on Tuesday ahead of a regional summit to mull options that include military intervention.

Global stock markets slip as European banks hit

Markets fell Tuesday as concerns over the health of the US banking sector played out on Wall Street and an Italian windfall tax on lenders saw European bank shares plummet.

US trade gap narrows in June on imports pullback

The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to government data released on Tuesday.

UPS lowers 2023 forecast after Teamsters union agreement

UPS lowered its full-year outlook on Tuesday, citing the volume effects and higher costs of its recent labor negotiation as the shipping company reported a drop in quarterly profits.

European stock markets drop as banks hit

European stock markets slid Tuesday, with shares in Italian banks hit hard by the announcement of a windfall tax on lenders.

The 'forgotten' camps where Syria war displaced languish

Thousands of people displaced by 12 years of war are stuck in squalid, unofficial camps in Syria's Kurdish-held northeast, languishing in extreme poverty and largely cut off from international assistance.

Italy bank shares fall on govt's surprise windfall tax

Shares in Italian banks plunged early Tuesday after the country's right-wing cabinet approved a surprise 40 percent windfall tax on "surplus profits" generated by the rise in interest rates.

Markets drop as traders fret over another Fed hike

Stock markets mostly fell Tuesday on renewed concerns that the Federal Reserve will hike rates again, while another weak batch of trade data compounded worries about the struggling Chinese economy.

Markets struggle as traders fret over another Fed hike

Stock markets stuttered Tuesday on renewed concerns that the Federal Reserve will hike rates again, while another weak batch of trade data compounded worries about the struggling Chinese economy.

China reports biggest drop in exports since 2020

China last month suffered its biggest drop in exports for more than two years, according to official figures Tuesday, as the world's second-largest economy struggles with sluggish global demand and a domestic slowdown.

Asian markets struggle as traders fret over another Fed hike

Asian markets stuttered Tuesday on renewed concerns that the Federal Reserve will hike rates again, while ongoing worries about the Chinese economy added to the negativity.

Scouts begin S. Korea jamboree evacuation over extreme weather challenges

Tens of thousands of scouts were being evacuated from their problem-plagued South Korean campsite on Tuesday ahead of a typhoon, as the scout chief said the challenges were unprecedented in a century of global jamborees.

Paramount announces sale of Simon & Schuster for $1.62 bn

Paramount Global said Monday it had reached an agreement to sell Simon & Schuster, a top US publisher, to private equity firm KKR for $1.62 billion.

Indigenous groups call for bold steps at Amazon summit

Indigenous leaders from across South America called Monday for bold steps to protect the Amazon and their ancestral lands ahead of a summit on saving the world's biggest rainforest.

Britain begins housing migrants on docked barge

Britain on Monday began housing migrants on board a barge docked off the southwest English coast, in its latest controversial immigration policy that has drawn heavy criticism from locals and rights campaigners.

W. African bloc to meet after Niger defies coup ultimatum

West African leaders will hold a summit on the crisis in Niger this week after the country's military rulers defied an ultimatum to restore the elected government or face possible military intervention.

Stocks waver on uncertain rate outlook

Concerns about the potential for further interest rate hikes weighed on stock markets Monday even as data pointed to weakening economies in the US and Europe, though Wall Street managed to recover some of last week's heavy losses.

Paris says tough Airbnb rules 'working' as violations fall

The city of Paris said on Monday that its tough restrictions on the online accommodation service Airbnb were working, pointing to fewer violations of the code this year in the French capital but stiffer fines.

Niger awaits response after defying coup ultimatum

Niger's military rulers were on Monday in defiance of an ultimatum to restore the elected government as the threat of possible military intervention was still on the table.

European stock markets drop on weak data

European stock markets retreated Monday on further poor economic data for the region and following a mixed showing by major Asian indices.

Thousands of US sailors, Marines reach Red Sea after Iran tensions

More than 3,000 US military personnel have arrived in the Red Sea aboard two warships, as part of increased deployments after tanker seizures by Iran, the US Navy said Monday.

Asian markets fluctuate after mixed US jobs report

Asian equities swung Monday following a mixed US jobs report that left investors weighing the chances of another Federal Reserve interest rate hike.

Coup sanctions plunge Niamey into the dark

The long-suffering people of Niger's capital, Niamey, are used to intermittent power cuts. But since the coup d'etat one week ago, interminable blackouts have tested their patience to the limit.

Arizona Tribune - Economy (English)