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IMF director says Iran war fallout creating 'difficult moment' for Africa

The International Monetary Fund's Africa director on Monday warned that the economic fallout of the Iran war was creating a "difficult moment" for the region, and that it would take months for Gulf energy production to ramp back up.

Alan Greenspan: longtime Fed chief with a divided legacy

Alan Greenspan, the longtime US Federal Reserve chief who presided over an unprecedented period of American economic expansion but was later faulted for failing to rein in markets ahead of the 2008 global financial crisis, has died.

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Credit Suisse shares sink after biggest loss since 2008 financial crisis

Credit Suisse stocks plunged nearly 15 percent on Thursday as the scandal-plagued Swiss banking giant posted its biggest annual loss since the 2008 financial crisis -- and warned it expects to stay in the red in 2023.

World Bank revamp to start by April on push to broaden mission: Yellen

The first stages of a World Bank revamp are set to begin by April, amid a push for lenders to evolve and meet global challenges like climate change, US Treasury Secretary Janet Yellen said Thursday.

Tourism collapses in Russia following Western sanctions

The number of foreign tourists visiting Russia collapsed last year due to the impact of Western sanctions imposed on the country following its military operation in Ukraine and strict Covid restrictions in China, industry professionals said Thursday.

Legendary songwriter Burt Bacharach dead at 94

Legendary American pop composer Burt Bacharach, whose prolific output provided a chart-topping playlist for the 1960s and 70s with hits like "I Say a Little Prayer," has died in Los Angeles aged 94, US media said Thursday.

Church of England backs blessings for same-sex couples

The Church of England's governing body on Thursday endorsed plans to let priests offer blessings to same-sex couples, after hours of acrimonious debate highlighted deep Anglican divisions on the issue.

Milan's La Scala launches TV channel

Milan's 245-year-old La Scala entered the digital age Thursday, launching its own TV channel that will broadcast live operas, ballets and concerts, and allow people to re-watch shows from their sofa.

Adani's links to foreign firms

The troubled business empire of Indian tycoon Gautam Adani has links to foreign firms in a broad range of sectors including banking, energy and food.

In northern Nigeria, fuel, cash crisis taints election campaign

It was just after dawn and tempers were fraying outside the First Bank in the northern Nigerian town of Kano, where scores of customers jostled to get on a waiting list to withdraw money.

Nissan keeps annual profit forecasts, cuts unit sales target

Nissan maintained its full-year profit forecasts on Thursday, saying chip shortages and other Covid disruptions would hit sales volumes but that it would fight back through "strict financial discipline".

Unilever enjoys strong 2022 on higher prices

British consumer goods group Unilever said Thursday that 2022 profits soared as sales of its food and hygiene products leapt on higher prices fuelled by inflationary pressures.

Credit Suisse posts biggest loss since 2008 financial crisis

Credit Suisse on Thursday posted its biggest annual loss since the 2008 financial crisis and the scandal-plagued Swiss banking giant expects to fall deeper into the red in 2023.

Cuban worker exodus a 'catastrophe' for island's businesses

Like other businesses across Cuba, Nel Paradiso is grappling with a worker shortage amid unprecedented levels of people fleeing the island nation.

Toyota keeps profit forecasts despite supply chain headwinds

Japan's Toyota left its annual forecasts unchanged on Thursday despite ongoing disruption from the global chip shortage, as the cheaper yen offsets the impact of soaring materials prices.

MSCI review puts India's Adani shares back in the red

Global stock index compiler MSCI said it was reviewing the status of equities in India's Adani Group on Thursday, ending a brief rally for the troubled conglomerate, as it fends off allegations of market manipulation.

Toyota third-quarter net profit drops but keeps full-year forecasts

Japan's Toyota said Thursday its net profit for the third quarter fell eight percent, but it left its full-year forecasts unchanged as the cheaper yen offsets the impact of soaring materials prices.

'I shouted their names': the hole left by Nigeria's disappeared

It was only when she scrambled to the top of the mountain after fleeing the army attack on her village that Hafsatu Usman realised she had lost three of her children.

Markets fall as Fed warns rates to go higher for longer

Markets mostly fell Thursday on the prospect of US interest rates going higher, and for longer, as officials try to cool the economy and bring decades-high inflation under control.

Twitter service stumbles as paying users get more room

Thousands of Twitter users on Wednesday reported problems using the platform as the Elon Musk-owned social network began letting paying users post tweets as long as 4,000 characters.

'Good policy' for EU to match US green plan with own subsidies: Yellen

US Treasury Secretary Janet Yellen on Wednesday encouraged the idea of green subsidies by the European Union to offset feared harm from a vast US climate plan -- arguing there is enough business for all to benefit from the clean energy transition.

Peru reopens train service to Machu Picchu

Train services to Peru's historic Machu Picchu partially resumed on Wednesday following nearly three weeks of suspension caused by anti-government protests.

Yellen says 'good policy' for EU to match US green plan with own subsidies

Disney lays off 7,000 as streaming subscribers decline

Entertainment giant Disney said Wednesday it was laying off 7,000 employees, in CEO Bob Iger's first major decision since he was asked back to lead the company late last year.

Greek MPs bar jailed neo-Nazi from leading new party in election

Greece's parliament on Wednesday approved a law barring the jailed ex-spokesman of neo-Nazi party Golden Dawn from heading a new nationalist party in upcoming national elections.

White House rejects report that US was behind Nord Stream sabotage

The White House flatly rejected Wednesday a new report by veteran investigative journalist Seymour Hersh that the US was behind the sabotage of the Nord Stream gas pipelines last year.

Two children killed after 'deliberate' bus crash into Quebec day care

Two children were killed when a bus rammed into a day care center near Montreal on Wednesday, with the driver arrested on suspicion of homicide over what police believe was a deliberate act.

UN aviation body sees recovery to pre-pandemic air travel in 2023

Demand for commercial travel is expected to make a full recovery in 2023, with volumes exceeding the 2019 level at the end of the year, a UN aviation body said Wednesday.

Two children killed, driver arrested as bus crashes into Quebec day care

At least two children were killed after a bus crashed into a day care center near Montreal on Wednesday, police said, with the driver arrested for homicide and eyewitnesses suggesting he may have acted deliberately.

Stocks diverge as tech stocks dip

Stock markets wavered on Wednesday, with tech shares falling and investors digesting President Joe Biden's calls for tax hikes and the latest interest rate signals from US Federal Reserve chief Jerome Powell.

Anglican church holds fiery debate over same-sex marriage

The Church of England on Wednesday debated contentious plans allowing priests to offer blessings to same-sex couples, amid deep Anglican divisions over the issue in Britain and beyond.

Google strikes back in AI battle with Microsoft

Google on Wednesday announced a slew of features powered by Artificial Intelligence (AI) as it ramped up a battle with Microsoft to maintain its dominance of the web search industry.

Microsoft's Activision takeover bid dealt setback in UK

Microsoft's planned $69-billion takeover of video game giant Activision Blizzard could significantly harm competition and consumer choice, UK regulators concluded in provisional findings Wednesday.

Energy majors look for mega profits to roll on

The world's top oil and gas companies amassed record profits last year after Russia's invasion of Ukraine drove prices higher -- and they can expect the good times to roll on despite calls to tax them more.

Arizona Tribune - Economy (English)