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Hormuz ship traffic climbs after war deal: trackers

Shipping traffic through the Strait of Hormuz rose to its busiest in two months after a deal to halt the US-Iran war, maritime trackers said on Friday.

Oil edges back up, shares steady after US-Iran talks postponed

Oil prices edged back up and stock markets stabilised Friday after postponement of US-Iran peace deal talks.

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Twitter sacks half of staff as Musk launches overhaul

Twitter sacked half of its 7,500-strong staff on Friday as new owner Elon Musk launched his major overhaul of the troubled company just a week after his blockbuster takeover.

Surge in claims puts UK asylum system under pressure

Britain is struggling to cope with an increase in asylum-seekers, as numbers risking their lives to cross the Channel on small boats hit record levels.

US sees strong job gains in October as wages move higher

US job gains topped expectations in October, official data showed Friday, as hiring remained resilient and wages moved ever higher even as unemployment edged up, underscoring the challenges in lowering rampant inflation.

Twitter mass layoffs begin as Musk launches overhaul

Thousands of Twitter employees were ordered to stay home Friday to await a bracing round of layoffs that could see half of the payroll axed as new owner Elon Musk launches his major overhaul of the company.

Raisi dismisses Biden 'free Iran' pledge after protest surge

Iranian President Ebrahim Raisi on Friday dismissed a pledge from US leader Joe Biden to "free Iran" as the clerical regime faced a new upsurge in protests seven weeks into the anti-regime movement.

Heathrow Airport strike set to hit England football fans

England football fans flying to the World Cup in Qatar face delays and cancellations after staff at Heathrow Airport on Friday announced a three-day strike in a dispute over pay.

EU approves preventative treatment for common infant virus

The European Union has approved a preventative treatment for the very common virus that causes the chest infection bronchiolitis in infants, the companies that developed the drug said Friday.

Red Bull names trio to run firm after founder's death

Red Bull named on Friday a board of three directors to lead the energy drink giant following the death of Austrian founder Dietrich Mateschitz.

'God spared us': Fleeing occupation by dinghy under Russian fire

The tractor driver and the nurse who became his wife during the war think they must have helped 2,200 villagers cross a river under Russian shelling to Ukrainian-held land.

Indonesia leader says Putin undecided on G20 summit invite: report

Russian President Vladimir Putin has still not decided if he will attend the Group of 20 leaders' summit this month as war rages in Ukraine, the leader of host nation Indonesia said in an interview Friday.

Solar power, farming revive Tunisia school as social enterprise

Most Tunisian schools are cash-strapped and run down, but an innovative project has allowed one to become self-sustaining by generating its own solar power and growing its own food.

Most Asian markets rise as China hopes boost Hong Kong

Most Asian markets rose Friday after the previous day's Federal Reserve-induced sell-off, with Hong Kong leading the way with another big rally fuelled by hopes China will roll back some of its painful zero-Covid policies.

Most Asian markets rise, dollar holds gains ahead of US jobs data

Most Asian investors tentatively stepped back into the markets Friday after the previous day's Federal Reserve-induced sell-off, while the dollar held gains as focus turned to the release of key US jobs data.

Twitter says layoffs to begin Friday

Twitter said it will start laying off employees on Friday, as the new billionaire owner Elon Musk moves quickly after his big takeover to make the messaging platform financially sound.

Canada sees lower deficit in updated fiscal plan, possible 2023 recession

Canada's government announced modest new spending in an updated fiscal plan Thursday, as windfall revenues allow it to slash its budget deficit ahead of a possible economic downturn.

Starbucks reports record sales but lower profits on weak China

Starbucks reported record quarterly revenues Thursday behind a strong US performance, but weak China results and increased expenses pinched profits.

Pound sinks, stocks mostly fall after latest central bank rate moves

The pound tumbled against the dollar and global stocks mostly fell Thursday as the Bank of England announced another jumbo-sized interest rate hike while warning of a prolonged recession expected to last through mid-2024.

Italy's far-right PM hails 'frank' talks in Brussels

Italy's far-right Prime Minister Giorgia Meloni hailed "very fank and very positive" talks with EU chiefs in Brussels on her first international trip since taking power.

At Web Summit, 'Bored Apes' emerge from swamp but remain murky

With a blast of "Break on Through" by The Doors and a flashy video of cartoon apes careening around a fantasy landscape, the boss of one of crypto's most secretive companies took to the stage on Thursday.

US authorities relax regulations on prescription opioids

US health officials issued new recommendations Thursday to relax restrictions for doctors prescribing opioids for pain, despite the risk of addiction.

Bank of England warns UK may face two-year recession, hikes rate

The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession that risks lasting until mid-2024.

Thousands rally in Spanish capital for pay hikes as costs soar

Thousands of people took to the streets of Spain's capital on Thursday to demand higher pay to cope with soaring inflation and energy costs.

Red Cross eyes digital emblem for cyberspace protection

When Red Cross staff work in conflict zones, their recognisable red-on-white emblems signal they and those they are helping should not be targeted.

New protests erupt as Iranians mourn crackdown victims

Major new protests erupted in Iran on Thursday as people mourned victims of a deadly crackdown by the authorities seeking to quell over six weeks of demonstrations that have shaken its leadership.

Canada trade surplus doubles as wheat shipments rebound

Canada's trade surplus doubled to Can$1.1 billion (US$800 million) in September from the previous month as wheat shipments rebounded strongly, the national statistical agency said Thursday.

US trade deficit widens in September as imports rise

The US trade gap widened in September after five straight months of decline, government data showed Thursday, on cooling food and energy exports while imports of products like semiconductors and consumer goods picked up.

Guinea junta gives order to prosecute ex-president Conde

Guinea's ruling junta on Thursday ordered prosecutors to take legal action against former president Alpha Conde, whom it overthrew in a 2021 coup, and more than 180 other officials and ex-ministers, notably for alleged corruption.

Stock markets sink, dollar jumps

Stock markets around the world sank Thursday while the dollar rallied after the Federal Reserve warned US interest rates would go higher than previously expected in its fight against decades-high inflation.

Bank of England warns UK faces two-year recession, hikes rate

The Bank of England on Thursday announced its biggest interest rate hike since 1989 to combat sky-high inflation that it warned was pushing Britain into a recession set to last until mid-2024.

NGO asks France, Spain, Greece to help 234 Mediterranean migrants

Migrant rescue group SOS Mediterranee said Thursday that it had called on the governments of France, Greece and Spain to help find a port for 234 people rescued while trying to reach Europe, after Italy and Malta failed to respond.

Bank of England delivers biggest rate hike in 33 years

The Bank of England delivered Thursday its biggest interest rate hike since 1989 to combat soaring inflation and warned that Britain faced a recession set to last until mid-2024.

iPhone factory lockdown shows risks of China dependence, analysts say

The lockdown of Foxconn's Zhengzhou factory, the world's biggest producer of iPhones, has highlighted some of the risks of relying on zero-Covid China's manufacturing sector, analysts told AFP.

Arizona Tribune - Economy (English)