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Mercedes warns longer Mideast war could cause shortages

German premium automaker Mercedes-Benz warned Wednesday that a drawn-out conflict in the Middle East could cause shortages of key inputs as it reported tumbling quarterly profits due to fierce Chinese competition.

Finnish lift maker Kone acquires German rival TKE, creating giant

Finnish lift maker Kone on Wednesday announced the acquisition of its German rival TKE in a huge share-and-cash deal valuing TKE at 29.4 billion euros ($34.4 billion) to create a global giant.

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Depp-Heard trial's impact 'potentially catastrophic' for abuse survivors

The acrid US defamation trial between actors Johnny Depp and Amber Heard -- and the decision to televise it -- will have a "potentially catastrophic" impact on abuse survivors, advocates say.

10 years after 'Gangnam Style', Psy is happier than ever

Ten years after "Gangnam Style" became a global phenomenon, South Korean rapper Psy is living his best life –- proud of his "greatest trophy" and free from the pressure of repeating that unprecedented success.

Ecuadoran frogs Rocket and Harlequin taking on mining industry

On the banks of a crystalline waterfall, biologist Andrea Teran lets out a yelp.

Oil price rises even as OPEC boosts output more than expected

Oil prices rose Thursday despite an agreement by major crude producers to boost output more than expected, while US stocks rallied ahead of closely-watched employment data seen as a key input to the inflation debate.

US sues cryptocurrency exchange run by Winklevoss twins

US regulators on Thursday said they are suing the Gemini Trust cryptocurrency exchange, which is run by Cameron and Tyler Winklevoss, for giving misleading answers in 2017 about a bitcoin project.

NFT market sees first insider trading case in US

US authorities have charged a former manager at a digital exchange platform with fraud and money laundering, in what they said was the first insider trading case involving non-fungible tokens, or NFTs.

Oil price rises as OPEC backs higher output

Oil prices rose Thursday even as major crude producers agreed to boost output by more than the usual amount following an EU ban on Russian imports.

Cambridge kids step out at first Trooping the Colour

Don't upstage the queen is the unwritten rule at royal occasions. Four-year-old Prince Louis of Cambridge might not have got the memo.

OPEC backs bigger output boost amid Russian isolation

Major oil producers led by Saudi Arabia and Russia on Thursday decided to open taps wider than expected amid soaring prices and hard on the heels of an EU ban on Russian oil imports.

Eurozone markets rise as oil prices fall on production increase reports

Eurozone markets rose Thursday as oil prices fell on reports of an increase in output to make up for a Russian shortfall.

Amazon to close Kindle e-bookstore in China

US tech giant Amazon said Thursday that it will stop operating its Kindle e-bookstore in China from next year, closing the chapter on a massive consumer market.

Gunman kills four at Tulsa hospital in US mass shooting: police

A gunman has killed at least four people at a hospital building in Tulsa, Oklahoma, police said -- the latest in a string of mass shootings across the United States in recent weeks.

China to double wind, solar energy capacity by 2025

China aims to double its wind and solar capacity by 2025, according to a new road map that also allows for more coal-fired power plants to bolster energy security.

Italy's 'Motor Valley' proves fertile ground for supercars

If Tuscany has Chianti, the Italian region of Emilia-Romagna has "Motor Valley", an area that boasts one of the highest concentrations of luxury sports cars and motorbikes in the world.

US equity firm takes stake in New Zealand's All Blacks

US private equity firm Silver Lake secured a NZ$200 million (US$134 million) stake in the famed All Blacks Thursday, after New Zealand Rugby overwhelmingly endorsed a contentious deal after years of wrangling.

Asian markets drop on recession fears, output report drags oil down

Equities fell in Asia on Thursday as traders grow increasingly worried that central bank moves to rein in inflation could tip economies into recession.

US equity firm wins stake in New Zealand's All Blacks

US private equity firm Silver Lake on Thursday secured a NZ$200 million (US$134m) stake in the famed All Blacks, with New Zealand Rugby overwhelmingly endorsing the deal.

Russia braces for economic upheaval as sanctions start to bite

At his garage in the south of Moscow, 35-year-old mechanic Ivan is starting to worry.

Gunman kills four at Tulsa hospital in new US mass shooting: police

A gunman killed at least four people Wednesday at a hospital campus in Tulsa, Oklahoma, police said, the latest mass shooting to convulse America coming as Texas families bury their dead after a school massacre barely one week ago.

Biden defends his handling of spiraling US baby formula crisis

US President Joe Biden defended his handling of a spiraling baby formula supply crisis Wednesday, insisting at a meeting with infant food executives that the White House is doing all it can.

Global stocks mostly fall on inflation worries as dollar gains

European and US stocks slipped on Wednesday, while the dollar rallied as traders digested data indicating that inflation shows no sign of easing.

Unprecedented water curbs kick in for drought-hit Los Angeles

Unprecedented restrictions on water usage went into effect Wednesday in the Los Angeles area, which like most of California is in the grip of severe drought for the third consecutive year.

Sheryl Sandberg, key executive at Facebook's Meta, to step down

Meta's second most powerful executive Sheryl Sandberg made the shock announcement Wednesday she will leave after a 14-year tenure that included helping steer scandal-prone Facebook to advertising dominance.

Biden takes aim at inflation but short on weapons

US President Joe Biden has launched a battle against soaring prices as he tries to claw back waning public support ahead of key congressional elections, but is finding he has few tools to defuse sky-high inflation.

Biden meets CEOs on US baby formula crisis

US President Joe Biden on Wednesday held a baby formula summit at the White House with advisors and executives from five manufacturers to discuss ways to end a nationwide shortage of the staple infant food.

US firms fret about high prices, wages but see signs of easing: Fed

Solid growth continued across the United States, even as firms faced an ongoing struggle with a worker shortage and rising prices, although there were some tentative signs the tide may be turning, the Federal Reserve said Wednesday.

Canadian 'Instapoet' Rupi Kaur tackles censors -- on and offline

From a run-in with Instagram over a picture of menstrual blood, to a push to ban her books from American schools -- Canadian poet Rupi Kaur has knocked heads with would-be censors since bursting onto the global literary scene.

Racists trolls are not real 'Star Wars' fans: Ewan McGregor

Ewan McGregor hit back Wednesday at people targeting fellow "Star Wars" actor Moses Ingram with racist abuse, saying they are not true fans.

EU says Croatia ready to adopt euro in 2023

The European Commission said Wednesday that Croatia had met all the criteria to join the eurozone, paving the way for the country to become the single currency's 20th member on January 1.

Russia seeks to 'minimise' effects of EU oil ban, gas exports down

Russia said Wednesday it was moving to limit the damage from an EU oil ban as its other key energy export, gas, has fallen after President Vladimir Putin sent troops to Ukraine.

Women's matches less appealing than men's at French Open, says Mauresmo

French Open tournament director Amelie Mauresmo said Wednesday that women's matches had less appeal than men's at Roland Garros, an opinion dismissed as "surprising and disappointing" by world number one Iga Swiatek.

Jubilee boost then brake predicted for UK economy

Queen Elizabeth II's Platinum Jubilee should provide a boost to Britain's beleaguered retail and tourism sectors, but could also then slow the stuttering economy, analysts said on Wednesday.

Arizona Tribune - Economy (English)