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Featured

US Fed raises rates to tackle 'too high' inflation, irking Trump

The US Federal Reserve on Wednesday raised interest rates for the first time since 2023, defying President Donald Trump's demand for cuts, as central bank chief Kevin Warsh stressed the need to combat inflation that has been "too high" for "too long."

US stocks fall, dollar gains after Fed lifts interest rates

Wall Street stocks fell while the dollar advanced Wednesday after the Federal Reserve lifted interest rates for the first time since 2023.

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Zara owner Inditex posts record profit

Zara owner Inditex, the world's biggest fashion retailer, reported record profits for 2022 despite halting operations in Russia and soaring global inflation.

Worry, mistrust meet plans to secure waste from Niger uranium mine

Towering mounds dot the desert landscape in northern Niger's Arlit region, but there is little natural about them -- they are heaps of partially radioactive waste left from four decades of operations at one of the world's biggest uranium mines.

China retail sales up in New Year after Covid reopening

Chinese retail sales rebounded in January and February as Beijing abandoned its suffocating zero-Covid policy, reopening borders and ending mandatory quarantine, and the country celebrated the Lunar New Year holiday.

Strike grips Sri Lanka as unions protest IMF bailout

Bankrupt Sri Lanka's hospitals were crippled and transport disrupted on Wednesday as trade unions protested against the doubling of taxes to qualify for a crucial IMF bailout.

Asian markets rally as bank worries ebb, Fed rates back in view

Asian markets bounced Wednesday as concerns about contagion from the collapse of two US regional lenders eased while investors turned their attention back to next week's Federal Reserve interest rate decision.

Tesla's arrival accelerates Mexico 'nearshoring' boom

Governor Samuel Garcia is a man in a hurry, juggling his daughter's birth and Tesla's arrival in northern Mexico, which hopes to benefit from a new wave of foreign investment.

Last-gasp strikes seek to prevent French pension reform

France faces another day of strikes on Wednesday over highly contested pension reforms which President Emmanuel Macron appears on the verge of pushing through despite months of protests.

Hunger, thirst stunting Indigenous children in Colombian desert

After a grueling jeep trip of almost 24 hours on mostly desert roads, two-year-old Rosalinda arrived at the clinic in Uribia, northern Colombia, just in time.

US stocks rebound as bank shares rally, while oil prices tumble

US and European stock markets rebounded on Tuesday amid easing worries over bank industry turmoil, while oil prices fell sharply on recession risks.

Brazil footballers say they fell victim to crypto scam

Three Brazilian footballers, including Nottingham Forest midfielder Gustavo Scarpa, say they have fallen victim to a multi-million-dollar cryptocurrency scam, according to local media reports.

Saudia, startup Riyadh Air announce big Boeing 787 order

Two Saudi airlines will purchase 78 Boeing 787 Dreamliner planes under agreements announced Tuesday in a giant order that underlines Saudi Arabia's goal to remake itself as a global aviation hub.

Meta axes another 10,000 jobs in new round of cuts

Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company's "year of efficiency" as the US tech sector continues to downsize.

ChatGPT gets more 'human' as AI wave continues

The company behind the ChatGPT app that churns out essays, poems or computing code on command released Tuesday a long-awaited update of its artificial intelligence (AI) technology that it said would be safer and more accurate than its predecessor.

Putin to hold talks with Syria's Assad on Wednesday: Kremlin

Russian President Vladimir Putin will hold talks with Syria's leader Bashar al-Assad in Moscow on Wednesday, the Kremlin said, as relations between Middle East states undergo a realignment.

City of blight: Paris visitors alarmed at trash strike

Portuguese tourist Fabio Figueirado wanted to admire beautiful buildings on a romantic getaway in Paris, but instead he and his girlfriend have found themselves navigating pavements piled high with garbage.

Riyadh Air, Saudia announce big Boeing 787 order

Riyadh Air and Saudia will purchase 78 Boeing 787 Dreamliner planes under agreements announced Tuesday in a giant order that underlines Saudi Arabia's goal to remake itself as a global aviation hub.

New research claims Leonardo da Vinci was son of a slave

Leonardo da Vinci, the painter of the "Mona Lisa" and a symbol of the Renaissance, was only half-Italian, his mother a slave from the Caucasus, new research revealed on Tuesday.

Worker struggles with gig economy giants

In the battle between workers and gig economy giants, Uber notched up a rare win Monday when a court in California upheld a state law letting the company treat its drivers as independent contractors rather than employees.

Stocks rebound as cooling inflation offsets bank fears

US and European stock markets rebounded on Tuesday as easing inflation data in the United States offset fears over the health of the banking system.

Meta axes 10,000 jobs in new round of cuts

Facebook owner Meta announced a fresh wave of job cuts on Tuesday, part of what CEO Mark Zuckerberg called the company's "year of efficiency" as the US tech sector continues to downsize.

US consumer inflation still elevated as Fed comes under stress

US consumer inflation remained elevated in February, according to government data released Tuesday, adding pressure to the Federal Reserve as it balances its fight to lower prices with financial stability concerns.

Crypto market resilient after collapse of SVB bank

As the Federal Reserve seeks to calm financial markets following the collapse of Silicon Valley Bank, the cryptocurrency market is showing signs of resilience despite links to the crisis.

Novo Nordisk to cut US insulin prices by up to 75%

Novo Nordisk announced Tuesday that it will lower the US price of insulin by up to 75 percent, the latest move by a drugmaker to mitigate diabetes treatment costs.

US consumer inflation still elevated but Fed under stress

US consumer inflation edged down in February but remains elevated, according to government data released Tuesday, adding pressure to the Federal Reserve as it balances its inflation fight with financial stability concerns.

US banking crisis dogs markets

Stock markets sank further in Asia and faltered in Europe on Tuesday, with banks sliding again on contagion fear after the collapse of two regional US lenders.

Art auctions hit record in 2022 despite economic gloom

More than a million artworks were put up for auction for the first time in 2022 despite a gloomy global economy, according to a report released on Tuesday.

Embattled Credit Suisse admits 'material weaknesses'

Credit Suisse acknowledged Tuesday "material weaknesses" in its internal controls as the scandal-hit Swiss bank released its annual report, which was delayed following queries from US regulators regarding its books.

SVB collapse causes headaches for US Fed before rate decision

The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected.

Steam cuisine: cooking in Japan's hot springs

Using geothermal resources to generate electricity is a divisive prospect in Japan, but there is little disagreement about another use for it: natural steam for cooking.

Sky-high UK childcare costs hit women's careers

Increased childcare funding is expected to feature in the UK government's budget this week, in a bid to ease pressure on families and particularly women.

Asian markets sink as SVB contagion fears hit banking sector

Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.

Regret and blame in Silicon Valley after bank run

The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most.

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Arizona Tribune - Economy (English)