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Featured

'In our lane': Fed's Warsh defies Trump but still fighting for credibility

US Federal Reserve chair Kevin Warsh delivered the interest rate hike this week that many economists think surging inflation required, defying President Donald Trump -- but questions about the central bank chief's credibility linger.

GM delivers first components for US interceptor missiles

General Motors has delivered its first components for Lockheed Martin interceptor missiles as the defense contractor boosts production to rebuild US stocks in the middle of the Iran war and to meet international demand, Lockheed said Thursday.

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World food prices hit record high in 2022

World food prices fell for a ninth month in a row in December but hit their highest level on record for the full year in 2022, UN data showed Friday.

Stocks mostly rise ahead of key US jobs data

Stock markets mostly advanced Friday as traders awaited key US jobs data and after news of falling inflation in the eurozone.

Pakistan imports threatened as forex reserves hit eight-year low

Pakistan's central bank forex reserves have plunged to an eight-year low of $5.6 billion, posing a serious challenge for the country in financing imports.

Germany's BioNTech plans UK trial of mRNA cancer therapy

German pharmaceutical company BioNTech, which developed a trailblazing Covid-19 vaccine, will trial a cancer treatment in Britain using the same mRNA technology, the company said on Friday.

Asian markets mixed after healthy start to the new year

Asian investors struggled Friday to maintain the week's positive momentum as they eyed sharp losses on Wall Street that came after forecast-beating jobs data suggested the Federal Reserve would have to keep lifting interest rates.

More political storms for TikTok after US government ban

TikTok faces an uncertain year ahead in the United States as anti-China Republicans take greater control in Congress demanding tighter scrutiny for the highly popular video sharing app.

Hong Kongers await border reopening with mixed feelings

Shanghai engineer Roy Wang has a pressing task now that the border between Hong Kong and the Chinese mainland is being reopened -- rekindling his long-distance relationship after a painful separation.

Tensions at Turkey funerals of Kurds killed in Paris

Security forces fired teargas and rubber bullets in eastern Turkey on Thursday outside the funeral of a Kurdish singer killed in Paris in December, an AFP correspondent said, as fellow victims were laid to rest elsewhere.

'No future': Eritrean seeking UK asylum fears deportation to Rwanda

At just 23, Hayat fears her long quest for a new life in Britain will come to nothing and she will be sent to Rwanda.

Biden tells illegal migrants to keep out -- but opens door to others

President Joe Biden on Thursday warned undocumented migrants to stay away from the US border while opening the door to limited legal arrivals from four impoverished countries, in a delicate balancing act on one of the country's most explosive political issues.

Six women in Peru embark on transoceanic voyage on paddle board

Six women are attempting to paddle 8,000 kilometers (5,000 miles) across the Pacific Ocean to raise awareness about how sport can help cancer patients overcome emotional distress.

Digging for gold inside an Epiphany cake

It is a gift fit for a king, or three: a gold coin slipped by a Belgian baker inside a traditional flaky Epiphany Three Kings cake baked to perfection.

Paris museum numbers recover but still hit by pandemic

With Asian visitors still largely absent, major Paris museums struggled to regain pre-pandemic numbers in 2022, despite a huge recovery from the previous year, official figures showed on Thursday.

Top UK bosses earn average person's annual wage in days: survey

Britain's top bosses earned more in the first few days of 2023 than most ordinary workers will all year, a study showed Thursday, as many grapple with a cost-of-living crisis.

US private hiring rose in December as labor market remains strong

Hiring in the United States jumped in December with a boost from service industries, although salary growth slowed, payroll firm ADP said Thursday.

US trade deficit narrows to smallest since late 2020

The US trade deficit narrowed more than anticipated in November on a fall in imports, government figures showed on Thursday, with drops seen in pharmaceuticals and household goods.

EU gives 'red card' to Cameroon over fishing

The EU on Thursday gave a "red card" to Cameroon for failing to cooperate in the international fight against illegal fishing.

Clothes retailer Next shrugs off UK cost-of-living crisis

Shares in UK clothing retailer Next soared to the top of the London market Thursday after it said colder weather boosted purchases despite a cost-of-living crisis caused by sky-high inflation.

McDonald's leaves Kazakhstan over 'supply restrictions'

Fast food giant McDonald's will close its doors in Kazakhstan due to supply restrictions, the local franchise that operates the US chain in the Central Asian nation said Thursday.

Stocks extend solid start to year, oil prices rebound

Stock markets mostly extended the solid start to the year Thursday as China reopens its economy from lockdowns, while oil prices recovered after heavy losses.

Global investors pressure Glencore over coal production

Key investors in Swiss miner Glencore have demanded the company explain how its coal production plans align with global efforts to curb the warming of the planet, shareholders said Thursday.

Chinese take risks on black market drugs as Covid surges

Desperate families searching for critical Covid-19 medication in China, faced with bare pharmacy shelves and an explosion of cases, are being driven into murky online marketplaces rife with price gouging and fraud.

Lazio fans hurl racist abuse at tearful Umtiti in Italy

France international Samuel Umtiti reportedly left the pitch in tears after he and Lecce teammate Lameck Banda suffered racist abuse from visiting Lazio fans in Italy's Serie A on Wednesday.

Amazon to cut more than 18,000 jobs, CEO says

Amazon announced Wednesday it will cut more than 18,000 jobs from its workforce, citing "the uncertain economy" and the fact that the online retail giant had "hired rapidly" during the pandemic.

Japan tuna price soars past $270,000 at New Year auction

The top-selling tuna at Tokyo's traditional New Year auction sold for more than $270,000 on Thursday, nearly double last year's price, breaking a pandemic trend of slumping demand.

Peru hits Spanish energy giant Repsol with new oil spill fines

Peru's environment authorities on Wednesday announced fines worth close to $6 million against Spanish energy giant Repsol over an oil spill that polluted beaches and cost thousands their livelihoods.

Fed officials do not expect US interest rate cuts this year

US central bankers do not expect it will be "appropriate" to start cutting interest rates this year with inflation remaining high, according to minutes of the latest Federal Reserve policy meeting released Wednesday.

Why monitor wastewater of flights arriving from China for Covid?

Several countries have said they will monitor the wastewater from flights arriving in China in response to an explosion of Covid-19 cases across the nation.

GM beats Toyota in US auto sales on strong demand

General Motors overtook Japanese carmaker Toyota in US automobile sales last year, according to company figures released Wednesday, reclaiming the top spot on strong demand after earlier supply difficulties.

US manufacturing sector weakens on easing demand: survey

US manufacturing activity contracted for a second month in December, remaining at the lowest levels since May 2020 as new orders and production slipped, survey data showed Wednesday.

Rate of scientific breakthroughs slowing over time: study

The rate of ground-breaking scientific discoveries and technological innovation is slowing down despite an ever-growing amount of knowledge, according to an analysis released Wednesday of millions of research papers and patents.

Deadly Ukraine strike reveals Russian tech weakness

Russia has blamed the deaths of scores of its soldiers in a New Year missile strike on its troops using unsecured, traceable mobile phones on the battlefield.

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Arizona Tribune - Economy (English)