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US says downed multiple Iran drones as both insist deal closer

The United States said it downed multiple Iranian drones targeting commercial ships in the Strait of Hormuz early Saturday, hours after both sides said a deal to end the Middle East war was closer than ever.

US clears Paramount's $111 bn Warner Bros. takeover

The US Justice Department on Friday cleared Paramount Skydance's $111 billion takeover of Warner Bros. Discovery, handing a major win to a media empire financed by one of President Donald Trump's closest billionaire allies.

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US Fed raises interest rate in battle against high inflation

The Federal Reserve escalated its battle against the wave of prices increases battering the US economy on Wednesday by raising the benchmark interest even as it acknowledged the risk posed by the war in Ukraine.

Ukraine leader entreats US as Putin claims invasion on course

Ukraine's leader on Wednesday made an emotive appeal to US lawmakers for greater Western intervention against Russia, which insisted its invasion was going "successfully" despite the West rallying to Kyiv's aid with arms and sanctions.

Stocks rally on China action, Ukraine hopes

Global stocks rallied on Wednesday, buoyed by Ukraine peace hopes and China's pledge to help stabilise markets after recent routs.

Nickel trading resumes in London after IT error

Trading in nickel resumed Wednesday on the London Metal Exchange but was disrupted by an IT glitch, after a suspension linked to the Ukraine crisis.

Cash-strapped Sri Lanka seeks IMF bailout

Sri Lanka will seek an International Monetary Fund bailout, President Gotabaya Rajapaksa said on Wednesday, to battle record inflation and unprecedented food and fuel shortages as the country runs out of dollars to finance imports.

Walmart seeks to hire 50,000 more workers in US

Walmart said Wednesday it plans to hire 50,000 workers in the United States by the end of April as it seeks to expand its retail operations amid a tight labor market.

Russia faces default fears as debt payment due

Russia is due to pay interest on its foreign debt Wednesday as sanctions over the Ukraine conflict have raised concerns that Moscow could face its first default in decades.

Brazil awards Bolsonaro 'medal of indigenous merit'

The Justice Ministry awarded President Jair Bolsonaro Brazil's "medal of indigenous merit" Wednesday, drawing criticism for granting the honor to a leader that indigenous groups accuse of "genocide" and "ecocide."

Howard Schultz returns to Starbucks as interim leader, Johnson exits

Starbucks announced Wednesday that longtime chief Howard Schultz will return to helm the global coffee shop chain on an interim basis while the company searches for a new leader amid a growing unionization drive.

Starbucks says Howard Schultz back as interim leader as Johnson exits

Starbucks announced Wednesday that longtime chief Howard Schultz will return to lead the global coffee shop chain on an interim basis while the company searches for a new leader amid a growing unionization drive.

Higher gas prices boosted US retail sales in February

Rising costs for gasoline caused US retail sales to grow in February, according to government data released Wednesday, though the expansion was slightly below expectations.

WTO chief hails Covid vaccines IP compromise

The World Trade Organization chief hailed Wednesday a breakthrough between the EU, the United States, India and South Africa on waiving intellectual property rights on Covid-19 vaccines.

Head of Russia's Yandex resigns after being hit by EU sanctions

The head of Russia's tech giant Yandex, Tigran Khudaverdyan, has resigned after being placed on a list of European sanctions.

Nickel trading resumes only briefly in London

Trading in nickel resumed Wednesday on the London Metal Exchange after a lengthy pause linked to the Ukraine crisis but was quickly suspended again after a sharp fall.

British PM to meet Saudi, UAE leaders as war roils oil prices

British Prime Minister Boris Johnson was to lobby Saudi Arabia and the United Arab Emirates to pump more oil to calm turbulent markets as he meets the Gulf states' leadership on Wednesday.

US steps up aid to Ukraine as pressure builds to halt Russia

The United States is set to unveil a fresh round of security assistance to Ukraine Wednesday, a White House official said, as Western leaders faced mounting pressure to stop Russia's bombardment of civilians and peace talks made halting progress.

Ben Affleck and Ana De Armas's fatal attraction

If there's one guy who knows how to make an erotic thriller in Hollywood, it's Adrian Lyne.

Asian markets bounce as Hong Kong tech sees bargain-buying

Asian markets saw a much-needed bounce Wednesday as Hong Kong's tech giants led a rally in the city after their recent rout, while oil prices rose back above $100 but remain pressured by concerns over demand from China.

Pakistani truck artist gives new flair to kicks

Haider Ali dabs a brush with an iridescent glob of paint and gets to work on a pair of sparkling white trainers -- his latest canvas for a carnival of colour celebrating Pakistani culture.

Fed set to raise interest rates to rein in inflation

US central bankers on Wednesday are poised to take the first step to raise borrowing costs in a bid to cap rising inflation before it surges out of control.

Dominoes the game for everyone in Venezuela

Efren Rodriguez leaves the table annoyed as his fellow players, drunk and laughing, cry out "Zapato! Get out!"

European leaders in defiant Kyiv trip as Russia closes in

A trio of eastern European leaders met Ukraine's president in his besieged capital Tuesday, in a defiant act of solidarity as Russian forces pressed in and air strikes claimed yet more lives in the city under curfew.

European leaders in defiant Kyiv trip as Russia presses in

Barcelona agree sponsorship deal with Spotify

Barcelona announced on Tuesday that Spotify will become their main sponsor from next season, with the club's stadium to be rebranded as Spotify Camp Nou from July.

Biden Fed nominee Sarah Bloom Raskin withdraws: source

US President Joe Biden's nominee for the role of the top Federal Reserve banking cop Sarah Bloom Raskin said Tuesday she was withdrawing her name from consideration, a source familiar with the matter told AFP.

Nobel laureate Stiglitz calls on Europe to do without Russian gas

Nobel economics prize laureate Joseph Stiglitz said Tuesday that the speed and intensity of economic and financial sanctions against Russia would make them efficient but warned Europe must stop buying Russian oil and gas.

Oil prices plunge on China lockdowns, stocks diverge

Oil prices plunged on Tuesday as major crude consumer China placed nearly 30 million people under Covid lockdown and traders tracked the latest developments in Ukraine and Iran nuclear talks.

Russian forces press in on Kyiv as talks resume

Russian forces pressed in on Kyiv Tuesday with a series of strikes on residential buildings that killed four people in the Ukrainian capital, despite a fresh round of talks aimed at halting the war.

Verona hit with one-match stand closure after racist chants

Verona will have to play one match without the backing of their hardcore fans after widespread racist chants during the weekend's 2-1 loss to Napoli, Serie A said on Tuesday.

Fake heiress Anna Sorokin still in US amid deportation rumors

Fake heiress Anna "Delvey" Sorokin remains in custody in the United States, US immigration authorities said on Tuesday, despite reports she was about to be deported to Germany.

Intel investment fuels EU chips race with Asia

American chip-making giant Intel said on Tuesday it planned to invest tens of billions of euros in the European Union, as the continent seeks to reduce its reliance on semiconductors from Asia.

Food security worsens in Afghanistan as wages fall: World Bank

Food security in Afghanistan has deteriorated sharply since the Taliban took power in August, while wages have fallen "dramatically" for more than two-thirds of workers, a World Bank survey said Tuesday.

Arizona Tribune - Economy (English)