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Featured

Global stocks rally on lower oil prices, US-China hopes

Stock markets climbed on Monday, boosted by falling oil prices and positive signals from trade talks between Chinese and US officials over the weekend.

EU proposes energy rating for data centres

Data centres in Europe will be rated on energy and water consumption under an EU proposal put forward Monday to pre-empt possible public discontent as the bloc pushes to boost its computing capacity.

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Thousands of migrants storm border fence in Spain's Melilla

Around 2,000 migrants tried to storm the border separating Spain's Melilla enclave from Morocco on Friday, the first such attempted mass crossing into the territory since the two nations mended diplomatic ties in March.

European stocks, oil prices rebound

European stock markets and oil prices recovered Friday following heavy losses this week on fears that interest rate hikes aimed at cooling decades-high inflation will spark a global recession.

Dozens of Suriname villages await aid following unprecedented floods

A boat meanders between the sheet metal roofs of houses in Baling Sula, one of numerous villages in central Suriname hit by devastating flooding.

Recession worries weigh on euro as US stocks advance

The euro retreated against the dollar Thursday as economic data pointed to increased prospects of recession in Europe, while Wall Street stocks finished higher following another volatile session.

Big Oil meeting with US govt cordial but no miracle gas price fix

Biden administration officials and oil industry executives huddled in Washington on Thursday to discuss potential steps to address runaway gasoline prices, and while both sides called the talks constructive, no concrete plans for relief emerged.

Chile workers end strike at world's largest copper producer

Workers at Chile's state mining company Codelco, the world's largest copper producer, called off an open-ended strike Thursday after reaching agreement with the government.

EU grants candidate status to Ukraine as US ships weapons

European Union leaders granted candidate status Thursday to Ukraine and Moldova in a strong show of support against Russia's invasion, as the United States said it was sending Kyiv more high-precision rocket systems.

Major US banks can weather severe economic downturn: Fed

The largest banks operating in the US market have sufficient resources to withstand a severe economic downturn and continue providing financing to American families and firms, the Federal Reserve said Thursday.

Fire and dance as spectacle returns to Paris fashion

With feats of contemporary dance and fiery orbs being flung from cranes, two of the showiest men's brands on Thursday brought some spectacle back to Paris Fashion Week after a subdued couple of years.

Biden summons Big Oil to meet on gas prices

The Biden administration has called oil giants to Washington Thursday to discuss what can be done to address runaway gasoline prices that are tanking the president's approval rating.

In Amazon region hit by double murder, poverty fuels violence

A short walk from the spot where British journalist Dom Phillips and Brazilian Indigenous expert Bruno Pereira set out for their final journey, people sit in the blistering sun breaking rocks into pieces with hammers.

Inflation-hit Turkey sticks to Erdogan's war on higher rates

Turkey's central bank on Thursday bucked global trends once again and kept its benchmark interest rate stable despite one of the highest levels of consumer price increases in the world.

Lebanese billionaire Mikati picked to form new govt

Lebanon's lawmakers designated incumbent Prime Minister Najib Mikati to form a new government Thursday, more than a month after parliamentary elections that yielded no clear majority.

Tunisia trade unions chief rejects IMF reforms

The head of Tunisia's powerful UGTT trade union on Thursday rejected International Monetary Fund conditions for a new loan to bail out the country's struggling economy and questioned the government's authority to negotiate.

Instagram trials AI tool to verify age of users

Photo sharing platform Instagram said on Thursday it was starting to trial a tool that relies on artificial intelligence (AI) to confirm the age of users in the United States.

Pfizer sets sights on elimination of blinding disease trachoma by 2030

Pfizer on Thursday said it would extend until 2030 a drug donation programme aimed at eliminating trachoma, an eye disease responsible for blinding or visually impairing nearly two million people worldwide.

Germany raises gas alert level after Russia cuts supply

Germany moved closer to rationing gas on Thursday as it raised the alert level under an emergency plan after Russia slashed supplies to the country.

'Like Covid never happened': Ibiza's nightclubs reopen

A crowd dances to the pulsing beat of electronic music, hands in the air, at the Pacha nightclub near the main marina on the Spanish holiday island of Ibiza.

Russia and China eye NATO's 'Arctic Achilles heel'

Russian flags flap in the stiff polar breeze, a bust of Lenin looms out of the snow and a vast slogan declares, "Communism is our goal!"

Monkeypox vaccine maker Bavarian Nordic ready to meet demand

As the lone laboratory manufacturing a licensed vaccine against monkeypox, Danish company Bavarian Nordic has seen its order book fill up as the usually rare disease spreads around the world.

China's Xi calls for stronger fintech oversight, security

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown.

Markets fluctuate, oil falls again as recession warnings build

Asian markets struggled Thursday to recover from the previous day's battering, while oil extended losses, after Federal Reserve boss Jerome Powell admitted the economy could tip into recession as the bank hikes interest rates to fight runaway inflation.

Workers in Chile strike at world's largest copper producer

Workers at Chile's state mining company Codelco, the largest producer of copper in the world, launched an open- ended strike Wednesday to protest the closure of a foundry in one of the country's most polluted regions.

Vienna returns as world's 'most liveable city'

The Austrian capital Vienna has made a comeback as the world's most liveable city, according to an annual report from the Economist published Thursday.

Beachgoers brave rockets in East Ukraine

With its white sand, changing cubicles and clear water, the beach at Sloviansk in eastern Ukraine looks tempting. There's just one problem: the nearby bangs of rockets and missiles.

New antibody therapies fight cancer, drum up investment

Antibody therapies are offering promising treatment breakthroughs for cancer and other illnesses, generating greater investor interest more than 20 years after they were first commercialised.

Troubled Canada pipeline no longer profitable: budget watchdog

The controversial Trans Mountain pipeline expansion project, now under construction in western Canada after being nationalized, is no longer profitable as costs have spiralled, Parliament's budget watchdog said Wednesday.

UK inflation hits fresh 40-year high in cost-of-living crisis

British annual inflation has hit a fresh 40-year high, official data showed Wednesday, further eroding workers' wages in a cost-of-living crisis, and heaping more pressuring the Bank of England to keep raising interest rates.

US Fed chair admits recession a 'possibility' after rate hikes

The US economy remains strong but a series of aggressive rate hikes meant to cool soaring inflation could eventually trigger a recession, Federal Reserve Chair Jerome Powell cautioned Wednesday.

US wants to ban Juul vaping products: report

US health authorities are expected to order Juul Labs to stop selling e-cigarettes in the world's biggest economy, the Wall Street Journal reported Wednesday.

Saudi prince arrives in Turkey for talks clouded by Khashoggi murder

Saudi Arabia's de facto ruler on Wednesday took another step out of his international isolation by paying his first visit to Turkey since the 2018 murder of journalist Jamal Khashoggi in the kingdom's Istanbul consulate.

Recession fears send stocks, oil prices plunging

Equities and oil prices tumbled Wednesday after a brief respite from last week's painful rout across world markets, with recession fears building as central banks hike interest rates to combat decades-high inflation.

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Arizona Tribune - Economy (English)