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Pentagon inks Tomahawk deal amid reports of missile shortfall

The Pentagon announced a $22.9 billion contract with Raytheon on Monday for Tomahawk missiles amid reports of a shortfall due to the war with Iran.

Stocks lower as Hormuz concerns and high oil prices persist

Global stocks mostly slipped Monday as lack of progress on opening the Straits of Hormuz outweighed expectations that the Federal Reserve will not raise US interest rates anytime soon.

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IMF reaches agreement on $3 bn deal for Lebanon

The IMF announced Thursday that after months of negotiations it reached a staff-level agreement to provide Lebanon with $3 billion in aid to help it emerge from a severe economic crisis.

Stocks wilt as investors brace for US Fed tightening

US and European stocks retreated Thursday after minutes from central banks showed US policymakers ready to aggressively wind back easy-money policies while their eurozone counterparts disagreed over their own way forward.

ECB members divided over inflation response: minutes

European Central Bank policymakers disagreed last month on how to respond to runaway inflation and economic uncertainty caused by the Ukraine war, minutes from their meeting showed on Thursday.

Sri Lanka asks experts to plan debt restructure as protests rage

Sri Lanka's president has appointed a panel of experts to organise a restructuring of foreign debt as he seeks a way out of a worsening economic crisis, with protests demanding his resignation escalating.

Greece to double coal output to reduce Russian gas use

Greece's government said Thursday it plans to double production of lignite, or brown coal, in the coming two years despite the pollution it causes as Athens aims to reduce its dependence upon Russian gas.

Rodin 'Thinker' auction expected to reach up to 14 mn euros

A cast of "The Thinker" by Auguste Rodin will be auctioned in Paris on June 30, expected to reach between 9 and 14 million euros ($10-$15 million), Christie's said Thursday.

Eurozone stocks climb but London slips

Eurozone stocks rose Thursday but London drooped as investors digested news that the Federal Reserve held off from a bigger interest rate hike last month owing to Ukraine turmoil, dealers said.

Pakistan rupee nosedives against dollar as political crisis rocks confidence

The Pakistan rupee dropped to a historic low of 191 rupees to the dollar Thursday as an ongoing political crisis rocked confidence in the currency.

Energy giant Shell hikes Russian exit hit to $5 bn

Shell on Thursday warned that its exit from Russia over the Ukraine war would cost the British energy giant up to $5 billion, but it would fulfil pre-conflict contracts to buy fuel from Moscow.

Asian markets track Wall St down with Fed set to tighten screws

Asian equity markets fell Thursday after minutes from the Federal Reserve's latest policy meeting indicated it is preparing to aggressively wind back its monetary policy, while oil prices rebounded from another big drop.

Shell to take hit of up to $5 bn on Russia exit

British energy giant Shell warned Thursday that it would take a hit of up to $5 billion (4.6 billion euros) on its exit from Russia, following Moscow's invasion of Ukraine.

Hong Kong leader defends Covid flight ban policy

Hong Kong's leader on Thursday defended her policy of temporarily banning flight routes that bring in coronavirus cases, as a leading airline industry figure warned the city had fallen "off the map" as an aviation hub.

The race to dominate satellite internet heats up

Though satellite internet has existed for years, the competition is about to rapidly intensify, with companies planning to launch thousands of their own systems into low Earth orbit.

Samsung forecasts Q1 operating profit up 50.3% year-on-year

Samsung Electronics expects operating profits for the first quarter to rise 50.3 percent, the South Korean tech giant said in a statement Thursday, despite global supply chain woes.

'Amazon, here we come': Biden cheers US union drive

President Joe Biden sang praises for organized labor once again Wednesday, hailing last week's triumph by union backers at Amazon as a sign of what is possible throughout the United States.

Many US Fed officials support future half-point increase: minutes

At their March policy meeting, several US Federal Reserve officials supported raising interest rates by half a percentage point in the future to combat inflation, minutes released Wednesday said.

US slaps sanctions on Putin's daughters, Russia's biggest banks

The White House announced sanctions Wednesday targeting Russia's top public and private banks and two daughters of Vladimir Putin, adding pressure on the country's economy and its elite over the invasion of Ukraine.

Greeks demonstrate over soaring prices

Thousands of Greeks demonstrated in Athens against soaring prices Wednesday as a general strike shut down public services.

JetBlue seeks to buy Spirit Airlines, threatening Frontier deal

JetBlue Airways announced Tuesday a bid to acquire Spirit Airlines for $3.6 billion, setting up a bidding war with Frontier Airlines in the discount flying market.

Easier for Europe to give up Russian coal than gas

The EU is preparing to hit Russian coal with sanctions.

Good times: Luxury watchmakers face soaring demand

Times have been so good for luxury watchmakers that they are running behind demand, forcing some to delay the release of new collections and others to invest more in production capacity.

Maradona's 1986 World Cup 'hand of God' jersey to be auctioned

The jersey worn by Diego Maradona when he scored twice against England in the 1986 World Cup, including the infamous "hand of God" goal, is to be auctioned off later this month, Sotheby's announced Wednesday.

Singer Ed Sheeran wins 'Shape of You' copyright dispute

British singer-songwriter Ed Sheeran on Wednesday won his copyright trial at London's High Court after a judge ruled that his hit song "Shape of You" did not lift musical phrases from another track.

Asian, European markets track Wall St retreat on hawkish Fed bets

Equities sank Wednesday after Wall Street tumbled on bets the Federal Reserve will act more aggressively to bring inflation under control, while oil recovered some losses caused by the European Union's decision not to ban Russian crude.

Is Picasso being cancelled?

Pablo Picasso's track-record with women certainly would not make him a feminist pin-up today.

US, UK, Australia vow to cooperate on hypersonic weapons

The United States, Britain and Australia said Tuesday they would begin collaborating on hypersonic missile strike and defence capacity, as rivals Russia and China advance rapidly in the cutting-edge technology.

Russian cinema in turmoil as Hollywood pulls out

After years spent translating Hollywood films, Russian Mila Grekova was suddenly thrown out of work after Moscow's military intervention in Ukraine.

Twitter moves to limit reach of Russian govt accounts

Twitter announced Tuesday it was introducing new measures against Russian government accounts to reduce the impact of official propaganda on the social network.

Twitter to test longed-for edit button

Twitter announced Tuesday it will soon start testing an edit button at its monthly subscription service.

JetBlue seeks to buy Spirit Airways, threatening Frontier deal