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Wall Street grills Bank of America over money laundering fine

Shares of Bank of America tumbled Wednesday as the lender faced pointed questions from Wall Street analysts over a $1.2 billion regulatory settlement that led to a big earnings miss.

Ukraine war reaches shores of Bulgarian fishing village

After a series of drone attacks on ships off the coast, the conflict in Ukraine has taken on a new immediacy for residents of Krapets, a tiny Bulgarian Black Sea fishing village.

Last news

Ghana raises cocoa price by 45% to deter smuggling

Ghana's government on Wednesday announced a 45-percent increase in the producer price of cocoa for the 2024/2025 crop season, in a bid to curb smuggling.

US stocks rebound as market eyes Fed rate cut after inflation data

Semiconductor stocks were among the strongest performers Wednesday as US stocks staged a rebound to finish higher following mixed inflation data.

Argentine Congress upholds Milei veto of pensions increase

Argentina's Congress on Wednesday upheld a veto by President Javier Milei of a bill to increase pensions, as protesters clashed with police outside the building.

UN experts call for global system to trace critical minerals

UN experts called Wednesday for the creation of a global system to trace the extraction and production of critical minerals that are needed in the transition away from fossil fuels.

Afghanistan says to begin work on huge gas pipeline

Afghanistan said Wednesday work would begin on a $10 billion gas pipeline traversing South Asia as officials joined dignitaries in neighbouring Turkmenistan to celebrate its completion on that side of the border.

US stocks diverge as investors weigh slowing inflation

US stocks diverged on Wednesday as consumer inflation fell more than expected, fuelling a debate about the size of an expected Federal Reserve interest-rate cut next week.

Senior with style: Retirees take centre stage at Vienna Fashion week

Style is ageless, say a group of retirees who have just debuted their self-made collection at the Vienna Fashion Week.

US consumer inflation eases more than expected in August

US consumer inflation eased more than expected last month, according to government data published Wednesday, bolstering expectations that the Federal Reserve will cut interest rates next week.

East Timor says Australia pipeline deal to be struck by November

East Timor President Jose Ramos-Horta said on Wednesday a deal with Australia on a vast fossil fuel project seen as crucial to the tiny nation's economic future will be struck by November.

Man Utd post losses for fifth straight year

Manchester United on Wednesday posted net losses of £113.2 million ($148 million) for 2023/24 despite earning record revenues -- their fifth straight year of losses.

UK economy stalls, dealing blow to new government

Britain's economy stalled again in July, official data showed Wednesday, dealing a blow to the new Labour government that has put growth expansion at the top of its priority list.

UniCredit takes stake in Commerzbank, fuelling tie-up talk

Commerzbank shares soared Wednesday after Italian bank UniCredit acquired a nine-percent stake in Germany's second-biggest lender, half of it from the German state, fuelling speculation about a potential takeover.

Nigeria's Dangote refinery caught between promise and reality

When will gasoline from Nigerian tycoon Aliko Dangote’s mega-refinery finally flood the home market? That's the question Nigerians are asking as Africa’s most populous country battles chronic petrol shortages.

Markets mixed ahead of US inflation, yen rallies after US debate

Equity markets were mixed Wednesday as worries about the world's top two economies offset US rate cut optimism, while the yen hit a nine-month high after a Bank of Japan official hinted at more monetary tightening.

Property website Rightmove rejects £5.6 bn Murdoch bid

UK online property website Rightmove said Wednesday it had rejected a multi-billion-pound takeover offer from Australian peer REA Group, majority owned by Rupert Murdoch's News Corp empire.

Markets drop on economy worries, yen rallies after US debate

Equities slipped Wednesday as worries about the world's top two economies offset US rate cut optimism, while the yen hit a nine-month high after a Bank of Japan official hinted at more monetary tightening.

Harris, Trump cross swords on China and economy in debate

US presidential hopefuls Kamala Harris and Donald Trump clashed on China and economic issues Tuesday, with the Democratic candidate saying he "sold us out" on China while the former president declared "they've destroyed the economy."

Asian markets drop on economy worries, yen rallies

Equities slipped Wednesday following a mixed day on Wall Street, as worries about the world's top two economies offset optimism that the Federal Reserve will start cutting interest rates next week.

Power struggle: Serbia eyes nuclear energy to fuel future

Time stands still at Serbia's Vinca nuclear facility, where the decommissioned Yugoslav-era reactor is a testament to the fears generated by the controversial energy source.

Tea trouble brews for Sri Lankan presidential hopefuls

The backbone of the economy, Sri Lanka's tea pickers are determined to use their powerful vote to choose a president this month who will change grim working conditions for good.

Weight loss drug safe, effective for under-12 kids: study

A weight loss drug has been found to be broadly safe and effective for children under 12 with obesity, according to a small study on Wednesday that was cautiously welcomed by outside experts.

Who is on SpaceX's historic private spacewalk mission?

Four US civilians are set to attempt the first-ever private spacewalk on Thursday -- a risky endeavor usually reserved for trained astronauts from government agencies.

Crisis-hit Volkswagen scraps German job protection deal

Volkswagen on Tuesday axed an agreement protecting jobs in Germany that had been in place three decades, as the ailing auto titan pushes ahead with a controversial cost-cutting plan.

EU scores 'big win' in court against Apple and Google

The EU's top court on Tuesday delivered two major victories in the bloc's battle to rein in tech giants by ruling against Apple and Google in separate legal sagas with billions of euros at stake.

UK's Starmer faces down parliament over 'unpopular' benefit cut

UK Prime Minister Keir Starmer survived an early test of his fledgling premiership on Tuesday when lawmakers backed his controversial plan to end fuel benefits for millions of pensioners.

US Fed vice chair tones down proposals for fresh banking regulations

A senior US Federal Reserve official proposed Tuesday a number of "broad and material" changes to new banking rules, toning down plans to tighten regulation and supervision.

BMW recalls 1.5 mn cars over bad brake, cuts outlook

BMW said Tuesday it was recalling about 1.5 million vehicles due to problems with their brakes and cut its outlook for the year, sending the German luxury carmaker's shares tumbling.

Europe's fight with big tech over tax, data and disinformation

The European Union scored two major legal victories on Tuesday in separate cases that left Apple and Google owing billions of euros.

Islamic scholar Tariq Ramadan convicted of rape on appeal in Switzerland

Islamic scholar Tariq Ramadan, who faces a string of allegations in Switzerland and France, was found guilty of rape by a Swiss appeals court Tuesday, overturning an earlier lower court acquittal.

Stock markets, dollar diverge on rates watch

European and Asian stock markets diverged along with the dollar Tuesday after a rally on Wall Street as traders assessed the outlook for interest rates in the United States and Europe.

Djibouti says offering port-sharing deal to Ethiopia

Djibouti said it has offered a port-sharing deal with Addis Ababa, a move aimed at easing tensions between Horn of Africa rivals Ethiopia and Somalia.

China's Huawei unveils triple-folding phone with hefty price tag

Chinese tech giant Huawei on Tuesday unveiled the world's first triple-folding phone at more than three times the price of the newest iPhone, hours after its US competitor lifted the curtain on its own new handset built for AI.

Berliner Tageblatt - Economy (English)