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Featured

SK hynix posts 1,200% net profit boost on AI chip boom

South Korea's SK hynix said Wednesday second-quarter net profit soared a whopping 1,242 percent year-on-year, driven by the artificial intelligence industry's explosive demand for its advanced memory chips.

Senate advances sweeping Russia sanctions bill

The US Senate advanced sweeping sanctions legislation targeting Russia's energy revenues Tuesday, as Ukrainian President Volodymyr Zelensky visited Washington to press for stronger action against Moscow.

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What to know about Milei's bid to liberalize Argentina's economy

Argentina's libertarian President Javier Milei this week unleashed a mega-decree to change or scrap 366 economic rules in a country accustomed to heavy government intervention in the market.

Chinese EV automaker BYD to build car factory in Hungary

China's top electric automaker BYD will build a car factory in Hungary, the company said Friday, as it pushes forward with plans for expansion into Europe despite growing concerns around fair competition.

Cummins to pay $1.67 bn to settle engine emission control claims

US engine maker Cummins Inc has agreed to pay $1.67 billion to settle claims it installed devices to defeat emissions controls in hundreds of thousands of pickup truck engines, the Justice Department said Friday.

Key US inflation gauge cools in November as rate cut looms

A measure of inflation favored by the US Federal Reserve weakened in November on lower energy prices, government data showed Friday, providing further reassurance to policymakers keen to rein in price increases.

US starts targeting banks that help Russian war in Ukraine

The United States said Friday it will impose sanctions on foreign banks that support Russia's war in Ukraine, in a new bid to exert pressure on Moscow as it diversifies from the West to China.

US new home sales slow more than expected in November

Sales of new US homes cooled more than anticipated in November, slipping to the lowest level in a year, according to government data released Friday.

Stock markets rise before Christmas break as inflation cools

US and European stock markets mostly advanced Friday before the Christmas break as data showed US inflation cooled last month, raising hopes the Federal Reserve will cut interest rates next year.

French caviar farms look forward to EU label of origin

At a French caviar factory this week, a worker used tiny pliers to carefully line up black sturgeon fish eggs against a ruler.

Cocaine market sees new players, bananas and Amazon submarines: report

The global cocaine market is changing.

Zambia president blames private creditors for debt deal delays

Zambia's President Hakainde Hichilema on Friday blamed private creditors for holding up a long-sought debt restructuring deal for the first African nation to default after the Covid pandemic.

Eurostar trains resume after surprise Channel tunnel strike

High-speed trains running the Channel Tunnel resumed service on Friday after French unions ended a wildcat strike that had stranded vacationers and held up freight just days before Christmas.

War pushing Gaza to famine, UN warns

The Israel-Hamas war is pushing Gaza towards famine, the United Nations warned ahead of an expected Security Council vote Friday on a resolution to boost aid to the Palestinian territory but not call for a ceasefire.

UK economy shrinks before election year

Britain's economy unexpectedly shrank in the third quarter and flatlined in the previous three months, official data showed Friday, raising fears of a recession before an election due next year.

Missing UK teen found in France returned for better 'future'

A UK teen who resurfaced in France six years after going missing, has told a newspaper that he decided to return to Britain because he wanted a better future.

Asian markets mixed as rate hopes offset by China gaming move

Asian markets were mixed Friday as the euphoria over an expected flurry of US interest rate cuts next year was offset by a tech-led plunge in Hong Kong after China unveiled fresh plans to restrict online gaming.

Prices bite into Greek Christmas even as economy improves

Greece's traditional Christmas sweets made of icing sugar, honey and powdered almonds tantalise shoppers ahead of the festive season as they do every year.

'Pooper' figures star in nativity scenes in Spain

Look closely at a nativity scene in Spain's Catalonia region and you will likely spot an unusual figure -- a peasant with his pants down and doing his business in the holy scene.

Channel Tunnel reopens after end of surprise pre-Christmas strike

High-speed trains running the Channel Tunnel will resume service on Friday after French unions ended a wildcat strike that had stranded holidaygoers and held up freight just days before Christmas.

UN Security Council to vote on Gaza aid as famine fears mount

The United Nations Security Council was expected to vote Friday on a resolution to boost aid to Gaza, as the world body warned the Israel-Hamas war was pushing the Palestinian territory towards famine.

Singaporean artisan family keeps religious effigy art alive

Tan Chwee Lian picks up a small paddle, her finger resting on a groove worn into the wood over 70 years of making Buddhist and Taoist deities in her shop, one of the last of its kind in Singapore.

Japan's hand-forged knives a slice of samurai metallurgy

Blacksmith Yoshihiro Yauji pulls a piece of glowing metal from the forge in a Japanese village, continuing a tradition dating back centuries to when the region was renowned for crafting swords carried by samurai.

No jingle in Argentine pockets as economic grinch ruins Christmas

Cecilia Rojas has scoured shops across greater Buenos Aires to find an affordable gift for her children this Christmas, which is set to be a gloomy affair as the country grapples with its worst economic crisis in decades.

Nike shares tumble as it cuts costs amid 'softer' outlook

Nike promised up to $2 billion in cost savings Thursday involving job cuts and greater use of automation as it eyes "softer" sales in the coming period.

Nike shares tumble as it cut costs amid 'softer' outlook

Nike promised up to $2 billion in cost savings Thursday involving job cuts and greater use of automation as it eyes "softer" sales in the coming period.

US Steel, Nippon Steel seek US security review of takeover deal

US Steel Corp and its potential buyer Nippon Steel of Japan are requesting a federal review of their proposed deal following congressional criticism that the transaction threatens US national security, US Steel said Thursday.

French unions announce end of Channel tunnel strike

French unions on Thursday announced the end of a wildcat strike that paralysed train travel through the Channel tunnel between France and Britain, saying the route would reopen shortly.

French city makes public transport free for residents

The French city of Montpellier on Thursday became the latest European metropolis to allow all its residents to ride public transport for free.

Angola departure a blow for OPEC+ as cartel tensions rise

Angola's departure from OPEC exposes the tensions with the oil cartel as it seeks to cut output to maintain prices just as the United States ramps up production.

UEFA suffers court defeat, but Super League finds few fans

Europe's top court dealt football governing body UEFA a scything legal tackle on Thursday, but an attempt by rival Super League promoters to kick off a new competition met a solid defensive wall of clubs and fans.

Wildcat Channel tunnel strike blocks France-UK train travel

A strike by workers operating the Channel tunnel blocked train travel Thursday between Britain and France, leaving thousands of pre-Christmas travellers as well as freight traffic stranded.

UK and Switzerland seal financial services deal

Britain and Switzerland unveiled a post-Brexit financial services agreement on Thursday, aimed at making it easier for corporate and wealthy people in both countries to do business together.

Crude prices drop after Angola quits OPEC

Crude prices slumped on Thursday after Angola quit the OPEC oil cartel, while Wall Street stocks rebounded after a streak of records was snapped.

Berliner Tageblatt - Economy (English)