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'No time to recover': UNDP chief sounds alarm on growing poverty after Iran war shock

Millions could be thrown into poverty by surging energy costs, the impact of an intense El Nino phenomenon and higher interest rates, with vulnerable countries being pushed to the brink by repeated crises, the UN's development chief told AFP.

Tech stock lead rout after US inflation fuels rate hike bets

Asian stocks plunged Thursday as tech firms suffered another painful rout after forecast-topping US inflation data fuelled expectations the Federal Reserve will have to ramp interest rates higher.

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General Motors eyes strong 2024 as earnings top estimates

General Motors reported higher quarterly profits Tuesday thanks to continued robust vehicle pricing amid strong North American demand, offsetting the hit from a labor strike.

N. Ireland deal looks to end 2-year political deadlock

Northern Ireland on Tuesday moved a step closer to ending a near two-year political deadlock after the main pro-UK party finally endorsed a deal with London aimed at reopening the region's assembly.

Flatlining eurozone economy narrowly dodges recession

The eurozone economy narrowly avoided a technical recession in the second half of 2023 but stagnated in the final three months of the year, official data showed Tuesday.

European stocks rise as eurozone dodges recession

European stock markets rose on Tuesday, with Paris reaching a record high as official data showed the eurozone avoided recession last year.

Eurozone narrowly dodges recession

The eurozone economy narrowly avoided a technical recession in the second half of 2023 but stagnated in the final three months of the year, official data showed Tuesday.

German economy shrank at end of 2023: data

The German economy contracted at the end of 2023, official data showed Tuesday, the latest gloomy news for Europe's export powerhouse as it battles high inflation and a manufacturing slowdown.

Saudi Aramco halts plan to raise production capacity

Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday.

Asian stocks mixed after Wall St record, eyes on Evergrande impact

Asian markets were mixed Tuesday as another record on Wall Street was unable to help extend the previous day's advance, with traders eyeing a Federal Reserve meeting, big-name earnings and key data.

Saudi Aramco halts plan to raise production capacity: statement

Saudi Arabia has ordered energy giant Aramco to maintain its oil production capacity at 12 million barrels per day, abandoning a planned increase, the firm said on Tuesday.

Toyota apologises for scandals as vehicle sales set new record

Toyota's chairman said Tuesday he was "ashamed" of recent scandals involving subsidiaries of the Japanese auto giant, as the firm announced record vehicle sales of 11.2 million across its brands last year.

Toyota sets new global record for annual vehicle sales

Japan's Toyota said Tuesday that it sold a record 11.2 million vehicles in 2023, cementing its position as the world's top-selling automaker for the fourth successive year thanks to a recovery in demand in all regions and easing semiconductor shortages.

App lets Indigenous Brazilians connect in own languages

For Indigenous communities in the Brazilian Amazon, getting online is a challenge. Now, a smartphone app is making it easier to connect by allowing them to use their own native languages.

Renault slams brakes on listing of Ampere EV division

French automaker Renault said Monday that it was halting the initial public offering of its EV unit Ampere, saying market conditions were unfavourable to list the company's shares.

British graphic novelist delighted to 'infiltrate' cartoon boys' club

Posy Simmonds is only the fifth woman and the first Briton to win the grand prix at France's prestigious Angouleme comics festival, an honour she is thrilled with -- even if toothache prevented her from collecting it in person.

Anglican leader calls UK Rwanda migrants plan 'damaging'

The leader of the world's Anglicans on Monday warned that the UK government's plan to send migrants to Rwanda was leading the nation down a "damaging path", as he waded into the highly charged political issue.

Jacquemus brings stars and surrealism to Provence

One of fashion's biggest breakout successes, France's Jacquemus, sought to move past recent turbulence in his business with a glamorous show in front of stars including Julia Roberts and Kylie Jenner on Monday.

Historic German store KaDeWe files for insolvency

Iconic Berlin department store KaDeWe said Monday it had filed for insolvency, as rising rental prices in Germany left it struggling to stay afloat.

Protesting farmers block major roads into Paris

French farmers choked off major motorways around Paris on Monday, threatening to blockade the capital in an intensifying standoff with the government over working conditions.

Cement giant Holcim eyes US reindustrialisation to boost N. America spinoff

Swiss construction giant Holcim is betting that US "reindustrialisation" will continue booming regardless of who wins the presidency in November, bolstering its North American branch ahead of a planned spinoff.

Stocks steady while oil prices back off three-month highs

European and US stocks were mostly flat Monday at the start of a week packed with major earnings and data in addition to central bank decisions on interest rates.

Buried in massive debt, Italy puts crown jewels up for sale

Prime Minister Giorgia Meloni once declared Italy's postal service a "crown jewel" that must stay in state hands, but she is now selling a stake as part of a privatisation programme to tackle a huge public debt.

Protesting French farmers start blockade of Paris

French farmers began choking off major motorways around Paris on Monday, threatening to blockade the capital in an intensifying standoff with the government over working conditions.

Italy reveals energy, migration plan at Africa summit

African leaders gathered at a Rome summit on Monday to hear Prime Minister Giorgia Meloni's much-hyped plan for the continent, aimed at transforming Italy into an energy hub -- and stopping migration.

Stocks diverge, oil rises tracking data, Middle East escalation

Stock markets diverged Monday, the start of a week packed with major earnings and data in addition to central bank decisions on interest rates.

Monaco royals rocked by new claims over offshore assets

Claims by a former close confidant of Monaco's royal family that part of its fortune is placed in tax havens have rocked the affluent city state, in the latest scandal facing the palace under Prince Albert II.

Philips stops selling sleep devices in US amid recall woes

Under-fire Dutch medical device maker Philips said Monday it would halt new sales of sleep machines in the United States after a series of recalls that continued to weigh on results.

Cement giant Holcim's shares soar after N. America spinoff news

Shares in Swiss construction giant Holcim surged on Monday after it announced plans to fully spin off its North America business.

China's Evergrande: what happens next after liquidation order?

A Hong Kong court on Monday issued a winding-up order for Chinese real estate giant Evergrande, as the embattled firm teeters on the brink of bankruptcy.

Oil rises on fresh Middle East fears, equities advance

Oil rose Monday on fresh Middle East fears as Joe Biden pledged to retaliate after Iran-backed Huthi rebels killed three US service members in a drone attack, while equities were boosted by China's latest move to support its troubled markets.

Hong Kong court orders liquidation of China's Evergrande

A Hong Kong court on Monday issued the liquidation of battered Chinese property giant Evergrande after lawyers failed to convince a judge it had a working restructuring plan.

Yemen's Huthi rebels open seized cargo ship to sightseers

More than two months after Yemen's Huthi rebels captured the Galaxy Leader cargo ship and detained its crew, the Iran-backed rebels have turned the vessel into a domestic "tourist attraction".

Wall Street girds for ugly Boeing earnings as CEO faces scrutiny

Boeing's 737 MAX 9 planes have begun to fly again after the January 5 Alaska Airlines scare, but the episode is expected to weigh on the aviation giant's finances for the foreseeable future.

Berliner Tageblatt - Economy (English)