The China Mail - Economy

UK's Labour vows action as anti-Semitism scandal reemerges

Britain's main Labour opposition vowed Wednesday to act decisively over allegations of anti-Semitism, after suspending a second prospective MP over "unacceptable comments" about Israel.

Body Shop's UK business slides into administration

The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has entered administration, administrators said Tuesday, placing thousands of jobs at risk.

Sony hikes profit forecast but says PS5 sales to slow

Japan's Sony upgraded its annual net profit forecast on Wednesday but trimmed its PlayStation 5 unit's sales target, with the flagship console currently in its fourth year on the market.

UK inflation holds at 4.0 percent in January: data

Britain's annual inflation rate remained unchanged in January from the previous month, confounding expectations for an acceleration, official data showed on Wednesday.

Most of Asia tracks Wall St down as US data dents rate cut hopes

Most Asian equities sank Wednesday, tracking a sell-off on Wall Street, as a forecast-topping US inflation report dealt a hefty blow to hopes for an early interest rate cut.

From insurgent to premier, N Macedonia's PM bridges ethnic divide

Former guerrilla commander Talat Xhaferi became the first ethnic Albanian to lead North Macedonia after being elected as caretaker prime minister late last month, highlighting strides in ethnic relations.

Cambodia warns students of 'losing dignity' on Valentine's Day

Authorities in Cambodia have issued a stern rebuke to students to avoid "inappropriate activities" this Valentine's Day, warning them of the perils of "losing dignity".

Fears that pirates are returning to seas off Somalia

The daring attack in December bore unsettling hallmarks of the piracy that once terrorised global shipping off eastern Africa: a cargo vessel hijacked, its crew taken to Somalia, and disappeared.

US House leader rejects Ukraine aid despite Biden's plea

The Republican leader of the US House of Representatives on Tuesday blocked war aid for Ukraine, ignoring President Joe Biden's plea that passing the bill was vital for standing up to "Russian dictator" Vladimir Putin.

Global stocks drop on sticky US inflation

Stocks in the United States and Europe slumped on Tuesday while the dollar climbed as data showed that US inflation slowed less than expected in January, diminishing chances of an early interest rate cut.

Nine trapped in Turkish gold mine landslide

Hundreds of Turkish rescuers on Tuesday searched through a cyanide-laced field for nine gold mine workers who were swallowed by a massive landslide that rolled over their open pit.

Young Senegalese want to vote no matter what

Street vendor Mohamed Al Amine Toure, 23, is devastated over the delay of Senegal's presidential election. He had been all geared up to go out and vote.

Body Shop's UK business slides into bankruptcy

The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has entered bankruptcy, administrators said Tuesday, placing thousands of jobs at risk.

From tourism to energy, Senegal economy braces for fallout

Senegal's hotels have seen a wave of cancellations since political unrest hit the West African country and many foreign companies are nervous about the deadly troubles.

Stocks drop on sticky US inflation

Stocks in the United States and Europe slumped on Tuesday while the dollar climbed as data showed that US inflation slowed less than expected in January, diminishing chances of an early interest rate cut.

Valentine's Day strike misery for UK lovers

Britain's couples could struggle for Valentine's Day gifts and meals after Amazon staff went on strike over pay Tuesday -- and will soon be joined by takeaway delivery drivers, organisers said.

Body Shop's UK arm falls into administration: statement

The UK arm of The Body Shop, the near 50-year-old cosmetics company renowned for ethical hair and skin products, has entered bankruptcy, administrators said Tuesday, placing thousands of jobs at risk.

US Senate passes Ukraine aid bill, House likely to reject it

The US Senate on Tuesday approved long-delayed funding for Ukraine's war effort, part of a foreign aid package that right-wing House Speaker Mike Johnson has indicated his Republican-led chamber will reject.

European stock markets drop tracking data

Europe's main stock markets declined in morning trade Tuesday as investors tracked unemployment numbers and looked ahead to US inflation data due later in the session.

Far right could exploit EU's economic slump to win big in June vote

Soaring food costs, economic stagnation and deteriorating living standards risk pushing voters into the far right's arms in European elections later this year, which could shake up the political agenda in Brussels.

Tory Burch wants to make 'everyday sublime' at New York Fashion Week

Striding down the runway to music from The Cure and Joy Division on Monday, models at New York Fashion Week paraded skirts inspired by lampshades -- US designer Tory Burch's celebration of making "the everyday sublime".

Istanbul mosques convert working class faithful to sport

The afternoon prayers have ended in the working-class Istanbul mosque and the silver-haired men turn their gaze from the imam to the sport instructor in a white polo shirt.

Asian markets mixed as traders return, eyes on US data

Asian markets were mixed Tuesday after another record high on Wall Street, with attention on key US inflation data due later in the day, while bitcoin broke $50,000 for the first time in more than two years.

Paris Olympics set for gold medal in luxury promotion

From the podium to athletes' wardrobes, French luxury goods giant LVMH is planning to put high-end Gallic chic at the heart of the Paris Olympics, underlining how sport has become a promotional platform for even the most exclusive brands.

Bitcoin breaks $50,000 for first time since 2021

Bitcoin spiked above $50,000 Tuesday for the first time in more than two years as investors grow optimistic that US approval of broader trading in the unit will ramp up demand.

Asian markets rise as traders return, eyes on US data

Asian markets rose Tuesday after another record high on Wall Street, with all attention on the release of key US inflation data due later in the day.

Big trade deals likely elusive at WTO meet in Abu Dhabi

The world's trade ministers could put the final touches to a historic fisheries deal when they meet in Abu Dhabi later this month, but other landmark agreements will likely prove more elusive.

Power cuts in Syrian capital drive workers, students to cafes

Majida has been working from a central Damascus cafe almost every day for a year, depending on it for reliable electricity and wifi in a country plagued by debilitating power cuts.

Biden on TikTok: 'lol' or national security worry?

US President Joe Biden's debut on TikTok has caused a stir -- not least because the Chinese-owned social media platform is still officially considered a security risk by Washington.

Global stocks mixed ahead of inflation data

The Dow climbed to a fresh record Monday on a mixed day for global equities as markets awaited an influential US inflation report.

US, European stocks advance ahead of inflation data

US stocks pushed further into record territory on Monday as investors awaited US inflation data and other major economic releases due this week.

Gunman kills three at Greek shipping company

A former employee of a Greek shipping company shot dead three people including its owner before killing himself on Monday in a coastal suburb of Athens, police said.

The China Mail - Economy (English)

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