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Asian stocks mixed as tech sector struggles to rebound from selloff

Asian stocks were mixed Monday as investors struggled to recover from last week's tough run fuelled by disappointing earnings from tech titans, while eyes were also turning to the United States ahead of crucial midterm elections.

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BoE chief says '3 days left' on bond intervention

Bank of England chief Andrew Bailey said Tuesday bond investors have "three days left" until the British central bank phases out emergency bond-buying efforts.

Biden to 're-evaluate' Saudi ties after OPEC snub

President Joe Biden is to "re-evaluate" the US relationship with Riyadh, the White House said Tuesday, after a Saudi-led coalition of oil-producing nations sided with Russia to slash output.

BoE struggles to calm markets after latest intervention

The Bank of England struggled Tuesday to reassure investors after unveiling yet more measures to calm markets rocked by the British government's tax-cutting mini-budget, as the International Monetary Fund renewed warnings about their divergent policies.

EU energy chief praises Algeria 'partnership'

The European Union's energy commissioner hailed a "long-term strategic partnership" with Algeria Tuesday as the bloc turns to Africa's biggest gas exporter to fill a gap left by Russian supplies.

IMF cuts 2023 global growth, warns major economies to stall

Global growth is expected to slow further next year, the IMF said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiraling cost-of-living and economic downturns.

Thunberg says 'mistake' for Germany to use coal over nuclear

Climate activist Greta Thunberg on Tuesday said it was a "mistake" for Germany to shut down existing nuclear power plants while ramping up coal usage to tackle an energy crisis.

Grief and outrage in Gambia over cough syrup deaths

When Wuri Bailo Keita's two-year-old daughter Fatoumatta developed a fever, he took her to hospital where she was diagnosed with malaria and sent home with a prescription for a paracetamol syrup.

Equities, oil prices slide on recession fears

Stock markets and oil prices slumped Tuesday as investors grow increasingly fearful that more big interest rate hikes will tip economies into deep recessions.

Families gather for cremation of Thai nursery attack victims

Devastated families gathered Tuesday for the cremation of their loved ones killed in a Thai nursery massacre that claimed 36 lives including 24 children.

Shielding Ukraine from Russian strikes a challenge: analysts

Russia's deadly air strikes on Ukraine's cities this week have triggered calls for more military aid, but analysts warn than no air-defence systems can completely defend Ukrainian territory.

Israel hails 'historic' sea border deal with Lebanon

Israel said Tuesday it has reached a US-brokered agreement with Lebanon to settle their long-disputed maritime border, hailing a "historic achievement" that potentially unlocks significant offshore gas production for both countries.

Winter power shortages won't worry off-grid Swiss valley

While people across Europe are being urged to save energy this coming winter to avert power shortages, Switzerland's Bavona Valley is unfazed, having never been plugged into the power network.

France threatens to break refinery blockades in strike standoff

The French government on Tuesday threatened to forcibly break blockades of refineries and oil depots, which have been paralysed by striking workers, as motorists continued to besiege petrol stations in the hope of filling their tanks.

Silicon Valley billionaire Milner renounces Russian citizenship

Billionaire Silicon Valley investor Yuri Milner said Monday he had renounced his Russian citizenship.

BoE widens action on 'UK financial stability' fears

The Bank of England on Tuesday unveiled yet more measures aimed at calming markets rocked by a UK budget as it warned over risks to the nation's financial stability.

Israel says close to 'historic' maritime deal with Lebanon

Israel said Tuesday it was close to a "historic" deal with Lebanon to resolve a long-running dispute over their border in Mediterranean waters that boast rich gas reserves, after a US-drafted proposal met Israeli "demands".

Asian chipmakers plunge after US unveils China export controls

Chipmakers plunged in Asian trade Tuesday over new US measures to limit China's access to high-end semiconductors with military uses, a move that wiped billions from companies' valuations worldwide.

The Andes crash and cannibalism tale that stunned the world 50 years ago

On October 13, 1972, a plane carrying an amateur Uruguayan rugby team, along with relatives and supporters, to an away match in Chile crashed in the Andes with 45 people on board.

World failing to address 'dangerous' inequality after Covid: Oxfam

The world has mostly failed to address a "dangerous" increase in inequality in the wake of the Covid pandemic, anti-poverty campaigners Oxfam said Tuesday.

Dollar extends 2022 surge as market awaits key US inflation data

The dollar extended its banner run of 2022 on Monday, pushing higher following the latest solid US jobs data as equities retreated in both New York and Europe.

Red Bull found guilty of breaching F1 cost cap: the FIA

Red Bull and Aston Martin have been found in breach of Formula 1 financial rules, the motor sports governing body (FIA) announced on Monday, saying any punishment would be decided at a later date.

Stocks slip, dollar rises as US rate hikes seen

Global stocks slid on Monday as investors braced for more large interest rate hikes from the Federal Reserve.

No relief for French motorists as petrol strike hardens

Filling stations across France were low on petrol on Monday as a strike by workers at energy giant TotalEnergies entered its third week despite government pressure to negotiate.

Record quarterly profit for Indian software giant TCS

India's largest software exporter Tata Consultancy Services on Monday shrugged off global economic turmoil to report a record profit for any quarter, with figures that beat analyst estimates.

Air France, Airbus trial opens over 2009 Rio-Paris crash

A French trial of Air France and Airbus began Monday on charges of involuntary manslaughter over the fatal 2009 crash of a jet heading to Paris from Brazil, killing all 228 people aboard.

German experts propose energy price cap from next year

A price cap to reduce soaring German energy costs following Russia's invasion of Ukraine should come into force next year with additional help provided beforehand, a government-appointed commission recommended Monday.

Britain unveils fresh action to calm markets turmoil

Britain on Monday ramped up efforts to calm markets after a heavily criticised budget, with the government bringing forward key economic forecasts and the Bank of England boosting liquidity.

Stocks down, dollar up as markets expect more big US rate hikes

Stock markets mostly retreated and the dollar firmed Monday as forecast-beating US jobs data fanned expectations for more large interest rate hikes from the Federal Reserve.

US trio, including ex-Fed chief Bernanke, win economics Nobel

A US trio on Monday won the Nobel Economics Prize for research on banking's role in the economy, especially on the importance of avoiding collapses during financial crises.

'Born to fly': Indian pilot blazes trail for women in aviation

India has the world's highest rate of women pilots, but when Zoya Agarwal said she dreamed of conquering the skies, her mother cried and told her to wait for a "suitable boy" to marry instead.

She's training men: Bahrain hoopster breaks the mould

It's an unusual sight in the conservative Gulf state of Bahrain: a young mother in an indoor basketball court is instructing the male players.

Instagram, Twitter restrict Kanye West accounts over posts deemed anti-Semitic

Instagram and Twitter said they have restricted the accounts of US rapper Kanye West over posts slammed as anti-Semitic.

The China Mail - Economy (English)