The China Mail - Economy

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Winds of change: Laos looks up for renewables push

Rising from verdant ridgelines of southern Laos, 133 Chinese-built wind turbines help power Vietnam's surging growth and represent part of a regional rush to diversify energy sources.

Trump says US looking 'closely' at report Nvidia CEO target of China spy plot

President Donald Trump voiced on Saturday his support for the "brilliant" head of US chip giant Nvidia, Jensen Huang after a report he was targeted by a Chinese spy plot.

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Netflix partners with Microsoft to offer cheaper streaming plan

Netflix will work with Microsoft to launch a cheaper subscription plan that includes advertisements, the firms said Wednesday, as the streaming giant fights to attract customers.

Rape of 10-year-old jolts US abortion debate

Ohio police have confirmed a 10-year-old rape victim crossed state lines to terminate her pregnancy, local media reported Wednesday, in a case drawing broad attention after the US Supreme Court overturned a federal right to abortion.

US data show big jump in unionization campaigns in fiscal 2022

The number of unionization campaigns has jumped in the 2022 fiscal year, according to federal data released Wednesday, reflecting how the tight US labor market has created opportunity for organized labor.

Twitter shares up after hedge fund bets against Musk

Twitter shares jumped Wednesday after a hedge fund revealed it had taken a stake in the firm based on its "strong case" against Elon Musk for moving to back out of his $44 billion buyout bid.

US consumer prices surge 9.1%, a new 40-year high

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose approval ratings have taken a battering from the relentless rise in prices.

Delta results show strong demand but also cost pressures

Shares of Delta Air Lines tumbled Wednesday as swelling costs pressured quarterly earnings, despite persistently robust demand that so far appears resilient amid inflation.

US consumer prices surge to new 40-year high of 9.1%

US inflation surged to a fresh peak of 9.1 percent in June, further squeezing American families and heaping pressure on President Joe Biden, whose ratings have taken a battering from the relentless rise in prices.

Biden lands in Israel on first Middle East tour as US president

US President Joe Biden started a Middle East tour on Wednesday in Israel, where leaders will urge tougher action against their common foe Iran, before a delicate stop in oil-rich Saudi Arabia.

European stocks fall before key US inflation data

European equities fell Wednesday with traders on edge before key June inflation data in the United States.

Protesters storm Sri Lanka PM's office after President flees abroad

Protesters in Sri Lanka defied tear gas, water cannon and a state of emergency to storm the prime minister's office on Wednesday after the president fled overseas, with the crowd demanding both men step down in the face of an economic crisis.

Maestro of Alpine climbing dies aged 99

Marcel Remy, the grand old man of Swiss Alpinists and one of the oldest active climbers in the world, has died aged 99, newspapers and several specialist websites reported Wednesday.

Supply risks still haunt market despite high oil prices: IEA

High oil prices have yet to dampen demand which is set to continue rising and may soon outstrip supply, the International Energy Agency warned Wednesday.

Biden heads to Israel on first Middle East tour as US president

US President Joe Biden was Wednesday to start a Middle East tour in Israel, where leaders will urge tougher action against their common foe Iran, before a delicate stop in oil-rich Saudi Arabia.

Sri Lanka declares state of emergency after president flees to Maldives

Sri Lanka declared a state of emergency Wednesday as thousands of people mobbed the prime minister's office after the country's president flew to the Maldives, following months of widespread protests against an economic crisis.

Panama protests continue despite fuel and food price cuts

Thousands of Panamanians took to the street again on Tuesday to protest rising inflation and government corruption, despite the announcement of price cuts for fuel and some food products.

China growth slumps on virus lockdowns, real estate woes: poll

China's economic expansion slumped in the second quarter to levels not seen since early 2020, an AFP poll of analysts found, owing to painful Covid lockdowns and lingering weakness in the real estate sector.

Asian markets fluctuate as oil, euro struggle on recession fears

Asian markets fought Wednesday to recover some of the losses suffered at the start of the week as recession alarms continue to ring loud and oil struggled to erase the previous day's sharp drop owing to growing demand fears.

Mexican schoolboy set on fire for being Indigenous

A Mexican schoolboy was set on fire and badly burned in a classroom -- his "only crime" was speaking an Indigenous language in a country struggling to end racial discrimination.

Two charged with laundering in $1.2 bn Venezuelan fraud case

A Swiss and an Argentine were charged in Miami Tuesday with helping launder part of $1.2 billion taken from Venezuelan state oil firm PDVSA in a long-running corruption and bribery investigation.

Brent oil closes under $100/barrel for first time since April

Brent oil futures closed Tuesday under $100 a barrel for the first time in three months as recession worries cloud the near-term outlook for crude demand.

Euro drops to dollar parity as eurozone recession fears mount

The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone.

Panama government reduces fuel prices in face of protests

Panama's president announced a reduction in gasoline prices and freezing of rates for several other essential products Monday in the face of continuing protests against inflation and corruption.

Apple's self-driving car effort stuck in low gear: report

Apple's quest to produce a viable self-driving car remains stalled despite years of work, with its team plagued by setbacks as rivals race ahead, The Information tech news website reported Monday.

Elderly Indonesian culinary legend's sweet treats stand the test of time

As the morning twilight approaches in an Indonesian city famed for its street food scene, a queue of sleepy customers snakes its way along the road in anticipation of a local culinary legend.

Global stocks mostly fall ahead of key US inflation data

Global stock markets mostly fell Monday as investors digested fresh Covid-19 restrictions in China and braced for a key US inflation report, while the dollar strengthened against other currencies.

Twitter stock sinks as Musk mocks lawsuit threat

Twitter shares plunged Monday as Elon Musk issued a mocking, defiant commentary about a looming court battle after he ditched a $44 billion buyout of the social media giant.

Lobbyist Mark MacGann comes out as Uber Files whistleblower

Lobbyist Mark MacGann on Monday came out as the whistleblower who leaked thousands of compromising documents on US ride-hailing firm Uber to British newspaper The Guardian.

Market values are destroying nature: UN report

A major UN report warned Monday that a global economy focused on short-term profit is wrecking the planet and called for a drastically different approach as to how we value nature.

Twitter stock falls as Musk mocks lawsuit threat

Twitter shares tumbled Monday as Elon Musk issued a mocking, defiant commentary about a looming court battle after he ditched a $44 billion buyout of the social media giant.

Argentina will honor economic goals agreed with IMF: new minister

Argentina's new economy minister said Monday the country would honor fiscal deficit goals and other commitments made under a deal struck with the IMF to refinance a debt of some $44 billion.

China lockdown fears hit equities, oil prices

Stock markets and oil prices slid Monday with a fresh Covid flare-up in Shanghai fanning fears of another painful lockdown in China's biggest city.

Sri Lanka president near airport as exile rumours spread

Sri Lanka's embattled president was flown to an airbase near the main international airport Monday, officials said, raising speculation he will flee into exile abroad.

The China Mail - Economy (English)