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US Fed holds interest rates steady despite 'too high' inflation

The US Federal Reserve on Wednesday held interest rates steady, even as its Chairman Kevin Warsh said inflation remained "too high" but insisted that politics played no part in the central bank's decision not to continue raising rates days before crucial midterm elections.

Pioneering US labor leader Dolores Huerta dies at 96

Dolores Huerta, the US labor leader and civil rights icon whose union work changed the lives of migrant workers, has died, her family said Wednesday. She was 96.

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Thousands protest Argentina's debt deal with IMF

Several thousand protesters marched in Buenos Aires on Tuesday to denounce the agreement reached between the government of centre-left President Alberto Fernandez and the IMF on the repayment of a $44 billion loan.

Oil prices fall as tensions ease, stocks mostly advance

Oil prices fell Tuesday on easing geopolitical concerns surrounding major crude producers Iran and Russia while stock markets mostly moved higher.

NGO files complaint over dead fish deluge off French coast

Environmental organisation Sea Shepherd on Tuesday filed a legal complaint against the owners of a large fishing vessel after tens of thousands of dead fish were spotted off France's Atlantic coast.

Europe to cut funds for Poland over unpaid fine

The European Commission said Tuesday it would take the unprecedented step of tapping into EU funding earmarked for Poland to collect a fine Warsaw racked up for refusing to close a coal mine.

Pfizer sees Covid-19 drug sales topping $50 bn in 2022

Pfizer forecast more than $50 billion in 2022 sales for its Covid-19 vaccine and therapeutic on Tuesday as the pharmaceutical giant reported a more than doubling of annual profits on strong sales of its innoculation.

BP swings into profit, accelerates carbon reduction

BP returned to profit in 2021 as oil and gas prices surged, rebounding from a huge loss the prior year when the pandemic struck, the British energy giant revealed Tuesday as it also accelerated plans to cut carbon emissions.

iPhones to work as digital payment points in US

Apple announced Tuesday a new service that will allow US businesses later this year to accept payments on their iPhones from touchless cards or other iPhones, a new challenger in the booming payments business.

Oil prices fall as tensions ease, stocks advance

Oil prices fell Tuesday on easing geopolitical concerns surrounding major crude producers Iran and Russia while stock markets mostly moved higher.

Oil prices fall as tensions ease

Oil prices fell Tuesday on easing geopolitical concerns surrounding major crude producers Iran and Russia while stock markets traded mixed.

Ex-pope Benedict XVI asks for forgiveness over sex abuse scandal

Ex-pope Benedict XVI asked for forgiveness Tuesday for clerical child sex abuse committed on his watch, but aides rejected allegations of a cover-up while he was archbishop of Munich.

Macron sees path to calm Russia tensions after Ukraine push

French President Emmanuel Macron said Tuesday he saw a path forward on easing tensions with Russia over Ukraine, after conducting an urgent round of shuttle diplomacy between Moscow and Kyiv.

Formula One bosses scrap knee-taking ritual before races

Formula 1 boss Stefano Domenicali says drivers will no longer be given the formal opportunity to take a knee before races, stressing that it is now time for "action" to increase diversity in motorsport.

Pfizer's 2021 profits doubled to $22 bn on strong Covid vaccine sales

Pfizer said Tuesday it expects $32 billion in revenue from Covid-19 vaccines in 2022 as it reported annual profits had more than doubled to $22 billion.

Stock markets steady, oil prices fall

Stock markets largely steadied Tuesday while oil prices fell on easing geopolitical concerns surrounding major crude producers Iran and Russia.

BP swings into $7.6 bn annual profit after huge loss

BP returned to profit in 2021 as oil and gas prices surged following a huge loss the prior year when the pandemic struck, the British energy giant revealed Tuesday.

Nissan hikes net profit forecast again despite chip shortage

Nissan on Tuesday hiked its annual net profit forecast again on strong quarterly results, aiming to weather the global chip shortage as it shifts focus to electric vehicles.

SoftBank's $40 bn sale of chip group Arm to Nvidia collapses

Japan's SoftBank confirmed Tuesday that the $40 billion sale of chip business Arm to Nvidia had collapsed because of "significant regulatory challenges" over concerns about competitiveness, and said it planned to now take the unit public.

SoftBank's sale of chip group Arm scrapped over regulator challenges

Japan's SoftBank confirmed Tuesday the collapse of a $40 billion deal to sell chip business Arm to Nvidia because of "significant regulatory challenges" over concerns about competitiveness.

Australia PM apologises for abuse, bullying in parliament

Australia's prime minister apologised for widespread sexual harassment, abuse and bullying of political staff Tuesday, a year after a high-profile rape allegation rocked the country's parliament.

Chinese women's Asian Cup win sparks calls for gender pay equality

The dramatic triumph of China's women footballers at the Asian Cup has sparked calls on social media for equal pay, with commenters contrasting their performance with the dismal men's side.

Chinese drug giant halts trading as US move triggers stock plunge

Wuxi Biologics suspended trading in Hong Kong on Tuesday following a record slump in its share price, after Washington added the Chinese pharmaceutical giant to a list that could restrict its US operations.

Asian markets mostly rise but inflation data, Fed plans in focus

Asian markets mostly rose Tuesday as investors await key US inflation data later in the week, though the volatility that has characterised the year so far is expected to continue as central banks bring an end to the era of cheap cash.

Mired in poverty, dozens of Lebanese join jihadists in Iraq

Zakaria al-Adl was presumed to have attempted a sea escape to Europe after he had gone missing over the summer, but then the young Lebanese man turned up dead in Iraq.

Nvidia to scrap $40bn takeover of chip firm Arm: report

US firm Nvidia is scrapping its $40 billion bid to buy UK mobile chip technology powerhouse Arm from SoftBank after persistent objections from regulators, the Financial Times reported Tuesday.

Lockheed Martin wins NASA contract to bring Mars samples back to Earth

Lockheed Martin's space division has won a NASA contract to build the rocket that will return the first Mars rock samples to Earth in the 2030s, the US space agency said Monday.

World must work together to tackle plastic ocean threat: WWF

Plastic has infiltrated all parts of the ocean and is now found "in the smallest plankton up to the largest whale" wildlife group WWF said on Tuesday, calling for urgent efforts to create an international treaty on plastics.

US eases Trump-era tariffs on Japanese steel

The United States will ease tariffs on steel imported from Japan, officials announced Monday, in the latest move by President Joe Biden's administration to resolve trade disputes started under his predecessor Donald Trump.

'Freedom Convoy' raises funds on Christian site after GoFundMe cutoff

The organizers of a trucker-led protest in Canada against Covid mandates have turned to a Christian fundraising site after being cut off by the popular GoFundMe platform.

No plans to quit Europe amid data spat: Facebook's Meta

Facebook's parent firm Meta said Monday it has no plans to pull its services from Europe, after raising the possibility amid an ongoing row over transferring European data to the United States.

Mountain glaciers hold less ice than thought, and that's bad news

Mountain glaciers shrinking due to climate change are less voluminous than previously understood, putting millions who depend on them for water supply at risk, researchers reported Monday.

Stocks waver as traders eye rate hikes, Ukraine

European stock markets rose on Monday but Wall Street fell as investors track corporate earnings, expected interest rate hikes and the standoff over Ukraine.

Stocks rise as traders eye rate hikes, Ukraine

Stock markets in the United States and Europe mostly rose Monday as investors track corporate earnings, expected interest rate hikes and the standoff over Ukraine.

The China Mail - Economy (English)