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New chief at Libya's key oil firm, US warns against confrontation

Libya's government replaced the head of the key National Oil Corporation on Thursday in a dramatic move that prompted the United States to warn against any "armed confrontation" over the sector.

Sri Lanka president submits resignation from Singapore: official

Sri Lanka's president submitted his resignation Thursday shortly after reaching Singapore, the parliamentary speaker's office said, days after the head of state fled protests triggered by his country's worst-ever economic crisis.

Stocks, oil drop on fresh inflation spikes

Stock markets mostly retreated Thursday as fresh evidence of runaway global inflation ramped up expectations of more aggressive interest rate hikes by central banks.

UN urges Africa to swap commodities for tech

The UN's trade body on Thursday said African economies were vulnerable to a triple shock as it urged governments to pave the way for tech startups that would ease dependence on commodities.

Outage hits Twitter service in US, Europe

Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday -- fresh turbulence for the firm locked in a buyout battle with Elon Musk.

JPMorgan Chase reports lower profits, gives cautious economic outlook

JPMorgan Chase reported a drop in second-quarter profits on Thursday, reflecting the impact of a weakening macroeconomic outlook that led it to set aside funds in case of bad loans.

Omanyala gets last minute visa reprieve for Worlds

Africa's fastest man Ferdinand Omanyala on Thursday said he would compete in the World Athletics Championships in Oregon after being granted a last-minute visa to travel to the United States.

Morocco's king endorses new Jewish organisations

Morocco's King Mohammed VI has authorised a reorganisation of the country's Jewish community, a "component" of national culture in the North African country, according to the royal palace.

Asian markets swing as US inflation spikes see rate hike bets soar

Asian markets were mixed Thursday as another forecast-busting US inflation print ramped up bets on a quick series of sharp interest rate hikes by the Federal Reserve as other central banks also race to tighten.

Libya's oil firm chief resists move to replace him

Libya's Tripoli-based government has named a new head of the state oil company to replace veteran technocrat Mustafa Sanalla, who refused to give up his post.

Chinese homebuyers halt mortgage payments on unfinished projects

Chinese homebuyers in dozens of cities have stopped making mortgage payments for unfinished projects, according to data from industry groups, worsening fears of financial contagion in the country's troubled real estate sector.

Asian markets swing as US inflation spike leaves mixed feelings

Asian markets fluctuated Thursday as another forecast-busting US inflation print ramped up bets on a quick series of sharp interest rate hikes that traders hope can be quickly walked back once prices are brought under control.

UK 'jobs miracle' turns into employers' nightmare

Job vacancies seem to come ten-a-penny in Keswick, a tourist town in England's picturesque Lake District, as the hospitality sector cries out for staff -- shortages which are a direct result, critics say, of the coronavirus pandemic and of Brexit.

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.

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