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US eyes 'extraordinary measures' to avoid default next week: Yellen
The US Treasury Department said Friday it will likely begin "extraordinary measures" next week to prevent a default on government debt, setting up a high-stakes showdown in Congress over raising the nation's borrowing limit.
Europe stocks extend gains on slowing inflation, upbeat data
Equities in Europe and Asia mostly rose Friday as slowing US inflation fuelled speculation the Federal Reserve would take a softer approach to its monetary tightening campaign, though New York stocks were more tentative on bank downturn worries.
Tesla slashes vehicle prices up to 20% in US, Europe
Tesla on Friday announced it will cut the price of its best-selling electric vehicle models up to 20 percent in Europe and the United States, launching a price war as more rivals hit the market.
Big US banks report mixed earnings and gird for 'mild recession'
Major US banks reported mixed fourth-quarter results Friday as executives pointed to the rising odds of a "mild recession," with inflation and interest rate hikes challenging households and businesses.
Travel demand boosts Delta results but labor costs dent profit forecast
Delta Air Lines on Friday reported better-than-expected results in the final months of 2022, helped by strong consumer demand, although it expects labor costs to weigh on first quarter profits this year.
JPMorgan Chase girds for 'mild recession' as Q4 profits rise
JPMorgan Chase reported higher fourth-quarter profits Friday, boosted by income tied to increasing interest rates as the big bank set aside more funds in case of a recession.
Sweden inaugurates new satellite launch site
Just days after a failed UK satellite launch, Sweden inaugurated Friday its new launching site as the race heats up to be first country to send satellites into orbit from the European continent.
China operates first domestic Boeing 737 MAX flight since 2019
A Boeing 737 MAX took off from southern China on Friday, the first domestic flight using the aircraft model since March 2019 when it was grounded after two deadly crashes.
German economy holds up in 2022, despite Ukraine war fallout
The German economy grew a better-than-expected 1.9 percent in 2022, official data showed Friday, as government relief measures cushioned Europe's export giant from an energy crisis triggered by the Ukraine war.
Three frontrunners as Czechs vote for new president
The Czech presidential election is to kick off on Friday with a billionaire, a general and an academic leading a likely two-round vote seen as too close to call.
UK economy wins World Cup boost but recession looms
Britain's economy unexpectedly grew in November as consumers splurged during the World Cup, official data showed Friday, but analysts warned that it remains on course for recession due to the cost-of-living crisis.
German pawnbrokers offer a quick fix to inflation pain
At a pawn shop in the west German city of Duisburg, a young woman hands over a mobile phone and in return gets a wad of cash to help make ends meet -- for a while.
Cameroon's 'funeral music' gives voice to frustrated youth
It began as a form of music chanted at wakes to comfort mourners -- now it is part of Cameroon's cultural mainstream, and a powerful form of expression for its frustrated youth.
UK economy posts surprise growth in November: data
Britain's economy unexpectedly grew in November, official data showed Friday, but it is widely tipped to enter recession this year as the country faces a cost-of-living crisis.
Auctioneers eye new record for Tintin artwork at sale
Known around the world for his blond quiff and daring adventures, Belgian comic book hero Tintin is setting the art world astir with an original illustration that could set a new record at auction.
Leading trio do battle to become Czech president at polls
A billionaire, a general and an academic are favourites going into the first round of the Czech presidential election that begins Friday and concludes on Saturday and is seen by observers as too close to call.
China imports, exports plunge in December: customs
China's exports in December fell at their fastest pace since 2020, according to official data Friday, owing to a drop in global demand and after health restrictions hit economic activity at home.
Top woman conductor says Blanchett's 'Tar' is 'misogynistic'
"Tar" is tipped to win Cate Blanchett a third Oscar for her role as a power-hungry conductor, but for one real-life pioneer in the job, the film does a "disservice to women".
De La Soul finally stream albums after years of legal woes
Hip-hop pioneers De La Soul are finally releasing their classic early hits on streaming platforms from Friday after decades-long battles over their samples.
'Thank God you're alive': tears, grief as phones ring again in Tigray
Beniam Yetbarek didn't even know his cousin was alive when the phone rang on Christmas Eve, and a voice he hadn't heard in two years crackled down the line from Tigray.
German economy weathering hard winter but risks loom
The surge in energy prices that followed Russia's invasion of Ukraine has pushed Germany to the brink of a recession, but the economic pain appears to be less severe than originally feared.
Full brunt of financial tightening yet to materialize: IMF
Countries have yet to see the full impact of tightening financial conditions, IMF chief Kristalina Georgieva said Thursday, warning that central banks have some way to go in their inflation battle.
Turkey lashes out at Sweden over Kurdish tweet
Turkey on Thursday summoned Sweden's ambassador to lodge an angry protest over a video posted by a Kurdish group in Stockholm that depicted President Recep Tayyip Erdogan swinging by his legs from a rope.
Stocks rise as US inflation falls
Europe and US stock markets rose Thursday as investors digested data showing a softening of US consumer inflation, potentially giving the Federal Reserve room to slow its interest rate hikes.
UN calls for urgent help to combat acute child malnutrition
The United Nations called Thursday for urgent funding to help 30 million children suffering from acute malnutrition "before it is too late" in countries being hammered by the food crisis.
US inflation hits slowest pace in over a year amid hopes of less hawkish Fed
Consumer inflation in the United States slipped in December to the lowest level in over a year, government data showed on Thursday, signaling the worst of red-hot price increases may be over.
UAE agrees to roll over Pakistan debt, add $1 billion more
The United Arab Emirates has agreed to roll over $2 billion owed by Pakistan and provide the country with an extra loan of $1 billion, Islamabad said Thursday.
Stocks mostly up before key US inflation data
Global stock markets mostly rose Thursday before data that is widely expected to show another softening of US consumer inflation, giving the Federal Reserve room to slow its interest rate hikes.
Harry tell-all book 'Spare' sells 1.4 mn copies on first day
Prince Harry's autobiography "Spare" sold 1.4 million English-language copies on its first day in the UK, United States and Canada, publisher Penguin Random House said on Thursday.
UAE names oil chief to head COP28 climate talks
The head of the United Arab Emirates' national oil company was named Thursday as president of this year's COP28 climate talks, prompting fierce criticism from environmental activists.
China lockdown hits Uniqlo parent's first-quarter profit
Fast Retailing, the parent company of Japanese clothing giant Uniqlo, said Thursday its net profit for the first quarter slid 9.1 percent because of the Covid-19 lockdown in China.
Analysts expect slowing US inflation, fueling hopes of less hawkish Fed
Consumer inflation in the United States is set to ease further in December, analysts say, in an encouraging trend that could bring some reprieve from rising interest rates.