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ECB sticks to the plan as inflation, Ukraine shake eurozone
The European Central Bank on Thursday stood still in the face of record inflation, keeping its stimulus plans and rates unchanged, as the war in Ukraine cast a pall over the eurozone economy.
Bankrupt Sri Lanka looks to expand airline fleet
Cash-strapped Sri Lanka's loss-making national carrier revealed plans Thursday to lease up to 21 aircraft, just two days after the government announced a default on its $51 billion foreign debt.
Without official aid, Durban flood victims dig themselves out
Entering their fourth day without power or water, Durban's poorest residents lined up on Thursday to collect water from burst pipes and dug through layers of mud to retrieve their few possessions.
Citigroup sets aside $1.9 bn due to Russian-Ukraine conflict
Citigroup said Thursday it set aside $1.9 billion in reserves due to Russia's invasion of Ukraine, which was one factor driving a drop in the bank's quarterly earnings.
Turkey again refuses to raise rates to fight record inflation
Turkey's central bank on Thursday brushed aside an inflation reading that has soared past 60 percent and kept its benchmark interest rate steady for the fourth month in a row.
ECB holds tight as inflation tide rises
The European Central Bank on Thursday stood still in the face of record inflation, keeping its stimulus plans and rates unchanged, as the war in Ukraine cast a pall over the eurozone economy.
Eurozone stocks, euro higher before ECB update on rates
Eurozone stock markets and the euro rose Thursday awaiting the outcome of the European Central Bank's latest monetary policy meeting, as traders seek more information on when it will start to raise interest rates to fight the bloc's record-high inflation.
Sri Lankans abandon holiday celebrations for protests
Life usually stops in Sri Lanka's capital during April's holiday period, but with an economic crisis derailing traditional home celebrations, Colombo's city centre is instead teeming with frustrated crowds.
UK to send asylum-seekers to Rwanda
Britain is to send migrants and asylum-seekers who cross the Channel thousands of miles away to Rwanda, according to a controversial deal announced Thursday as the government tries to clamp down on record numbers of people making the perilous journey.
Volkswagen sees impact of Ukraine war despite profit bounce
German auto giant Volkswagen said Thursday its first quarter operating profit increased significantly in 2022, while warning that the "first effects" of the war in Ukraine were beginning to be felt.
Taiwan's TSMC reports record first-quarter revenue
Taiwanese tech giant TSMC posted record revenue for the first three months of the year Thursday as demand soared for chips used in everything from smartphones and cars to missiles.
Asian, eurozone markets rise but inflation haunts outlook
Asian and eurozone stocks rose Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.
Uniqlo operator lifts profit outlook despite China lockdowns
Fast Retailing, the operator of Japanese casualwear giant Uniqlo, revised its annual net profit forecast upwards on Thursday even as business in China is hit by fresh lockdowns.
Judge slashes Tesla's damages to ex-employee in racism case
A San Francisco judge on Wednesday slashed the $137 million in damages Tesla was told to pay a former employee in a racial discrimination case down to $15 million but upheld the verdict.
Asian markets rise but inflation, Ukraine fears linger
Asian stock markets mostly rose in early trade Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.
ECB wrestles with record inflation and war risk
European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and weak growth due to the war in Ukraine.
Biden's biofuel: Cheaper at the pump, but high environmental cost
In an effort to ease Americans' pain at the gas pump, President Joe Biden has announced his administration will ease restrictions on the sale of E15 -- gasoline that includes 15 percent ethanol -- and new investments in biofuels as a whole.
Global stocks mostly up despite another historic inflation report
Stock markets mostly rose and oil prices climbed Wednesday as investors pored over data showing further spikes to inflation.
Argentines march for jobs, food, amid rampant inflation
Thousands of Argentines marched Wednesday for jobs, food, and more social aid as rampant inflation undermines government efforts to raise living standards.
International agencies call for urgent aid to address food insecurity
Major international organizations issued an appeal Wednesday for urgent measures to deal with rising food insecurity in poor countries, including financing to support farmers and increase food supplies.
Half of US warehouse injuries in 2021 at Amazon: unions
Nearly half of all recorded injuries in US warehouses last year occurred at Amazon, according to a report released Tuesday by a coalition of unions.
Stocks, oil rise as inflation soars
Stock markets mostly rose and oil prices climbed Wednesday as investors pored over data showing further spikes to inflation.
Delta shares fly as strong demand offsets jet fuel drag
Delta Air Lines offered an upbeat outlook for the summer travel season on Wednesday, saying strong demand is providing enough pricing power to make up for soaring fuel costs.
JPMorgan Chase says US economy still solid, but risks rising
JPMorgan Chase said the US economy remains on solid footing for the short-term, but warned of heightened longer-term risks due to inflation and the Ukraine war as its reported lower quarterly profits.
India's Infosys to exit Russia business
Indian software giant Infosys said Wednesday it was "transitioning" out of the Russian market following the Ukraine war and conflict of interest accusations levelled at Rishi Sunak, the British finance minister.
Stocks diverge while oil gains tracking soaring inflation
Stock markets diverged Wednesday as investors pored over data showing further spikes to inflation, while oil prices extended gains.
JPMorgan Chase profits fall 42%; warns of hit from inflation, Ukraine
JPMorgan Chase reported Wednesday that quarterly earnings tumbled as the banking giant set aside $902 million for bad loans, citing "downside risks" including the Ukraine war and surging inflation.
Stocks mostly fall, oil gains tracking soaring inflation
Stock markets mostly fell and oil prices extended gains Wednesday as investors pored over data showing further spikes to inflation.
iPhone, Macbook makers halt Shanghai production over Covid
Several electronics companies, including iPhone and Macbook makers, have halted production in the Chinese cities of Shanghai and Kunshan, adding to supply chain woes under Beijing's strict zero-Covid measures.
Asian stocks shrug off red-hot US inflation
Many Asian markets made gains Wednesday, despite losses on Wall Street and across Europe sparked by data showing red-hot US inflation.
UK inflation strikes 30-year high
Britain's annual inflation rate soared to the highest level in three decades last month as energy prices rocket, official data showed Wednesday, worsening a cost-of-living crisis.
Bankrupt Sri Lanka asks citizens abroad to send home cash
Sri Lanka urged its citizens overseas to send home money to help pay for desperately needed food and fuel Wednesday after announcing a default on its $51 billion foreign debt.
Yen drops to 20-year low against dollar
The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and Fed tightening.
Tattoos embellish scars, heal wounds in Brazil
Standing in front of the mirror, Marlene Silva dos Santos admires the new tattoo splashed across her chest, covering the circular surgery scar left by the Brazilian 51-year-old's battle with breast cancer.
iPhone maker Pegatron halts Shanghai production over Covid
Key iPhone maker Pegatron has halted operations at two subsidiaries in the Chinese cities of Shanghai and Kunshan, as global supply chains feel the pinch of Beijing's strict zero-Covid measures.
Mayor exhumed as Ukraine confronts grim cost of war
The funeral of the Gostomel mayor plays out in reverse. His body is pulled out from the ground, the crowd of mourners disperses, then a priest hugs his weeping wife and says a few kind words.
Asian stocks mostly up despite red-hot US inflation
Asian markets mostly started Wednesday with gains, despite a day of losses on Wall Street and across Europe sparked by data showing red-hot US inflation.
For Biden's battered approval, 'nothing else matters' like inflation
Historically low joblessness is the kind of thing American leaders dream of, but President Joe Biden also has nightmarishly high inflation that supporters and opponents alike believe may cost his Democratic Party dearly.
Driverless car stopped in San Francisco puzzles cops
San Francisco police faced an unprecedented problem recently when an officer stopped a car that was driving at night with no headlights on, only to discover there was no one inside.