Bombay Durpun - Economy

Asia stocks mixed as profit-taking, tech woes offset catch-up play

Asian markets were mixed Thursday, with a split between those suffering from profit-taking following a recent rally and those that were playing catch-up after a midweek break across much of the region.

Scraping a living: salt offers women lifeline in Yemen

Scooping up handfuls of white crystals from coastal pools, a group of women in Yemen harvest salt -- a traditional industry proving to be a lifeline after seven years of war.

Lisa Cook, expert on economic scars of racism, now Biden Fed nominee

A researcher focused on how discrimination has harmed the American economy and the damage downturns do to the poor, Lisa Cook would bring a new perspective to the US central bank.

Biden's Fed board nominees become political footballs

Though set up as an institution operating above the partisan fray in Washington, the Federal Reserve has again become a political football, with Republicans and business groups attacking President Joe Biden's nominees to serve on the central bank's board.

NFT museum opens its doors in United States

A museum dedicated to NFTs -- the blockchain-based creations that have taken the artworld by storm -- has opened its doors in the United States.

The NFT artist who sold a trashcan image for $252,000

Marcel Duchamp scandalised the art world in 1917 by submitting a urinal as his entry to a prestigious competition. A century later, an American artist known as Robness sparked his own controversy by selling an NFT of a rubbish bin for $252,000.

Meta's profit slips as Facebook loses users

Facebook's parent firm Meta on Wednesday delivered a gloomy mix of a sharper-than-expected drop in profit, a decrease in users and threats to its ad business that plunged shares some 22 percent in after-hours trading.

SpaceX rocket successfully launches US spy satellite

A US intelligence agency said Wednesday that its newest spy satellite successfully launched into orbit atop a reusable SpaceX Falcon 9 rocket.

Brazil hikes key interest rate to double digits

Brazil's central bank hiked its benchmark interest rate by 1.5 points Wednesday to 10.75 percent, bringing it into double digits for the first time in nearly five years to fight rampant inflation.

Spotify shares fall on worries over slowing growth amid Rogan row

Shares of Spotify tumbled Wednesday after the music streaming service -- roiled in controversy over its star podcaster Joe Rogan -- projected lower profit margins in the coming earnings period as subscriber growth slows.

Facebook parent Meta's profit slips as problems pile up

Facebook's parent firm Meta delivered unsteady results Wednesday, with threats to its key ad business, big expenses on its metaverse vision and a weaker forecast that plunged shares some 20 percent in after-hours trading.

Armenia, Turkey resume first flights in two years

Historic rivals Turkey and Armenia on Wednesday resumed their first commercial flights in two years as part of cautious efforts to warm their frozen ties.

Facebook parent Meta's profit slips

Facebook's parent firm Meta on Wednesday posted a $10 billion quarterly profit that missed expectations alongside a downbeat forecast, sending shares plummeting some 20 percent in after-hours trading.

Uncrewed Artemis I mission to Moon pushed back

The first mission in NASA's program to take humans back to the Moon has been delayed until spring at the earliest, the US space agency said Wednesday, saying it needed more time to complete safety checks.

Sri Lanka seeks IMF advice amid worsening crisis

Sri Lanka has asked for "advice" from the International Monetary Fund amid a worsening economic crisis, the finance minister said Wednesday, signalling Colombo could seek an international bailout.

Germany blocks German-language Russian channel

The German broadcasting regulator said Wednesday it had banned the transmission of the German-language channel of Russian state broadcaster RT, with Moscow vowing to take "retaliatory measures".

Thousands lose power but Mauritius escapes 'major damage' from cyclone

Thousands of homes were left without power in Mauritius on Wednesday but the Indian Ocean island nation escaped without "major damage" from a battering by powerful cyclone winds.

USA Swimming changes rules in wake of transgender athlete's success

A transgender American swimmer's controversial career hung in the balance Wednesday after the collegiate body governing the sport announced new rules, including testosterone limits, that could impact her ability to race competitively.

US private hiring slumps in ominous labor market sign

US private businesses shed jobs last month for the first time since December 2020 as the Omicron strain again complicated workplaces, potentially a bad sign for the upcoming government employment report.

Amazon oil spill in Ecuador was 6,300 barrels

An oil spill caused by a ruptured pipeline in Ecuador's part of the Amazon leaked almost 6,300 barrels into an environmental reserve, according to information given on Wednesday by the company that owns the conduit.

Turkey says 12 migrants blocked by Greece die at border

Turkey on Wednesday accused Greece of allowing 12 migrants to die in the winter cold after stripping them of their clothes and then pushing them back across the Turkish border.

OPEC+ backs another modest oil output hike despite surging prices

Top oil-producing countries led by Saudi Arabia and Russia announced another modest increase in output on Wednesday despite soaring crude prices and geopolitical tensions rattling the markets.

US private hiring fell 301,000 amid January Omicron surge: survey

Private US businesses shed 301,000 jobs last month as the Omicron variant of Covid-19 disrupted activity, payroll services firm ADP said Wednesday in a report that was far worse than expected.

OPEC+ eyes modest output boost despite price surge

Top oil producing countries led by Saudi Arabia and Russia are expected to stick to their guns and announce another modest output increase on Wednesday despite soaring crude prices.

Two Afghan journalists released after Taliban detention

Two Afghan journalists detained by the Taliban earlier this week were released Wednesday, the news editor of their media organisation said.

Eurozone inflation rises to new record high

Inflation in the eurozone soared to a new record high in January, official data showed Wednesday, adding pressure on the European Central Bank ahead of a monetary policy meeting this week.

Santander profits soar to pre-pandemic levels

Spanish banking giant Santander bounced back from the pandemic as it returned to profit last year, beating analyst expectations and exceeding its pre-Covid earnings, the group said Wednesday.

Sri Lanka gets urgent $500m Indian loan to pay for oil

Sri Lanka was handed temporary relief from energy shortages and rolling blackouts on Wednesday with a $500 million loan from India to finance urgent oil purchases for the cash-strapped nation.

Rape stalks women in C. Africa's dirty war

Maia looks down at her expanding belly, her eyes welling with tears.

'Spider-Man' success helps Sony lift annual profit outlook

Sony upgraded its full-year net profit forecast on Wednesday, buoyed by the success of its latest "Spider-Man" movie and strong results in the gaming sector despite the global chip shortage.

Mexico tries to banish homophobic slur from football

Mexico are playing World Cup qualifiers in front of a limited number of tightly controlled fans -- part of efforts to stamp out an anti-gay slur in the football-loving nation.

Sony hikes annual profit forecast on film, gaming success

Sony upgraded its full-year net profit forecast on Wednesday, buoyed by the success of its latest Spider-Man movie and strong results in the gaming sector despite the global chip shortage.

Iranian female skier cuts icy path to Beijing Olympics

Iranian Atefeh Ahmadi learned to ski not long after she could walk, but the path to the Winter Olympics has not been an entirely smooth run for the 21-year-old.

Spring in February: UK plants flowering 'a month early'

Global warming is causing plants in the UK to burst into flower around a month earlier, with potentially profound consequences for crops and wildlife, according to research Wednesday that used nature observations going back to the 1700s.

Asian markets extend rally as optimism returns to trading floors

Asian equities built on a rally across world markets Wednesday as investors become less worried about the Federal Reserve's plans to tighten monetary policy, while more strong corporate results lifted optimism about the outlook.

General Motors sees solid 2022 on strong demand, improving chip supply

Despite a hit from the semiconductor crunch in the fourth quarter, General Motors on Tuesday projected a highly profitable 2022 based on strong consumer demand in the face of rising inflation.

Pfizer seeks US approval of Covid vaccine for children under 5

Pfizer and BioNTech said Tuesday they are seeking emergency authorization from US health regulators for use of their Covid vaccine for children aged over six months and under five years.

Google parent Alphabet nearly doubles annual profit

Google's parent firm Alphabet announced quarterly profits Tuesday that beat expectations and nearly doubled in 2021 -- after a booming holiday season for the online ads giant facing anti-trust scrutiny.

General Motors reports lower Q4 profits, sees solid 2022

General Motors saw lower fourth-quarter profits as the semiconductor crunch hit vehicle sales, but the company still scored record annual earnings, according to results released Tuesday.

Bombay Durpun - Economy (English)

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