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'Be more honest': Markets crave clarity from cryptic Fed chair

US Federal Reserve Chair Kevin Warsh will have to soothe investors frazzled by his cryptic communication style in a key speech on Friday, analysts say, or risk having his leadership undercut by other policymakers filling the void.

Lofty bond yields, Bessent's intervention pose challenge to Fed's Warsh

US Treasury Secretary Scott Bessent's controversial efforts to lower Treasury yields have potentially put him at odds with Federal Reserve Chair Kevin Warsh, complicating the latter's communications challenge this week.

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Toyota ups North Carolina EV plant investment by $8 bn

Toyota will significantly expand an electric battery plant in North Carolina, ramping up a bet on zero-emission vehicles in the United States, the automaker announced Tuesday.

UK govt backs down over plans to shut rail ticket offices

The UK government has scrapped controversial plans to close almost all railway station ticket offices in England, following fierce criticism from disabled campaign groups, unions and passenger watchdogs.

Prada sees slowing sales growth in third quarter

Prada saw its sales growth decelerate during the third quarter but the Italian luxury group said Tuesday sales for the year were still solidly higher thanks to strong performances in Asia and Europe, its top markets.

Climate 'loss and damage' fund tops UAE talks ahead of COP28

Setting up a "loss and damage" fund for poorer nations hit by climate change dominated preliminary talks on Tuesday, one month before COP28 in Dubai where delegates look set to tussle over the future of fossil fuels.

US Fed poised to keep rates unchanged as it opens key meeting

The US central bank opened a key policy meeting Tuesday, with officials widely expected to hold interest rates at a 22-year-high as they balance efforts to lower inflation while staving off a recession.

Caterpillar earnings boosted by North American strength

Caterpillar reported higher profits Tuesday behind strong pricing trends, especially in its home North America market, which led revenue growth.

Europe stocks rise despite economic and Mid East gloom

European stocks rose Tuesday after a mixed Asian session despite spreading economic and geopolitical uncertainty on the eve of a US interest-rate decision.

Pfizer reports loss as Covid-19 revenues shrink

Pfizer reported Tuesday a loss following a sharp fall in the sales of its Covid-19 vaccine and therapeutic from pandemic peaks.

Stellantis beats forecasts despite US strike

Stellantis beat analyst forecasts with a jump in third quarter sales despite the automaker acknowledging Tuesday the strike by its US workers cost $3.2 billion in lost revenue.

AB InBev profit higher despite Bud Light sales plunge

AB InBev, the world's top brewer, said Tuesday sales and net profits edged higher in the third quarter despite a drop in sales volume, in particular in the United States where Bud Light has been boycotted by conservative figures.

Eurozone economy shrinks in third quarter, inflation falls further

Economic growth in the eurozone contracted in the third quarter, data showed Tuesday, hit by the European Central Bank's painful rate-hiking campaign and Germany's weakening economy, but inflation slowed in October.

Samsung Electronics says Q3 operating profits down but flags 2024 chip recovery

South Korea's Samsung Electronics said Tuesday that its operating profits for the July to September period were down nearly 80 percent, but forecast that a prolonged slump in the memory chip market was coming to an end.

Vodafone sells Spain unit for up to 5.0 bn euros

British mobile phone giant Vodafone announced Tuesday the sale of its Spanish division to investment fund Zegona for up to 5.0 billion euros ($5.3 billion), as part of an ongoing overhaul.

Stellantis confirms 2023 outlook despite US strike

Automaker Stellantis confirmed Tuesday its 2023 outlook thanks to a jump in third quarter revenue despite a costly strike in the United States.

Brazil's booming ag sector draws cash and controversy

With its massive output of soybeans, beef, cotton and now corn, Brazil has become one of the world's top agricultural powers. But its agribusiness industry also faces criticism, especially over destruction of the Amazon rainforest.

Israel aims shock-value online campaign at Europe

Israel is running a hard-hitting online campaign targeting mostly Europeans with shocking images and testimonies from the attacks carried out by Islamist militant group Hamas on October 7.

China's electric bus revolution glides on

On a rainy afternoon in Shenzhen, damp passengers jostle their way onto the megacity's buses, the quiet foot soldiers of an electric revolution for coal-guzzling China's public transport network.

Charging ahead: Dutch eye boost to 'fast charger' EV network

At a service station near Amsterdam's Schiphol Airport, a steady stream of motorists charge up their electric vehicles at "ultra-fast" power points. The whole process takes less than 20 minutes.

Stocks mixed, oil subdued as traders eye Mideast and central banks

Asian stocks were mixed Tuesday, with traders tracking developments in the Middle East crisis as Israel presses on with its ground incursion of Gaza, while hopes the conflict will not spill over regionally kept oil prices subdued.

Samsung Electronics says Q3 operating profits down 77.57%

South Korea's Samsung Electronics said Tuesday that its operating profits for the July to September period were down 77.57 percent from the year before, even as new smartphone releases boosted revenue.

Panama tribunal rejects holding mine deal referendum

Panama's electoral tribunal on Monday dismissed the idea of organizing a referendum in December on a mining contract that has ignited countrywide protests.

US auto strike nears end as union, GM reach tentative deal

A wave of strikes that disrupted the three largest US automakers for six weeks looked to have been finally resolved Monday, as the auto workers union reached a tentative agreement with holdout General Motors.

US auto workers union reaches tentative deal with GM

The US auto workers union reached a tentative agreement with General Motors on a new labor contract Monday, a source close to negotiations told AFP, paving the way to ending a six-week strike at major car manufacturers.

HSBC profits surge on higher interest rates

Banking giant HSBC on Monday posted surging profits for the third quarter as lenders pass on interest-rate hikes carried out by central banks.

German economy shrinks slightly in third quarter

German output shrank in the third quarter, official data published Monday showed, adding to a continued gloomy picture for Europe's largest economy despite falling inflation.

German-Israeli woman captured by Hamas confirmed dead

Shani Louk, a 23-year-old German-Israeli woman captured by Hamas fighters when they stormed a music festival in the Israeli desert, is dead, Israel's foreign ministry said Monday.

Huge overspend claims at DR Congo's Francophone Games under audit

Financial auditors have arrived in DR Congo to investigate this summer's Francophone Games in Kinshasa, said the event organisers on Monday after being being blamed for vast overspending.

Taiwan's Foxconn calls for 'confidence' in wake of Chinese tax probe

Taiwan-based tech giant Foxconn said Monday its current operations were "normal", calling for confidence in the company after a tax probe launched by Chinese authorities.

Five workers killed in German building site accident: fire brigade

At least five workers were killed in the northern German city of Hamburg on Monday when a scaffolding collapsed at a building site, a fire brigade spokesman said.

Crude slips as worries of region-wide Middle East war ease

Oil prices fell Monday as Israel stepped up ground attacks on Hamas targets in Gaza but held back from a full-on incursion, fanning hopes a wider conflict can be avoided.

California startup to 'sponge' CO2 from the atmosphere

Scrubbing carbon dioxide from the air is imperative if humanity is to limit global warming, experts say, and a California startup says it can do just that, using limestone as a carbon-sucking sponge.

HSBC says pre-tax profit more than doubled in third quarter

Banking giant HSBC said on Monday that pre-tax profit in the third quarter more than doubled to $7.7 billion, reflecting the "positive impact of a higher interest rate environment".

Portugal Colonial - Economy (English)