AFP
13876 articles published since 08 Mar 2022
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US auto worker strike hits October industrial production
US industrial production declined more than expected in October, with the auto workers strike exerting downward pressure on a range of market groups, the Federal Reserve said Thursday. Among the major market groups, output was mixed, with the impact of strike action "exerting downward pressure on a number of categories," including the index for consumer durables, which fell 5.8 percent.
Walmart narrowly lifts forecast as inflation stays consumer concern
Walmart narrowly lifted its full-year forecast on Thursday following solid quarterly results as it continued to navigate a market challenged by elevated pricing that has depressed demand for some goods. Results during the quarter were also dented somewhat by elevated spending on store remodels.
Spectre of war paralyses Lebanon's hospitality sector
Bartender Richard Alam has poured hardly any drinks at his pub in Lebanon's seaside city of Byblos, where once-busy streets have emptied of customers scared by border tensions during the Israel-Hamas war. Since then, Lebanon's southern border has seen deadly escalating skirmishes, mainly between Israel and Hamas ally Hezbollah.
EU agrees data-sharing scheme for Airbnb-style rentals
An EU-wide data-sharing scheme for Airbnb and similar rentals to help crack down on illegal short-term lets is a step closer after negotiators struck agreement Thursday. Airbnb welcomed the EU agreement, saying setting "clear rules" across the European Union to replace the current patchwork of national laws on the sector was "a watershed moment for Airbnb and our industry".
Rich nations 'likely' met $100 bn climate finance goal: OECD
Wealthy nations likely met their goal of providing $100 billion in annual climate finance to poorer nations last year -- two years later than promised and only a fraction of the "extensive needs", the OECD said Thursday. Adaptation is a key priority for developing countries and wealthy governments have promised to double adaptation finance by 2025, to $40 billion a year.
Oil, gas giants could pay climate damage and still profit: research
Major oil and gas companies such as Aramco, ExxonMobil and Shell could have paid for their share of the damage caused by climate change and still earned trillions of dollars in profit, researchers said on Thursday. The estimated damage caused by carbon emissions from the 25 companies cost $20 trillion from 1985 to 2018 -- but during that time they earned $30 trillion, the report said.
Siemens nets record profits, but outlook cautious
German industrial giant Siemens on Thursday gave a cautious sales forecast for 2024, after netting a record profit in the previous financial year driven by its digital division. This cautious assessment is mainly due to the "Digital Industries" division, whose work includes supplying technologies for automation.
Quakes and climate: how Dutch farmers lost faith in politics
Spade in hand, Dutch organic farmer Piet Glas strolls off with his Jack Russell terrier Ollie to hunt mice nesting in a nearby apple orchard. There is a lot of unhappiness," said Glas, whose farm produces organic apples, berries and free-range chickens for sale in the nearby village of Loppersum.
China ready to be 'partner and friend' of US: Xi
China is "ready to be a partner and friend of the United States," President Xi Jinping told US business leaders on Wednesday, as concerns mount over the country's slowing economy.
AFP
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