International sales of Cuban cigars, the island nation's most emblematic export, soared 31 percent last year as global demand rises for luxury products, the country's main tobacco exporter said Monday. The sale is a boon for the Cuban economy, which retracted two percent last year amid its worst crisis in three decades.
German rail operator Deutsche Bahn said on Tuesday it had agreed with the GDL union to shorten train drivers' working week, ending a months-long row that caused strikes across the country.
A major bridge in the US city of Baltimore collapsed early Tuesday after being struck by a container ship, sending multiple vehicles and people plunging into the frigid harbor below. It is a major part of the road network around Baltimore, an industrial city on the US East Coast next to the capital Washington.
France's budget deficit overshot forecasts in 2023, official figures showed Tuesday, undermining President Emmanuel Macron's pledge to bring national finances back on track within the next four years. - 'Meltdown' - Le Maire said Tuesday he stood by France's objective of bringing the deficit back below three percent of GDP by 2027, promising his "total determination" to do so.
Spain's government has acquired a three-percent stake in telecoms giant Telefonica following concerns over a Saudi firm taking a piece of a company that Madrid considers strategically important. Spain's government said the move to acquire a stake in Telefonica was in line with its European neighbours, which also own small minority stakes in their leading telecoms operators.
Sri Lanka's central bank cut interest rates Tuesday as the prime minister visited China seeking a debt restructuring deal crucial to maintaining an IMF bailout. "We are in the final stages of restructuring our foreign debt and the prime minister is in China for this purpose," Gunawardana told reporters in Colombo.
Debt-ridden French IT group Atos, the cybersecurity and data provider for the Paris Olympics, posted a huge annual loss Tuesday but vowed that its troubles would not disrupt the Games. Atos' cybersecurity arm, Eviden, will provide cybersecurity to the entire information system for the Games, the Olympic sites, personnel and volunteers.
Swiss chocolatiers have a battle on their hands as Easter rolls around, with surging cocoa prices sending their costs soaring and consumers cutting back as inflation hits their pockets.
Asian stocks swung through the morning session Tuesday as traders weighed the outlook for US interest rates ahead of the release of a key inflation reading. Readings on economic growth, jobless claims and business sentiment are also up for release.
Ousted WeWork co-founder Adam Neumann recently bid more than $500 million to buy back the struggling office-sharing group, according to media reports Monday. Neumann recently submitted the offer, but it was not clear how he would finance such a deal, the Wall Street Journal and CNBC reported, citing sources close to the matter.
Economy
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