A South African teacher reacted to a predicted R8-per-litre petrol increase, citing unaffordable increasing costs while salaries remained stagnant.
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Asian markets mostly up, tracking Wall Street gains
Most Asian markets rose Thursday, tracking a rebound in Europe and New York and following positive remarks from a senior Federal Reserve official that inflation was headed in the right direction. In Tokyo, official data released Thursday showed Germany overtook Japan last year as the world's third-biggest economy, primarily because of a sharp fall in the yen.
Germany overtakes Japan as third-biggest economy
Once forecast to become the world's biggest economy, Japan slipped below Germany last year to fourth place, official data showed Thursday, although India is projected to leapfrog both later this decade. - Soul-searching - During its boom years of the 1970s and '80s some projected that Japan would become the world's biggest economy.
What is behind the US economy's surprising strength?
The US has seen GDP growth blow past predictions, hiring numbers surge unexpectedly and consumers still spending even as interest rates climbed -- deftly averting a dreaded recession in 2023. - 'Value of talent' - Low unemployment, wage growth and hiring have underpinned consumers' willingness to spend.
Senior US Fed official backs 'careful' approach to rate cuts
The US Federal Reserve should be "careful" about the timing of interest rate cuts, a senior bank official said Wednesday, adding to the cautious tone taken by US central bank officials in recent months about moving too quickly.
Argentina's annual inflation soars above 250% in January
Argentina's monthly inflation slowed slightly in January, but the prices of key goods and services rose 254 percent year-on-year, the statistics agency said Wednesday. Monthly inflation stood at 20.6 percent in January, the INDEC statistics agency said, down from the 25.5 percent figure for December.
More hunger, less money: Argentine soup kitchens count rations
In an Argentine soup kitchen, empty plastic containers are piling up from hungry visitors, and the cooks are worried their limited supply of pasta will not be enough to fill them. She points to empty crates normally filled with fruit and vegetables.
Renault bounces back in 2023 with net profit of 2.2 bn euros
French automaker Renault on Wednesday said it had bounced back into profit in 2023 as sales rose due to new models and price increases that helped it attain a record margin. Its operating margin, which compares operating profit to sales revenue, struck a record 7.9 percent.
Sticky UK inflation stokes Bank of England rate-cut debate
British annual inflation steadied last month, official data showed Wednesday, but prices still rose at double the Bank of England's target rate, adding to uncertainty over the timing of an interest-rate cut. "The ingredients remain in place... to start cutting interest rates in the next few months," added Beck.
German auto supplier Continental says to cut 7,150 jobs
German auto supplier Continental said Wednesday it would cut some 7,150 posts worldwide by 2025 as the difficult switch to electric vehicles forces companies in the sector to retool. Germany's auto suppliers have been facing problems as the transition to electric mobility gathers pace, after decades relying on fossil fuel vehicles for their profits.
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