Asian markets were mixed on Monday as investors set their sights on the release of key US inflation data due at the end of the week. Eyes are now on the release of the personal consumption expenditures (PCE) index, the Fed's preferred gauge of inflation, with traders hoping for a reading that shows price gains slowing further.
ArcelorMittal has again offered to sell its stake in a huge Italian steelworks after Rome moved to put it under state supervision, according to a letter cited by the ANSA news agency Saturday.
While the explosion of debt is throwing a shadow over global economic growth, experts warn that sub-Saharan Africa, where several countries are already in default, is experiencing its worst-ever crisis.
The head of the American space company whose lunar lander failed this week in its mission to reach the Moon expressed optimism Friday that the next attempt would achieve its goal. Astrobotic's Peregrine lander was launched on January 8 under an experimental new partnership between US space agency NASA and private industry intended to reduce costs for American taxpayers and seed a lunar economy.
Unionized journalists at the Los Angeles Times walked off the job Friday for the first time in the paper's 142-year history, after management said it planned significant job cuts to help plug a gaping financial hole. No official number was put on the planned job cuts, but reports said it could be at least 100 journalists -- around a fifth of the newsroom.
The US Federal Reserve's fight against inflation is far from over and it is "premature" to expect rate cuts around the corner, a senior US central bank official said Friday. The interventions from Fed officials this week appear to have changed market perceptions of when the US central bank will start loosening monetary policy, with futures traders now far less confident of a March rate cut.
An Atlas Air Boeing 747 cargo plane made an emergency return to Miami International Airport following an engine problem shortly after takeoff, the airline said -- prompting another investigation into the aviation giant.
Staff at Sports Illustrated, the famed American sports magazine that became a fixture for athletes and fans, were laid off on Friday by publisher The Arena Group, according to the SI employees union.
From South Africa to Rwanda to Nigeria, African countries put on a show of force at the World Economic Forum this week, seeking to transform their image by grabbing private investment rather than development aid.
The Dutch climate activists who won an historic court battle against Shell now have a new target -- top Dutch bank ING. Milieudefensie, the Dutch branch of Friends of the Earth, said Friday they have started legal proceedings against ING, and warned that other top companies could be next.
Economy
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