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Italy's clam farmers fear blue crab 'invasion'
In the shallow waters of the Scardovari lagoon, fishermen catch clams for Italy's beloved spaghetti alle vongole, alongside mussels and oysters. This stretch of lagoon is becoming a desert," said Gianluca Travaglia, a 52-year-old farmer of mussels and clams.
Japanese economic growth smashes expectations
Quarterly growth data for Japan smashed expectations on Tuesday as car exports rebounded and tourists flooded back, but economists cautioned that it may not last.
Asian markets climb on US tech rally, China cuts rate
Asian markets rose Tuesday as a US tech rally bouyed sentiment although concerns over China weighed on Hong Kong as a surprise rate cut and a batch of weak figures gave little cheer on the economic outlook. Shanghai was down 0.1 percent while Hong Kong was off 0.7 percent as a fresh batch of data from Beijing failed to reassure investor concerns about the stuttering Chinese economy.
China suspends release of youth unemployment rates as economic data disappoints
China on Tuesday said it would suspend the release of youth unemployment rates, as its central bank cut a key interest rate to boost flagging growth. The central bank on Tuesday cut the medium-term lending facility (MLF) rate -- the interest for one-year loans to financial institutions -- from 2.65 percent to 2.5 percent.
China retail sales growth slows, falling below forecasts
China on Tuesday released weaker than expected economic data, with slowing retail sales growth pointing to shaky consumer confidence in the world's second-largest economy. The recent data suggests that China may struggle to achieve a five percent growth target set for the year.
Wine from Brazil's unsung savannah makes a splash
The tropical savannah around Brazil's ultra-modernist capital is not exactly known as wine country, but French enologist Jean-Michel Barcelo gushes as he plucks a ruby-red grape and pops it in his mouth. "The technique they're using here is different from what you see anywhere else in the world," says Barcelo, a silver-haired Frenchman who takes his wine very seriously.
Economic jitters as outsider leads Argentina election race
Argentina devalued the peso as economic jitters gripped the country on Monday after an anti-establishment candidate advocating harsh austerity measures surged to the front of the presidential race. Milei has proposed dollarizing the economy and imposing strict austerity measures.
Yellen calls for diversified clean energy supply chains
US Treasury Secretary Janet Yellen stressed Monday the need for diversified clean energy supply chains as America shifts away from fossil fuels, warning that production should not be concentrated in a few countries. She stressed the importance of building resilient and diversified critical global supply chains to mitigate disruptions and safeguard economic security.
UBS to pay $1.4 bn to settle US fraud charges on subprime loans
UBS will pay $1.4 billion to settle US charges that it defrauded investors in the sale of mortgage-backed securities, resolving the last big case stemming from the 2008 financial crisis, the Justice Department announced Monday.
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