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Bolivia announces $1 bn deal with China to build lithium plants

Bolivia said Tuesday it had signed a $1 billion deal with China's CBC, a subsidiary of the world's largest lithium battery producer CATL, to build two lithium carbonate production plants in the country's southwest.

Trump tariffs threat casts chill over Canada

Canada was scrambling Tuesday to blunt the impact of US President-elect Donald Trump's threat to implement steep tariffs once he takes office, as experts warned of a potentially "catastrophic" hit to the Canadian economy.

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UK to send asylum-seekers to Rwanda

Britain is to send migrants and asylum-seekers who cross the Channel thousands of miles away to Rwanda, according to a controversial deal announced Thursday as the government tries to clamp down on record numbers of people making the perilous journey.

Volkswagen sees impact of Ukraine war despite profit bounce

German auto giant Volkswagen said Thursday its first quarter operating profit increased significantly in 2022, while warning that the "first effects" of the war in Ukraine were beginning to be felt.

Taiwan's TSMC reports record first-quarter revenue

Taiwanese tech giant TSMC posted record revenue for the first three months of the year Thursday as demand soared for chips used in everything from smartphones and cars to missiles.

Asian, eurozone markets rise but inflation haunts outlook

Asian and eurozone stocks rose Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.

Uniqlo operator lifts profit outlook despite China lockdowns

Fast Retailing, the operator of Japanese casualwear giant Uniqlo, revised its annual net profit forecast upwards on Thursday even as business in China is hit by fresh lockdowns.

Judge slashes Tesla's damages to ex-employee in racism case

A San Francisco judge on Wednesday slashed the $137 million in damages Tesla was told to pay a former employee in a racial discrimination case down to $15 million but upheld the verdict.

Asian markets rise but inflation, Ukraine fears linger

Asian stock markets mostly rose in early trade Thursday after a recovery on Wall Street, but investors remained cautious about the ongoing impact of skyrocketing inflation and the war in Ukraine.

ECB wrestles with record inflation and war risk

European Central Bank policymakers meet on Thursday faced with the challenge of threading a response between record-high inflation figures and weak growth due to the war in Ukraine.

Biden's biofuel: Cheaper at the pump, but high environmental cost

In an effort to ease Americans' pain at the gas pump, President Joe Biden has announced his administration will ease restrictions on the sale of E15 -- gasoline that includes 15 percent ethanol -- and new investments in biofuels as a whole.

Global stocks mostly up despite another historic inflation report

Stock markets mostly rose and oil prices climbed Wednesday as investors pored over data showing further spikes to inflation.

Argentines march for jobs, food, amid rampant inflation

Thousands of Argentines marched Wednesday for jobs, food, and more social aid as rampant inflation undermines government efforts to raise living standards.

International agencies call for urgent aid to address food insecurity

Major international organizations issued an appeal Wednesday for urgent measures to deal with rising food insecurity in poor countries, including financing to support farmers and increase food supplies.

Half of US warehouse injuries in 2021 at Amazon: unions

Nearly half of all recorded injuries in US warehouses last year occurred at Amazon, according to a report released Tuesday by a coalition of unions.

Stocks, oil rise as inflation soars

Stock markets mostly rose and oil prices climbed Wednesday as investors pored over data showing further spikes to inflation.

Delta shares fly as strong demand offsets jet fuel drag

Delta Air Lines offered an upbeat outlook for the summer travel season on Wednesday, saying strong demand is providing enough pricing power to make up for soaring fuel costs.

JPMorgan Chase says US economy still solid, but risks rising

JPMorgan Chase said the US economy remains on solid footing for the short-term, but warned of heightened longer-term risks due to inflation and the Ukraine war as its reported lower quarterly profits.

India's Infosys to exit Russia business

Indian software giant Infosys said Wednesday it was "transitioning" out of the Russian market following the Ukraine war and conflict of interest accusations levelled at Rishi Sunak, the British finance minister.

Stocks diverge while oil gains tracking soaring inflation

Stock markets diverged Wednesday as investors pored over data showing further spikes to inflation, while oil prices extended gains.

JPMorgan Chase profits fall 42%; warns of hit from inflation, Ukraine

JPMorgan Chase reported Wednesday that quarterly earnings tumbled as the banking giant set aside $902 million for bad loans, citing "downside risks" including the Ukraine war and surging inflation.

Stocks mostly fall, oil gains tracking soaring inflation

Stock markets mostly fell and oil prices extended gains Wednesday as investors pored over data showing further spikes to inflation.

iPhone, Macbook makers halt Shanghai production over Covid

Several electronics companies, including iPhone and Macbook makers, have halted production in the Chinese cities of Shanghai and Kunshan, adding to supply chain woes under Beijing's strict zero-Covid measures.

Asian stocks shrug off red-hot US inflation

Many Asian markets made gains Wednesday, despite losses on Wall Street and across Europe sparked by data showing red-hot US inflation.

UK inflation strikes 30-year high

Britain's annual inflation rate soared to the highest level in three decades last month as energy prices rocket, official data showed Wednesday, worsening a cost-of-living crisis.

Bankrupt Sri Lanka asks citizens abroad to send home cash

Sri Lanka urged its citizens overseas to send home money to help pay for desperately needed food and fuel Wednesday after announcing a default on its $51 billion foreign debt.

Yen drops to 20-year low against dollar

The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and Fed tightening.

Tattoos embellish scars, heal wounds in Brazil

Standing in front of the mirror, Marlene Silva dos Santos admires the new tattoo splashed across her chest, covering the circular surgery scar left by the Brazilian 51-year-old's battle with breast cancer.

iPhone maker Pegatron halts Shanghai production over Covid

Key iPhone maker Pegatron has halted operations at two subsidiaries in the Chinese cities of Shanghai and Kunshan, as global supply chains feel the pinch of Beijing's strict zero-Covid measures.

Mayor exhumed as Ukraine confronts grim cost of war

The funeral of the Gostomel mayor plays out in reverse. His body is pulled out from the ground, the crowd of mourners disperses, then a priest hugs his weeping wife and says a few kind words.

Asian stocks mostly up despite red-hot US inflation

Asian markets mostly started Wednesday with gains, despite a day of losses on Wall Street and across Europe sparked by data showing red-hot US inflation.

For Biden's battered approval, 'nothing else matters' like inflation

Historically low joblessness is the kind of thing American leaders dream of, but President Joe Biden also has nightmarishly high inflation that supporters and opponents alike believe may cost his Democratic Party dearly.

Driverless car stopped in San Francisco puzzles cops

San Francisco police faced an unprecedented problem recently when an officer stopped a car that was driving at night with no headlights on, only to discover there was no one inside.

Nearly 60 dead in South Africa floods

The death toll from floods and mudslides after rainstorms struck the South African port city of Durban and surrounding areas in KwaZulu-Natal province has climbed to 59, authorities said on Tuesday.

Biden accuses Putin's forces of 'genocide' in Ukraine

President Joe Biden for the first time Tuesday accused Vladimir Putin's forces of committing genocide in Ukraine, where Russia was intensifying its campaign to subdue the devastated port city of Mariupol.

US crypto expert jailed 63 months for helping N.Korea

A US cryptocurrency expert was sentenced Tuesday to 63 months in prison for advising North Korea on how to create cryptocurrency services and blockchain technology to circumvent US sanctions over its nuclear program, court officials in New York said.

US stocks fall on latest hot inflation report; oil prices rise

Equity markets in Europe and New York fell Tuesday following another report showing red-hot US inflation, while oil prices pushed higher.

Russia closes on Mariupol as US warns of chemical threat

Russian troops intensified their campaign to take the port city of Mariupol on Tuesday as part of an anticipated massive onslaught across eastern Ukraine that the United States warned might include the use of chemical weapons.

Boeing cuts its order book following Ukraine invasion

Boeing has removed orders for 141 jets from its backlog, mostly due to sanctions placed on Russia in the aftermath of the Ukraine invasion, officials from the plane manufacturer said Tuesday.

Apple chief Cook takes App Store battle to Washington

Apple head Tim Cook attacked moves to regulate his company's App Store in a rare speech in Washington on Tuesday, arguing that new rules could threaten iPhone users' privacy.

Single HPV shot enough for young women: WHO experts

A single vaccine shot against Human Papillomavirus (HPV), which causes cervical cancer, delivers comparable protection for girls and women under 21 as two doses, the WHO's immunisation experts said.

Dubai Telegraph - Economy (English)