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Trump tariff vow drives choppy day for markets

European markets closed lower on Tuesday while Wall Street bounced as investors digested incoming US president Donald Trump's warning that he would impose huge new tariffs on China, Mexico and Canada, raising fears of a trade war.

Prosecutors seek up to 15-year terms for French rape trial defendants

French prosecutors on Tuesday demanded sentences of up to 15 years for the remaining co-defendants in the trial of a man charged with enlisting dozens of strangers to rape his wife while she was drugged and unconscious.

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The race to dominate satellite internet heats up

Though satellite internet has existed for years, the competition is about to rapidly intensify, with companies planning to launch thousands of their own systems into low Earth orbit.

Samsung forecasts Q1 operating profit up 50.3% year-on-year

Samsung Electronics expects operating profits for the first quarter to rise 50.3 percent, the South Korean tech giant said in a statement Thursday, despite global supply chain woes.

'Amazon, here we come': Biden cheers US union drive

President Joe Biden sang praises for organized labor once again Wednesday, hailing last week's triumph by union backers at Amazon as a sign of what is possible throughout the United States.

Many US Fed officials support future half-point increase: minutes

At their March policy meeting, several US Federal Reserve officials supported raising interest rates by half a percentage point in the future to combat inflation, minutes released Wednesday said.

US slaps sanctions on Putin's daughters, Russia's biggest banks

The White House announced sanctions Wednesday targeting Russia's top public and private banks and two daughters of Vladimir Putin, adding pressure on the country's economy and its elite over the invasion of Ukraine.

Greeks demonstrate over soaring prices

Thousands of Greeks demonstrated in Athens against soaring prices Wednesday as a general strike shut down public services.

JetBlue seeks to buy Spirit Airlines, threatening Frontier deal

JetBlue Airways announced Tuesday a bid to acquire Spirit Airlines for $3.6 billion, setting up a bidding war with Frontier Airlines in the discount flying market.

Easier for Europe to give up Russian coal than gas

The EU is preparing to hit Russian coal with sanctions.

Good times: Luxury watchmakers face soaring demand

Times have been so good for luxury watchmakers that they are running behind demand, forcing some to delay the release of new collections and others to invest more in production capacity.

Maradona's 1986 World Cup 'hand of God' jersey to be auctioned

The jersey worn by Diego Maradona when he scored twice against England in the 1986 World Cup, including the infamous "hand of God" goal, is to be auctioned off later this month, Sotheby's announced Wednesday.

Singer Ed Sheeran wins 'Shape of You' copyright dispute

British singer-songwriter Ed Sheeran on Wednesday won his copyright trial at London's High Court after a judge ruled that his hit song "Shape of You" did not lift musical phrases from another track.

Asian, European markets track Wall St retreat on hawkish Fed bets

Equities sank Wednesday after Wall Street tumbled on bets the Federal Reserve will act more aggressively to bring inflation under control, while oil recovered some losses caused by the European Union's decision not to ban Russian crude.

Is Picasso being cancelled?

Pablo Picasso's track-record with women certainly would not make him a feminist pin-up today.

US, UK, Australia vow to cooperate on hypersonic weapons

The United States, Britain and Australia said Tuesday they would begin collaborating on hypersonic missile strike and defence capacity, as rivals Russia and China advance rapidly in the cutting-edge technology.

Russian cinema in turmoil as Hollywood pulls out

After years spent translating Hollywood films, Russian Mila Grekova was suddenly thrown out of work after Moscow's military intervention in Ukraine.

Twitter moves to limit reach of Russian govt accounts

Twitter announced Tuesday it was introducing new measures against Russian government accounts to reduce the impact of official propaganda on the social network.

Twitter to test longed-for edit button

Twitter announced Tuesday it will soon start testing an edit button at its monthly subscription service.

JetBlue seeks to buy Spirit Airways, threatening Frontier deal

JetBlue Airways announced Tuesday a bid to acquire Spirit Airlines for $3.6 billion, setting up a bidding war with Frontier Airlines in the discount flying market.

Fed prepared to take 'stronger action' to fight inflation: Brainard

Reducing high inflation is of "paramount importance" for the US central bank and policymakers are prepared to act more aggressively if needed, Federal Reserve Governor Lael Brainard said Tuesday.

Salmonella, a leading cause of foodborne outbreaks

Salmonella, fears over which sparked a cautionary recall of Kinder chocolate eggs in several European countries on Tuesday, is one of the most common causes of food-borne outbreaks.

Twitter names Elon Musk to board, further lifting shares

Twitter announced Tuesday that Elon Musk will join its board, one day after the Tesla CEO disclosed a large stake that made him the social media company's largest shareholder.

World's fossil fuel assets risk evaporating in climate fight

Oil platforms, pipelines, coal power plants and other fossil fuel assets could lose trillions of dollars in the battle against climate change in the coming decades, experts say.

Germany closes Russian darknet marketplace Hydra

German police said Tuesday they have taken down Russian-language illegal darknet marketplace Hydra, the largest such network in the world, and seized bitcoins worth 23 million euros ($25 million).

Hit by sanctions, Lada factory town braces for tough times

For generations the Russian city of Tolyatti has been synonymous with leading car manufacturer Avtovaz, maker of one of the country's best-known brands, the Lada automobile.

Oil extends rally as EU considers more Russia sanctions

Oil prices jumped further Tuesday as the European Union considered further sanctions against major crude producer Russia in response to killings in the Ukrainian town of Bucha that have prompted international condemnation.

Scottish town welcomes banking lifeline

Donna Corrigan pops into her local supermarket to pay OneBanks a visit, laden with a heavy box of coins to deposit into her bank account.

Watchmakers tinker with new materials to draw new buyers

Lab-made diamonds, recycled plastic and 3D printing: this year's Geneva watch fair was teeming with timepieces crafted from new materials, aimed at seducing a new generation of luxury watch connoisseurs.

Oil extends rally on Russia sanctions bets, stocks wobble

Oil prices extended gains Tuesday on the prospect of further sanctions on Russia for alleged "atrocities" in some occupied Ukraine cities, while equities struggled to build on a rally in New York and Europe.

Ecuador banana industry slips over war in Ukraine

Until recently, the incessant bustle of Ecuadoran banana plantations provided evidence of the industry's robust export business. But from one week to the next, the groves have fallen silent -- trade victims to a conflict half a world away.

Satellite images show bodies in Bucha for weeks, rebutting Moscow claim

Satellite photographs released on Monday appear to rebut Russian assertions that dead bodies in civilian clothing found in Bucha had appeared there after Russian forces retreated from the devastated Ukrainian town.

Starbucks interim CEO Schultz to suspend share buyback program

The newly installed interim chief executive of Starbucks Howard Schultz announced Monday he will suspend a share repurchase program as the chain navigates a challenging landscape amid a growing unionization push.

French fruit, vineyards endure coldest April day in 75 years

French wine and fruit growers were hit by the coldest April day since 1947 overnight Sunday and early Monday, the second straight year they have suffered freak spring weather.

Twitter shares take wing, oil prices rebound

Stock markets were subdued on Monday while oil prices rose as investors tracked Russia's war with Ukraine, but Twitter stood out as its shares soared after Elon Musk purchased a major stake in the social network.

Sri Lanka opposition rejects unity govt offer, demands president resign

Sri Lanka's opposition on Monday dismissed the president's invitation to join a unity government as "nonsensical" and instead demanded he resign over the country's worsening shortages of food, fuel and medicines.

Elon Musk buys large stake in Twitter, sending stock soaring

Elon Musk has taken a major stake in Twitter, regulatory filings showed Monday, sending the social media network's stock soaring and igniting speculation he could seek an active role in its operations.

Stocks up, oil steady on easing supply, inflation concerns

Stock markets climbed and oil prices steadied Monday on easing concerns over tight crude supplies and decades-high inflation, traders said.

Sri Lanka leader offers to share power as protests mount

Sri Lanka's president offered to share power with the opposition on Monday as protests escalated across the country demanding his resignation over worsening shortages of food, fuel and medicines.

Troubled Sri Lanka set for new cabinet and protests

Sri Lanka's president was set to appoint a new cabinet Monday as security forces braced for possible violence with more protests expected against worsening shortages of food, fuel and medicines.

Asian markets mixed as strong US jobs data boosts rate hike bets

Asian markets were mixed Monday as another strong jobs report provided some reassurance that the recovery in the US economy remained on track but also solidified expectations for more aggressive Federal Reserve interest rate hikes.

Dubai Telegraph - Economy (English)