Dubai Telegraph

Italy holds govt talks as Meloni coalition spars over Ukraine

Italy's president began consultations Thursday to form a new government following the victory of far-right leader Giorgia Meloni in elections last month, even as friction over Ukraine threatened the unity of her coalition.

Pound, London stocks climb after Truss resignation

The London stock market and the pound bounced on Thursday after British Prime Minister Liz Truss announced her resignation following disastrous policies that rocked the markets for weeks.

European Space Agency to launch two missions on SpaceX rockets

The European Space Agency announced Thursday it will use SpaceX's Falcon 9 rockets to launch two scientific missions because of delays to its own Ariane 6 rocket and the cancellation of flights on Russia's Soyuz launchers.

Robust travel demand boosts American Airlines' Q3 profits

American Airlines reported a strong third quarter Thursday, capitalizing on robust demand for travel that the company sees persisting as Covid-19 worries recede.

Turkish central bank cuts rates again as inflation rockets

Turkey's central bank on Thursday cut its policy rate for the third consecutive month despite a plunging lira and an annual inflation rate that has soared over 83 percent.

Italy opens talks on new government as coalition spars over Ukraine

Italy's president began consultations Thursday on forming a new government following the victory of far-right leader Giorgia Meloni in elections last month, as tensions over Ukraine threatened the unity of her coalition.

Stocks mostly slide on strong dollar

Asian and European equities mostly slid Thursday after overnight Wall Street losses, while the dollar jumped as surging inflation, interest rate hikes and recession fears returned to the fore.

Turkish central bank cuts rates for third month

Turkey's central bank on Thursday cut its policy rate for the third consecutive month despite plunging lira and an annual inflation rate that has soared over 83 percent.

First-ever licencing deal struck for cancer drug

Pharmaceutical giant Novartis has signed a licensing agreement increasing access to a vital leukaemia treatment, a UN-backed public health organisation said Thursday, marking the first-ever such agreement for a cancer drug.

Yen sinks to 150 per dollar, lowest since 1990

The falling yen hit 150 per dollar for the first time since 1990 on Thursday, driven down by the contrast between Japanese monetary easing and aggressive US interest rate hikes.

Asian markets drop and dollar rises as inflation, rate fears return

Asian equities tumbled Thursday, tracking a sell-off on Wall Street, while the dollar regained its strength as surging inflation, interest rate hikes and recession fears returned to the fore.

Tesla quarterly profit jumps, but revenues miss estimates

Tesla reported Wednesday another quarter of sparkling earnings growth, but shares fell amid questions over the resilience of electric vehicle demand, CEO Elon Musk's embattled Twitter transaction and other issues.

Why law enforcement struggles to throttle crypto scams

Under the headline "Scammers in Paris", an online sleuth known as ZachXBT published a blog in August detailing how a pair of youngsters stole cryptoassets worth millions.

Britons skipping meals in cost of living crisis: poll

Millions of Britons are skipping meals in current the cost-of-living crisis, a consumer group warned Thursday, having already forecast that many risk fuel poverty after the UK curbed its energy price freeze.

Musk says he's 'excited' about buying Twitter, but overpaying

Elon Musk on Wednesday said he is "excited" about taking over Twitter, expressing enthusiasm even though he's spent months trying to break free of the $44 billion buyout contract.

US hits network that smuggled chips to Russian arms makers

US authorities indicted five Russians Wednesday who allegedly shipped American electronic components to Russia arms makers, some of which have been found on the battlefield in Ukraine.

Tesla reports jump in Q3 profits, but revenues miss estimates

Tesla reported Wednesday another quarter of sparkling earnings growth, but shares fell amid questions over the resilience of electric vehicle demand, CEO Elon Musk's embattled Twitter transaction and other issues.

L.S. Lowry's 'Going to the Match' sells for nearly £8 mn

L.S. Lowry's "Going To The Match", one of the most iconic paintings of 20th century British art, sold at auction Wednesday for a record-breaking £7.85 million ($8.81 million).

L.S. Lowry's 'Going to the Match' sells for nearly £8m

L.S. Lowry's "Going To The Match", one of the most iconic paintings of 20th century British art, sold at auction Wednesday for a record-breaking £7.85 million ($8.81 million).

Macron rams budget through divided French parliament

President Emmanuel Macron's government on Wednesday sought to ram its 2023 budget through parliament without a vote as it seeks to lift the country out of an economic squeeze that has sparked strikes and demonstrations.

Spain minister says EU energy crisis measures too 'timid'

The EU's proposals to rein in soaring energy prices are too "timid" and could lead to a "breakdown in confidence" in European institutions, Spain's Energy Minister Teresa Ribera said Wednesday during an interview with AFP on the eve of an EU leaders summit.

BMW to invest $1.7 bn in electric car production in US

German carmaker BMW said Wednesday it will invest $1.7 billion in the production of electric vehicles in the United States.

Truss budget fiasco shows power of the markets

British Prime Minister Liz Truss's humiliating budget U-turn shows how markets can wield influence over government fiscal policy.

Stocks waver as inflation concerns offset positive earnings

Major stock markets fluctuated Wednesday as investors tracked soaring inflation and positive earnings results.

Empty shelves as German supermarkets resist price hikes

German shoppers are increasingly finding empty shelves where their favourite Kellogg's cereal, Mars chocolate bar or rice brand used to be, as supermarkets square off against major food companies over price hikes.

'Shocking' UK report links poor care to death of 45 babies

A damning report Wednesday found that 45 babies who died at two British hospitals might have survived if their care had been up to standard, in the latest UK maternity scandal.

Procter & Gamble earnings boosted by price hikes

Procter & Gamble turned in another solid quarter Wednesday as it pointed to indications that consumers are mostly sticking with leading household brands despite higher prices.

Trump to testify in defamation case against rape accuser

Former US president Donald Trump is expected to testify Wednesday in a defamation case pitting him against a prominent American columnist who says he raped her in the 1990s.

India stops Pulitzer-winning photographer from flying to US

Indian authorities have prevented an award-winning photographer from flying to the United States to collect her Pulitzer Prize, the latest of several Kashmiri journalists barred from leaving the country.

Markets mixed as traders struggle to keep rally's momentum

Investors battled to push markets higher again Wednesday following another healthy run-up on Wall Street boosted by more positive earnings results that raised hopes for the reporting season.

UK inflation returns above 10 percent

British inflation jumped back above 10 percent in September on soaring food prices, official data showed Wednesday, with the country gripped by a cost-of-living crisis bedevilling the government.

Crowd welcomes home Iranian climber who competed without hijab

A cheering crowd welcomed home Iranian sports climber Elnaz Rekabi at a Tehran airport Wednesday, after she competed in South Korea without a hijab, media in the Islamic republic reported.

Dubai Telegraph - Economy (English)

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