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US stocks soar on Trump tariff reversal, oil prices jump

Wall Street stocks rocketed higher Wednesday following President Trump's shock move to pause many new tariffs, lifting an equity market beaten down by days of losses amid rising recession worries.

Author of explosive Meta memoir stars at US Senate hearing

The former Facebook employee behind a scathing book about parent company Meta on Wednesday alleged that the social networking giant collaborated with the Chinese government on artificial intelligence, censorship and more, then lied to Congress about what it was doing.

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War fears mount as Putin to oversee drills, Zelensky to meet allies

Russia's leader will oversee major military drills along Ukraine's borders on Saturday, further escalating tensions after Washington said Moscow would invade within days, and Ukraine's president headed to Europe to drum up support.

Musk donates satellite gear to reconnect Tonga

Tonga says space entrepreneur and Tesla founder Elon Musk has donated 50 satellite terminals to help the volcano-damaged Pacific island reconnect with the world.

American Airlines cuts summer flights due to Boeing 787 delays

American Airlines on Friday said it would cut more international flights over the summer than originally planned as it deals with delays in deliveries of the Boeing 787 Dreamliner long-haul jet.

US resumes avocado imports from Mexico

Avocado imports from the western Mexican state of Michoacan have resumed following a week-long suspension after steps were taken to ensure the safety of American inspectors, the US government said Friday.

Street styles, neon kick off London Fashion Week

Fashionistas braved gale-force winds in London on Friday to attend the first Fashion Week shows, with a schedule dominated by up-and-coming young designers.

NY Fed president sees no need for 'big' rate hike in March

With high inflation hitting the US economy, it is time for the central bank to raise the benchmark borrowing rate, but there is no reason for a "big" early move, a top Federal Reserve official said Friday.

Street styles, neon centre stage at London Fashion Week

Fashionistas braved gale-force winds in London on Friday to attend the first Fashion Week shows, with a schedule dominated by up-and-coming young designers.

US existing home sales shot up 6.7% in January: report

Existing homes have become harder to find than ever, but Americans kept buying in January, pushing the pace of sales up much more than expected, according to industry data released Friday.

Stocks buckle as Ukraine fears linger

Stock markets retreated on Friday at the end of a highly volatile week rocked by twists and turns in the Ukraine crisis and concerns about interest rate hikes.

11 missing after Greece ferry fire

Eleven people were missing and two remained trapped after an Italian-flagged ferry caught fire overnight on the Ionian Sea, Greek officials said as emergency crews raced against the clock to put out the blaze and locate survivors before dark.

European stocks steady, oil extends losses

European stock markets steadied on Friday, the end of a highly volatile week for equities as traders focus on the Ukraine crisis and inflation pressures.

Boy trapped for three days in Afghan well dies after rescue

A five-year-old boy trapped for three days down a remote Afghan village well died minutes after being pulled out on Friday, following a rescue effort the country's new Taliban rulers said showed they would spare nothing for their citizens.

Six African nations to get own mRNA jab production

Six African countries have been chosen to establish their own mRNA vaccine production, the World Health Organization said Friday, with the continent largely shut out of access to Covid jabs.

Chinese food delivery giant slumps on new fee-cut measures

Shares of Chinese food delivery giant Meituan slumped Friday as Beijing released new guidelines instructing internet platforms to lower fees for struggling eateries.

Six African countries to get own mRNA jab production

Six African countries have been chosen to establish their own mRNA vaccine production, the World Health Organization said Friday, with the continent largely shut out of access to Covid jabs.

Asian markets mixed as Ukraine fears return, oil extends losses

Asian markets were mixed Friday following a steep drop on Wall Street fuelled by renewed fears that Russia will soon invade Ukraine, adding to long-running angst about the Federal Reserve's plans to hike interest rates.

Why crypto creators want to stay anonymous

The two lifelong friends from Florida never sought the limelight, but then they built a multi-million-dollar empire selling digital art and people wanted to know who they were.

Rescuers near boy trapped in Afghan well, but rock blocks progress

Rescuers worked through the night to try to reach a five-year-old boy trapped for three days in an Afghan well, but an official said Friday a large rock was blocking their final access to the shaft.

Sustainable designs to take centre stage at London fashion

Emerging and sustainable designers will get a chance to shine at London Fashion Week from Friday with major brands such as Burberry, Victoria Beckham and Vivienne Westwood either absent or sticking to digital formats for the five-day catwalk extravaganza.

First US drug injection center aims to lead way on overdoses

"This site saves lives," reads an inscription on the wall of America's first drug injection center in New York, which aims to serve as a model in a country blighted by record overdoses.

LGBT identification hits US high of 7.1% as Gen Z comes of age

The proportion of US adults identifying as LGBT has increased to a high of 7.1 percent, double the figure from 2012 when Gallup first started measuring it, reflecting a generational shift, the polling firm said Thursday.

'Coca' pits indigenous Colombians against soft drink giant

Indigenous Colombians are going head to head with the world's biggest soft drink company over the commercial use of the word "coca" -- the name of an indigenous South American plant.

Billionaire Icahn blasts McDonald's on animal welfare

Asserting that McDonald's had not lived up to prior commitments on animal welfare, billionaire investor Carl Icahn said he planned to offer alternative candidates for the company's board of directors.

Stocks slide as traders track Ukraine crisis

Stock markets moved lower Thursday as investors assessed the latest twists in the Ukraine crisis, while oil prices retreated on further signs of a breakthrough in Iran nuclear talks, analysts said.

Witnesses reel after Ukraine kindergarten shelling

Kindergarten worker Natalia Slesareva's ears were ringing after she was thrown against a door by a shell blast during an attack that has sent tensions soaring, amid fears that Russia will invade Ukraine.

Nestle cautious on 2022 targets, given rising costs

Swiss food giant Nestle was cautious Thursday about its 2022 targets in the face of rising costs, despite robust results thanks to its shift towards the booming vegetarian market.

Top US air safety regulator to step down in March

Steve Dickson, the top US air safety regulator, whose tenure overlapped a period of extreme upheaval in aviation, will step down next month, citing family reasons, authorities said Thursday.

Walmart reports solid Q4 profits on strong US consumer

Walmart reported better-than-expected quarterly profits Thursday as strong consumer demand during the festive season offset the hit from higher costs.

Air France-KLM slashes losses by half in 2021

French-Dutch aviation giant Air France-KLM on Thursday said its net loss narrowed by more than half last year but would need more capital strengthening measures due to the pandemic.

G20 warned of Ukraine threat to global recovery

The crisis in Ukraine is a serious threat to the global economy's post-pandemic recovery, Indonesia's leader on Thursday warned a meeting of finance chiefs from the G20 nations.

Mozambique's ex-president Guebuza to testify in debt scandal

Ex-president Armando Guebuza was on Thursday expected to testify in Mozambique's biggest corruption scandal, an affair concerning secret loans contracted under his tenure that triggered an economic crisis.

'No basis': Beijing dismisses US's WTO criticism

Beijing on Thursday dismissed the United States' assessment of China's World Trade Organization membership, saying its criticism had "no basis in international economic and trade rules".

Dubai Telegraph - Economy (English)