
AFP
18587 articles published since 08 Mar 2022
18587 articles published since 08 Mar 2022
UK unemployment increased in the three months to the end of June while wages grew at record annual pace, official data showed Tuesday, as the economy struggles with high inflation. The ONS figures also showed that regular pay excluding bonuses was 7.8 percent higher in the three months to the end of June compared to the same period last year.
German Foreign Minister Annalena Baerbock was forced Tuesday to scrap her trip to Australia, New Zealand and Fiji after her plane suffered recurring technical problems, the latest in a series of incidents with the German fleet.
Lucasfilm's visual effects and animation studio in Singapore will close down in the coming months due to economic reasons, parent firm Disney said on Tuesday. "Over the next several months, ILM will be consolidating its global footprint and winding down its Singapore studio due to economic factors affecting the industry," Disney said in a statement.
Russia's central bank on Tuesday hiked its key interest rate from 8.5 to 12 percent, after the ruble crashed to a more than 16-month low against the dollar. The bank is next scheduled to consider its key rate on September 15.
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.
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 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 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 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.
AFP
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