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Adidas books profit as it sells off Kanye inventory
Adidas said Thursday it booked a profit in the second quarter, showing tentative signs of recovery as it sells off its huge inventory of rapper Kanye West's Yeezy merchandise. "We will continue to carefully sell off more of the existing Yeezy inventory.
Russian oil price cap under growing scrutiny as prices rise
When the West rolled out its unprecedented price cap on Russian oil late last year, it hoped to starve Moscow of much-needed revenue while minimising the impact on other countries. Moscow had taken its own steps to soften the impact of the price cap, including before its introduction eight months ago.
Nigerian workers suspend strike over cost of living crisis
Nigerian workers have suspended a nationwide strike over the rising cost of living following the removal of a petrol subsidy scheme, the government and union leaders said Thursday. Under the now-dropped subsidy scheme, the government covered the difference between the cost of import and prices at the pump.
Turkish inflation ticks up in July at 47.83 percent
Turkey's annual inflation climbed in July to 47.83 percent, up sharply from 38.2 percent, official data showed on Thursday, a week after the central bank more than doubled its year-end forecast. Last week, the central bank revised its year-end inflation forecast to 58 percent from 22.3 percent after years of doubts from independent economists about the official rate.
Hollywood A-listers donate millions to aid striking actors
A dozen of Hollywood's highest-earning stars, from George Clooney to Meryl Streep, have each donated $1 million or more to support out-of-work actors as their strike enters its fourth week, their union's charitable foundation said Wednesday.
Zimbabwe election disinformation spreads on WhatsApp
From doctored photos making small crowds big to posts praising government accomplishments that never were, WhatsApp has become the channel of choice for disinformation in Zimbabwe before this month's elections.
Austria farmers up in arms over Brussels GMO plans
The European Commission's proposal to ease current restrictions on genetically modified crops has riled up EU organic farming leader Austria and its farmers.
Traders struggle to recover from selloff as Fed rate fears linger
Asian markets fluctuated Thursday following a plunge on Wall Street as a forecast-beating US jobs report revived worries about the Federal Reserve's interest rate-hiking campaign. Data from private payrolls firm ADP showing companies created 324,000 new jobs last month -- smashing forecasts of 190,000 -- suggested the labour market remained tight.
BoE set for fresh rate hike as UK inflation stays high
The Bank of England is set to raise its key interest rate for a 14th time in a row Thursday as UK inflation stays high, adding to a cost-of-living crisis. - Highest since financial crisis - At five percent, the bank's interest rate is at the highest level since the global financial crisis in 2008.
AFP
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