Economy
Struggling US retailer Macy's to close 150 stores
The iconic but struggling US department store Macy's announced plans on Tuesday to close almost a third of its eponymous locations by 2026 while building up its upscale Bloomingdale's and Bluemercury brands.
Thousands of Nigerians protest soaring costs
Thousands of Nigerians rallied against soaring living costs on Tuesday as the worst economic crisis in a generation leaves many struggling to afford food. In the north, the economic crisis has forced people to eat poor-grade rice used as fish food.
US retailer Macy's to close 150 stores
The iconic but struggling US department store Macy's announced plans on Tuesday to close around 150 locations by 2026, while concentrating investments in its more upscale Bloomingdale's and Bluemercury brands. Luxury brands Bloomingdale's and Bluemercury have been "outperformers within the Macy's, Inc. portfolio," the statement said.
UK 'net zero' economy bucks recession: study
Britain's green economy grew in 2023 to buck a broader recession, a report showed Tuesday that urged politicians heading into a general election to stick by climate-friendly investments. The overall British economy slipped into recession in the last six months of 2023, according to official data.
Protesting Spanish farmers block roads near French border
Spanish farmers in the northeastern Catalonia region hit the roads again Tuesday to protest about the sector's struggles, blocking motorways with tractors including a busy highway linking Spain with southern France.
WTO approves services trade rules, overcoming objections
The World Trade Organization Tuesday enshrined new rules facilitating trade in services between more than 70 member states, the European Union's trade commissioner said, despite initial objections from India and South Africa. It will help reduce the costs of global services trade by more than $119 billion every year, it added.
Economic pain casts dark shadow as Iranians go to vote
As Iranians head to the polls for legislative and other elections on Friday, candidates have promised them on campaign posters to "fight corruption" and "fix the economy". A recent poll conducted by Iran's state television found that more than half of respondents were indifferent to the elections.
France makes mincemeat of 'veggie steak' label
The French government issued a decree Tuesday banning the term "steak" on the label of vegetarian products, saying it was reserved for meat alone. Other terms that can no longer be used for meat-free products include "escalope", "ham", "filet" and "prime rib", according to the decree.
Lebanese escape Israel-Hezbollah war fears to ski slopes
Days ago, Tala Assaad could hear Israeli strikes near south Lebanon's coastal city of Sidon. On the Israeli side, 10 soldiers and six civilians have been killed, according to the army, while tens of thousands have been displaced.
Economy
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