Economy
On yer bike: London firms turn to cargo bikes
On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his next job by bike. Like Hume-Wright, environmental considerations were a key factor for the switch.
Illegal mining, smuggling threaten Ghana's cocoa industry
Ghana, the world's second biggest cocoa producer, faces a growing risk to its harvest -- and blow to its crisis-hit economy -- from illegal mining and smugglers, industry officials, farmers and activists warn. Along with gold and oil, the cocoa industry is a mainstay of Ghana's economy and foreign currency earnings.
Toyota subsidiary to halt shipment of all models over rigged safety tests
Toyota subsidiary Daihatsu said Wednesday it will suspend shipments of all car models currently in production both in Japan and abroad, following new revelations about its rigging of safety tests.
Waning influence of OPEC+ in spotlight as prices flag
Despite slashing oil production for months on end and announcing new cuts in late November, the Organization of the Petroleum Exporting Countries (OPEC) and its ten allies have struggled to boost flagging prices. Prices are sitting at their lowest level in nearly six months despite the cartel's announcement in November to further cut output.
Asian markets track another Wall St record on rate hopes
Asian stocks rallied Wednesday, following another record performance on Wall Street as traders continue to bet on the US Federal Reserve slashing interest rates several times next year. Still, Wall Street enjoyed another strong day, with the Dow finishing at a fifth straight record high, while the S&P 500 approached its own all-time peak.
Spain takes 10% of Telefonica following Saudi stake
Spain said Tuesday it will acquire 10 percent of local telecoms giant Telefonica, just months after Saudi Telecom took a significant stake in the operator. The move follows the September announcement by Saudi Telecom (STC) it had paid 2.1 billion euros ($2.3 billion) for a 9.9 percent share in Telefonica which has a strong presence in Latin America and the United Kingdom.
US-EU steel talks in limbo as elections loom
The United States and the European Union remain far from resolving a gridlock on their trade in metals, even as both sides agreed to extend a truce this week ahead of a year-end deadline. - "If the United States wants to maintain global influence in setting the rules of international trade, it needs partners on its side," Manak noted.
Paris hotels angry over tourist tax hike ahead of Olympics
Paris hoteliers were up in arms on Tuesday over a government plan to triple the tax paid by visitors on nights at hotels next year when the capital hosts the Olympics. The government is to triple that fee as part of its 2024 budget, which it plans to ram through parliament without a vote before Christmas.
Pfizer sues Poland and Hungary over Covid debts
Pharmaceutical firms Pfizer and BioNTech are suing the governments of Poland and Hungary alleging they failed to pay for vaccines ordered during the Covid pandemic, lawyers said Tuesday.
Economy
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