Economy
Profits fall at McDonald's as it redoubles value push
Fast food giant McDonald's vowed Monday to win back consumers with better value offerings after it reported a rare sales decline that the company partly attributed to an exodus of inflation-weary low-income consumers. The summer offering is a pitch to inflation-weary consumers to "help your dollar go further," said a June 20 company announcement.
UK warns of extra £22bn hole in public finances
Britain's Labour finance minister Rachel Reeves declared Monday that the public finances face an extra £22-billion hole inherited from the previous Conservative administration and warned of "difficult decisions" ahead to cut spending or hike taxes.
France probes ultra-left link to rail sabotage
France was on Monday probing the possible involvement of ultra-left movements in attacks that paralysed the rail network at the start of the Olympic Games, as new sabotage acts affected fibre optic cables in several areas.
From ice baths to osteopaths: unproven therapies at the Olympics
The Paris Olympics have been a showcase not only for athletic prowess but also for therapies such as ice baths and osteopathy which have little scientifically proven medical value, according to experts. Mathieu emphasised she was not too worried about osteopathy being given a showcase at the Olympics, where routine care is often a mix of physiotherapy and osteopathy.
UK facing £22bn hole in public finances: minister
Britain's Labour finance minister Rachel Reeves declared Monday that public finances faced an extra hole of £22 billion inherited from the Conservatives, who warned she was readying tax hikes.
Ethiopia currency slides as central bank eases forex curbs
Ethiopia's central bank announced on Monday that it was easing curbs on its foreign exchange regime, a move which saw the value of the local currency slide by about 30 percent.
Ethiopia eases curbs on foreign exchange regime
Ethiopia's central bank announced on Monday that it was easing curbs on its foreign exchange regime, a move which saw the value of the local currency slide by about 30 percent. The National Bank of Ethiopia announced a series of foreign exchange reforms which it said involved "significant new policy changes".
Asian markets extend Wall St rally after US data and ahead of Fed
Asian markets rallied Monday, tracking a surge on Wall Street after data showing US inflation slowed further in June stoked hopes the Federal Reserve will cut interest rates. With inflation cooling and economic data underperforming, a rate hike now would be premature.
Finance minister to reveal fiscal audit of 'broke' Britain
Finance minister Rachel Reeves will on Monday claim Britain is "broke and broken" when she reveals the findings of an assessment into the country's public finances ahead of a forthcoming budget.
Economy
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