Economy

Economy Latest News

China hawk Takaichi named Japan's first woman PM
China hawk Takaichi named Japan's first woman PM
by  AFP

Japan got its first woman prime minister on Tuesday after Sanae Takaichi, a China hawk and social conservative, forged an 11th-hour coalition deal. Parliament appointed Takaichi, an admirer of Margaret Thatcher, as prime minister on Tuesday, after she unexpectedly won a majority in a first round of voting.

Crisis-hit Argentina inks $20 bn rescue with US
Crisis-hit Argentina inks $20 bn rescue with US
by  AFP

Argentina and the United States signed off on a $20 billion financial lifeline Monday, hoping to avert economic meltdown and boost President Javier Milei ahead of tough legislative elections. President Donald Trump has plied Argentina with political and economic support ahead of the October 26 vote, which will decide whether his close ally Milei can force through labor, tax and pension reforms.

Servers, software and data: how the cloud powers the web
Servers, software and data: how the cloud powers the web
by  AFP

The outage that hit the world's leading cloud provider Amazon Web Services on Monday has highlighted global reliance on the technology, which offers businesses on-demand IT resources without heavy investment in expensive server farms.

Brazil greenlights oil drilling in sensitive Amazon region
Brazil greenlights oil drilling in sensitive Amazon region
by  AFP

Brazil's Petrobras said Monday it has permission to drill for oil near the mouth of the Amazon River, casting a shadow over the country's green ambitions as it prepares to host UN climate talks. Brazil will host COP30 climate talks in the Amazon city of Belem next month.

Shares in French bank BNP Paribas plummet after US verdict
Shares in French bank BNP Paribas plummet after US verdict
by  AFP

Shares in France's biggest bank, BNP Paribas, sank more than seven percent in trading on Monday, following a US court verdict late last week finding it liable for atrocities committed in Sudan. The big drop in BNP Paribas's shares in afternoon Paris trading outstripped a decline for other French banks, which sank around one percent.

Internet services cut for hours by Amazon cloud outage
Internet services cut for hours by Amazon cloud outage
by  AFP

Many popular internet services, from streaming platforms to messaging services and some banks, went offline for hours on Monday due to an outage in Amazon's crucial cloud network. The disruption affected streaming platforms, including Amazon's Prime Video service and Disney+, as well as Perplexity AI, the Fortnite game, Airbnb, Snapchat and Duolingo.