China, South Africa agree to seek balanced trade, more investments
China and South Africa, whose top leaders met in Beijing, agreed to promote balanced trade and discussed boosting two-way investments between their industrial and commercial communities, a joint statement on Tuesday showed. President Xi Jinping and his South African counterpart…
Robot waiters in Kenya create buzz, and concerns about what it means for human labor
Children giggle as young people flash their smartphones to film robots carrying plates of freshly prepared meals on their inbuilt trays to deliver to diners in a busy eatery in Kenya’s capital. Nairobi has a vibrant tech industry with various…
Wall St Week Ahead — US stock rally broadens as investors await Fed
New York — A broadening rally in U.S. stocks is offering an encouraging signal to investors worried about concentration in technology shares, as markets await key jobs data and the Federal Reserve’s expected rate cuts in September. As the market’s…
Algeria joins BRICS New Development Bank
Algiers — Algeria has been approved for membership in the BRICS New Development Bank (NDB), the country’s finance ministry has announced. The decision was taken on Saturday and announced by NDB chief Dilma Roussef at a meeting in Cape Town,…
High rents are forcing small businesses in into tough choices
NEW YORK — While many costs have come down for small businesses, rents remain high and in some cases are still rising, forcing many owners into some uncomfortable decisions. “Every time the rent goes up, we have to raise prices,…
Lowest euro zone inflation in 3 years sets up ECB for cut
FRANKFURT/TALLINN — Inflation in the euro zone fell to its lowest level in three years in August, setting the stage for a further cut in the European Central Bank’s interest rates next month despite an Olympics-driven surge in the price…
US second quarter growth stronger than estimated, government says
Washington — The U.S. economy expanded more than initially estimated in the second quarter this year, the Department of Commerce said Thursday, on stronger consumer spending than originally anticipated. The world’s biggest economy grew at an annual rate of 3.0%…
US clean energy jobs growth rate double that of overall jobs, report says
Washington — Jobs in the U.S. clean energy industry in 2023 grew at more than double the rate of the country’s overall jobs, and unionization in clean energy surpassed for the first time the rate in the wider energy industry,…
Wall Street Week Ahead — ‘Super Bowl’ Nvidia earnings stand to test searing AI trade
New York — The rally in U.S. stocks faces an important test […] with earnings from chipmaking giant Nvidia NVDA.O, whose blistering run has powered markets throughout 2024. The S&P 500 .SPX has pared a sharp drop it suffered after…
Fed’s actions spoke louder than words in inflation fight, research shows
JACKSON HOLE, Wyoming — The Federal Reserve’s credibility in the eyes of financial markets helped in its battle against inflation over the past two years, but it had to be earned afresh with interest rate hikes that backed up policymakers’…