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Games giant Ubisoft bets on reorganisation to dispel blues

Struggling French video games giant Ubisoft shed light on a far-reaching reorganisation of its business Tuesday, as it reported disappointing sales in April-June.

Trump says confident US to reach Philippines trade deal

US President Donald Trump voiced confidence Tuesday at reaching a trade deal with the Philippines to ease his threatened tariffs as he welcomed his counterpart Ferdinand Marcos to the White House.

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Tennis star Becker used business account as 'piggy bank', court hears

Six-time Grand Slam champion Boris Becker used his business account as a "piggy bank" to pay for luxury shopping expenses and school fees, a British court was told on Tuesday.

Ukrainians in strategic Mykolaiv staying to the end

Ukraine's strategic city of Mykolaiv is holding out against the Russian invasion, in part due to the tenacity of its residents.

Debt-ridden Evergrande says lenders lay claim over $2.1 bn

Chinese developer Evergrande said Tuesday it is investigating how lenders have laid claim to deposits valued at more than 13.4 billion yuan ($2.1 billion) for its subsidiary, the latest black mark against the debt-ridden property giant.

Athletics chief Coe warns over 'fragile' future of women's sport

World Athletics chief Sebastian Coe says women's sport faces a "fragile" future unless sporting federations get the regulations right over the participation of transgender athletes.

Japan issues power warning after quake hits supply

Japan's government warned on Tuesday of possible widespread electricity outages for Tokyo and its surrounding regions as power plants hit by last week's powerful earthquake struggled to meet surging demand caused by a cold snap.

China's Russian traders smell profit as Ukraine sanctions bite

For Marat, a Russian businessman based in Shanghai, sanctions on his home country have heralded an unexpected opportunity in China as companies struggle to keep their supply chains open.

Debt-ridden Evergrande urges investor 'caution' as audit result delayed

Debt-ridden Chinese property developer giant Evergrande on Tuesday warned investors to "exercise caution" as the group announced it would delay the release of the results of a 2021 audit a day after halting trade in Hong Kong.

Egypt's currency plunges almost 17% against greenback

The Egyptian pound plunged nearly 17 percent in value against the US dollar on Monday, following a rise in inflation and amid mounting economic hardships.

Fed prepared to raise interest rates 'aggressively:' Powell

The US central bank is prepared to raise interest rates by bigger steps than the quarter-point hike announced last week if that is what's needed to contain "much too high" inflation, Federal Reserve Chair Jerome Powell said Monday.

Mexico City's new international airport opens with few flights

Mexico on Monday opened a new international airport serving the capital -- a flagship project of President Andres Manuel Lopez Obrador -- but so far many airlines are hesitant to use it.

Becker 'acted dishonestly' by failing to hand over trophies, court told

Boris Becker "acted dishonestly" when he failed to hand over nine trophies and medals won during his illustrious tennis career to pay his debts, a British court was told on Monday.

Satellite operator OneWeb switches launches to SpaceX

Global satellite communications company OneWeb said Monday that it will switch launches to Elon Musk's SpaceX, after suspending activities with Russia's Baikonur Cosmodrome in Kazakhstan.

Lebanon central bank chief charged with enrichment, money laundering

A Lebanese judge Monday charged central bank chief Riad Salameh with "illicit enrichment" and money laundering after he failed to attend a court hearing for the fifth time, a judicial source told AFP.

Christie's to auction Warhol portrait of Marilyn Monroe estimated at $200 mn

Christie's announced Monday that it will sell Andy Warhol's 1964 "Shot Sage Blue Marilyn" portrait of Marilyn Monroe for an estimated $200 million.

Plane carrying 132 crashes in China, fatalities confirmed

China Eastern confirmed there had been fatalities after a jet carrying 132 people crashed into a mountain in southern China on Monday, shortly after losing contact with air traffic control and dropping thousands of metres in just three minutes.

Oil prices soar on Saudi, Russian supply fears

Oil prices soared Monday as a weekend attack on Saudi facilities and EU discussions on banning Russian crude raised concerns over global supplies.

Man City top Deloitte Money League for first time

Manchester City have topped Deloitte's Football Money League for the first time in their history after emerging from the coronavirus crisis in a stronger position than their rivals.

Oil prices rally, stocks mixed tracking Ukraine crisis

Oil prices rallied Monday on renewed supply fears as the EU debates banning Russian crude imports and following a weekend attack on Saudi facilities.

Becker faces trial over failure to hand over trophies to settle debts

Boris Becker arrived at a London court on Monday to stand trial over accusations that he failed to hand over trophies he won during his glittering tennis career to settle his debts.

Philippines allows foreign ownership of telcos, airlines

The Philippines on Monday eased restrictions to allow foreign ownership of airline, telecommunications and shipping operators, as it seeks to boost jobs and spur activity in the virus-hit economy.

'The Wire' team returns to Baltimore for corrupt-cop tale

Two decades after cult favourite "The Wire" hit the screens, its creators are back on the mean streets of Baltimore for a new mini-series, "We Own This City".

Nations vet climate solutions as world 'sleepwalks' to catastrophe

Nearly 200 nations gathered Monday to grapple with a question that will outlive Covid-19 and Russia's invasion of Ukraine: how does a world addicted to fossil fuels prevent carbon pollution from making Earth unliveable?

Washington and London ready to resume trade talks in Baltimore

Washington and London have chosen the port city of Baltimore -- just an hour's drive from the US capital -- as the site of Monday's talks on deepening their economic relationship.

Asian, European markets mixed as traders track Ukraine crisis

Asian and European markets were mixed Monday after last week's rally, while oil prices extended gains, with investors keeping tabs on the war in Ukraine as Turkey said Kyiv and Moscow were edging towards a ceasefire agreement.

Asian markets mixed as traders track Ukraine crisis

Asian markets were mixed Monday after last week's rally while oil prices extended gains, with investors keeping tabs on the Ukraine war as Turkey said Kyiv and Moscow were edging towards a ceasefire agreement.

China property giant Evergrande suspends share trading again

Troubled Chinese property developer giant Evergrande and all its units suspended trading in Hong Kong Monday morning, according to a notice to the stock exchange.

Body composting takes root in US 'green' burial trend

A woodpecker settled on a branch overhead as Cindy Armstrong stood near a grouping of trees, gazing at a patch of soil that contained bits of her son's composted remains.

Germany to 'fast-track' gas terminals as part of Qatar deal

Germany has committed to "fast track" the construction of two liquefied natural gas terminals as part of a new long-term deal with Qatar as it looks to reduce dependence on Russian gas, the Gulf state said Sunday.

Nestle says not profiting in Russia after Zelensky swipe

Nestle insisted Sunday that it was not making any profits in Russia after Ukrainian President Volodymyr Zelensky accused the Swiss food giant of doing business as usual.

'Batman' swings high, again topping N.America box office

"The Batman" continued swinging from the rooftops this weekend, taking in an estimated box-office-leading $36.8 million in North American theaters while performing strongly overseas, industry watcher Exhibitor Relations reported Sunday.

Saudi Aramco reports profit surge on day sites hit by Yemen rebels

Oil giant Saudi Aramco on Sunday reported a 124 percent net profit surge for last year, in results released hours after its facilities were hit by Yemeni rebel drone and missile strikes.

Spain hit by yet another mass protest over rising prices

As many as 150,000 farmers, ranchers and hunters marched Sunday through Madrid to protest the Spanish centre-left government's failure to tackle soaring prices exacerbated by Russia's invasion of Ukraine.

Berliner Boersenzeitung - Economy (English)