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UK to reveal £20 bn hole in public finances: reports
Britain's new Labour government will announce next week that the country's public finances have an additional hole of around £20 billion ($26 billion), risking tax rises in an upcoming budget, media reported on Friday.
Gaming sector recovery on flamboyant display at ChinaJoy expo
A long-haired sorcerer wearily checked his smartphone as elves and androids bustled past at the digital entertainment expo ChinaJoy on Friday, the crowds a testament to the local gaming industry's tentative recovery after a period on pause. "I fully see the recovery is happening.
US Fed's favored inflation measure cools further in June
The US Federal Reserve's favored inflation measure eased further in June, according to government data published Friday, in more good news for policymakers ahead of next week's interest rate decision. Stripping out volatile food and energy prices, the closely watched core measure of inflation eased to an annual rate of 2.6 percent in June -- also in line with expectations. da/dw
'Sabotage' on French rail network before Olympics: What we know
Arson attacks scrambled France's high-speed rail network for tens of thousands of passengers on Friday, after what officials called premeditated acts of "sabotage" just hours before the Paris Olympics opened.
Electric car woes force German supplier ZF to axe jobs
German car parts manufacturer ZF said Friday it would cut a fifth to a quarter of jobs in Germany as it struggled with the switch to electric vehicles and foreign competition. The switch to electric vehicles was eating away at demand for "transmissions for conventional and hybrid vehicles", an area where German suppliers have traditionally excelled, it said.
Greece's 'Instagram island' Santorini nears saturation point
One of the most enduring images of Greece's summer travel brand is the world-famous sunset on Santorini Island, framed by sea-blue church domes on a jagged cliff high above a volcanic caldera. In the south of the island, the volcanic sand beaches are less crowded, even though it is high season in July.
TSMC leads chipmaker plunge as trade resumes after typhoon pause
Taiwanese giant TSMC tumbled with several other leading chip makers Friday as traders returned from a typhoon-imposed two-day break to play catch-up with a global tech rout. The rally in all things tech helped TSMC, which is also listed in New York, to briefly break the US$1 trillion market capitalisation barrier this month, putting it ahead of Tesla as the seventh most valuable technology firm.
Asian markets battle to recover from tech rout after US data
Asian traders struggled to fight back Friday after a tech-fuelled sell-off, taking heart from forecast-beating US growth data that reassured that the economy was still in rude health, but did not dent hopes for an interest rate cut.
In swing state Pennsylvania, middle class struggles to get by
The giant steelworks that greets visitors to Allentown, Pennsylvania once symbolized the city's success as an industrial hub. - More visitors at food pantries - On Friday, all eyes will be on new inflation figures from the US government.
AFP
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