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French debt in spotlight as ratings agencies sound alarm
France's surging national debt is causing increasing alarm with the country risking a fresh warning on Friday over its credit rating after a downgrade. Leading ratings agency Fitch in April lowered its rating on France's debt, which is approaching three trillion euros ($3.2 trillion).
Nigeria grapples with end of fuel subsidy
Nigerians are struggling with surging fuel prices after newly elected President Bola Tinubu declared an end to popular subsidies, a move analysts and experts said was long overdue. On his first day in office, Tinubu kept to his campaign promise and announced an end to the long-running arrangement, which has given Nigerians access to cheap petrol.
Saudi-Russian discord clouds OPEC+ talks
Signs of discord between top crude oil producers Saudi Arabia and Russia are set to overshadow an OPEC+ output policy meeting on Sunday that will test their alliance. Analysts are now divided over whether Saudi Arabia and Russia will keep the group on course with its current output policy, or further curtail production in a bid to prop up prices.
US averts first-ever default with 11th-hour debt deal
US senators voted to suspend the federal debt limit Thursday, capping weeks of fraught negotiations to eliminate the threat of a disastrous credit default just four days ahead of the deadline set by the Treasury. Around 80 years ago, lawmakers introduced a limit on how much federal debt could be accrued.
Asian markets surge on Fed rate hopes
Asian markets rallied Friday on hopes the US Federal Reserve will decide against lifting interest rates this month as officials assess the impact of more than a year of tightening. Expectations are already running high that the Fed will hold its horses on rates for the first time in more than a year when it meets later this month, but comments from two officials added to the optimism.
For small-time investors, bankrolling a young athlete can pay off
In February 2021, Dominican baseball superstar Fernando Tatis Jr signed a monster deal with the San Diego Padres -- $340 million over 14 years. Registering Commonwealth with the SEC will force transparency, especially on the financial parameters of the deals signed by the players, Doxtator says.
In distorted Buenos Aires rental market, it's dollar vs. peso
Dollar-wielding foreigners living it up in Buenos Aires while locals scrape by; Argentina's sky-high inflation and weakening currency has yielded a schizophrenic rental market -- a bargain for some, a curse for others. But they earn in pesos -- a currency trading at 488 to the dollar on the black market, where most people do their trading.
At its 787 Dreamliner factory, Boeing prepares for takeoff
As airlines seek to fulfill customers' growing post-pandemic appetites for long-haul travel, Boeing is aiming to speed up production of its 787 Dreamliners after a period plagued by repeated delivery interruptions due to manufacturing defects. Boeing has historically dominated the high-margin long-haul manufacturing scene with its 787 and 777 configurations, competing with Airbus's A350 and A330.
Boeing's first crewed space launch delayed, again
Boeing has once again delayed the first crewed flight of its Starliner space capsule after discovering new technical issues, officials said Thursday.
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