Credit Suisse said Monday it would pay $495 million to settle a row over mortgage-backed securities dating back to the 2008 financial crisis.. Last year, Credit Suisse also paid $600 million to financial guarantee insurer MIBA to settle other long-running litigation connected to the US subprime mortgage crisis.
Britain's new finance minister Jeremy Hunt will unveil tax and spending measures later Monday, bringing forward part of his fiscal plan to calm markets after a botched debt-fuelled budget.. Hunt, who was parachuted into the job on Friday to replace sacked Kwasi Kwarteng, will "make a statement bringing forward measures from the medium-term fiscal plan" that is due on October 31, the Treasury said in a statement.
As the UN steps up calls to make the switch to renewable energy to fight the global climate emergency, Portugal is among the first European Union countries to abandon coal.. The UN's World Meteorological Organization called Tuesday for the world to double the supply of electricity from renewables by 2030 to prevent climate change from undermining global energy security.
Japanese food is famously paired with sake, but winemakers near Mount Fuji are on a mission to prove their bottles go just as well with crispy tempura and delicately sliced raw fish.. "So they have this really big focus on the quality rather than the quantity," he told AFP. Japan's wine industry can grow a niche appeal by focusing on its unique tastes and how well the wine accompanies Japanese or fusion food, he said.
Asian equities dropped Monday, tracking a selloff on Wall Street as last week's rally ran out of steam on fresh worries about rising interest rates and surging inflation.. All three main indexes on Wall Street finished sharply lower Friday, and Asia followed suit Monday.
Miner Thokozani Mtshweni, 37, looks spent as he readies for a 12-hour shift huddled under a carport shelter to avoid the scorching sun.. After a decade spent in the pits, Mtshweni, the miner, is among those fearing for their future.
Qatari landlords eyeing profit from the looming World Cup have been kicking out a growing number of mostly foreign tenants, sometimes with just a few days' notice.. Reem, a foreigner working for a major Qatari company, was told she had a week to leave her apartment.
China is investing billions in Europe's video game industry, but analysts have warned that there could be trouble along the road unless regulators start to take stricter notice.. As Beijing tightens up on the video game industry at home, China's tech giants are looking to make investments overseas -- prompting concerns ranging from data security to limits on creative freedom.
Elon Musk said Saturday that his company SpaceX will continue to pay for Starlink satellite internet in war-torn Ukraine, one day after the tech mogul suggested he could not keep funding the project.. In a series of tweets Friday, Musk had detailed the logistics of the operation and said it was costing SpaceX nearly $20 million per month, and suggested the company could not fund it indefinitely.
As China's leaders gather for a crucial party congress, the country is expected on Tuesday to announce some of its weakest quarterly growth figures since 2020, its economy hobbled by Covid restrictions and a real estate crisis.. That would be China's weakest growth rate in four decades, excluding 2020 when the global economy was hammered by the emergence of the coronavirus.
