Bombay Durpun - Economy

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Venezuelan protesters call government wage hike a joke

About 1,500 people demonstrated in Venezuela on Friday, denouncing a 26 percent income increase announced by the government as grossly insufficient in a crisis-hit economy.

S&P 500, Nasdaq end at fresh records on tech earnings strength

The Nasdaq and S&P 500 soared to fresh records Friday, cheering mostly strong earnings from tech giants and continuing to shrug off the prolonged US-Iran war that has lifted oil prices.

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Pope names former undocumented migrant as US bishop of West Virginia

Pope Leo XIV on Friday named a former undocumented migrant as bishop of West Virginia, weeks after a high-profile clash with US President Donald Trump.

Trump says will raise US tariffs on EU cars to 25%

President Donald Trump said Friday that he will hike US tariffs on cars and trucks from the European Union next week, charging that the bloc is not complying with an earlier trade deal.

ExxonMobil CEO sees chance of higher oil prices as earnings dip

US oil giants reported lower earnings Friday with accounting effects muting the benefits of the Middle East oil shock, as ExxonMobil's CEO cautioned that crude prices could still increase.

After Madonna and Lady Gaga, Shakira set for Rio beach mega-gig

Latin pop queen Shakira will bring the heat to Rio de Janeiro on Saturday for her biggest concert to date -- an outdoor party on Copacabana beach.

Coe hails IOC gender testing decision

World Athletics president Sebastian Coe told AFP the IOC's decision in March to introduce testing for gender to determine eligibility to compete in the female category, preventing transgender women from competing, is a "very important development for the Olympic movement".

Baguettes take centre stage on France's Labour Day

French bakeries sold crusty baguettes and flaky croissants with government backing Friday, defying labour unions arguing that May 1 should remain a sacred day of compulsory rest.

Iran offers new proposal amid stalled US peace talks

Iran delivered a new proposal for peace talks with the US via mediator Pakistan, state media reported Friday, with negotiations between the two sides frozen despite a weeks-long ceasefire.

French hub monitors Hormuz tensions from afar

A dozen members of the French navy scour screens for blinking lights indicating movement thousands of kilometres away near the Strait of Hormuz.

Oil steady after wild swing, stocks diverge in thin trading

Oil prices steadied and stocks diverged Friday in thin holiday trading, as investors awaited the next move in the Middle East crisis and digested corporate earnings.

Chinese swimmer Sun Yang reports cyberbullying to police

Three-time Chinese Olympic champion swimmer Sun Yang filed a police report after being subjected to "large-scale" cyberbullying, his team said Friday.

Iran activates air defences as Trump faces congressional deadline

Tehran's air defences were activated to counter small aircraft and drones late Thursday, as the White House signalled that it will not be reined in by a congressional deadline on the Iran war.

Crude edges up after wild swing, stocks track Wall St rally

Oil prices edged up Friday after the previous day's wild swings, with investors awaiting the next move in the Middle East crisis, while stocks rose in holiday-thinned trade following a tech-led record day on Wall Street.

Formerra Appoints Matt Borowiec as Chief Commercial Officer

CLEVELAND, OH / ACCESS Newswire / May 1, 2026 / Formerra, a leading distributor of performance materials, today announced the appointment of Matt Borowiec as Chief Commercial Officer (CCO). Borowiec will lead the company's commercial organization to support continued growth and global expansion while strengthening sales execution and customer success.

Global Experts call for Paradigm Shift in Medicine, Health and Education to Save Lives and Fight Escalating Health Crisis

INNSBRUCK, AUSTRIA / ACCESS Newswire / May 1, 2026 / A global consortium of 64 experts (72 entities, 5 continents) unveiled two coordinated consensus plus policy brief reports, outlining a science‑driven roadmap to confront escalating health crises and to tackle the growing burden of noncommunicable diseases (NCDs-including cardiovascular diseases, cancer, diabetes, etc.: 75% of global deaths; 82% in low-/middle income countries; 90% of all death in European region).

Oil slumps after hitting peak, US indices reach new records

Oil prices struck a four-year high Thursday on worries about a resumption of hostilities in the Middle East, before slumping to end the day.

Venezuela leader hikes minimum wage package by 26%

Venezuela's acting president Delcy Rodriguez on Thursday hiked the minimum wage package by 26.3 percent, to $240, in an attempt to quell growing discontent over difficult living conditions.

Bangladesh signs biggest-ever plane deal for 14 Boeings

Bangladesh on Thursday signed a deal with US aircraft manufacturer Boeing to buy 14 planes for its national carrier Biman Bangladesh Airlines, the two sides announced -- the airline's biggest-ever order, in a deal valued at $3.7 billion.

Venezuela opens arms to world with Miami-Caracas flight

A relaunched Miami-Caracas flight after seven years of a standstill is paving the way for Venezuela to reclaim its status as a bustling aviation hub.

US Congress votes to end record government shutdown

The US Congress on Thursday approved funding for most of the Department of Homeland Security (DHS), ending a record-breaking partial government shutdown that has disrupted critical agencies for more than two months.

First direct US-Venezuela flight in years arrives in Caracas

The first direct flight between the United States and Venezuela in seven years landed Thursday in Caracas, a new sign of a thaw after Washington deposed leftist leader Nicolas Maduro.

Oil strikes 4-year peak, stocks rise

Oil prices struck a four-year high on Thursday on worries over a resumption of hostilities in the Middle East, while US and European stock markets mostly rose as investors turned to central bank decisions and corporate earnings.

ECB warns of risks from Mideast war as it holds rates

The European Central Bank held interest rates steady on Thursday and warned of growing risks to the growth and inflation outlook thanks to the war in the Middle East.

Iran's supreme leader defies US blockade as oil prices soar

Iran's supreme leader declared Thursday that the United States had suffered a shameful defeat, defiantly rejecting a warning from President Donald Trump that an economically-punishing US naval blockade could be enforced for months to come.

White House against Anthropic expanding Mythos model access: report

The White House is opposing Anthropic's plans to expand access to its new artificial intelligence model Mythos to 120 companies, the Wall Street Journal reported Wednesday.

Nigerian airlines avert shutdown as Mideast war hikes fuel prices

Nigerian airlines continued flying on Thursday despite threatening a shutdown over sky-high jet fuel prices roiling the industry in Africa's top crude producer and most populous nation.

ArcelorMittal boosts sales but profits squeezed

Steel giant ArcelorMittal said Thursday that while first-quarter sales had risen, adverse exchange rates hit net profits, but added that it was well placed to benefit from European restrictions on imports.

German growth beats forecast but energy shock looms

Germany's struggling economy expanded slightly faster than expected at the start of the year, data showed Thursday, but the positive momentum could be derailed by the Iran war energy shock.

Air France-KLM trims 2026 outlook over Middle East war impact

Air France-KLM cut back its 2026 outlook as it said higher fuel prices caused by the Middle East war would weigh down its fuel bill by more than a third.

Oil surges 7% to top $126 on Trump blockade warning

Oil prices soared more than seven percent to a four-year high above $126 Thursday after Donald Trump warned the US blockade of Iranian ports could last months and a report said he would be briefed on potential fresh military strikes.

Volkswagen warns of more cost cuts as profits plunge

Volkswagen's future is at risk without further cost-cuts, the ailing German auto giant warned Thursday after profits plunged more than feared as headwinds mount.

Rolls-Royce confident on profits despite Mideast war disruption

British engine-maker Rolls-Royce maintained its full-year profit guidance on Thursday, as it expects to "fully mitigate" disruption from the Middle East war.

French economy records zero growth in first quarter

France's economy recorded zero growth in the first quarter of this year due to "sluggish" domestic demand and a "strongly" negative contribution from foreign trade, the national statistics agency INSEE said Thursday.

Bombay Durpun - Economy (English)