Zürcher Nachrichten

US loses last triple-A credit rating as Moody's cuts over govt debt

The United States lost its last triple-A credit rating from a major agency Friday as Moody's announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump's narrative of economic strength and prosperity.

US loses last triple-A credit rating as Moody's cuts on growing govt debt

The United States lost its last triple-A credit rating from a major agency on Friday as Moody's announced a downgrade, citing rising levels of government debt and dealing a blow to Donald Trump's narrative of economic strength and prosperity.

US Fed plans to cut workforce by 10% in next 'couple of years'

US Federal Reserve Chair Jerome Powell told staff on Friday that the bank plans to cut its workforce by around 10 percent in "the next couple of years," according to a memo seen by AFP.

Trump family hotel project in Serbia in doubt after forgery probe

The future of a luxury property development by Donald Trump's son-in-law in Belgrade has been thrown into doubt over suspicions that documents used to revoke the site's protected status were forged.

Stock markets seek to hold onto gains

Global stock markets struggled for direction on Friday as they sought to hold onto weekly gains fuelled by the China-US trade war hiatus.

Ozempic-maker Novo Nordisk says CEO to step down

Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, said Friday its chief executive was stepping down in the wake of "market challenges".

Eurovision door still open for Celine Dion comeback

As excitement builds for Saturday's Eurovision final, one question looms large: could superstar Celine Dion, now in fragile health, make a show-stopping appearance, 37 years after winning the competition?

Ramaphosa's talks with Trump chance to reset tattered ties

South Africa's President Cyril Ramaphosa travels to the United States next week to meet Donald Trump in a bid to rescue deteriorating relations with a vital and increasingly critical trade partner.

APEC says 'concerned' over challenges to global trade

The Asia-Pacific Economic Cooperation group said Friday that it was "concerned" over the challenges to global trade, as ministers from APEC countries met in South Korea in the shadow of growing woes from US tariffs.

APEC says 'concerned' over challanges to global trade

The Asia-Pacific Economic Cooperation group said Friday that it was "concerned" over the challenges to global trade, as ministers from APEC countries met in South Korea in the shadow of growing woes from US tariffs.

Asian markets stagger into weekend as trade rally runs out of legs

Markets limped into the weekend as investors consolidated gains fed by the China-US trade war hiatus, having enjoyed one of their best weeks since Donald Trump unloaded his "Liberation Day" tariff bazooka last month.

Nose cone glitch wipes Australian rocket launch

An Australian aerospace firm said Friday it has scrubbed a historic attempt to send a locally developed rocket into orbit, citing a glitch in the nose cone protecting its payload -- a jar of Vegemite.

Oil prices fall on hopes for Iran nuclear deal

Oil prices fell Thursday while global equities were mixed after President Donald Trump said the United States was close to making a deal on Iran's nuclear program.

Eric Trump says father's energy policies will help crypto

US President Donald Trump's son Eric on Thursday assured the world's leading crypto conference that Washington would hoard "a tremendous amount of bitcoin," aided by his father's policies of slashing environmental protections to ramp up energy production.

US rests case in landmark Meta antitrust trial

The US government rested its case against Facebook-owner Meta on Thursday, as it tries to persuade a US judge that the tech giant bought Instagram and WhatsApp to neutralize them as rivals.

Coinbase expects data breach to cost it up to $400 mn

Coinbase on Thursday said criminals bribed and duped their way to stealing cryptocurrency from its users, then tried to blackmail the exchange to keep the crime quiet.

Protests mark buildup to Eurovision semi-final

The 16 competitors in the Eurovision Song Contest's second semi-final went through a last dress rehearsal marked by protests Thursday ahead of a show when six of them will crash out.

US set to lose $12.5 bn in foreign tourism in 2025: industry

The United States is on track to lose some $12.5 billion in revenue from foreign tourists this year, a tourism industry group said Thursday, as the Trump administration has led a crackdown in immigrants.

US retail sales little changed, signs of pullback after pre-tariff rush

Retail sales in the United States were near-flat in April, government data showed Thursday, with indications that spending is slowing after consumers rushed to beat higher prices from President Donald Trump's sweeping tariffs.

US Fed chair warns of potential for 'more persistent' supply shocks

Federal Reserve Chair Jerome Powell on Thursday warned of the possibility of "more persistent" supply shocks, as US central bankers met for talks against a backdrop of uncertainty kicked up by Donald Trump's tariff rollout.

New Cannes Festival policy bans actor accused of rape

The Cannes film festival barred an actor in a prominent French film from the red carpet on Thursday because of sexual assault allegations, unveiling a new policy under pressure from lawmakers and activists.

'Paradigm shift': Germany says to meet Trump's NATO spending target

Germany under new Chancellor Friedrich Merz surprised NATO allies on Thursday by signalling plans to massively boost defence spending to five percent of GDP as demanded by US President Donald Trump.

Struggling steel giant Thyssenkrupp's shares slump after profit hit

Thyssenkrupp's shares slumped Thursday after it reported worse-than-expected earnings and its steel business took a fresh hit, in more bad news for the struggling German industrial titan.

French chauffeur to face trial over alleged theft from UK minister

A chauffeur faces trial later this year charged with stealing money and baggage from Britain's top diplomat after driving David Lammy and his wife hundreds of kilometres from Italy to an Alpine ski resort in France, a prosecutor said.

China's Alibaba posts annual revenue increase despite spending slump

Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties that include sluggish spending and threatened trade.

Tracking the disinfo on Macron's 'cocaine use' in Ukraine

Unsubstantiated claims of supposed cocaine use by French President Emmanuel Macron and German Chancellor Friedrich Merz on a train to Ukraine last weekend may have started from a French account.

Germany's Commerzbank staff protest UniCredit takeover threat

Dressed as a Gallic warrior fighting Roman invaders or wearing the yellow of the Commerzbank logo, employees from the German lender protested Thursday against any takeover attempt by Italy's UniCredit.

China warns Panama ports deal firms to 'proceed with caution'

China urged parties involved in Hong Kong conglomerate CK Hutchison's sale of Panama Canal ports to exercise "caution" Thursday, warning of legal consequences should they proceed without clearance from Beijing.

China's Alibaba says annual revenue up six percent year-on-year

Internet giant Alibaba posted on Thursday a six percent increase in annual revenue, the latest positive sign for China's tech sector despite persisting economic uncertainties.

India says Pakistan nuclear arsenal should be under UN surveillance

Pakistan's nuclear arsenal should be under the surveillance of the UN's nuclear watchdog, Indian Defence Minister Rajnath Singh said Thursday, following a four-day conflict between Islamabad and New Delhi last week.

UK economy grows above forecasts, but tariffs threaten progress

Britain's economy grew more than expected in the first quarter, official data showed Thursday, covering the period before business tax hikes and US President Donald Trump's tariffs blitz took effect.

Eurovision: the 16 acts in second semifinal

Sixteen countries are competing in the Eurovision Song Contest's second semifinal on Thursday, with viewers deciding which 10 go through to the grand final.

Zürcher Nachrichten - Economy (English)

Featured

'Alpha predator' sharks and humans clash on an Israeli beach

Lights, cameras, action at Eurovision Song Contest final

Last news