Latest news with #A1.3
The Advertiser
6 days ago
- Business
- The Advertiser
Demos decry 'overtourism' in Spain, Portugal and Italy
Thousands of people have taken to the streets of cities in southern Europe to demonstrate against overtourism, firing water pistols at shop windows and setting off smoke in Barcelona, where the main protest took place. "Your holidays, my misery," protesters chanted in the streets of Barcelona while holding up banners emblazoned with slogans such as "mass tourism kills the city" and "their greed brings us ruin". Under the umbrella of the SET alliance - Sud d'Europa contra la Turistització, or Catalan for "Southern Europe against Overtourism" - protesters joined forces with groups in Portugal and Italy, arguing that uncontrolled tourism was sending housing prices soaring and forcing people out of their neighbourhoods. Barcelona, a city of 1.6 million, drew 26 million tourists last year. Authorities in the northeastern Spanish city said about 600 people joined the demonstration there, some firing water pistols or setting off coloured smoke and putting stickers saying "Neighbourhood self-defence, tourist go home" on shop windows and hotels. Outside one hotel, an agitated worker confronted the protesters saying he was "only working" and was not the venue's owner. There were similar demonstrations in other parts of Spain including Ibiza, Malaga, Palma de Mallorca, San Sebastian and Granada. Protests in Italy took place in cities including Genoa, Naples, Palermo, Milan and Venice, where locals oppose the construction of two hotels that will add about 1500 new beds to the city, the organisers told Reuters. In Barcelona, the city government said last year it would bar apartment rentals to tourists by 2028 to make the city more liveable for residents. "I'm very tired of being a nuisance in my own city. The solution is to propose a radical decrease in the number of tourists in Barcelona and bet on another economic model that brings prosperity to the city," Eva Vilaseca, 38, told Reuters at Sunday's demonstration in Barcelona, dismissing the common counterargument that tourism brings jobs and prosperity. International travel spending in Europe is expected to rise by 11 per cent to $US838 billion ($A1.3 trillion) this year, with Spain and France among the countries set to receive record numbers of tourists. A protest in Lisbon was scheduled for later on Sunday afternoon. Thousands of people have taken to the streets of cities in southern Europe to demonstrate against overtourism, firing water pistols at shop windows and setting off smoke in Barcelona, where the main protest took place. "Your holidays, my misery," protesters chanted in the streets of Barcelona while holding up banners emblazoned with slogans such as "mass tourism kills the city" and "their greed brings us ruin". Under the umbrella of the SET alliance - Sud d'Europa contra la Turistització, or Catalan for "Southern Europe against Overtourism" - protesters joined forces with groups in Portugal and Italy, arguing that uncontrolled tourism was sending housing prices soaring and forcing people out of their neighbourhoods. Barcelona, a city of 1.6 million, drew 26 million tourists last year. Authorities in the northeastern Spanish city said about 600 people joined the demonstration there, some firing water pistols or setting off coloured smoke and putting stickers saying "Neighbourhood self-defence, tourist go home" on shop windows and hotels. Outside one hotel, an agitated worker confronted the protesters saying he was "only working" and was not the venue's owner. There were similar demonstrations in other parts of Spain including Ibiza, Malaga, Palma de Mallorca, San Sebastian and Granada. Protests in Italy took place in cities including Genoa, Naples, Palermo, Milan and Venice, where locals oppose the construction of two hotels that will add about 1500 new beds to the city, the organisers told Reuters. In Barcelona, the city government said last year it would bar apartment rentals to tourists by 2028 to make the city more liveable for residents. "I'm very tired of being a nuisance in my own city. The solution is to propose a radical decrease in the number of tourists in Barcelona and bet on another economic model that brings prosperity to the city," Eva Vilaseca, 38, told Reuters at Sunday's demonstration in Barcelona, dismissing the common counterargument that tourism brings jobs and prosperity. International travel spending in Europe is expected to rise by 11 per cent to $US838 billion ($A1.3 trillion) this year, with Spain and France among the countries set to receive record numbers of tourists. A protest in Lisbon was scheduled for later on Sunday afternoon. Thousands of people have taken to the streets of cities in southern Europe to demonstrate against overtourism, firing water pistols at shop windows and setting off smoke in Barcelona, where the main protest took place. "Your holidays, my misery," protesters chanted in the streets of Barcelona while holding up banners emblazoned with slogans such as "mass tourism kills the city" and "their greed brings us ruin". Under the umbrella of the SET alliance - Sud d'Europa contra la Turistització, or Catalan for "Southern Europe against Overtourism" - protesters joined forces with groups in Portugal and Italy, arguing that uncontrolled tourism was sending housing prices soaring and forcing people out of their neighbourhoods. Barcelona, a city of 1.6 million, drew 26 million tourists last year. Authorities in the northeastern Spanish city said about 600 people joined the demonstration there, some firing water pistols or setting off coloured smoke and putting stickers saying "Neighbourhood self-defence, tourist go home" on shop windows and hotels. Outside one hotel, an agitated worker confronted the protesters saying he was "only working" and was not the venue's owner. There were similar demonstrations in other parts of Spain including Ibiza, Malaga, Palma de Mallorca, San Sebastian and Granada. Protests in Italy took place in cities including Genoa, Naples, Palermo, Milan and Venice, where locals oppose the construction of two hotels that will add about 1500 new beds to the city, the organisers told Reuters. In Barcelona, the city government said last year it would bar apartment rentals to tourists by 2028 to make the city more liveable for residents. "I'm very tired of being a nuisance in my own city. The solution is to propose a radical decrease in the number of tourists in Barcelona and bet on another economic model that brings prosperity to the city," Eva Vilaseca, 38, told Reuters at Sunday's demonstration in Barcelona, dismissing the common counterargument that tourism brings jobs and prosperity. International travel spending in Europe is expected to rise by 11 per cent to $US838 billion ($A1.3 trillion) this year, with Spain and France among the countries set to receive record numbers of tourists. A protest in Lisbon was scheduled for later on Sunday afternoon. Thousands of people have taken to the streets of cities in southern Europe to demonstrate against overtourism, firing water pistols at shop windows and setting off smoke in Barcelona, where the main protest took place. "Your holidays, my misery," protesters chanted in the streets of Barcelona while holding up banners emblazoned with slogans such as "mass tourism kills the city" and "their greed brings us ruin". Under the umbrella of the SET alliance - Sud d'Europa contra la Turistització, or Catalan for "Southern Europe against Overtourism" - protesters joined forces with groups in Portugal and Italy, arguing that uncontrolled tourism was sending housing prices soaring and forcing people out of their neighbourhoods. Barcelona, a city of 1.6 million, drew 26 million tourists last year. Authorities in the northeastern Spanish city said about 600 people joined the demonstration there, some firing water pistols or setting off coloured smoke and putting stickers saying "Neighbourhood self-defence, tourist go home" on shop windows and hotels. Outside one hotel, an agitated worker confronted the protesters saying he was "only working" and was not the venue's owner. There were similar demonstrations in other parts of Spain including Ibiza, Malaga, Palma de Mallorca, San Sebastian and Granada. Protests in Italy took place in cities including Genoa, Naples, Palermo, Milan and Venice, where locals oppose the construction of two hotels that will add about 1500 new beds to the city, the organisers told Reuters. In Barcelona, the city government said last year it would bar apartment rentals to tourists by 2028 to make the city more liveable for residents. "I'm very tired of being a nuisance in my own city. The solution is to propose a radical decrease in the number of tourists in Barcelona and bet on another economic model that brings prosperity to the city," Eva Vilaseca, 38, told Reuters at Sunday's demonstration in Barcelona, dismissing the common counterargument that tourism brings jobs and prosperity. International travel spending in Europe is expected to rise by 11 per cent to $US838 billion ($A1.3 trillion) this year, with Spain and France among the countries set to receive record numbers of tourists. A protest in Lisbon was scheduled for later on Sunday afternoon.
Perth Now
6 days ago
- Business
- Perth Now
Demos decry 'overtourism' in Spain, Portugal and Italy
Thousands of people have taken to the streets of cities in southern Europe to demonstrate against overtourism, firing water pistols at shop windows and setting off smoke in Barcelona, where the main protest took place. "Your holidays, my misery," protesters chanted in the streets of Barcelona while holding up banners emblazoned with slogans such as "mass tourism kills the city" and "their greed brings us ruin". Under the umbrella of the SET alliance - Sud d'Europa contra la Turistització, or Catalan for "Southern Europe against Overtourism" - protesters joined forces with groups in Portugal and Italy, arguing that uncontrolled tourism was sending housing prices soaring and forcing people out of their neighbourhoods. Barcelona, a city of 1.6 million, drew 26 million tourists last year. Authorities in the northeastern Spanish city said about 600 people joined the demonstration there, some firing water pistols or setting off coloured smoke and putting stickers saying "Neighbourhood self-defence, tourist go home" on shop windows and hotels. Outside one hotel, an agitated worker confronted the protesters saying he was "only working" and was not the venue's owner. There were similar demonstrations in other parts of Spain including Ibiza, Malaga, Palma de Mallorca, San Sebastian and Granada. Protests in Italy took place in cities including Genoa, Naples, Palermo, Milan and Venice, where locals oppose the construction of two hotels that will add about 1500 new beds to the city, the organisers told Reuters. In Barcelona, the city government said last year it would bar apartment rentals to tourists by 2028 to make the city more liveable for residents. "I'm very tired of being a nuisance in my own city. The solution is to propose a radical decrease in the number of tourists in Barcelona and bet on another economic model that brings prosperity to the city," Eva Vilaseca, 38, told Reuters at Sunday's demonstration in Barcelona, dismissing the common counterargument that tourism brings jobs and prosperity. International travel spending in Europe is expected to rise by 11 per cent to $US838 billion ($A1.3 trillion) this year, with Spain and France among the countries set to receive record numbers of tourists. A protest in Lisbon was scheduled for later on Sunday afternoon.
Perth Now
22-04-2025
- Business
- Perth Now
Wall Street bounces back as investors focus on earnings
Wall Street's main indexes have recovered some ground as investors focused on corporate earnings after US President Donald Trump's mounting criticism of Federal Reserve chair Jerome Powell led to a sharp sell-off in the previous session. Investors sifted through a slew of quarterly earnings, with dozens more due through the week, for indications on how companies are navigating the uncertainty caused by tariffs and their expectations for a hit to future earnings. "There's still a lot of uncertainty in the air with where tariffs will land ... but if we can look past that, the fundamentals in the markets still look very good," said Eric Sterner, chief investment officer for Apollon Wealth Management. "Earnings are expected to grow 10 per cent for this first quarter, so corporate profits are still very healthy." Shares of industrial conglomerate 3M Co, the biggest gainer on the blue-chip Dow, jumped 3.4 per cent after the company beat first-quarter profit expectations. Verizon fell 2.4 per cent after posting a higher quarterly subscriber loss. Northrop Grumman slumped 8.7 per cent after it reported a sharp drop in profit while RTX tumbled 8.0 per cent after the company flagged a potential hit of about $US850 million ($A1.3 billion) to annual profit from tariffs. In early trading on Tuesday, the Dow Jones Industrial Average rose 568.66 points, or 1.49 per cent, to 38,739.07, the S&P 500 gained 69.03 points, or 1.34 per cent, to 5,227.23, and the Nasdaq Composite added 240.11 points, or 1.51 per cent, to 16,111.01. Megacaps also recovered, with Nvidia rising 1.1 per cent and Apple up 1.7 per cent. All sectors on the S&P 500 inched higher, with consumer discretionary taking the lead. Tesla, which will kick off earnings for the "Magnificent Seven" group of megacap stocks after markets close, rose 2.1 per cent. The mood, however, remained fragile as investors awaited Trump's next move in his relentless tussle with Powell over interest rates, fuelling concerns about the US central bank's autonomy and the future monetary policy path, which pushed Wall Street down more than 2.0 per cent on Monday. Clarity on US tariff policy and the outcome of negotiations with individual countries on reciprocal levies are also in focus. Indexes have fallen sharply this year as Trump's erratic trade policies rattled markets, with the S&P 500 more than 14 per cent below its February 19 record closing high. A close 20 per cent below that mark would confirm that the index has entered a bear market. The Nasdaq Composite confirmed it was in a bear market earlier this month. The International Monetary Fund slashed its forecasts for growth in the US on Tuesday to 1.8 per cent in 2025, from 2.8 per cent growth in 2024. Commentary from several Fed speakers is expected through the day. Their remarks will be parsed for clues on the central bank's policy outlook and view on rising tensions with the White House. Shares of Invesco leapt 8.7 per cent after the asset manager reported higher-than-expected quarterly profit. Advancing issues outnumbered decliners by a 9.24-to-1 ratio on the NYSE, and by a 4.52-to-1 ratio on the Nasdaq. The S&P 500 posted one new 52-week high and one new low while the Nasdaq Composite recorded 11 new highs and 27 new lows.
