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UK's Royal Mail hit with fine by regulator over delivery delays
UK postal operator Royal Mail has been fined £10.5 million ($13.3 million) for delays in delivering mail for the 2023/2024 financial year, Britain's communications regulator Ofcom said Friday. Britain's communications regulator has previously proposed that Royal Mail cut delivery to five days a week, or even just three days, potentially saving the company hundreds of millions of pounds.
UK economy unexpectedly shrinks again in October
Britain's economy shrank for the second consecutive month in October, official data showed Friday, dealing a blow to the Labour government that has made economic growth a priority. Analysts have attributed part of the decline to uncertainty after the Labour government warned of "tough" measures in its budget at the end of October.
Asian markets retreat as China pledges fail to spark excitement
Asian markets fell Friday as China's latest vows to boost the beleaguered economy failed to stir much excitement, while traders looked ahead to a key Federal Reserve policy meeting next week.
Virgin Galactic eyes possible expansion into Italy
US space tourism company Virgin Galactic announced Thursday it is exploring the possibility of opening a new base in Italy, potentially bringing crewed launches to Europe for the first time. The company competes in the suborbital space tourism market with Jeff Bezos's Blue Origin.
Korean Air buys majority stake in rival Asiana Airlines
South Korea's flag carrier Korean Air said Thursday it had bought a majority stake in rival Asiana Airlines for $1 billion, making it the effective owner four years after first expressing its takeover intentions. The European Commission, the bloc's powerful antitrust authority, last year expressed concerns the takeover could restrict competition on routes between Europe and South Korea.
Australia to force tech titans to pay for news
Australia will force Meta and Google to pay for news shared on their platforms under a new scheme unveiled Thursday, threatening to tax them if they refuse to strike deals with local media. Australia wants big tech companies to compensate local publishers for sharing articles that drive traffic on their platforms.
Australia to force tech titans to pay for news shared on platforms
Australia will force Meta and Google to pay for news shared on their platforms under a new scheme unveiled Thursday, threatening to tax them if they refuse to strike deals with local media. Australia wants big tech companies to compensate local publishers for sharing news links that drive traffic to their platforms, an idea they have baulked at in the past.
Asian markets fluctuate after Wall St record; eyes on China
Equities swung in Asian trade Thursday following another record day on Wall Street fuelled by inflation data that reinforced expectations for a US interest rate cut next week, while traders also remained hopeful for more measures to stimulate China's economy.
Amid weak eurozone and political turmoil, ECB to cut rates again
Faced with a stuttering economy, political turbulence in the eurozone and the prospect of renewed trade tensions with the United States, the European Central Bank is Thursday set to cut interest rates again.
AFP
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