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Israeli economy struggles under weight of Gaza war
Nearly a year of war in Gaza has battered Israel's economy, and poverty is now threatening communities including in areas far removed from the fighting against Hamas. Fitch predicted in August that the Gaza war -- already the longest since the war that led to Israel's creation -- could stretch into 2025.
California sues oil giant Exxon over plastic recycling 'myth'
California began legal action Monday against oil giant ExxonMobil over a "decades-long campaign of deception" about plastics recycling that has worsened a global pollution crisis.
Boeing boosts pay offer in effort to end strike
Boeing proposed lifting hourly wages for striking workers by 30 percent on Monday, sweetening its initial offer in an effort to end a 10-day stoppage that shuttered Seattle-area plants. The 30 percent general wage increase improves on the 25 percent in the earlier offer, which was initially endorsed by IAM leaders before the rank-and-file workforce rejected it decisively.
Man Utd stadium regeneration could add £7.3bn to British economy
A proposed regeneration of the area around Manchester United's Old Trafford stadium could generate £7.3 billion ($9.7 billion) annually to the British economy, according to an economic feasibility study commissioned by the club. United are considering whether to pursue a £2 billion plan for a brand new 100,000-seater stadium or redevelop the existing 74,000 capacity Old Trafford.
Friedkin Group reach deal to buy Everton
Everton announced on Monday that the US-based Friedkin Group has reached an agreement to buy Farhad Moshiri's majority stake in the struggling Premier League club. "Blue Heaven Holdings and the Friedkin Group confirm that they have reached agreement over the terms of the sale of Blue Heaven Holdings' majority stake in Everton Football Club," the club said.
Telegram's Durov announces new crackdown on illegal content
Telegram founder and chief executive Pavel Durov said Monday that the messaging platform had removed more "problematic content", weeks after his arrest in France on charges of failing to act against criminals using the app.
Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand. The loss of 1,600 jobs in Sweden comes as electric car sales slump in Europe and the continent lags far behind China in battery production.
UniCredit ups stake in Commerzbank to 21 percent
Italian lender UniCredit said on Monday it has increased its stake in Commerzbank to around 21 percent, fuelling speculation that it could seek a takeover of its German rival. Before UniCredit took a stake in the German lender, Berlin had announced that it was looking to sell down its 16.5-percent stake in Commerzbank, citing the bank's improved economic situation.
Big rate cut was 'appropriate' first step: Fed official
The US Federal Reserve's decision to cut interest rates by half a percentage-point was "an appropriate and necessary first step," given progress on reducing inflation, a senior bank official said Monday.
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