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Asian markets drop on economy worries, yen rallies
Equities slipped Wednesday following a mixed day on Wall Street, as worries about the world's top two economies offset optimism that the Federal Reserve will start cutting interest rates next week. Another round of sub-par US jobs data last week revived worries that the world's top economy was slowing more than expected and could be on course for a recession.
Power struggle: Serbia eyes nuclear energy to fuel future
Time stands still at Serbia's Vinca nuclear facility, where the decommissioned Yugoslav-era reactor is a testament to the fears generated by the controversial energy source. For decades, the research reactor and the surrounding facility have been stuck in another era.
Sony to release PlayStation 5 Pro on November 7
Sony said Tuesday it would launch an upgraded version of its flagship games console with better graphics and AI capabilities on November 7, calling it PlayStation 5 Pro. - 'Unleash possibilities' - Sony announced in an accompanying statement that PlayStation 5 games would be playable on the new console.
Crisis-hit Volkswagen scraps German job protection deal
Volkswagen on Tuesday axed an agreement protecting jobs in Germany that had been in place three decades, as the ailing auto titan pushes ahead with a controversial cost-cutting plan. VW had already flagged earlier that a series of agreements with employee representatives would be axed.
US Fed vice chair tones down proposals for fresh banking regulations
A senior US Federal Reserve official proposed Tuesday a number of "broad and material" changes to new banking rules, toning down plans to tighten regulation and supervision.
BMW recalls 1.5 mn cars over bad brake, cuts outlook
BMW said Tuesday it was recalling about 1.5 million vehicles due to problems with their brakes and cut its outlook for the year, sending the German luxury carmaker's shares tumbling. Last month BMW also recalled 1.4 million vehicles in China due to faulty airbags, the country's market regulator announced.
Europe's fight with big tech over tax, data and disinformation
The European Union scored two major legal victories on Tuesday in separate cases that left Apple and Google owing billions of euros. On Tuesday, the EU's top court upheld a 2.4-billion-euro fine first issued against Google in 2017 for illegally favouring its own price comparison service.
UK's Starmer vows 'partnership' with unions but warns on pay
Prime Minister Keir Starmer on Tuesday pledged to reset industrial relations strained by widespread strike action, as he became the first UK leader to address the annual meeting of Britain's trade unions in 15 years. "Partnership is a more difficult way of doing politics," Starmer said, seeking to draw a line under years of strike action and tensions between unions and the previous administration.
Djibouti says offering port-sharing deal to Ethiopia
Djibouti said it has offered a port-sharing deal with Addis Ababa, a move aimed at easing tensions between Horn of Africa rivals Ethiopia and Somalia. The Ethiopian prime minister had warned Sunday that his country would "humiliate" any nation that threatens its sovereignty, after Addis Ababa accused unnamed actors of seeking to "destabilise" the Horn of Africa.
AFP
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