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Asian markets track Wall St losses as traders pause after rally
Asian markets turned negative Thursday as investors took their foot off the gas after an extended rally fuelled by expectations the Federal Reserve will slash interest rates next year. "An upside surprise in the figures is crucial to bolster the credibility of the Federal Reserve's efforts to push back against market rate cut expectations.
Warner Brothers Discovery explores merger: report
Warner Brothers Discovery shares slid more than 5 percent Wednesday after reports emerged that the media and entertainment giant is exploring a merger with rival Paramount Global. Warner Brothers Discovery had a market value of about $28.4 billion based on its closing share price Wednesday -- more than double the roughly $10.3 billion valuation of Paramount Global based on its closing share price.
US electric scooter company Bird files for bankruptcy
US electric scooter rental company Bird announced Wednesday that it filed for bankruptcy protection as the once-hot startup reorganizes itself. Bird was part of a generation of scooter companies that grew fast in the late 2010s.
EU strikes budget reform deal after two-year wrangle
The EU agreed reforms Wednesday that will loosen budget rules with the goal of encouraging investments while keeping debt and spending under control, after France and Germany bridged their differences. Dutch minister Sigrid Kaag said: "This agreement provides for fiscal rules that encourage reforms, with room for investments and tailored to the specific situation of the member state in question.
US home sales edge up in November but still gloomy
Sales of US existing homes crept up in November, according to industry data released Wednesday, though they remained at a low level as high mortgage rates weigh on activity. But NAR chief economist Lawrence Yun sounded an optimistic note, saying that the persistently low sales figures reflect the situation in most of October when mortgage rates were at a two-decade high.
EU court sides with Ryanair over Air France-KLM aid
A top EU court annulled on Wednesday the approval of a pandemic state aid programme for Air France-KLM that had been challenged by Irish rival Ryanair and Malta Air. The court noted that Ryanair and Malta Air had argued that the measures were "contrary to EU law".
EU toughens rules on three major porn platforms
The European Union on Wednesday added three pornographic websites to its list of online platforms that are large enough to come under tougher safety regulation. The three new names on the list bring to 22 the number of huge platforms regulated by the Brussels across the 27-nation bloc, according to a statement from the European Commission.
UK inflation hits lowest level in more than two years
British inflation has slowed sharply to the lowest level in more than two years on falling petrol prices, official data showed Wednesday, easing a cost-of-living crisis after aggressive interest-rate hikes.
On yer bike: London firms turn to cargo bikes
On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his next job by bike. Like Hume-Wright, environmental considerations were a key factor for the switch.
AFP
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