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Bank of England set to hold interest rate
The Bank of England was expected Thursday to keep its interest rate on hold for a second successive meeting, as Britain battles stubbornly high inflation and weak economic growth. Analysts widely expect the economic backdrop to trigger another BoE rate pause Thursday.
'Brazilian Warren Buffett' rises from poverty to stock stardom
A former shoeshine boy now worth hundreds of millions of dollars, Luiz Barsi has been called the "Brazilian Warren Buffet" for his ultrasharp investing acumen. Barsi, who calls himself a "mini-owner" of the companies he invests in, says stocks should guarantee a monthly payout.
S&P says sharing office space giant WeWork in 'selective default'
Embattled flexible workspace provider WeWork is in "selective default" after failing to meet conditions set by debt holders, ratings agency S&P said Wednesday. But S&P characterized the company's status as one of "selective default."
Disney to complete takeover of Hulu with $8.6 bn deal
The Walt Disney Company on Wednesday announced it will buy Comcast's $8.6 billion stake in Hulu, completing its takeover of the streaming service. The deal values Hulu at $27.5 billion in total, according to Disney, which said the transaction will be concluded by December 1.
US prosecutors brand Bankman-Fried thief in crypto trial
Former cryptocurrency whiz kid Sam Bankman-Fried knowingly stole money from customers of his FTX platform, US prosecutors told a federal court in closing arguments on Wednesday. Bankman-Fried is on trial in New York for siphoning funds invested by unknowing customers on his FTX cryptocurrency exchange platform, once the second biggest exchange for crypto investors.
EU bans Meta's use of personal data for behavioural advertising
The European Data Protection Board said Wednesday it had adopted a binding decision that will ban Facebook and Instagram owner Meta from using the personal data of users for targeted advertisements.
At halfway point, next challenges loom for ECB's Lagarde
Halfway through an eight-year stint as head of the European Central Bank, Christine Lagarde has cause to cheer as inflation finally slows after an unprecedented streak of interest rate hikes.
Bitcoin wins boost on hope of broader trading
Bitcoin's price has risen strongly in recent weeks with the United States possibly set to allow a popular type of trading in the cryptocurrency that would further normalise the asset. Whatever the SEC decides on the exchange-traded funds, bitcoin's current price-recovery is a positive for cryptocurrency, a sector rocked by a series of bankruptcies and scandals in recent years.
UK, US, China sign AI safety pledge at UK summit
Countries including the UK, United States and China on Wednesday agreed the "need for international action" as political and tech leaders gathered for the world's first summit on artificial intelligence (AI) safety.
AFP
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