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Italy opens probe over Ryanair market dominance
Italy's antitrust watchdog said Wednesday it has opened an investigation into Ryanair over allegations the Irish low-cost airline is abusing its dominant market position. According to Italy's civil aviation industry, Ryanair carried 45.7 million passengers in 2022, the market leader with some 37 percent of the national and international market. glr/ar/rl
Ford reaches Canadian labor deal as US auto strike enters 6th day
The Canadian auto workers union has reached a tentative agreement with Ford, averting a strike as the labor group's US counterpart eyes expanding its ongoing stoppage to more plants. Unifor, which represents Canadian auto workers, said late Tuesday the agreement pertained to more than 5,600 Canadian Ford workers who stood poised for a potential walkout.
EU pushes 10-year renewal for controversial herbicide
The European Commission proposed to renew the use of the controversial and widely used herbicide glyphosate in the EU for 10 years on Wednesday, after a report saw no reason to block it. But the European Chemicals Agency last year said scientific evidence did not justify classifying glyphosate as a carcinogen.
Biden launches 'climate corps' for green jobs
US President Joe Biden launched a new "Climate Corps" on Wednesday to help young people get green jobs, as he tries to sell voters on his plans for a clean energy economy. One group, Evergreen, said it was a "big step toward delivering good jobs for young people in the booming clean energy economy."
French Apple workers call strike on iPhone 15 debut
Workers at Apple stores in France are set to strike and disrupt the launch of the iPhone 15 in a battle over pay, trade unions told AFP on Wednesday.
UK set to backtrack on net zero policies
The UK looked set to backtrack Wednesday on policies aimed at achieving net zero emissions by 2050 with Prime Minister Rishi Sunak expected to water down some of the government's green commitments. The move comes amid growing concern over the potential financial cost of the government's policies to achieve net zero carbon emissions by mid-century.
Toshiba says $14 bn offer to go private set to succeed
Toshiba said on Wednesday that a $14 billion tender offer to take the troubled Japanese conglomerate private is set to succeed. "We have received a report from the offeror that the tender offer is forecasted to be successful," Toshiba said in a statement.
UK inflation in surprise drop to 18-month low
British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week's widely-forecast interest rate hike by the Bank of England could be its last for now. It comes one day after data showed eurozone inflation also slowed slightly in August.
Asian markets sink with Wall St as rate fears grow ahead of Fed
Concerns that the Federal Reserve will have to lift interest rates again or keep them at a 22-year high for an extended period weighed on investor sentiment Wednesday as traders await the bank's latest policy decision. That has weighed on risk assets as traders contemplate a drawn out period of high rates with tech firms, which rely on borrowing to fuel growth, among the hardest hit.
AFP
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